RightCapital, a financial planning solution provider, has launched Rightpay, a web-based service that is integrated with RightCapital portal.
Rightpay seamlessly integrates with the adviser’s branded RightCapital portal, through which clients can review, approve and pay for the financial services via credit card.
The service also enables the advisers to collect periodic or one-time payments for financial planning service.
Available to only RightCapital subscribers, the service enables advisers to track and manage the completed and outstanding payments of their clients.
Commenting on the new feature, RightCapital CEO Shuang Chen said: “More and more advisers are offering financial planning services to their clients, for either an upfront fee and/or monthly ongoing fees.
“RightPay enables advisers to deliver a financial plan and collect payment for the plan via a single RightCapital financial planning portal. This seamless client experience is important. When a client is completing a payment via the RightCapital financial planning portal, they also see their financial plan and are able to see the value in what they are paying for.”
Rightpay is claimed to help in streamlining payments for existing fee-for-service practices whilst minimising hurdles to offering financial planning as a service.
Furthermore, it facilitates financial planning services for clients who do not qualify for AUM fee structure.
RightCapital has been adopted by AdvicePeriod and Independent Financial Group (IFG) as their enterprise planning solution and are also incorporating RightPay into their organisations.