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AdvicePay Raises $500K For Payment Processing Startup

Bozeman, Montana-based AdvicePay, a startup which is providing payment processing services specifically for financial advisors--handling their fee-for-service financial planning billing--has raised $500,000 in a funding round, the company said Wednesday. The funding was led by local Missoula investors Goodworks Ventures and Front Street Capital, along with angels. AdvicePay offers up a system which facilitates fee-for-service financial planning billing. The startup was co-founded by Alan Moore and Michael Kitces. The company said its payment service ensures compliance with RIA custody regulations and avoid triggering custody audit requirements.


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