The Daily Brief
Michael Kitces Photo by Jen Mastrud
XYPN co-founders Michael Kitces (right) and Alan Moore

AdvicePay Added to Veo One

AdvicePay co-founders Michael Kitces and Alan Moore say there’s the potential for the more than 6,000 advisors on TD Ameritrade Institutional to get paid faster.

Payment processing platform AdvicePay is now integrated with TD Ameritrade Institutional’s Veo One, according to AdvicePay. The platform is available via a single sign on within TD Ameritrade Institutional’s portal.

Advisors using both AdvicePay and Veo One will be able to bill directly within Veo One, expediting the payment process, said CEO Alan Moore. He co-founded the company along with Michael Kitces to facilitate a compliant fee-for-service billing model.

“Current billing systems are not flexible enough to avoid compliance issues around custody,” added Moore.“As the fee-for-service movement gains momentum, more and more advisors are working with clients by directly charging for advice outside of an asset management fee.” AdvicePay is designed to address that situation.

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