FINNY, the AI-powered prospecting platform for financial advisors, is rolling out a pricing model Monday that ties its fees directly to the growth it helps generate – a structural bet the company says makes it the first non-custodial platform in wealth management to charge this way.
Under the new "Pay-as-you-Grow" model, advisors get unlimited access to FINNY's platform for $50 a month, plus a small share of assets under management that the platform helped bring in, paid only for as long as those clients stay with the advisor. It replaces FINNY's prior flat annual subscription of $6,000 or $12,000.
"Growth in this industry has been rigged for a long time – we're correcting that," said Eden Ovadia, FINNY's co-founder and chief executive, in a statement Monday. "At $50 a month, advisors get every tool we offer from day one. We only succeed when they grow, creating a true partnership where our incentives stay aligned over the life of the client relationship."
The concept isn't entirely new to the industry. Referral programs at RIA custodians like Schwab and Fidelity have operated on a similar performance-linked basis for years, and Ovadia said those programs move trillions of dollars into the RIA channel annually. But access has historically been reserved for a select group of the largest RIAs, typically requiring minimums, custody arrangements and lock-in agreements.
"We just wanted to be able to offer a similar type of program, but for the tens of thousands of firms that are not part of those," Ovadia told InvestmentNews in an interview. FINNY's version, she explained, comes with no minimums, no requirement to move custody and no obligation to change how a practice is run.
Victoria Toli, FINNY's co-founder and president, said the pricing shift reflects the company's confidence in its own product as much as its commitment to advisors. "We're kind of putting our money where our mouth is," Toli told InvestmentNews. "From our perspective, if we don't deliver anything, then we don't deserve to get paid."
At $50 a month, Ovadia said the fee "barely covers our cost" – FINNY spends north of millions of dollars annually on data licensing alone – making the new price model more of a high-conviction bet on the advisory industry's growth potential rather than just a margin play.
The timing lands as advisor movement toward independent channels continues to reshape the RIA landscape, a trend FINNY's leadership said only reinforces the need for growth tools that don't require a large investment of capital upfront.
"It has actually never been more important for firms to rethink their growth playbook... because as we all know, they can no longer just rely on referrals," Toli said, referring to advisors' traditional reliance on referrals from clients and centers of influence to help with business development. "Referrals are... pretty taxing on the advisor's time and also unpredictable, unscalable."
How would FINNY respond if its competitors were to start offering a similar pricing model to advisors? Ovadia appeared unbothered at the suggestion, arguing the company's data corpus – built from what she described as millions of advisor-prospect interactions over three years – and its proprietary matching model give it a moat that would be difficult for competitors and new entrants to get past.
"We've been around for three years and have been serving thousands of advisors for years at this point," Ovadia maintained. "Our F-score model at FINNY knows better than any other model in the industry right now which advisor is going to work the best with which potential prospect. There's no one else who's built a model quite like this that has visibility across multiple firms."
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