Innovative payment processing platform enables HTK financial professionals to seamlessly offer subscription-based services
AdvicePay, the leading fee payment-processing platform designed exclusively for financial professionals, announced an enterprise online billing and payment solution for top broker-dealer and registered investment adviser (RIA), Hornor, Townsend & Kent, LLC (HTK). The solution and partnership supports the expansion of HTK’s fee-based financial planning platform and is available to HTK financial professionals who are investment adviser representatives (IARs).
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As part of this ground-breaking solution, AdvicePay is enabling a new era for HTK financial professionals to offer subscription-based services as well as conveniently accept online credit card payments for traditional financial planning.
“Financial planning is undergoing a fundamental shift from being compensated to implement products, to being paid for the advice itself,” said veteran financial advisor and AdvicePay co-founder, Michael Kitces. “Alternative pricing arrangements, such as subscription models or hourly arrangements, are becoming increasingly prevalent to compensate financial professionals for their advice, which is why we designed AdvicePay. We are excited to be working with HTK to implement this next-generation approach.”
“As financial planning services gain momentum, HTK has prioritized the enhancement and expansion of these service offerings within our RIA program,” said Tim Donahue, president and CEO, HTK. “We knew we needed the right technology to support the growth of financial planning and found that in AdvicePay. We are proud to offer our financial professionals and clients the ability to use this efficient and secure payment solution. In particular, we see tremendous value in the potential to leverage AdvicePay for subscription-based services, which are expected to become increasingly in demand within our industry.”
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