Alan Moore, CEO of AdvicePay and XY Planning Community, introduced on LinkedIn he can be vacating his place at AdvicePay, the advisor-focused billing and cost workflow platform he co-founded with Michael Kitces in 2016. As soon as the corporate finds a brand new chief government, Moore mentioned he’d be transferring into the function of government chairman of the board.
The corporate posted the CEO job opening, positioned in Bozeman, Mont., the place AdvicePay is predicated, this week. The brand new CEO can be tasked with setting the strategic plan for the following stage of progress “by working with the serial-entrepreneurial founders,” the posting states.
“It has been a tremendous 7 yr journey, and I am trying ahead to the place the following chief of AdvicePay can take the corporate,” Moore wrote on LinkedIn. Kitces’ function with the corporate will not be altering.
“We’re searching for a steadfast CEO who’s obsessed with serving to our crew and clients stay their nice lives, dedicated to doing the proper factor, and energized to assist us scale from $5M of ARR and 25 crew members to 10X each within the subsequent 10 years,” the posting states.
Moore didn’t instantly reply to a request in search of remark.
The agency initially launched in 2016 to supply a systemized way to handle payments for monthly retainer fees for members of the XY Planning Community. Since then, an enterprise model of the service has expanded to bigger purchasers, like Cetera Financial Group, Cambridge Investment Research, Kestra Monetary Companions and LPL Monetary, in addition to being built-in with Envestnet | MoneyGuide.
In April 2021, AdvicePay added a new feature called Deliverables, an oversight device that’s a part of its core providing, serving to enterprises to systematically observe, report and handle the monetary planning documentation produced by their advisors. That characteristic’s launch got here simply days after the agency celebrated $100 million in financial planning fees having handed via the platform.
Later that yr, the startup added an “Engagements” feature to its enterprise platform, designed to make it simpler to standardize customized workflows at enterprises, as they observe deliverables and provide assist for advisors who’ve fee-for-service choices, equivalent to monetary planning.
Final Might, the company hired Bill Winterberg, advisor expertise advisor and founding father of FPPad, as its first vp of economic planning progress.
AdvicePay has raised a complete $3.8 million in funding over 4 rounds, in line with Crunchbase.com.
