How a Consumer Hired a Lawyer to Draft an Investment Management Agreement in Washington

In 2024, a personal client in Washington sought assistance with drafting an investment management agreement. The client aimed to clarify the intellectual property rights associated with covering all costs for white labeling, particularly regarding the returns anticipated from the original equipment manufacturer. This needed an expert's guidance on the specific services to be provided by an investment manager, establishing fee arrangements, and the level of discretion the manager would have in handling investments. As a result, the client received four proposals from licensed lawyers, with flat fee bids ranging from $850 to $1,395, all delivered within the requested deadline of less than a week.