How fees are collected
has changed
QuickBooks
2023
2020
9%
9%
Square
2023
2020
2%
6%
Credit card
2023
2020 N/A
13%
PayPal
2023
2020
2%
7%
2023
2020
12%
9%
Payment technology integrated with
planning software
How advisors collect fees
Directly from accounts we
manage via custodian
2023
2020
27%
54%
Paper check
2023
2020
39%
76%
ACH
2023
2020
15%
29%
There was a 37% decrease in fees
collected by paper checks.
There was a 27% increase in fees
collected directly from accounts
advisors manage via custodian.
Fewer fees were collected via
ACH, Square, and PayPal.
7 FOR HOME OFFICE AND ADVISOR USE ONLY. NOT FOR DISTRIBUTION TO THE PUBLIC.
