AdvicePay, a Bozeman, Mont.-based fee-payment-processing platform designed exclusively for financial advisors, raised a extension seed funding round of $2m.
The round was crowdfunded from within the advisor community.
The company intends to use the funds to power its growth plans, including the launch of a new enterprise version to meet the demand from the hybrid independent broker-dealer and large RIA marketplaces.
Established by Michael Kitces and Alan Moore, AdvicePay is a payment processing platform for financial advisors to 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.
FinSMEs
24/01/2019