Bozeman, Mont., Dec. 17, 2025 (GLOBE NEWSWIRE) -- AdvicePay, the industry-leading platform for managing billing, payments, and compliance of fee-for-service financial planning, today announced that it has processed its 2 millionth fee-for-service transaction, which represents more than $1 billion in lifetime financial planning fees.
The milestone highlights the accelerating adoption of fee-for-service planning across the registered investment advisor (RIA) and broker-dealer marketplace. AdvicePay crossed $500 million in cumulative fees processed in 2023, doubling that total in just two years. As the demand for accessible, client-centric financial advice grows, more firms are turning to alternative fee structures to reach new markets and drive sustainable growth. According to Cerulli, more than one in five advisors (21%) report charging for financial planning—a figure that has more than doubled since 2018.
“Hitting this milestone is proof of what we’ve seen firsthand for years: people want real financial advice, and they’re willing to pay for it when it’s delivered in a way that fits their lives,” said Alan Moore, CEO and Co-Founder of AdvicePay. “Financial planning can be truly life-changing, and these numbers show that both clients and advisors are embracing a new model that works. It’s not just about technology, it’s about making it easier for advisors to serve more people and to do it sustainably.”
AdvicePay was founded in 2016 by Moore and Co-Founder Michael Kitces after traditional payment processors declined to support the unique needs of financial advisors. What began as a solution for independent advisors has since evolved into the industry standard for RIAs and broker-dealers seeking to scale fee-for-service while maintaining rigorous compliance.
Today, AdvicePay serves a rapidly growing base of enterprise firms that recognize scaling fee-for-service planning requires more than just payment processing. The company’s leadership and impact were recently recognized when AdvicePay won a ThinkAdvisor Luminaries Award for Industry Disruption. By automating workflows and equipping back-office teams with built-in compliance tools, AdvicePay enables firms to redirect resources to revenue-generating activities and deliver a superior client experience. For example, one firm was able to reallocate several full-time employees who previously managed manual check processing and reconciliation.
Earlier this year, AdvicePay released its third annual Fee-for-Service Industry Trend Report, based on over 461,000 transactions processed in 2024, up from 380,000 the previous year. The report found that 85% of all invoices were subscription-based, up from 83% from the previous year, underscoring a shift toward recurring, predictable revenue streams.
Despite common misconceptions, fee-for-service planning is not replacing assets under management (AUM) fees but providing a complementary and stabilizing revenue source. In periods of market volatility, fee-for-service models offer advisors a more predictable income stream, helping firms reach new, underserved demographics and secure steady cash flow even as AUM fees fluctuate.
About AdvicePay
AdvicePay is the industry-leading platform for overseeing the compliance, delivery, and payment processing of fee-for-service financial planning. More than 3,000 firms and 13,000 advisors benefit from efficient workflows designed exclusively to support their fee-for-service financial planning revenue, including up-to-date compliance and data security management, all in one unified platform.
Media Inquiries: AdvicePay Shannon Beck 406-412-2047 media@advicepay.com
