How do we offer fee-for-service financial planning? How do we accept payments from clients on the platform?

With Stripe Integration you can quickly offer a fee-for-service financial planning option to your clients. You will set up your own Stripe account. Stripe can only be used for fee-for-service financial planning payments and not for brokerage fees, insurance fees etc.

With the Stripe integration you can create a number of different types of payment options including an initial payment, installment payments, or subscription payments.

You must be on a paid account to use the Stripe integration.


Stripe Application

Start by completing the Stripe application... if you already have a Stripe account we strongly recommend setting up a "sub" account on Stripe specifically for the platform. This helps keep your platform payments separate from your other business payments.


Tax Rates

Next step is to set up your tax rates by province. Start by choosing the province (like ON for Ontario), then add a description (like ON HST), then add the rate (13%). Then click "Add".

When/if tax rates change in the future you can archive an existing tax rate by double clicking the "Active" text and then add a new one for that province. The archived rate still exists in Stripe for past clients and may require manual updates to past clients.


Service Levels

To add a new Service Level click the "Create New" button.

The initial three fields are used to display the Service Level on the platform itself. These can always be changed in the future.

  • Payment Page Display Name: This is the name of the service level on the platform.
  • Platform Order: This is the order in which the service level shows up on the Payment page.
  • Platform Description: This is the description shown below the name and provides prospective clients with a short overview of the service level.

The next set of fields are used to set up the Service Level in Stripe. THESE CANNOT BE CHANGED IN THE FUTURE! But if you want to change your pricing you can always archive an old service level and create a new one. Archived service levels still exist in Stripe for past clients and may require manual updates to past clients.

  • Initial Engagement Name: This is the name in Stripe for the initial engagement. For example "Custom Retirement Plan".
  • Initial Payment: This is the initial payment Stripe will charge the client. If you are splitting your payments over a few installments then enter only the first payment here. For example if your "Custom Retirement Plan" is $3,000 split over 3 payments then enter "$1,000"
  • Monthly Installment Payment: This is the monthly installment payment, it is charged on a monthly basis on the same day as the initial payment. For example, enter "$1,000" for the two subsequent installment payments. If there are no installments then enter $0 here.
  • Number of Installments: This is the number of installment payments (NOT the total number of payments). For example, if we want to split the $3,000 cost into 3 payments then there will be one initial payment of $1,000 and two installment payments of $1,000, so we would enter "2". If there are no installments then enter 0 here.
  • Ongoing Engagement Name: This is the name in Stripe for the ongoing engagement. For example "Custom Retirement Plan: Ongoing".
  • Monthly Subscription Price: This is the ongoing subscription payment Stripe will charge the client. For example "$95" would be a retainer cost of $95/month.
  • Number of days before subscription begins: If you have an initial engagement then you can automatically start the ongoing subscription after the initial engagement ends. For example, our initial engagement for the "Custom Retirement Plan" was 3-months so we would have the ongoing engagement automatically start after 90-days.