After building out a strong management team, current CEO and co-founder Alan Moore will serve as Executive Chairman of the Board alongside co-founder Michael Kitces and independent Board member Yves-Marc Courtines
AdvicePay, the leading platform for processing payments and overseeing compliance of fee-for-service financial planning, announced that the firm has initiated a CEO search to lead the organization into its next phase of growth. Current CEO and co-founder of AdvicePay, Alan Moore, will transition to Executive Chairman of the Board, alongside co-founder Michael Kitces and independent Board member Yves-Marc Courtines, and help lead the transition to a new CEO. Currently, Moore splits his time as CEO of two Inc. 5000 fastest-growing businesses, and in order to continue driving AdvicePay’s rapid growth, the fee-for-service payments and compliance platform is seeking a new full-time CEO to drive its ongoing growth with large enterprises.
“We’ve built a strong leadership team, currently managed by experienced Directors of product, customer success, sales, marketing, and business operations,” Moore said. “At this stage of our evolution and growth, we feel confident in bringing in dedicated executive talent to take the reins as CEO full-time, particularly now that our platform has grown into a true enterprise workflow solution.”
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Under Moore’s leadership in the past two years, AdvicePay has experienced a 123% increase in advisors added to the platform, a 153% growth in transaction volume, and a 141% increase in annual recurring revenue. Additionally, AdvicePay ranked No 636 among America’s fastest-growing private companies on the Inc. 5000 list in 2022, and ranked No 1 in Montana.
“AdvicePay is at the epicenter of the industry’s ongoing shift to alternative fee models beyond assets under management as consumer demand for standalone financial planning continues to increase,” said Michael Kitces, co-founder of AdvicePay and XY Planning Network. “Similar to the emergence of the AUM model 30 years ago, the growth of which was catalyzed by the arrival of technology platforms like Schwab Advisor Services and other RIA custodians that brought the technology to make it possible for advisors to manage portfolio compliantly at scale, AdvicePay’s technology is similarly enabling the next stage of evolution in advisor business models. And notwithstanding AdvicePay’s rapid growth already, we believe this is still only the 2nd inning of a long-term industry shift.”
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The new CEO position will own and execute the vision, strategy, and overarching tactics to scale the organization to the next level. “I am extremely proud of the work we have done in creating a dynamic, financial planning enabling platform, along with developing our team members and nurturing our professional and enterprise clients through our startup years,” said Moore. “To continue that great progress, it is time for us to bring in a dedicated leader who can carry the baton to further scale AdvicePay’s position as the pre-eminent platform in the industry, and I look forward to supporting the company through my role as executive chairman of the board.”
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