BillFin

Envestnet BillFin provides cutting-edge, cloud-based advisory billing software tailored for advisors and planners in the industry.

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Advisory fees

Calculate flat, tiered, and banded AUM fees. Bill in advance or in arrears, based on the end of the period with or without flows, or average daily balance. Easily set up asset exclusions by household, account, asset class, and/or individual security. Advisors and finance professionals can have secure access and controls. Let BillFin help you unlock your potential for negotiating competitive and unique advisory agreements.

Payment files

Create simple CSV/Excel files of your fees to upload to your custodian system and collect your fees quickly. BillFin customizes the file formats for all integrations partners, including many of the custodians in the industry, including Schwab, Fidelity, and RBC.

  • “Prior to signing with BillFin, I was spending three hours (to three days) on my billing process via Excel. I found that I was taking time away from my clients to process their billing, and I didn’t want that. I researched, found BillFin, and signed up immediately. My billing process, from start to finish, now only takes me 30 minutes!”

     

    -Tim Brockman, Brockman Capital Management, LLC

  • “I was quite happy when I discovered BillFin and its billing capabilities. Their simple, yet flexible solution allowed me to set up my own billing quickly and very affordably. Completing my first billing process only took a few easy steps–no instructions required! With the gift of time, I can put greater focus on my clients’ needs instead of excessive and unnecessary back-office tasks.”

    -Marc Jimenez, Managing Principal, CAM Investor Solutions

  • “Prior to finding BillFin, I used to calculate management fees myself, which was an extremely stressful process. Billing consisted of a five spreadsheet progression to make sure no mistakes were made and I could show exactly how the fee was calculated. This was a lengthy process, often taking the majority of a day to complete. BillFin allows me to complete billing within 30 minutes, at the longest.”

    -Justin Castelli, CFP, Founder & Financial Advisor, RLS Wealth Management

  • “Many thanks to BillFin for streamlining our firm’s invoicing process! As a small but growing RIA, we are always looking for cost-effective ways to increase productivity and have more time to work with clients. Technology solutions play a big role, of course, and BillFin is worth every penny. Customizing their software to our specific firm was easy, and it works seamlessly with our custodians to generate professional invoices.”

    -Edwin K. Retter, CMT, Retter Capital Management LLC

  • “The integration of BillFin into our practice has saved us countless hours in calculating our client management fees. Furthermore, the ability to exclude assets from billing and provide manageable discount schedules has provided the flexibility we need to compete with maNy of the larger firms.”

    -Seth Stewart, Managing Partner, Brookstone Financial

Customizable invoices

BillFin is an integrated invoicing solution for producing one of your firm’s most critical client-facing documents. Clear and accurate invoices can help drive revenue and cash collection efficiencies, as well as drive customer service and satisfaction. With BillFin, you can generate professional-looking invoices and fee statements. Through the eDocs add-on, quickly and securely email your clients’ invoices to satisfy state requirements or continue your preferred practices.

Self-service onboarding

Onboard your households, accounts, fee billing rules, and fee schedules quickly with BillFin’s onboarding utility. Help reduce costs with an alternative to expensive, traditional software implementation projects.

 

Key Features

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Flexible billing setup

Customize billing frequency (quarterly/monthly), set default rules for firm and households, choose billing preferences (advance/arrears), apply firm-wide or per household, and define default asset exclusions with optional account-level overrides.

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Flexible billing templates

Streamline operations and enhance functionality using billing templates. Define and manage complex fee arrangements effortlessly, automating billing for intricate client relationships.

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Intuitive user experience

Enhance fee billing with a modern, interactive user experience. Build sophisticated rules and schedules easily, designed for productivity and user satisfaction.

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Reminders and alerts

Bring your fee billing, invoicing, and payment processing to life. User-defined reminders and intelligent system alerts give advisors better and more efficient ways to manage your billing process. Flag accounts that need attention so you can focus on growing your business.

Prorated billing and terminations

Prorated billing and terminations

Automate billing for new accounts, intra-period deposits, and withdrawals. Utilize stored special dates for prorated fee calculations, adjustments, and terminations.

Reporting and analytics

Reporting and analytics

Gain deep insights into your billing set-up and fees with our embedded reporting and analytics and the most important aspects of your client billing arrangements. Export rich data for custom, integrated business reporting.

Fee splitting via Payouts

Fee splitting via Payouts

Effortlessly manage advisor fee splits with our payouts module. Set firm, client, and account-level rules for accurate and timely payouts. Automatically generate detailed Excel reports post-setup. Payouts is available as an add-on to your BillFin license or available as a standalone solution for advisors who only need fee splitting capabilities.
See how BillFin can transform your practice!

Experience a feature-rich ecosystem of first- and third-party technology

With Envestnet’s robust network of integration partners, you can easily create a holistic technology stack that simplifies your day-to-day and helps maximize your value.

Client support the way it should be

If you have questions on your BillFin platform, please get in touch with us.

 

Articles

  • Blog

    Pros and cons of different advisory fee models

    Today there’s a number of ways financial advisors bill for their services. Understanding the differences is important so you can ensure you’re using the best model for your practice.

  • Blog

    Debunking myths about Envestnet BillFin

    Separate fact from fiction with the advisory billing software, BillFin.

  • Blog

    Pricing Innovation is Good, but Manual Billing Can Be Painful

    Successful advisors know that they have to set aside time to explain their pricing structure, or structures, and address billing questions during client meetings.

  • Blog

    How to evaluate a billing solution for your practice

    Advisors spend an average of two hours working behind the scenes for every hour they spend with a client.1

  • Blog

    Take the headache out of splitting advisor fees

    We’ve already written about the challenges of manual billing.

  • Blog

    A guide to SEC audits

    Benjamin Franklin famously said, “Nothing is certain but death and taxes.”