News and Updates
Trends in Fee Billing – From the RIA Startup to the Billion Dollar Firm
Panoramix™ Industry Content Series
Welcome to the second in a series of industry content from Panoramix designed to help advisors succeed in a more challenging operating environment.
Key to the success and survival of any advisory firm are the core revenues it generates as part of its underlying operations. In the wealth management industry, advisory firms are known to be highly profitable enterprises, particularly those that charge an ongoing fee vs. a commission.
Those ongoing fee-based revenue streams are extremely valuable not only in generating current income for owners but also for building long-lasting value that can be monetized upon sale or internal succession upon retirement.
Thus, when establishing a new firm or conducting a periodic strategy review of an existing firm, industry experts all recommend a thorough analysis and benchmarking of fees and billing schedules to ensure that the firm is optimizing their revenues and ensuring a consistent cash flow.
Sapphire Software Services inc., a custom software and business-to-business automation company founded in 2003, developed Panoramix® for financial advisors in 2013 and completes 16 planned releases per year to the product. Sapphire brings business applications to the web, provides consulting services with the best vendors and partnerships, and offers professional development capabilities to automate business processes. Sapphire specializes in business application software development for companies in the financial services sector. Panoramix, its award-winning flagship software tool for portfolio management for financial advisors, focuses on providing multi-custodial performance reporting and client billing, with a wide-ranging additional feature set. Sapphire markets under the name Panoramix Financial. For more information on Panoramix connect with us at www.panoramixfinancial.com.
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