# AdvicePay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/advicepay

- Industry: Software
- Headquarters: Bozeman, US
- Website: www.advicepay.com
- Total disclosed funding: $0.5M
- Latest round: Seed (Nov 8, 2017)
- Investors on record: 2

## About

AdvicePay Inc. provides a specialized platform for fee-for-service financial planners, focusing on enhancing billing, payments, and compliance management to facilitate streamlined financial operations.Founded in 2016 in Bozeman, US, AdvicePay Inc. is dedicated to offering billing and payment solutions for financial planners. The company's founders, Alan Moore and Michael Kitces, have a history of engaging in financial technology solutions. AdvicePay has secured funding through four deals, the most recent being in November 2019, when it raised USD 0.22 mn.AdvicePay offers a comprehensive platform tailored specifically for fee-for-service financial planners, focusing on streamlining billing, payments, and compliance management. The core functionalities include the ability to accept various payment methods such as credit cards and ACH for one-time, retainer, or subscription invoices, thereby facilitating convenient payment options for clients. This platform also centralizes financial planning oversight, allowing firms to manage workflows without relying on spreadsheets, which enhances efficiency and compliance. AdvicePay serves a diverse client base, including top broker/dealers and financial planning firms of varying sizes, and its solutions have applications across North America, particularly in the United States, where the demand for compliant and efficient financial services is robust.AdvicePay generates revenue through its subscription-based pricing model, structured to cater to firms of different sizes. The company offers tiered service plans: Enterprise, Professional, and Essential, each designed to meet the varying needs of large firms, small to mid-sized firms, and those just starting with fee-for-service financial planning. Revenue is primarily derived from these subscriptions as well as transaction fees associated with the processing of payments through the platform. This structured approach facilitates ongoing relationships with clients, enabling them to efficiently manage their financial planning operations while maintaining compliance.In November 2019, AdvicePay Inc. raised USD 0.22 mn in venture funding, which will be utilized to enhance its platform offerings and implement new product features designed for financial planners. The firm plans to expand its solutions into new markets across North America, particularly targeting regions with a growing demand for compliant financial services. Specific timelines for new product launches and geographical expansion have not been disclosed.

## Funding rounds

- Seed, Nov 8, 2017, $0.5M — Goodworks Ventures, Front Street Capital Management

## Investors

- Goodworks Ventures — Seed
- Front Street Capital Management (https://capitalatlas.ai/funds/front-street-capital-management) — Seed