Panoramix Rolls Out New Billing Enhancements

#Lifestyle Wealth

The Panoramix portfolio management and billing platform has announced the availability of several new enhancements and features.

Topping the list of new features available on the billing side of its platform is an Advice Pay interface for those advisors not directly debiting fees at their custodian.

According to the announcement, this is suited to firms adopting fee-for-service financial planning business models and allows these firms to reflect performance reporting net of externally collected fees.

Among other features, there is support for enhanced payout structures to assist in distributing fees efficiently within a firm, and there is now support for PTE 2020-02 for ensuring compliance with the “cannot benefit” clause of Section 406 of ERISA and IRC section 4975.

True average daily balance has been added, which is one of four types of averaging supported when billing in arrears, and based on the actual end-of-day pricing for all holdings not excluded from billing.

Other new features include changes in auditing that allow advisors to see all the settings as used in any prior billing run including execution time and the ability to see fee statement generation details.

Panoramix, built by Sapphire Software Services, launched a “Pro” version of its platform in October, which added basic financial planning, trading and better GIPS compliance components to its core reporting and billing technology.


Only a handful of billing providers serving the RIA segment have remained independent. Most recently, Envestnet announced it had acquired competitor Redi2 Technologies earlier this month.

However, Dallas-based startup Smart Kx, which provides a fee-billing platform for RIAs announced $750,000 in pre-seed funding in May.

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