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AdvicePay celebrates 10-year anniversary
Wednesday, May 13, 2026 — 17:07:09 (UTC)
AdvicePay Celebrates its 10-Year Anniversary, Marking the Evolution of Fee-for-Service Planning from Niche Service to Mainstream Offering
The company is also marking the one-year anniversary of its acquisition of advisor compensation software company AdvisorBOB
BOZEMAN, Mont., May 13, 2026 (GLOBE NEWSWIRE) -- AdvicePay, the industry-leading platform for managing billing, payments, and compliance of fee-for-service financial planning, is celebrating its 10th anniversary, marking a milestone decade in which the company has evolved from a niche offering built to serve an overlooked segment of the market to a comprehensive operations support system, helping registered investment advisors (RIAs) and broker-dealers manage all aspects of their billing and payment needs.
Since its inception, AdvicePay has processed more than 2 million transactions, surpassing $1 billion in lifetime planning fees – a clear signal that the fee-for-service model has achieved institutional scale.
In 2016, founders Michael Kitces and Alan Moore launched AdvicePay to simplify billing and solve for the friction around fee-for-service planning. At the time, Kitces and Moore tried and failed to convince payment processors to develop a solution to simplify the fee-for-service billing process. After being told that the market was too small and compliance too tricky, Moore and Kitces set out to create their own solution.
“We knew that if the industry was going to evolve, we had to be the ones to move it,” Moore said. “Clients valued advice, but the industry made it difficult to pay for advice. We didn’t set out to build another payments tool; we built workflows and tools around how planning fees work in the real world, with agreements, invoices, guardrails, approvals, and audit trails—in short: advisor-led billing, with a home office that can supervise it. Today, the question isn’t whether fee-for-service works – it’s how quickly broker-dealers and RIAs can deploy it across their entire advisor base.”
Over the past decade, the company has also grown beyond payments to include compliance, engagement workflows, and, most recently, advisor compensation.
The anniversary coincides with the one-year milestone of AdvicePay’s acquisition of AdvisorBOB, a leading advisor-compensation software company. This strategic move expanded AdvicePay’s mission to managing the entire revenue lifecycle for advisory firms, from billing clients to paying advisors.
While AdvicePay standardizes the collection of fees, AdvisorBOB streamlines how that revenue is allocated and paid out to advisors. By bringing these two powerhouses together, AdvicePay is addressing the administrative friction for home offices, replacing manual calculation with automated audit trails and real-time visibility.
A decade after Kitces and Moore launched AdvicePay, betting on the widespread adoption of fee-for-service planning, their investment has paid off. Fee-for-service planning is now a mainstream part of the advisory industry. Today, 11 of the top 15 broker-dealers use AdvicePay to manage their fee-for-service planning revenue.
About AdvicePay AdvicePay supports the full revenue lifecycle for advisory firms, from billing clients to paying advisors. The industry-leading AdvicePay platform manages compliance, delivery, and payment processing of fee-for-service financial planning. Downstream, AdvisorBOB manages advisor compensation across revenue sources, replacing spreadsheet-based processes that create operational headaches. More than 3,000 firms and 20,000 advisors use AdvicePay’s products.
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Source: Company press release. 
Categories: Announcement
