Billing Software for Financial Advisors

For many financial advisors, invoicing and billing can be one of the most tedious parts of the job.  As financial advisors add new services and introduce new fee models, the added levels of complexity become extremely inefficient to manage via spreadsheets and even more difficult when it comes to maintaining compliance.

As more financial advisors begin to stretch past the traditional AUM billing model to stay competitive, new headaches are created when it comes to accurately billing your clients in a transparent way. To help financial advisors to stay flexible and competitive in this ever-changing landscape, we created BillFin(™), a simple and cost-effective cloud-based advisory billing software.

Why Financial Advisors Choose BillFin

BillFin(™) is a simple, cost-effective billing software for financial advisors. BillFin, reporting systems, and custodians. With BillFin you have the ability to:

  • Calculate flat, tiered, and banded AUM fees
  • Bill in advance or in arrears
  • Bill on period end positions or average daily balances
  • Bill on client assets held with other custodians
  • Set up asset exclusions by household, account, asset class, or individual securities
  • Use the simple CSV/Excel files to upload to the custodian’s billing system
  • Create customizable, professional-looking invoices that are clear, accurate, and branded
  • Drill down into your billing and fees with embedded reporting and analytics

Getting setup with BillFin is fast and easy. With our self-service onboarding, you can quickly import or sync in your accounts, households, billing rules, and fee schedules. This allows you to skip the tedious, oftentimes costly onboarding process typical of traditional software products and begin streamlining your advisory billing practices within a few hours of signing up.

Best of all, unlike other financial advisor billing software options, BillFin is simple-to-use, streamlined, and cost-effective. You do not have to sign up for a suite of costly tools and services just to get access to the one feature you need.  BillFin was designed to integrate with your existing custodian and advisor services to help streamline your financial advisory practice without creating additional complexities or processes.

BillFin Features That Financial Advisors Love

BillFin comes with a number of powerful features that allow financial advisors to streamline their billing and invoicing processes and improve the overall efficiency of their firms.

Flexible Billing Setup & Billing Templates

With BillFin, financial advisors can easily create rules that can implement quarterly or monthly billing, or both, at the firm or the household level. You can even implement billing rules to handle billing in advance, arrears or both.

You can also improve your operational efficiencies by using the built-in billing template reports feature.  This will allow you to create flexible, reusable billing rules that will help you automate the billing process for even your most tricky client relationships.

Prorated Billing 

BillFin will automatically act on user-defined dates to calculate prorated fees for accounts that incept in the middle of a billing period. BillFin can also calculate prorated adjustments when accounts experience meaningful deposits and withdrawals.

Embedded Reporting & Analytics

With BillFin’s reporting and analytics, financial advisors can gain insights into the most important performance indicators around client billing arrangements and your revenue. You can also use our rich data exports to populate your own in-house data warehouses for an even more custom and integrated business reporting experience.

Fee Splitting Options

Financial advisors can also use our AdvisorPay module to accurately calculate and payout advisor fees. Fees can be split at the firm level, client level, and even the account level to ensure that fees are paid quickly and effortlessly.

Simple & Intuitive User Experience

Calculating fees with spreadsheets is complicated and time-consuming. BillFin offers financial advisors a modern, intuitive user experience that truly simplifies the process of advisory billing. Countless hours were invested into market research, user testing, and product enhancements so that we could develop a product that contributes to your team’s overall productivity and job satisfaction.

Outstanding Customer Service

Among all of the features and benefits that BillFin offers financial advisors, the one our clients appreciate most is our outstanding customer service. Unlike other billing solutions for financial advisors, we have put a priority on providing informed, efficient customer support to our users.

With BillFin, you won’t have to deal with complex phone systems, uninformed operators, and long wait-times.  When you call BillFin support, you’ll be speaking directly to a knowledgeable representative based in the United States. Our customer service reps are able to access your accounts, troubleshoot your concerns, and provide information and feedback right there on the call.

BillFin Integrates With The Tools You Use

BillFin integrates with many of the leading service providers  and custodians used by registered investment advisors including:

Integrating with your systems is fast and easy. Most integrations can be completed with a few clicks of the mouse or by having our customer support team facilitate the setup.  Want more information on how this works? Schedule a demo today to see BillFin in action.

Ready To Give BillFin A Try?

If you’re ready to drop the spreadsheets and streamline your financial advisor practice, it’s time to give BillFin a try. You can set up some time to take a guided tour with one of our customer success representatives, or even sign up for a free 7-day trial – no credit card needed! Simply click the button below to get started.