Curated News
By: NewsRamp Editorial Staff
April 23, 2025
AdvicePay's Trend Report Reveals Surge in Subscription-Based Financial Planning
TLDR
- Advisors can gain a competitive edge by leveraging subscription-based models for stable revenue streams in volatile markets.
- AdvicePay's Trend Report shows a rise in subscription-based models with increased fees, reflecting changes in client behavior.
- Fee-for-service planning offers stability and new opportunities to reach underserved demographics, enhancing financial advisors' revenue strategies.
- AdvicePay's report reveals a growing trend in subscription-based financial planning, emphasizing the industry's shift towards stable income streams.
Impact - Why it Matters
This news highlights the shift towards subscription-based financial planning models, offering stability for advisors in volatile markets. The findings underscore the importance of diversifying revenue streams and adapting to changing client preferences.
Summary
AdvicePay released its third annual Fee-for-Service Industry Trend Report, highlighting a growing trend in subscription-based models for financial planning. The report shows that 85% of invoices were subscription-based in 2024, with an increase in average monthly fees. The shift toward digital payments and higher subscription fees reflects changing client behavior.
The report emphasizes that fee-for-service planning complements assets under management fees, providing advisors with a stable income stream. The popularity of this model is evident in the significant increase in transactions on the AdvicePay platform, reaching over $838 million in financial planning fees since its launch.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, AdvicePay's Trend Report Reveals Surge in Subscription-Based Financial Planning
