SmartKx

RIA firms have a massive problem lurking in their fee collection that costs them dearly. Audits of contract-versus-fees show firms are in breach of contract and their fiduciary duty in 40-50% of their client relationships because the fee does not match the client agreement.

Why? Firms are drafting client fee agreements by hand, translating them into fee systems and relying on Excel to manually calculate and audit fees for their unique client relationships. When the advisor or client makes a seemingly easy change to the fee arrangement, the entire system fails. 

To compensate, firms create elaborate workflows and manual processes with additional administrative staff to fill in the gaps. Firms are left with increased costs, unnecessary and unknown risk, lost revenue and lower firm valuations.

Smart Kx is the only system to automate client fee calculations from the client agreement all the way to the required audit. Fees are 100% accurate and exactly as the client agreed. Teams update fee arrangements within minutes and maintain accurate books and records. This ensures the firm is in compliance, that fees are accurate and contracts are in good order. 

With Smart Kx, fee documentation, calculation, audit and oversight occurs in real time, eliminating errors and preventing disastrous and expensive mistakes and fraud. With Smart Kx, firms revolutionize their billing systems, increase revenues and drive higher company valuations. 

Founded by an attorney and former CCO, Smart Kx gives RIA leaders the tools to delight their clients and flourish in a digital world.