AdvicePay Secures Third Consecutive Ranking on Inc. 5000 List with 322% Growth

AdvicePay, the industry-leading platform for processing payments and overseeing compliance in fee-for-service financial planning, has achieved a significant milestone by securing a spot on Inc. Magazine's 'List of the 5000 Fastest-Growing Private Companies' for the third consecutive year. This recognition underscores the company's continued success and the growing trend towards fee-based models in the financial services industry.

With an impressive 322% revenue growth over the past three years, AdvicePay has demonstrated its market leadership and ability to meet the evolving needs of financial professionals. The company ranked 1,610 overall on the Inc. 5000 list, while also securing notable positions within its geographical and industry categories. AdvicePay placed 4th in Bozeman, 2nd in Montana, and 195th among the nation's fastest-growing software companies.

Alan Moore, founder and CEO of AdvicePay, expressed pride in the achievement, stating, "Being recognized as one of the fastest-growing private companies in the nation for three consecutive years is an incredible honor." Moore emphasized the company's mission to empower financial professionals by enabling them to diversify their practices and add new revenue streams through fee-for-service planning.

The success of AdvicePay is reflected in its widespread adoption within the financial industry. Notably, 19 of the 25 largest brokerage firms now offer fee-for-service financial planning through the AdvicePay platform. This level of industry acceptance highlights the growing importance of fee-for-service models in financial planning and the need for efficient tools to manage these processes.

AdvicePay's growth is further evidenced by its recent milestone of completing its one-millionth transaction since its launch in 2018. Over the past two years, the company has experienced a 102% increase in advisors added to the platform and a remarkable 193% growth in transaction volume. These figures demonstrate the platform's increasing popularity and utility within the financial services sector.

The Inc. 5000 list, which ranks companies based on percentage revenue growth from 2020 through 2023, has strict eligibility criteria. To qualify, companies must have been founded and generating revenue by March 31, 2020, be U.S.-based, privately held, for-profit, and independent. The minimum revenue requirements are $100,000 for 2020 and $2 million for 2023.

AdvicePay's success can be attributed to its specialized focus on the needs of fee-for-service financial planning. The platform offers financial services firms and their advisors efficient workflows designed specifically to support this revenue model. It includes up-to-date compliance and data security management features, all integrated into a unified platform.

The recognition of AdvicePay on the Inc. 5000 list for the third consecutive year not only highlights the company's growth but also reflects broader industry trends. As more financial professionals and firms adopt fee-for-service models, the demand for specialized tools and platforms like AdvicePay is likely to continue growing. This shift in the industry presents opportunities for innovation and growth in financial technology services.

For financial professionals and firms considering the adoption of fee-for-service models, AdvicePay's success and the increasing industry adoption of its platform provide a strong indication of the viability and potential of this approach. As the financial services landscape continues to evolve, tools that facilitate new revenue models and streamline compliance processes are likely to play an increasingly important role.

More information about AdvicePay and its services can be found at https://advicepay.com/. The company's continued growth and recognition on the Inc. 5000 list serve as a testament to the changing dynamics of the financial planning industry and the importance of innovative solutions in driving this transformation.