Billing software

Anybody have suggestions on advisor billing software program used with multiple custodians, tiered fee schedule and ability to apply discounts. Program should be able to accept an import feed with accounts and AUM


  • edited May 2017
    We are in the middle of a conversion to Orion to use for billing. The conversion has been painful, but we have heard great things about it. We have used Morningstar Office in the past for billing. You can do all of the things you list below for this, but it becomes a bit of a manual process.

    Stephanie Kelm, IACCP ®
    Client Services Associate

    Direct - (585) 497-5006
    Main - (585) 497-5000
    Fax - (585) 497-5001

  • We use Black Diamond for billing with all of the criteria you listed. We've been very happy with it and how flexible it is.

    Laura Tedball
    Chief Compliance Officer

    Advisory Services Network, LLC
    1040 Crown Pointe Parkway, Suite 840
    Atlanta, GA 30338
    Ph: 770-352-0449
    Fx: 770-352-0038

  • We just switched to Tamarac's suite and love it, billing is super easy.

    Cathy A. Simmons, CFP®, IACCP®
    Chief Compliance Officer
    Legacy Wealth Management | Right by you.
    1715 Aaron Brenner Dr., Suite 301
    Memphis, TN 38120
    (o) 901-758-9006 | (f) 901-758-9007

  • Everyone here has noted the large billing solutions available: Orion, Black Diamond (Advent), Morning Star, and Tamarac. Tamarac is technically a TAMP, billing is only one part of their solution. If you would like more information, we have a great infographic on financial technology and a billing whitepaper that you can use to help make your decision. You can download them on our resources page. Link:

    Based on my experience, I would suggest considering the following things as you continue your due diligence.

    - How is the solution priced and how will it fit with your business model? (per account, basis points, Per user, etc.)
    - Is information needed by the custodian to run billing available via an export from the system?
    - Can you use the billing solution to create invoices? (all of the solutions noted above can)

    Best of luck in your search.
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