Tips for Using Financial Management Services Contracts with Clients

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PDF Template - financial management services agreement template

If you work as a financial manager, or you're thinking about making a career in that area, you'll want to consider using a financial management service contract template. That way, you can have all the important information included automatically, and just add the details that are specific to your client and situation.

Templates work well for peace of mind, and they help ensure that you don't leave something out. With all the information in one place, you and your clients will feel more comfortable. Here's what to consider, when using a financial management service contract template.

What We’ll Cover

When you have a good template for your financial management service contract, you don't need to worry about whether you're properly covered. Financial management can come with some risks, and you want to be sure your clients understand that. In this article, we'll cover:

  • The Most Important Clauses
  • Financial Management Best Practices
  • Tips for a Secure Contract
  • Advice on Financial Management Contracts
  • Some Key Considerations
  • Additional Sources of Information

Important Clauses in Financial Management Service Contracts

Managing the finances of another person can be a stressful job, but it's an important one. To do it right, and protect yourself in the process, there are some specific clauses needed in your financial management service contract template. These include:

  1. Description of Services -- Your clients need to know exactly what services they're contracting for, and what those services involve.
  2. Payment for Services -- How and when your clients will pay you, and how much, should always be part of your contract.
  3. Relationship of Parties -- Your work for the client is performed as an independent contractor, and this clause ensures there's no employee relationship.
  4. Ownership of Work Product -- All the work products you create are owned by you, and they don't belong to your clients. But you need to make sure your clients know that.
  5. Confidentiality -- Your clients need to know that the work you do for them is confidential, and you won't share it with anyone.
  6. Representation and Warranties -- Protecting yourself legally matters, and you'll want to make it clear that you aren't warranting things like advice against market fluctuations or other decisions your client makes based on that advice.

By ensuring that clauses like these are in your financial management service contract template, you can protect yourself from liability and provide the best quality of service to all your clients, as well.

Financial Management Service Contract Best Practices

When using a financial management service contract template and filling in the details, you'll have all the legal language you need for adequate protection. Your clients will also see you as a professional. In order to follow the best practices for your industry, consider:

  • Creating and filling out the complete contract before asking your client to sign it.
  • Keeping all the same terms and arrangements you've already discussed with your client.
  • Highlighting any and all changes you're making to the legal boilerplate, so your client notices them.

The client you're sending the financial management service contract to shouldn't see anything in that contract as a surprise. Instead, they should feel confident that it's based on what they've already agreed to.

Tips for a Secure Financial Management Service Contract

Among the best ways to make sure your financial management service contract is secure, is to send it and have it signed electronically. When you're ready to do that, you can use Nitro Sign to get all your contracts and important documents signed. It's fast, and it's convenient, too.

Advice on Using a Financial Management Service Contract

One of the most important things to understand about a financial management service contract template, is that it's relatively standard. Financial managers typically offer specific types of services, and a template provides the right legal language to cover those services more fully. Then, the only thing that needs to be handled by you is the detail that's specific to your agreement with the client.

Key Considerations With a Financial Management Service Contract

The biggest considerations for any financial management service contract involve:

  • The right wording to offer legal protection.
  • Clarity on everything being offered and the cost of it.
  • Security for both your client and your business.
  • Correct information based on applicable state laws.

When you use a financial management service contract template, you help yourself and your clients have a better professional relationship.

Additional Sources of Information

Ready to learn more about the value of a financial management service contract template? Here are some sources to check out.

Download Template

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