AdvicePay Earns Third Consecutive Spot on Inc. Magazine’s ‘List of 5000 Fastest-Growing Private Companies’

AdvicePay, the leading platform for processing payments and overseeing compliance in fee-for-service financial planning, announced its inclusion in Inc. Magazine’s ‘List of the 5000 Fastest-Growing Private Companies’ for the third consecutive year. The company has achieved an impressive 322% revenue growth over the past three years, highlighting its market leadership in the financial planning industry.

AdvicePay secured an overall rank of 1,610 on the Inc. 5000 list, placing No. 4 in Bozeman, No. 2 in Montana, and 195th among the nation’s fastest-growing software companies. This recognition reflects the significant shift towards fee-based financial planning models and the increasing demand for streamlined payment and compliance solutions.

Alan Moore, founder and CEO of AdvicePay, expressed his excitement about the achievement, stating, “Being recognized as one of the fastest-growing private companies in the nation for three consecutive years is an incredible honor. At AdvicePay, we are on a mission to empower financial professionals to add new revenue streams and diversify their practices through fee-for-service planning.”

Founded by financial planning experts Michael Kitces and Alan Moore, AdvicePay has established itself as the industry-leading solution for advisors seeking to get paid for their advice. The platform supports all aspects of fee-for-service financial planning, including billing, compliance, oversight, and agreements. Its comprehensive solution has seen widespread adoption, with 19 of the 25 largest brokerage firms utilizing AdvicePay for fee-for-service financial planning.

In a significant milestone, AdvicePay completed its one-millionth transaction since its launch in 2018. Over the past two years, the company has experienced a 102% increase in advisors joining the platform and a 193% growth in transaction volume. This rapid expansion underscores the platform's effectiveness and the growing market appetite for fee-for-service financial planning tools.

Companies on the 2024 Inc. 5000 list are ranked based on percentage revenue growth from 2020 to 2023. To qualify, companies must be U.S.-based, privately held, for-profit, and independent, with a minimum revenue of $100,000 in 2020 and $2 million in 2023.

AdvicePay’s continued recognition by Inc. Magazine not only highlights its impressive growth but also signifies the broader industry's trend towards adopting fee-for-service models. This shift is likely to influence financial planning practices, promoting more diverse and sustainable revenue streams for financial advisors and firms.