Eagan, Minn. July 14, 2022. Panoramix, an innovative advisor technology platform, announced today that the firm has made significant enhancements to its billing technology platform, expanding the ability for advisors to better manage their revenues. These enhanced features combined with industry consolidation and price increases by corporate-owned billing platforms is resulting in strong growth for the only remaining, fully independent and comprehensive billing technology platform serving RIAs.

“Advisors tell us that one of the most important pieces of technology in their operations is their billing system as that is how they collect the lifeblood of their firm – their revenues,” said Chris Hastings, CEO of Panoramix. “These latest enhancements to our core billing functionality address key gaps in the industry as regulatory and advisor business models continue to evolve and change.”

The recent enhancements to Panoramix’s comprehensive billing platform include:

• New Advice Pay interface, for advisors who are not directly debiting fees at the custodian, especially those who are adopting fee-for-service financial planning business models, and also the ability to reflect performance reporting net of these externally collected fees (which is vital to RIA compliance needs)
• Grace amounts at both the fee schedule and the account level to allow smaller clients to establish themselves without fees and then revert to the collection of a standard fee schedule from the first dollar once a threshold hit
• Enhanced payout structures to efficiently distribute collected fees to those in your firm, whether a flat fee, an AUM percentage, or a percentage of the fee collected from the client with simple settings for the firm to receive any remainder
• PTE 2020-02 support to ensure compliance with the “cannot benefit” clause of Section 406 of ERISA and IRC section 4975
• True average daily balance, one of four different types of averaging supported when billing in arrears, and based on the actual end-of-day pricing for all holdings not excluded from billing
• Enhanced auditing to see all the settings as used in any prior billing run including execution time; to see fee statement generation details; and to receive a run-time warning of differences in option settings between this run and your prior one
• Enhanced mid-term billing options to ensure that you accurately collect fees in accordance with your client engagement agreement regardless of the terms

As a result of industry consolidation via mergers and acquisitions of billing technologies, Panoramix is now the only fully independent, comprehensive billing platform remaining in the wealth management industry focused on serving RIAs. Additionally, combined with recent price increases by wealth platforms for billing functionality, Panoramix is experiencing continued accelerating growth. For the last 5 years, the company has been growing at a 42% CAGR, doubling assets on the platform over the last 3 years.

“Advisors are independent for a reason and want their software to be independent as well,” said Hastings. “We’ve remained laser focused on providing the best value in the industry and our pricing reflects that, particularly as competitors are gobbling each other up and raising prices to adjust to their higher cost structures. With our independent ownership, we’ve been able to stay lean and agile, providing a full feature set at a price point that is often a fraction of the cost of similar systems. This competitive advantage is contributing to our growth and will enable us to stay independent, fully focused on delivering value to advisors through our technology solutions.”