Why Choose AdvicePay?

The truth is, if you’re a financial advisor offering fee-for-service planning, there is no other platform designed specifically for your needs. Some financial advisors are using other billing and payment systems for their business, but there are definite risks (and extra work) involved in doing so.

Here’s a quick overview of billing and payment platform alternatives being used by financial planners, and reasons why AdvicePay may be the better choice for your practice.


One thing that regulators notice quickly is how much power the advisor has over changing client billing without notice. This platform allows an advisor to increase a recurring invoice without the client’s approval. That’s a red flag that will encourage an auditor to keep digging, ultimately costing an advisor time and money.

AdvicePay’s Solution

Once established via the client agreement, billing amounts cannot be edited by the advisor without the recorded consent of the client. The AdvicePay system is used to send a notice of the change to the client, asking for their approval before it is enacted. This layer of permission managed by the AdvicePay system creates a clear boundary between the advisor’s power and the client’s control over billing fees. It also keeps things clear and transparent, should an audit ever be conducted.