BillFin
Envestnet BillFin provides cutting-edge, cloud-based advisory billing software tailored for advisors and planners in the industry.
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!”
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
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.
Flexible billing templates
Streamline operations and enhance functionality using billing templates. Define and manage complex fee arrangements effortlessly, automating billing for intricate client relationships.
Intuitive user experience
Enhance fee billing with a modern, interactive user experience. Build sophisticated rules and schedules easily, designed for productivity and user satisfaction.
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
Automate billing for new accounts, intra-period deposits, and withdrawals. Utilize stored special dates for prorated fee calculations, adjustments, and terminations.
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
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.
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.
If you have questions on your BillFin platform, please get in touch with us.
Articles
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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.
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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
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Take the headache out of splitting advisor fees
We’ve already written about the challenges of manual billing.
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Benjamin Franklin famously said, “Nothing is certain but death and taxes.”