Directory · Middle and back office
Fee billing
35 products carry this category. Categories are tags, so several of these also appear elsewhere.
What is meant by Fee billing?
Calculation and invoicing of management and performance fees across accounts and share classes, applying tiered rates, breakpoints, hurdles, high-water marks and fee sharing arrangements.
Who uses Fee billing?
Finance and client service.
What gets confused with Fee billing?
Fund accounting, which accrues fees within the net asset value. Billing is the calculation and collection of what the client actually owes.
What should you ask a vendor about Fee billing?
Almost every firm has a handful of bespoke fee arrangements. Ask how those are handled without a spreadsheet beside the system.
This definition is Buyside Fintech’s own editorial work, not a vendor’s. The products listed below carry the sources we read.
Fee billing products
35 PRODUCTS
NAVquant5w155 SASoftware that calculates net asset value and fees for alternative investment funds, actively managed certificates and similar vehicles.AdvicePayAdvicePayBilling, invoicing and payment collection for fee-for-service advice, with compliance workflow and advisor compensation reporting.FirmViewAllvue SystemsCarry, co-investment and compensation management with waterfall and carry distribution for private funds; Allvue's site states the product came with its acquisition of PFA Solutions.AltruistAltruistSelf-clearing custodian built on its own software, bundling custody with account opening, trading, portfolio reporting and fee billing for independent advisory firms.OpterraArcesiumPost-trade and investment operations platform covering unified accounting, allocations, reconciliations and treasury; paired with Limina for front-to-back.Asset VantageAsset VantageFamily office platform that joins a general ledger to portfolio performance, explicitly covering CBOR, IBOR and ABOR plus partnership accounting.RevportBroadridge Financial SolutionsCloud fee billing platform that calculates, validates, accrues, invoices and reconciles management, performance, advisory and custodial fees for institutional asset and wealth managers.CevicheCevicheAutomates fund expense allocation across multi-entity fund structures according to LPA rules and writes audit-ready journal entries into the general ledger.FAIR (Fee Allocation Incentive Reporting)ColmoreIndependent validation of the management fees, partnership expenses and carried interest that LPs are charged by private fund managers; colmore.com now redirects to BlackRock's eFront Insight page, so the service appears to have been folded into eFront and I could not confirm its current owner or product name.d1g1t revenue management and billing solutiond1g1tBilling module within the d1g1t wealth management platform that calculates multi-currency tiered fees and runs fee generation, approval, processing and invoice delivery for advisory firms.BillFinEnvestnetLightweight advisory fee billing for RIAs and independent advisors, the entry tier of the Envestnet billing line.Revenue ManagerEnvestnetEnterprise revenue and fee billing engine for asset managers with a rules engine for negotiated and tiered fee terms, multi-currency calculation and general ledger integration.Wealth Manager (billing)EnvestnetHigh-volume client billing, fee disclosure and payout processing for managed account programs at wealth managers and broker-dealers.DatabankFIA TechReference data for exchange-traded derivatives across 41,000 products and 75 exchanges, covering position limits, exchange and clearing fees, contract specifications, cross-reference symbology and corporate actions.FinFolio Billing & PayoutsFinFolioFee schedules with tiers, flat fees, aggregation and discounts, plus payout distribution to managers and other stakeholders.F|S Fees & CommissionsFinsoftCalculation engine for fund-industry fees and commissions that computes payables and receivables and produces payments, invoices, statements and credit notes.First RateFirst Rate, Inc.Performance measurement, attribution, GIPS composites and client reporting for banks and wealth managers; the site names sub-brands First Rate Ventures, Vantage and Finantech but not a single product name for the core performance engine.FundwaveFundwaveFund accounting and LP reporting for venture, private equity and SPVs, including carry and management fee allocations and portfolio IRR tracking.HRSoft Carried Interest ManagementHRSoftCompensation management platform module for carry allocation tracking, waterfall calculations, vesting logic and participant distribution reporting.AdvantageFeeInvestCloudRevenue management and fee billing module within the InvestCloud platform; the vendor page returned no readable content, so this entry rests on a search result description only.Juniper Square Fund AdministrationJuniper SquareFund accounting, treasury and waterfall modeling across the private fund lifecycle, covering fee and distribution calculations for GPs.LemonEdgeLemonEdgePrivate markets accounting engine with event-driven transactions, multi-ledger allocation paths and embedded waterfalls; raised a $21M Series A led by Blackstone with BNY in July 2026.ResolvrLSGAutomates expense allocation across funds and legal entities, vendor spend management and legal bill review, aimed at SEC expense misallocation risk at hedge funds and private equity firms.MaybernMaybernPrivate fund operating system that configures custom fee bases and fee breaks to calculate management fees, and runs waterfalls, carry and capital calls; raised a $50M Series B and $76M in total per Forbes.Meritsoft Asset Servicing Claims ManagementMeritsoftPost-trade automation for the money side of corporate actions, including asset servicing claims, interest claims, transaction tax and CSDR penalties.Meritsoft Trade Tracking and Exception ManagementMeritsoftRules-based automation for settlement fails and exceptions, CSDR penalties, interest and asset servicing claims, and trade-related fees and taxes.NavableNavableCloud platform for carried interest, GP compensation and employee co-investment, automating carry waterfall calculations, vesting and forfeitures.Orion Portfolio Accounting (billing)Orion Advisor SolutionsAdvisory fee billing runs inside Orion's portfolio accounting product alongside performance reporting and trading.PureRevenue PlatformPureFacts Financial SolutionsRevenue management platform for wealth and asset managers covering fee and billing calculation, advisor compensation and revenue reporting.qashqade Allocation Calculation EngineqashqadeSpecialist allocation suite for private funds covering waterfall calculation, GP incentive and carried interest calculation, and independent LPA validation of the results.RidgelineRidgelineCloud platform with order management, electronic trading, compliance, accounting and client reporting in one system; recently rebranded from ridgelineapps.com to ridgeline.ai.BluePrint Fee BillingSTP Investment ServicesFee billing delivered as software plus outsourced service on STP's BluePrint operations platform for RIAs, alternative managers and private fund advisers.Market Data Spend AnalyticsSubstantive ResearchThe same price benchmarking applied to market data contracts, covering index providers, rating agencies, pricing and reference data, analytics and ESG vendors.Research Spend AnalyticsSubstantive ResearchPrice benchmarks for investment research, letting a buy-side research procurement team compare what it pays banks, brokers and independent providers against what comparable firms pay.Optimize SpendTRG ScreenEnterprise expense management for market data, research and subscription spend, tracking over $10 billion of subscription cost for financial institutions.