[Advisor] Total Engagement Fee

What is a TEF

As an Advisor as part of an Enterprise firm, an Engagement type you might encounter is an Engagement that shows a Total Engagement Fee (TEF) amount needed.

The Total Engagement Fee (TEF) is the amount that should be collected over the lifetime of the single engagement. The Total amount of the Engagement fee controls the number of dollars any Advisor can create for all invoices and subscriptions in that Engagement.

Advisors can request one total amount on a single Engagement. Fee escalations must also be included in that total amount for the Total Engagement fee. Once the Engagement is set up for the full fee, it cannot be edited.

Engagements with a TEF

When creating a new Engagement you might see the TEF like the below image. This shows the Engagement is only allowed to be set for that one full amount. This full amount must be added for the entirety of all invoices, subscriptions, and any escalations on this single Engagement.

The next screen will show the TEF amount. The amount must match (or be less) than the expected amount for the Engagement on the first screen it was input.

After completing the Engagement and all items are sent to the client, you will see the total Engagement along with the other information on it for reference:

Tip: The Account Owner and Home Office of the Enterprise firm can see Engagements for all Advisors on the firm account. In addition, they can edit the TEF if needed. Please reach out to your firm's Home Office if you need to edit the TEF, as they can only do this.

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