Our only business is serving financial advisors and their clients, so -- unlike other billing and payment systems out there -- we're able to design AdvicePay around the unique needs of financial planning businesses.
Topics: Feature Releases
In December, we launched some pretty serious email upgrades that we're excited to share, and also knocked out a fat stocking's worth of other upgrades and fixes. These small, sweet changes are sure to get your new year started right without compromising your diet resolution. Win-win!
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Lots of new email features
Topics: Release Notes
At AdvicePay, we're all about making you more efficient with streamlined, compliant workflows, but it is also our goal to help foster great relationships between you and your clients. That's why we've invested significant development time over the past few months to upgrade our AdvicePay email functionality.
Many of the upgrades now available were created in direct response to ideas and requests from our users. Thank you! We're always eager to chat about anything that can make AdvicePay even better.
Topics: Feature Releases
It’s the holiday season, and there’s a holiday song I’ve never quite understood. As with most holiday songs, there are a lot of versions, but I’m going with the medley of “Happy Holiday” and “The Holiday Season” as popularized by Andy Williams. And here’s the line that really gets me:
“It's the holiday season, so whoop-de-do...”
First of all, who says “whoop-de-do”? Second of all, what sort of enthusiasm is that for the most wonderful time of year* (also known as Mariah Carey’s holiday)? This expression feels like a well-intended effort toward genuine holiday excitement that just gets lost for words.
Between work and extra time with family and friends -- all wonderful, but time is the operative word here -- this season can become exhausting to the point of mere whoop-de-do levels of excitement. Managing ourselves well -- our greatest business asset -- becomes even more important during this busy time of year.
Topics: Practice Management
In November, we delivered on one of our most often requested feature adds: eSignature integration! Yep, we did it. All of that, and a bit more.
(We're not folks to brag, but our developers are pretty much rock stars.)
The rest of the team has been pitching in, too, getting the word out, answering your questions, and planning for what's next. Take a look!
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You asked for it. We've got it. Now, here's what you can do with it in AdvicePay.
Customize your description of services to create payment requests quickly.
Topics: Release Notes
When starting a financial planning firm, advisors often fall into traps around:
The five mistakes listed below provide examples for how these common traps play out, and offer solutions for how to avoid them.
Topics: Practice Management
I recently attended an NRS Compliance Conference in California and, as we like to do at AdvicePay, we brought some pretty cool t-shirts to give away. While I expected the “all you need is love and a good financial planner” t-shirt to be a popular choice, I was blown away by the popularity of the “bad a$$ financial planner” shirts. We ran out of them in record time and received requests for special-edition “bad a$$ compliance officer” tees. As we talk through what makes AdvicePay compliant in this post, just remember - compliance is bad-a$$!
At AdvicePay, we understand that compliance is a top priority for advisors. We also understand that most financial planners were not drawn to the financial services industry because of compliance. Rather, it is a necessary aspect of the work you do in order to best serve your clients. AdvicePay was built specifically for financial planners as a compliant billing solution when implementing the fee-for-service model. When using AdvicePay, you can trust that you have a compliant billing solution, allowing you to spend more time serving your clients and less time on the complexities around billing.
Topics: Compliance
It's been a busy month at AdvicePay! Perhaps fueled by the early and ongoing purchase of Halloween candy, our team has been working like crazy to bring you enhanced features and customization tools. We're happy to share that many of these have been completed in response to your feedback! Thank you for helping to make AdvicePay better.
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Now view a "paper trail" of key actions performed in AdvicePay by users connected to your account.
Customize the emails both you and your clients receive by turning off select notifications.
Customize when your clients receive their upcoming or overdue invoice reminders.
Say it your way with this new customization feature.
Access a real-time, chronological log of relevant system emails sent to clients, users on your account, and yourself.
Topics: Release Notes
Growing up, I was told my grandfather was a financial planner. He had a thousand clients and hit a home run - or was it a grand slam? - with some Chinese stock. Or so the legend goes.
I was also taught about how much my grandfather cared for people - his clients, his neighbors, his family. Based on my early memories of him and the stories I’ve heard over the years, I am confident he served his clients with integrity and to the best of his abilities with the resources available to him. However, I’m not sure "financial planner" accurately describes the work he was doing - at least as I understand comprehensive financial planning today.
Topics: Practice Management
At AdvicePay, we are asked this question often, and it’s an important one to consider. Charging a fee “too frequently” can make clients feel nickel-and-dimed, and may stress the relationship if the client feels they’re being charged more often than they’re talking with or receiving services from their financial planner. On the other hand, charging “too infrequently” will make each fee larger when it does occur, potentially causing sticker shock and more disruptive cash flow for your clients.
There are four common fee frequencies, each with different pros and cons, depending on your business and the clients you serve.
Topics: Practice Management
