AdvicePay forms single sign-on integration with Envestnet | MoneyGuide

By Pavithra R

AdvicePay, the leading provider of a fee-payment-processing platform designed exclusively for financial advisors, has announced a technology integration with the industry’s most widely used financial planning software provider, Envestnet | MoneyGuide.

Through the partnership, advisors using MoneyGuide will be able to access AdvicePay directly to initiate the billing process for financial planning work they have completed, are in process with, or are just beginning the client relationship.

“As part of our commitment to making advisors’ lives easier and more profitable, we are continuing to expand our technology integrations and partnerships with industry-leading technology platforms. This recent integration with MoneyGuide will provide needed efficiencies and time savings for advisors, enabling them to speed up the revenue collection process while engaged with the client in a financial planning relationship,” said Alan Moore, AdvicePay co-founder and CEO.

Envestnet MoneyGuide focuses exclusively on helping advisors use financial planning to more effectively motivate each client to create, implement and maintain an investment strategy that meets their lifetime financial goals. Its scalable solutions through its innovative configurations, including MoneyGuideOne, MoneyGuidePro, MoneyGuideElite and MyBlocks.

With industry continuously moving towards alternative fee arrangements outside or alongside AUM billing methods, AdvicePay provides a customised, compliant payments platform to enable fee-for-service billing arrangements such as subscription models, retainers, and one-time fees. Through the single-sign-on integration, advisors will be able to directly implement billing through AdvicePay while working in MoneyGuide, saving advisors valuable time.

“We are delighted to expand our integration efforts to include an industry leader like AdvicePay. As firms and advisors continue to build out fee for planning services, charging for the valuable advice that’s naturally part of the holistic planning process, the AdvicePay integration is another step in making the billing process more seamless for clients and advisors,” said Joe Miller, Envestnet | MoneyGuide COO.

Recently, Flyer in partnership with Envestnet | Tamarac launched Co-Pilot OMS enhancements.

Established since 1999, Envestnet is transforming the way financial advice and wellness are delivered. The firm’s mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone.