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Credit Card Processing for Investment Advice | Financial Advisor

Since 2004, The Transaction Group (TTG) has been providing many types of businesses with merchant solutions, including credit card processing for investment advice firms.

If you are a financial advisor, you live by the rule that the interests of your clients come first. With your industry knowledge, you furnish your clients with valuable advice, and tailor investment plans to their personal needs based on their financial goals.

Evaluating market risk, deciding to invest in stocks, securities or commodities, diversifying 401K portfolios, asset protection and managing personal finances are invaluable services that your clients depend upon. By properly managing risk, your efforts yield positive returns and keep your clients happy.

It goes without saying that the level of service you provide your clients is important for the relationship. Are you offering everything you can? Here’s an idea; offer a convenient way for your clients to pay for your services. Credit card processing for financial advisors can be easily set up and is a value added service that your clients will enjoy.

These days most people enjoy the convenience of credit cards. They are becoming more widely accepted and businesses that have traditionally billed their clients are beginning to realize some of the benefits of accepting credit cards:

• Savings on stock, printing, postage
• Savings on administrative duties
• Automation of accounts payable and receivable

Credit card processing for financial advisors simplifies the process for both your clients and your business. You can have your clients’ recurring payments processed at specified times (weekly, bi-weekly, monthly etc.) and not have to wait to receive checks and make a trip to the bank to deposit their checks.

The Type of Merchant Account Required

As a financial advisor, you are very familiar with the word “risk”. This word is a favorite among processing banks that provide merchant accounts to various businesses. A merchant account is classified as low risk or high risk.

Low risk merchant accounts are typically those available to retail stores and restaurants. High risk merchant accounts are more commonly seen in ecommerce and especially service type businesses. Credit card processing for investment advice businesses falls into the high risk category.

The risk lies in the business model. A few components of the business model can include:
• the particular services you render
• your advertising and promotion methods
• the level of customer support you offer
• the fees you charge

In addition to the business model, the processing bank considers other factors, one of the biggest being the risk of chargebacks by clients. As a financial advisor with a strong relationship with your clients, the likelihood for chargebacks is probably small or non-existent. However banks don’t take these relationships into account when evaluating the risk of chargebacks.

Without a processing history, it’s nearly impossible to convince the bank that your business will have a perfect processing record, free of chargebacks. At first your rate will be higher, but after developing a good track record, you’ll have some leverage to negotiate a better rate at a later time.

Additional provisions may be required by the bank in order to diminish the possibility of fraud activity. Some provisions include extended funding waiting times, a set amount of cash reserves, or a maximum transaction amount.

At TTG, we understand the intricacies involved in applying for a high risk merchant account. Like the thousands of businesses we’ve helped over the years, our goal is to make it easy for you. We have banking partners throughout the world and are able to secure the most competitive rates for high risk businesses.

If you as a financial advisor are interested in setting up credit card processing for your investment advice services, click the appropriate link below. Need more information? No problem. Fill out the online form, or call us now.

Contact Us

Need immediate assistance? Complete this form or call us today at 888-383-8056.

Are you shopping for a better rate? Let us save you money!

Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!

Why do businesses choose to work with The Transaction Group? 

  • We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
  • We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
  • We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
  • We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
  • We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
  • We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.