Enterprise solution from AdvicePay will enable Kestra Financial to support the fee-for-service financial planning process for its financial professionals
AdvicePay, the leading fee-payment-processing platform designed exclusively for financial professionals, announced that Kestra Financial has selected AdvicePay’s Enterprise platform to further its commitment to empower financial professionals’ success and expand its integrated technology platform.
“We are delighted to partner with Kestra Financial in designing a complete enterprise solution for their home office and financial professionals”
As part of this partnership, Kestra Financial will tap into AdvicePay’s recently launched Engagements workflow platform that includes the ability to automate the entire lifecycle of fee-for-service financial planning engagements, including originating planning agreements, capturing digital signatures, matching agreements with invoices, and processing client payments electronically, while ensuring that financial plans are delivered to clients — all in one comprehensive system from AdvicePay. Further, AdvicePay’s end-to-end platform and automated workflows are launched from Kestra Financial’s financial professional platform, creating a powerful efficiency, compliance, and productivity solution.
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“Kestra Financial’s partnership with AdvicePay evolves the business models of our financial professionals to compliantly provide subscription, hourly, and retainer financial planning options to their clients, while expanding choice of payment options,” said John Amore, Executive Vice President and Head of Wealth Management at Kestra Financial.
Associated firm of Kestra Financial, Fish & Associates in Memphis, Tennessee, shared, “We love AdvicePay! From our perspective, it provides a very professional and smooth onboarding experience for clients.”
For enterprise financial services firms, managing the many components of the fee-for-service planning process has been a growing and evolving aspect of back-office and compliance efforts involving separate systems. Particularly as the fee-for-service financial planning movement has been growing rapidly among financial planners, it is also creating operational bottlenecks and manual workflows that are limiting enterprises’ ability to scale fee-for-service planning.
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“We are delighted to partner with Kestra Financial in designing a complete enterprise solution for their home office and financial professionals,” said Alan Moore, CEO and co-founder of AdvicePay. “Integrating the many operational, billing, and compliance systems involved in support of the fee-for-service financial planning process has proven to be a complex endeavor for large financial services firms, which is why we are extremely excited to see our Enterprise platform become the go-to solution for firms looking to empower their financial professionals in this new approach to delivering financial planning services.”
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