Advisors · Advisory boards

Advisory board - How much equity to give and what to expect?

Yaniv Levi

November 25th, 2015

At Change, we use behavioral science and data science to develop an automated personal financial companion. Once our clients link their bank accounts, our technology identifies symptoms for bad financial behavior and applies treatments, served through simple text messages (nudges). We finalized our seed round lately.

We are forming our advisory board. Our hopes are to get top-notch experts in Financial Services,MillennialMarketing and Behavioral Science. I am wondering what equity should we offer those experts and what should we ask them to commit to in terms of time/frequency/deliverables/goals in return so that we have set expectations in place.

If you have an example for such advisor agreement it would be very helpful.

Thanks,

Yaniv

Victoria Cabrera Marketing Coordinator at Patxi's Pizza

November 25th, 2015

Take a look here http://members.founderdating.com/resources/templates. Should be helpful. 

Shivi Aggarwal

November 25th, 2015

Check this out:http://fi.co/contents/fast This contains an advisor agreement made available publicly by The Founder Institute. It is called "FAST".

0.5-2% post Series A is usually the norm for advisor equity depending on the engagement and commitments.

P.S.: Please upvote this answer if you find it useful or helpful in any way. Thanks!

Stephen Mitchell

November 25th, 2015

That is a super resource, Shivi. I have not seen this type of agreement before and I think it will serve very well.

Thank you!