ADVISORS CHARGING SERVICE FEE, SHARE (%) STARTED CHARGING SERVICE FEES SINCE, SHARE (%) In the TMR Distribution Outlook 2021, 27% of advisors shared that they would like a training format in which they could learn how to implement service fees. While it is unclear whether that training was made accessible to them, there has certainly been a steady rise in the share of advisors charging service fees. One in two advisors charge their clients for the service provided while another 14% plan to charge service fee in near future. One advisor shared, CHART 10 | 17 2022-2023 2020-2021 2016-2019 2011-2015 2006-2010 2001-2005 Before 2000 19% 6% 9% 11% 17% 16% Yes, I charge fees now. It is necessary to get paid for the service you provide. Commission alone is not enough to earn a living on. It protects your income if the client cancels or is unable to travel. DISTRIBUTION TRENDS Yes 50% No 36% Not yet but plan to 14% 22%