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Core may allow an adult client’s advisory fees to be paid by a family member or other third party.

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The adult receiving advice remains the client.

The person paying the fee is only the third-party payor.

Our fiduciary duty, advice, confidentiality obligations, and instructions remain with the client unless the payor has separate legal authority or written authorization from the client.

Required Documents

Advisory Agreement

Signed by the adult client.

The agreement should make clear that the client is responsible for the advisory relationship, even if fees are paid by someone else.

Third-Party Payor Acknowledgement

Signed by the client and the person paying the fee.

The acknowledgement should confirm:

• the payor is paying some or all advisory fees;
• the payor is not the advisory client;
• payment does not give the payor authority over the client’s accounts or financial plan;