FINNY AI swaps flat fees for a cut of new assets

FINNY AI has replaced its flat annual subscription with a fee tied to results, WealthManagement.com reported. The platform charges $50 a month plus an annual percentage of the assets that the clients it identifies bring in, for as long as those clients stay. LPL Financial added FINNY to its preferred vendor list, giving its advisors access to the new pricing.

Eden Ovadia, co-founder and CEO, said the average LPL advisor will pay 20 basis points on assets FINNY can claim credit for. That rate drops to 12.5 basis points as more assets flow through. Consider a client worth $1 million that the platform identifies. The first-year fee on that client is $2,000. The $600 annual base is separate. Larger firms negotiate their own terms. Under the old model, FINNY charged a flat $6,000 or $12,000 a year. That price, unchanged since the 2023 launch, came due regardless of growth.

The change follows a year of preparation. Ovadia said FINNY could not bill on success without verifying it. Over the past year, the company integrated with major custodians and portfolio-reporting tools. That gives it direct sight into which prospects converted. Without those integrations, FINNY would have had to ask advisors to report their own growth. That would add exactly the kind of administrative work the platform is meant to eliminate.

The old flat fee had it backwards: small producers overpaid, and stars underpaid. Take an advisor who closes $40 million in a year. At 20 basis points, the fee comes to $80,000. The old top-tier subscription was $12,000. A producer who brings in a few hundred thousand dollars now pays a fraction of the old subscription.

Existing clients are grandfathered into the subscription model, though they can switch. Advisors outside LPL are on a waitlist for the new pricing. One advisor posted the contract on Reddit and asked whether anyone else thought it was insane. The reaction suggests the market is still weighing what an AI marketing platform should get paid for results. What used to be a capped annual cost is now an ongoing claim on future revenue. RIAs have to decide whether the claim is worth the leads.