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RIAs have a billing problem. Mainly because the process has always been manual and prone to errors. Enter Smart Kx—the only software system designed specifically to help financial advisors dynamically and accurately manage client contracts and fee billing.
In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Lacey Shrum, founder of Smart Kx, about how her software has helped eliminate the manual process of contract management and billing.
Shannon and Lacey discuss:
- The biggest challenges RIAs face during their billing cycles;
- Why current technologies aren’t sufficient to document or calculate various fee structures;
- How Smart Kx software solves billing challenges through automation; and
- Best practices RIAs can adopt when it comes to policies and procedures around fees and billing.
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About Our Guest:
Lacey is a founder, attorney and technologist. After continually seeing RIA firms fail the common regulator question “do your fees match your contracts?” Lacey developed Smart Kx to automate client contracts, fees and disclosures into one compliant process.
Before founding Smart Kx, Lacey practiced law focusing on RIAs and startups. She represented a successful whistleblower claim with the SEC and testified as a subject matter expert on cryptocurrency matters. She is a frequent speaker on RIA fee billing methods and compliance, automated contacts and bitcoin.