Kitces took note of broker-dealer interest in AdvicePay.
“We built this software originally with RIAs in mind, particularly the ones who had been charging financial planning fees,” he said. “We’ve been surprised about how many hybrid RIAs and broker-dealers have been charging planning fees as well. Not only are a lot of broker-dealers becoming hybrids and shifting to AUM fees, but they’re also shifting from AUM fees to financial planning fees, and that really hasn’t been talked about in the industry.”