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Report: State of Financial Planning

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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.

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