The advisor CRM system is rapidly becoming the ‘hub’ of the financial advisor technology stack, and we are thrilled to integrate directly into Salesforce as the industry leader amongst larger financial services enterprises, and with XLR8 and its financial services overlay for RIAs.
BOZEMAN, Mont. (PRWEB) February 18, 2021
AdvicePay, the leading payments platform for fee-for-service financial planning designed exclusively for financial advisors, announced today a new technology integration with Salesforce, one of the most popular CRM systems amongst financial services enterprises. As part of this new data integration, AdvicePay’s technology is also accessible within XLR8, a leading financial services Salesforce overlay technology application for independent RIAs.
Financial advisors working with Salesforce and AdvicePay are now able to view account-level invoice and subscription data directly within Salesforce client records. Additionally, advisors are also able to add, link, and update AdvicePay information directly in Salesforce, saving time, clicks and improving efficiencies for invoicing and billing, as well as business reporting.
“The advisor CRM system is rapidly becoming the ‘hub’ of the financial advisor technology stack, and we are thrilled to be able to integrate directly into Salesforce as the industry leader amongst larger financial services enterprises, and with XLR8 and its financial services overlay for independent RIAs,” said Alan Moore, CEO and co-founder of AdvicePay. “These integrations will make it easier for mid-to-large sized advisory firms adopting fee-for-service financial planning to better execute billing and facilitate business reporting at scale.”
As part of the integration, users in Salesforce will be able to view the most current invoice information and subscription information so that they can respond quickly to client requests and be notified of any failed payments, disputes, or cancellations. Additionally, Salesforce users will be able to automatically upload client information directly into AdvicePay as well as initiate invoice creation, all without having to leave the Salesforce screen, while also being able to view invoice history and generate associated reporting.
"We are delighted to grow a strong and long-standing partnership with the AdvicePay team following the release of this integration," said Jennifer Thomas, Business Development Manager at XLR8. "We are always looking to partner with those committed to providing tools that enhance and simplify our clients' experience through unique offerings, integrations, and development. It's a pleasure to join forces with AdvicePay, and we are excited for our clients to benefit from this integration."
“One of the biggest blocking points for the adoption of fee-for-service financial planning is the practical challenge of managing the billing process itself - one that is largely automated for commission and AUM compensation models, but until AdvicePay, it was not feasible for most advisory firms, especially enterprises operating at scale,” noted veteran financial advisor and co-founder of AdvicePay, Michael Kitces. “As the industry continues its shift towards fee-for-service and subscription models to expand its reach to Gen X and Gen Y clients, our integration with Salesforce will make it easier for financial advisor enterprises to implement their next-generation client growth strategies, profitably and scalably.”
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About AdvicePay
Established by well-known financial advisors Michael Kitces and Alan Moore, AdvicePay is the only billing and payment processing platform created specifically for fee-for-service financial planning. Financial professionals benefit from efficient invoicing and payment workflows designed exclusively to support their businesses, including up-to-date compliance and data security management. Users can issue agreements for client e-signature, accept ACH and credit cards bill hourly or one-time fees, or establish recurring retainer or subscription billing compliantly – all through the AdvicePay system.