After more than a dozen years of creating content under the
On Wednesday, Winterberg shared with followers and supporters the news that
His work will also train advisors on how to implement new fee models to expand the clientele they serve, and help enterprises develop best practices to expand fee revenue and scale ongoing financial planning fees.
But don’t expect his blogging and video production to stop anytime soon. While his FPPad content creation is coming to an end and the FPPad email newsletter is being retired, he will continue to share insight and advice via the
“I have always been an adamant supporter of advisors using technology so they could scale their business, expand their services and get more financial planning to more investors and customers,” Winterberg told Financial Planning. “AdvicePay had a huge alignment with what I was doing with FPPad. Scalable technology, efficiency and being able to get more planning services to more households in America.”
Winterberg said the path to his new chapter started when the pandemic hit. Before COVID, FPPad was covering industry conferences and traveling to client sites for consulting. But all of that came to a screeching halt in March 2020.
With schools closing as well, Winterberg decided to put FPPad on the backburner to become a stay-at-home dad to help his then sixth-grader, now a graduating seventh-grader, navigate the new normal. He also took on some video production work for a healthcare institution in Atlanta where his family was living.
But a job opportunity for his wife in Boston led to more big family changes. After she made the decision to accept that new job, Winterberg was left with a major choice of his own to make.
“If I'm going to get back into things, do I want to spin FPPad back up? Which had some very appealing opportunities. Or do I want to reach out to some of my former clients and colleagues and other customers and see if there's some opportunities to do something 100%,” he said, noting that as an outside consultant, he was at times kept at arm's length when helping clients. “For 2022, if I want to do something, can I kind of break through that barrier and go all-in with one company? And AdvicePay was that company.”
He adds that his passion for financial services still burns, and dates back to his days as an arcade-loving kid who fell in love with pinball machines in the 4th grade.
Still an avid pinball enthusiast to this day, Winterberg said he learned the value of a smart approach, sound planning and enjoying your hard-earned money while making the most of his tokens in the crowded coin-ops of the ’80s and ’90s.
“My mom would give me a dollar when I was in fourth grade and, I would go to the local arcade to play ‘Shinobi’ and ‘Ghosts ‘n Goblins’ and ‘Pole Position.’ And I figured out that four quarters would last me like four minutes … I wasn't that great, and I wasn't making much progress on these cabinets,” he said. “So I go over to the pinball machines and put in a quarter and realized that if you're actually good at this, you can get a high score and you can get a free game. So now I'm putting in four quarters, but I'm not just playing four games. I'm playing like seven or eight games. So it was like that value proposition for me getting the most value out of a dollar, and that stayed with me for my career.
“That's why I feel so adamant about financial planning, because it's getting more out of your money,” he continued. “If you just work at setting grand champion and high scores, you'll get more enjoyment and you'll get to play again. And that's what life is all about.”
AdvicePay and
“The fee-for-service movement is growing in momentum, but it is new and takes time for advisors and enterprises to adopt and scale,” Moore said in a statement. “We are confident that Bill’s experience, skills in developing educational content for advisors, and ability to work with both advisors and enterprises will be critical to helping advisors and their affiliated institutions optimize the growth of fee-for-service business models to drive successful client and advisor outcomes through the financial planning process.”
“We’ve known and admired Bill’s efforts to support advisor technology and expand advisor innovation throughout the last decade,” Kitces added. “He’s been a big promoter and supporter of the fee-for-advice financial planning approach, and we couldn’t be more delighted to have him help drive our growth strategy here at AdvicePay and expand the reach of financial planning to the next generation of clients.”
Scroll down to get caught up on other fintech news you might have missed in our Wealthtech Weekly recap.
