BaySys Technology BARS

BaySys Technology makes BARS, a billing and reporting application that advisory firms use to calculate management fees and produce invoices and custodian fee files. It targets firms with complicated or non-standard fee schedules.

BARS imports data from portfolio management systems or CSV, text and Excel files, supports master fee schedules, household and family billing, one account paying fees for others, and prorated contributions and withdrawals. It can calculate fee types other than management fees, keeps historical data so past calculations can be reproduced for audits, and offers custom invoices and on-demand reports. BaySys also sells a Schwab custodial interface for Advent APX and Axys, custom Advent reporting and outsourced services.

Based in Danville, California; principal Larry Baker previously worked at Advent Software. Annual licences are priced by account count, average account value and billing complexity, plus a one-time implementation fee of 20% of the annual licence.