How to Invoice as a Financial Advisor
How a financial advisor who bills clients directly can lay out an invoice for planning fees and hourly work, with one worked example. This guide doesn't give investment or regulatory advice.
In the US, the Bureau of Labor Statistics says (page last modified October 29, 2026): "Personal financial advisors provide advice to help individuals manage their money and plan for their financial future." In the US, FINRA's guide to choosing an investment professional (checked October 30, 2026) lists questions for clients to ask about pay, including "Do you receive commissions on products I buy or sell? A percentage of the amount of my assets you manage? A flat or an hourly fee?"
Your invoice should match the fee arrangement you've disclosed to the client. The SEC's Investor.gov glossary (US, checked October 30, 2026) says Form ADV is "the uniform form used by investment advisers to register with both the SEC and state securities authorities", and that Part 2 "requires investment advisers to prepare narrative brochures that include plain English disclosures of the adviser's business practices, fees, conflicts of interest, and disciplinary information." This guide covers only how to lay out an invoice for fees you bill directly. For what you may charge and how you must disclose it, follow your registration and ask a compliance professional.
Worked example (sample figures, not suggested fees): an advisor agrees on a flat fee of 2,400.00 for a written financial plan. The invoice sets a payment schedule of 50%, 1,200.00, due when the engagement starts, and 1,200.00 due when the plan is delivered. Later the client books two follow-up hours at 225.00, so a second invoice bills 2 × 225.00 = 450.00. The client pays 2,850.00 in all.
Step-by-step invoicing guide
- 1
Start from the fee arrangement you disclosed
Put the fee on the invoice the way your client agreement and disclosures describe it, such as a flat planning fee or hourly work. FINRA's questions for clients include "A flat or an hourly fee?"
- 2
Describe the service on each line
Name what the client is paying for, such as "Written financial plan" or "Follow-up meeting, 1 hour", with the date of service. Billed's features page says you can "Save products and services in Billed App and pull these products quickly in your invoices." Billed's help center says: "Click 'Add a Line Item' and fill this section to charge against new items and services."
- 3
Split a flat planning fee with a payment schedule
Billed's help center says "A payment schedule lets you add a payment plan to the invoices." It says to "Choose a suitable option among percentage or flat amount" and "Fill out the payment amount and due date of each payment." Set the first payment for the start of the engagement and the second for delivery of the plan.
- 4
Bill hourly work from tracked time
Billed's time tracking page says: "Create an hourly rate project, set its hourly rate, and Billed tracks the charge for each task as you log it. From the project dashboard you can invoice one task or several at once."
- 5
Set a due date
Billed's invoice software page says: "Set a due date on each invoice so your client knows when to pay." Use the payment terms in your client agreement.
- 6
Follow up and record payment
Billed's help center says: "Turn on the 'Payment Reminders' option while creating or editing an invoice." It adds: "You can set a schedule of payment reminders before and after the invoice's due date." Billed's invoice software page says: "Connect Stripe and each invoice gets a pay button for card payments, or connect PayPal to add a PayPal option." It also says: "When a client pays by check or cash, record it as an offline payment so all your income is in one place."
Tips for financial advisor invoicing
- Use the same fee names on the invoice as in your client agreement, so the two documents match line for line.
- Put the period or date of service on each line, such as "Planning engagement, July to August 2026".
- Keep your invoices with your client records in the form your recordkeeping rules require; ask your compliance professional which records apply to you.
- Send hourly work on its own invoice, so it's clear it isn't part of a flat planning fee.
Common invoicing mistakes to avoid
- Billing a fee type that the client agreement doesn't describe.
- Sending one lump-sum line for a mix of planning work and hourly meetings.
- Leaving the date or period of service off the line.
- Not recording a check payment against the invoice, so the client still shows a balance.
How this works in Billed
Saved services
Billed's features page says you can "Save products and services in Billed App and pull these products quickly in your invoices."
Payment schedules
Divide a flat planning fee into two or more payments, set as percentages or fixed amounts with their own dates (Billed's help center).
Hourly work
Log each client meeting under an hourly rate project and bill it from the project dashboard (Billed's time tracking page).
Card, PayPal and checks
Billed's invoice software page says: "Connect Stripe and each invoice gets a pay button for card payments, or connect PayPal to add a PayPal option." Record checks as offline payments.
Frequently asked questions
Start Invoicing With Billed
Set up your account and send your first invoice with Billed.
At a glance
| You bill | How |
|---|---|
| A flat planning fee | One invoice with a payment schedule |
| Hourly meetings | Hourly rate project, then invoice |
| A check payment | Offline payment against the invoice |
When this isn't for you
This guide covers invoicing fees you bill clients directly. It doesn't cover fees deducted from client accounts, investment advice or what your registration requires; follow your registration and ask a compliance professional.