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How WealthKeel’s Niche Practice Simplified Client Billing and Boosted Trust with AdvicePay

WealthKeel faced compliance and efficiency issues with its previous billing platform. Before AdvicePay, young professional clients were required to mail checks, a process that was slow, inefficient, and inconvenient, especially during the pandemic. The firm needed a compliant, user-friendly billing system that aligned with its flat-fee subscription model, specifically designed for high-income clients with complex financial situations.

The Challenge

WealthKeel faced challenges with previous payment systems that weren’t fully compliant and required some clients to mail checks, creating inefficiencies and a suboptimal experience. With many young clients accustomed to digital solutions and limited time, WealthKeel needed a streamlined, digital billing process that would also fit their flat-fee subscription model.

The Solution

By implementing AdvicePay, WealthKeel transitioned to a fully digital, subscription-based billing system that enhanced client experience and ensured regulatory compliance. AdvicePay’s platform provided WealthKeel’s clients with a seamless, independent portal to manage payments, building client trust through transparency and easy opt-out options. The transition was smooth, and AdvicePay’s responsive support ensured a reliable experience for both WealthKeel and its clients.

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Chad Chubb, CFP®, CSLP®

"AdvicePay as a whole is valuable. For us, it is something that we can set it and forget it. If we experience any issues, we know that we will receive an email from your team advising us on the issue. We also know that if we need help with the platform, we can email AdvicePay and we will receive a response quickly and can forward that response to our clients. The entire system is valuable to us."

The Results

WealthKeel achieved greater client trust and operational efficiency with AdvicePay’s streamlined billing and payment system.

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Client Experience

WealthKeel’s clients now benefit from a modern, user-friendly payment experience with full control over their subscriptions

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Efficiency

Advisors saved time by automating processes allowing advisors to focus on client relationships

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Compliance

AdvicePay’s compliance features assured WealthKeel of regulatory alignment, reducing risks with a fully digital solution

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Trust Building

Clients appreciated the easy opt-out options, reinforcing their trust in WealthKeel’s transparent billing practices

Key Takeaways

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Technology Supports Compliance

AdvicePay provides a compliant billing solution, critical for firms handling high-income client accounts with complex needs

Technology Supports Compliance AdvicePay provides a compliant billing solution, critical for firms handling high-income client accounts with complex needs
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Subscription Billing Enhances Client Trust

The subscription model, paired with easy opt-out options, builds trust and increases client satisfaction

Subscription Billing Enhances Client Trust The subscription model, paired with easy opt-out options, builds trust and increases client satisfaction
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A Tailored Model for Niche Clients

AdvicePay allows WealthKeel to align its fee structure with the specific needs of Generation XY physicians, proving that a flat-fee subscription model can effectively serve niche markets

A Tailored Model for Niche Clients AdvicePay allows WealthKeel to align its fee structure with the specific needs of Generation XY physicians, proving that a flat-fee subscription model can effectively serve niche markets

Advisory Services and Financial Planning offered through Vicus Capital, Inc., a Federally Registered Investment Advisor. Registered Representative offering securities through Cetera Advisor Networks LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity. WealthKeel LLC, 111 South Independence Mall East, Suite 500, Philadelphia, PA 19106