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Billing and payment software

AdvicePay makes getting paid for your financial advice easy for you – and your clients. Create invoices, manage subscriptions, and collect payments all in one platform.

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Convenient and compliant billing for fee-based financial advisors

Automatically Bill Subscriptions
Send One-Time Invoices
Accept Credit Card and ACH Payments
Spend Less Time On Billing
Deliver a Great Client Experience

Automatically bill subscriptions

Create recurring invoices to automatically bill clients for their ongoing financial planning fees. Choose from monthly, quarterly, or semi-annual billing frequency, set the subscription start and end dates, and let AdvicePay do the rest.

Do you charge an upfront fee for client onboarding? We’ve got you covered. Include a one-time invoice with your subscription setup. Your new client will only have to approve billing and set up payment once. 

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Send one-time invoices

If your fee-for-service model uses hourly fees, project-based fees, billing on held-away accounts, or other custom charges, one-time invoicing is a great option. You can even create and send multiple one-time invoices without the hassle of creating each invoice separately by uploading a bulk payment request via .csv file.

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Accept credit card and ACH payments

Give clients the convenient payment options they expect. With AdvicePay your clients can pay via credit card (including MasterCard, Visa, American Express, and Discover), debit card, ACH, or a brokerage account (if debits are enabled). To avoid triggering custody and maintain compliance, the client is always the only one who can enter, update, or view their payment accounts. 

Have a preferred payment method? Adjust your payment type settings to accept only ACH or credit card payments from your clients.

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Spend less time on billing

Take advantage of time-saving tools built-in for the specific needs of financial advisors. Use fee calculators to quickly determine fees based on complexity, income, or other factors. Apply automatic fee escalations to subscriptions so you don’t need to adjust them manually every year. Integrate your eSignature solution to automatically populate your financial planning agreement with key information from your payment requests.

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Deliver a great client experience

Build trust with your clients by offering a professional onboarding, fee billing, and payment experience. Bundle planning agreements with subscription invoices so clients can sign and set up auto-pay in 2-3 minutes. Personalize your invoices and emails with your logo and contact information. Give clients complimentary access to the client payment portal to manage their payment methods, communication preferences, and documents. 

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“I want to make it as easy as possible to work with clients. I want to make it easy for people to set up a relationship with me and – most importantly – I want to make it easier for them to pay me.”
Website Image - Bradley Hilton AP Advisor Headshot- Billing & Payments
Bradley Hilton
Sonas Financial Planning

Frequently Asked Questions

Why can’t I enter payment information for my clients?

A 2013 SEC Risk Alert specifically noted that having online access to client accounts can trigger custody if the online access includes the ability to withdraw funds or transfer them to another account. While it’s not illegal for financial planners to have custody, those who do are subject to substantial, additional compliance oversight requirements, including the obligation to arrange for annual "surprise" audits at the advisor's expense, typically costing $10,000 or more per audit.

AdvicePay guards against custody via the following features:

  • Advisors cannot view any client's bank account or credit card information
  • Advisors cannot bill clients without the client's permission
  • Advisors cannot withdraw client funds without client approval
  • Advisors cannot make any billing changes without client approval
What are AdvicePay’s transaction fees?

Credit card transaction fees are 3.5% + $0.30 per transaction.

ACH transaction fees are 1.5% per transaction, with a minimum fee of $0.30.

Are there limits on how much I can process through AdvicePay?

No! You can process as many transactions as it takes to serve your clients.

How long does it take AdvicePay to process payments and send payouts?

Credit cards process immediately, so you’ll know right away if the payment succeeded or failed. Payouts from credit card payments take 1-3 business days.

ACH payments take 4-6 business days from the time the client makes their payment until you receive a payout.

You can learn more about tracking your payments and payouts in our knowledge base.

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