AdvicePay, a billing and compliance platform for advisors, announced that it has promoted Kelsey Lewis to president, where she will work closely with founder and Chief Executive Officer Alan Moore.
The Bozeman, Mont., fintech, whose platform allows advisors to process payments and oversee compliance of their fee-for-service financial planning, said in a press release yesterday that Lewis joined AdvicePay in 2021 as its first head of head of customer success. Working with the industry’s largest RIAs and broker-dealers, she helped AdvicePay grow transaction volume 36% while maintaining a 100% enterprise customer retention rate, according to the release.
Publicly launched in early 2018, AdvicePay said last November it surpassed one million transactions on its fee-for-service platform, saying the milestone reflects “the dramatic shift in alternative non-AUM advisor fee models.” In addition, the fintech earlier this year recorded more than 10,000 paid users on its platform and expects to double that number in the next three years. Users include a mix of individual advisors and larger RIAs. AdvicePay has contracts with 19 of the top 25 broker-dealers, counting such heavyweights as LPL Financial as partners, the company said.
In the press release, Moore said Lewis was promoted after a “thorough” internal and external search and by unanimous approval of the board.
“I look forward to working with her to create a blueprint for delivering on our ambitious growth strategy as industry and consumer demand for fee-for-service planning continues to grow over the next several years,” he said in a statement.
Before joining AdvicePay Lewis held top customer-facing roles at a consumer goods and a learning management software company.
By promoting her to the No. 2 spot in the company, “AdvicePay and its board are demonstrating their customer-centric focus and commitment at the highest level,” Lewis said in a statement. “I am committed to nurturing the collaborative and people-first culture of AdvicePay as we continue to grow.”