Financial Advisors now hav easy AdvicePay access via Orion to faciliate more centralized billing of planning fees.
AdvicePay is excited to announce a new billing integration with Orion Advisor Services, LLC (Orion), a leading portfolio accounting provider for registered investment advisors. With this integration, financial advisors using the Orion platform to bill their AUM fees will have one-click access to the AdvicePay advisor portal to bill their non-AUM financial planning and retainer fees as well.
“With the ongoing commoditization of asset allocation, more and more advisory firms are shifting to hybrid business models that combine AUM and financial planning fees… but have never had an efficient system to bill standalone planning fees,” said AdvicePay Co-Founder and industry leader Michael Kitces. “With AdvicePay, advisory firms can efficiently expand their business models to include minimum advice fees, ongoing retainer fees, and standalone planning fees… whether to more profitably serve their existing clients or open up new markets of clients who simply want to pay for financial planning advice directly from a checking account or credit card.”
“We are excited to offer financial planning firms this time- and hassle-saving convenience for financial planning fee billing, made possible by our partnership with Orion. We know that financial advisors use many portals and platforms to do their job. Providing a tool that is compliant, data secure, and efficient is what we are about,” says Alan Moore, CEO and Co-Founder of AdvicePay.
“This integration combines AdvicePay’s billing features with the data-rich, open architecture of the Orion ecosystem,” said Orion CEO Eric Clarke. “Our partnership with AdvicePay expands options available to advisors seeking custom-tailored tech stacks suited to their unique value proposition and business model. ”
Established in 2017, AdvicePay is a payment processing platform for financial advisors designed to help users bill their hourly, retainer, subscription, and other financial planning and advice fees while complying with custody regulations, keeping client data secure, and providing efficient ways to manage fee-for-service billing. Users can accept ACH and credit cards, bill one-time payments, and establish recurrent retainer or subscription billing compliantly – all through the AdvicePay system.
Orion Advisor Services, LLC is the premier portfolio accounting service provider for advisors. Our firm has unique insights into the advisory profession because it was founded for investment advisors by an investment advisor in 1999. Orion frees advisors from back-office tedium so they can enjoy their business again by devoting their time and energy to better serving clients. Orion provides the integrated and fully customizable technology solutions that advisors need to help grow their businesses over the long term. The firm’s technology solutions empower more than $700 billion in AUA and over 2 million accounts. For more, please visit www.orionadvisor.com or follow our news and insights via our blog.