Professional Services
Best POS Systems for Financial Advisors
Financial advisors need compliant payment solutions for advisory fees. The right system handles AUM-based billing, flat fee invoicing, and retainer payments while maintaining proper documentation for compliance.
Common Challenges
•AUM-based fee calculation
•Quarterly billing cycles
•Compliance documentation
•Client payment tracking
•Professional invoice appearance
•ACH for larger fees
•Fee disclosure requirements
Must-Have Features
- ✓Professional invoicing
- ✓Recurring billing
- ✓ACH bank transfers
- ✓Payment documentation
- ✓Client records
- ✓Basic reporting
Nice-to-Have Features
- ○Portfolio software integration
- ○AUM fee calculation
- ○Client portal
- ○Compliance report generation
- ○Automatic fee invoicing
Top Picks for Best POS Systems for Financial Advisors
Frequently Asked Questions
How do RIAs typically collect fees?
Most RIAs deduct fees directly from client accounts (custodian handles this). For clients paying out-of-pocket or for financial planning fees, use invoicing with ACH for lower fees.
Do I need special compliance for payment processing?
Standard payment processing doesn't require special compliance beyond your existing RIA requirements. Just ensure proper fee disclosure and documentation as required by SEC/state regulations.