AdvicePay, an industry-leading platform for processing payments and managing compliance in fee-for-service financial planning, has announced a collaboration aimed at simplifying the payment process for advisors.
The fintech firm has partnered with eMoney Advisor, a top provider of technological solutions facilitating financial conversations, to enhance operational efficiencies for advisors using both services.
“As the industry shifts toward a model where financial planning becomes the primary service offering, integrating fee billing capabilities directly into financial planning software is a logical step,” said financial planning thought leader Michael Kitces, who’s also a co-founder of AdvicePay.
Under the partnership, the two financial technology companies are integrating their platforms, allowing users to directly transfer AdvicePay-generated documents into their clients’ eMoney vault.
The result is a streamlined workflow that eliminates friction from repetitive tasks, such as logging into multiple platforms or creating separate client profiles for each service.
Highlighting the “opportunity to join another leader in this space,” Kitces said the partnership will help advisors capitalize on consumers’ demand to pay for advice on a one-time or ongoing subscription basis.
The collaboration – designed to benefit both new and longstanding eMoney advisors – was also spurred by direct feedback from AdvicePay clients seeking a seamless connection between the payment and planning platforms.
“We look forward to helping advisors simplify and streamline their workflow so they can more easily get paid fees for their value and spend their time doing what matters most: working with their clients to plan for the future,” said Ricky Illigasch, vice president for product management at eMoney.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
