Client Engagement, Fees, and Compliance

This unit prepares students to operate as competent, compliant financial planning professionals by covering common tax mistakes and decision drivers, fee structures and revenue models, scope-of-service boundaries, professional qualifications, liability protections, and client relationship practices. Students will learn to calculate fee breakdowns, distinguish tax/legal services from financial planning, evaluate qualifications and references, and design implementation and referral plans consistent with ethical and regulatory boundaries.

Learning Objectives

• Analyze common tax preparation errors and behavioral factors that lead to poor tax decisions and apply strategies to help clients avoid those mistakes
• Calculate and interpret fee and revenue composition for a financial planning practice, including the proportion of income from client fees versus commissions, the split between money management and hourly planning, and compute an appropriate hourly fee
• Differentiate tax and legal services from financial planning services and evaluate a planner’s qualifications, work experience, liability insurance coverage, and ability to provide relevant client references
• Develop a compliant implementation plan that provides specific strategies and product recommendations within scope, outlines steps for execution and client communication, and specifies referral procedures for tax or legal matters