Bookkeeping for financial advisors and RIA firms
An advisory firm's revenue arrives as quarterly fee debits from custodians, calculated off asset values that move every day. Between fee schedules, household breakpoints and multiple custodians, the deposit is right until someone checks it. Meanwhile compliance, E and O insurance and licensing costs have their own calendar. Mispar reconciles every fee calculation to the statement it came from and keeps the firm's own books as disciplined as the ones it manages. Plans start at $229/mo.
Best for: Independent RIAs, solo advisors and small firms with a few advisors who need reconciled fee revenue and clean expense records for compliance.
Reconciled
Fee billing
Matched
Custodians
Visible
Compliance costs
Per person
Advisor revenue
How Mispar keeps your firm's books clean
Industry-specific accounts and categorization, with the reporting scope agreed before work starts.
Advisory fee revenue
Reconcile each quarter's fee billing to the custodial statements and fee schedules behind it, so billing errors surface in the quarter they happen.
Multiple custodians
Keep revenue organized by custodian and matched to each platform's reports, so nothing depends on one blended deposit being assumed correct.
Financial planning and retainer fees
Track flat-fee planning and retainer income on their own lines, so service revenue is visible apart from asset-based fees.
Compliance and licensing costs
Record registrations, filing fees, compliance consultants and continuing education on their own lines, keeping regulatory spend planned.
E and O and business insurance
Keep professional liability and business insurance visible as distinct costs, so coverage decisions are made with the numbers in front of you.
Per-advisor economics
Record revenue and direct costs per advisor where relevant, so compensation and growth decisions use per-advisor numbers.
A simple, predictable process
From kickoff to your first clean close, here is exactly what happens.
Review your current records
We start from your custodial reports, billing system, expense records and bank feeds.
Map the chart of accounts
Fee revenue by type, compliance costs and operating expenses are mapped to an agreed chart of accounts.
Reconcile fees quarterly and books monthly
Each quarter's fee debits are matched to their calculations, and operating activity is reconciled monthly.
Close the month
Monthly statements with an exceptions list and the per-advisor or per-custodian reporting agreed for your firm.
Illustrative example
A firm bills advisory fees across two custodians. On reconciliation, one custodian's deposits run consistently under the calculated billing for three households with outdated fee schedules. The schedules are corrected, the shortfall is billed, and the next quarter's reconciliation is clean. This is an illustration of the method, not a customer case or a guarantee.
Financial Advisors and RIA Firms bookkeeping — your questions
Can you reconcile our fee billing to the custodial statements?
Yes. Each quarter's debits are matched to the fee schedules and asset values behind them, which is how under-billing and stale schedules get caught.
How do you handle multiple custodians?
Revenue is tracked per custodian and reconciled to each platform's own reports, so nothing depends on assuming a blended deposit is correct.
Can you track revenue per advisor?
Yes, when billing and compensation are recorded per advisor. We set up the agreed per-advisor view; consistent account data is what makes it reliable.
How are compliance costs handled?
Registrations, filings, consultants and education are kept on dedicated lines, so the compliance calendar shows up in the books as planned spend.
Does the $229 starting plan cover my advisory firm?
The final plan and scope depend on custodian count, advisor count and billing complexity. We agree that scope before starting; catch-up work is discussed separately.
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