Which document outlines the fees and services provided by a financial advisor?

The Form ADV Part 2 is the document that outlines the fees, services, and business practices of a financial advisor in detail. It is specifically designed to provide information to clients that allow them to understand the advisory services offered, the financial advisor’s qualifications, the types of fees charged, and potential conflicts of interest. This form serves as a crucial disclosure document that assists potential clients in making informed decisions about whether to engage the services of the advisor.

It typically includes specific sections discussing the advisor's educational background, work experience, and the nature of the investment advice provided. This level of transparency is essential in fostering trust between the client and advisor.

In contrast, the other documents mentioned serve different purposes: Form ADV Part 1 contains basic information about the advisor's business, registration, and ownership but lacks the detailed description of services and fees. The Financial Planning Statement generally pertains to a specific client’s financial plan rather than an outline of services and fees. The Disclosure of Services Agreement is not a standard term used in financial advisory practice and might refer to general agreements which could vary between different advisors.