This Agreement is made between (referred to as “Client” and “you” in this Agreement) and Kenneth Klabunde, MSFP, CFP, CDFA, principal of Precedent Asset Management, LLC dba Precedent Financial Strategies (referred to as “we”, “us” and “our” in this Agreement) and is dated as of December 2, 2023.
1. Scope of Services
Our role as a financial professional in the divorce process is to be an educator and facilitator in all matters relating to your finances. We will gather any financial information we deem necessary to help you and your professional team work together to achieve a mutually agreeable settlement for your family. Investment advice is explicitly excluded from this agreement. All information provided by you, and our analysis and reports based on this information, will be made available to you and to your professional team. The professional services we provide in consultation with you and/or your counsel may include:
During the course of our engagement, it may be necessary for us to prepare schedules and other written reports that support our analysis. These reports will only be used in connection with your divorce process. It is your responsibility to review reports and financial schedules and note any incorrect information or missing information during the engagement to the best of your ability.
It is important for you to know that we do not provide legal advice.
It may be necessary or expedient for us to obtain information from or discuss matters with other professionals outside the professional team. You and the entire team will need to be in agreement and provide verbal approval before any such discussions occur. Anticipated costs of outside professionals will be part of the agreement and approval conversation, and you will be responsible for any charges billed by other professionals.
(Initial) You authorize us to contact other professionals, as identified and approved by you in our meetings and correspondence, for the purpose of exchanging information that will be helpful as we work together.
All information you provide to us and information that we generate for you will be treated as confidential and will not be disclosed to third parties outside of your professional team, except as required by law or as necessary to provide services to you.
2. Full Cooperation of Parties
To facilitate these services to you, you agree to cooperate fully with us, to be open and truthful in your statements, and to provide us with complete, accurate, and reliable financial information as requested.
You agree not to omit any material financial information or documents that may adversely affect our ability to perform the services for which we are engaged.
You further agree to provide information requested in a timely manner and to be available for meetings and phone calls as needed within a reasonable time frame in an effort to facilitate the process.
You acknowledge that we will rely exclusively on the information provided and that our firm shall not be responsible, nor subject to liability for any errors or omissions in our work product that result from your failure to provide complete, accurate, and reliable information.
3. Advisor Compensation
Our fee for the services described in this agreement is billed at an hourly rate of $450 per hour. We may establish a retainer at the beginning of our work together, from which we will deduct our fees as invoiced. If any amount of the retainer is not used within 180 days or upon termination of this Agreement, whichever is sooner, the balance will be refunded to you.
Hourly fees beyond the initial retainer will be billed at the end of each month (or more frequently if needed or requested) and an additional retainer may be established. Invoices are broadly itemized (meetings and correspondence, analysis and reports, etc.), and you are always welcome to ask for detailed time reports.
If you are sharing responsibility for our fees with another client, please enter their name here: The additional client must also sign our engagement agreement and name you in the same manner. Invoices will be divided and sent to each of you for separate payment.
Each of you is individually responsible for all of the fees that may be incurred by us in the course of this engagement. We assume that all the work performed for this engagement is approved by both of you and is billable to both of you, or as otherwise agreed upon in the course of your divorce process.
4. Termination and Assignment
You may terminate our services at any time by providing written notice. Upon receipt of the written notice, any financial information that we have gathered and work products developed will be turned over to the professional team within a reasonable time frame, and we will acquaint any successor financial professional with the financial facts of the case. We will not engage in any other services after the written notice is received and all fees incurred will be billed and payable immediately.
If you are unable to reach an agreement during this divorce process and you terminate the process, we will not be able to represent or assist either one of you or your respective attorney. We cannot be called to be a witness in court in any areas involving the litigation of your divorce. You agree that our work product, including all content (written and oral), will be inadmissible as evidence in any court proceeding.
In the event we do not feel that we are contributing productively to your professional team, we reserve the right to withdraw. If we exercise this right to withdraw, we would inform your attorneys of our decision prior to withdrawal. Any financial information that we have gathered and work products developed will be turned over to the professional team within a reasonable time frame, and we will acquaint any successor financial professional with the financial facts of the case.
This Agreement cannot be transferred or assigned to anyone else.
5. Disclosures and Notices
(Initial) You acknowledge receipt of our Disclosure Statement (Form ADV Part 2) and our Privacy Notice, available at https://precedentstrategies.com/notices. Please review these documents and let us know if you have any questions. You may cancel this Agreement without obligation within 5 business days if you have any concerns about our disclosures.
You consent to receive various documents from us electronically, including but not limited to the above disclosures and notices, by email or by internet posting with email notification of such posting, at the preferred email address(es) you provide to us in the course of communicating with each other. Depending on your email and internet service providers, you may incur data charges for accessing this information. This consent for electronic delivery is effective for the duration of this Agreement.
6. Applicable Law and Incorporation
This Agreement supersedes and replaces all previous engagement agreements between the parties. To the extent not inconsistent with applicable law, this Agreement shall be governed by and construed in accordance with the laws of the States of Indiana and Ohio, and/or the state where the Client resides.
7. Retention of Records
We will maintain appropriate books and records for you of all activities and data that result from our services to you. We will retain your records in an electronic format for the minimum regulatory period of time after the end of your engagement. After that time, they will be destroyed. Any original documents you provide to us will be returned to you as requested.
You can reach us at any time using the various contact information we have provided to you, and written correspondence can be directed to the following address:
Precedent Financial StrategiesAttn: Kenneth Klabunde9000 Keystone Crossing, Suite 145Indianapolis, IN 46240
Precedent Financial StrategiesAttn: Kenneth Klabunde2017 Elm StreetCincinnati, OH 45202
By signing below, you acknowledge that you have read, understood, and accepted this Agreement.
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Signed by Kenneth Klabunde
Signed On: May 24, 2023
If you have questions about the contents of this document, you can email the document owner.
Document Name: Engagement Agreement
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