How a Consumer Hired a Lawyer to Review an Investment Management Agreement in New York

In 2025, a personal client in New York sought assistance with reviewing an Investment Management Agreement as they prepared to engage with a financial advisor for the first time. The client intended to invest a significant portion of their assets and was particularly cautious about various elements of the contract, including broad liability limitations, mandatory arbitration stipulations, and fairness relative to industry standards. Additionally, international considerations involving family members abroad prompted a need for specific assurances regarding potential constraints. As a result, the client received seven proposals from experienced lawyers, with flat fee bids ranging from $500 to $900, all submitted to meet the client's deadline of less than one week.