AdvisorWrapFees

  • Advisor Client (Individual, Joint, Retirement, Trust, Org)

  • Alternatively, it is possible to set fees based on predefined template that was created in Advisor Portal using Fees which is outlined here. created in Portal.

XSD

Copy 
<xsd:sequence>
<xsd:complexType name="AdvisorWrapFees" minOccurs="0" maxOccurs="1" />
<xsd:attribute name="ChargeAdvisor" type="Boolean" use="Optional" maxOccurs="1" />
</xsd:sequence>
<xsd:sequence>
 <xsd:element name=" automated_fees_detail" minOccurs="1" maxOccurs="5" />
 <xsd:attribute name="strategy" type="strategy" minOccurs="1" maxOccurs="5" />
 <xsd:attribute name="max_fee" type="strategy" minOccurs="1" maxOccurs="5" />
</xsd:sequence>

Parameters

Name

Type

Description

strategy

NO_FEES

AUTOMATED

 

NO_FEES = No management fees will be applied to the account. Management fees can be added after the account is approved/opened. Please note, if fees are applied after the account is approved/opened, the client will need to sign off on the fee change.

AUTOMATED= Only if automated_fees_detail is included. Fees will be billed to the client's account with blanket client authorization.

ChargeAdvisor

true

false

Indicates whether commissions will be charged to the advisor account. By default, this is set to false.

type

PERCENTOFEQUITY

PERCENTOFEQUITY_MONTHLY

PERCENTOFEQUITY_QUARTERLY

INVOICE_LIMIT

INVOICE_LIMIT_Q

PERCENTOFEQUITY= The IBKR-calculated advisor fee is automatically billed to the client's account with blanket client authorization in arrears daily.

PERCENTOFEQUITY_MONTHLY= The IBKR-calculated advisor fee is automatically billed to the client's account with blanket client authorization in arrears monthly.

PERCENTOFEQUITY_QUARTERLY= The IBKR-calculated advisor fee is automatically billed to the client's account with blanket client authorization in arrears on a quarterly basis.

INVOICE_LIMIT= Advisor can manually submit invoices to the client account monthly. 

INVOICE_LIMIT_Q= quarterly limit

max_fee

Non-Negative Integer

Maximum fee to be charged to the client account, displayed as an annualized amount.

 

For PERCENTOFEQUITY, PERCENTOFEQUITY_MONTHLY, and PERCENTOFEQUITY_QUARTERLY: Annualized percentage that will be billed to the account.

 

INVOICE_LIMIT and INVOICE_LIMIT_Q: Annualized dollar amount that can be billed to the account.

  • Please note that while an advisor can set an Invoicing Cap specifying a dollar amount, IBKR also enforces its own cap.

  • When invoicing, the system will allow to take the lesser of the two value (i.e. IBKR's cap or the Advisor's set cap)

 

Period X = 12 30-day cumulative periods over the last 360 days.

 

If an account has been funded less than 360 days, all the even 30-day periods up to the time the account has been funded will be included. Or the Period X will be the exact number of days the account has been funded.

 

 
Copy 
<AdvisorWrapFees strategy="AUTOMATED">
  <automated_fees_details type="PERCENTOFEQUITY" max_fee="5"/>
 <automated_fees_details type="INVOICE_LIMIT" max_fee="5000"/>
</AdvisorWrapFees>

Sample translates to:

  • Annualized Percent of Net Liquidation Value (5%) charged daily.

    • Assumption: Client’s previous day ending-equity is $100,000.

    • Calculation: Your advisor client fees for the given day will be: 5%*$100,000/252=$19.84.

  • Invoicing dollar limit of up to 5000 per month .