Lacy Shrum of SmartKX [Episode 66]

Lacy Shrum of SmartKX [Episode 66]

From Perfectly Integrated by Matt Ackermann

March 16, 2026 · 18 min

About this episode

Lacy Shrum discusses the complexities of financial advisor billing and how Smart KX is innovating the process.

In this episode of Perfectly Integrated, host Matt Ackermann welcomes Lacy Shrum, CEO of Smart KX, to demystify the topic of financial advisor billing, a subject often avoided or misunderstood within the industry. The conversation focuses on how Smart KX is bringing transparency, confidence, and innovative technology to the complex process of fee calculation. Lacy Shrum explains that traditional advisor billing—often done quarterly in advance based on just four market days per year—creates tremendous regulatory and business risk. This method leads to problems like: Advisors feeling pressure to time the market around those four billing days. Clients feeling overcharged when the market drops after a bill is calculated at a high point. Complex, opaque, and time-consuming manual adjustments for cash flows and portfolio changes. Advisors feeling pressured to offer discounts, which erodes their internal value and creates regulatory risk. The core innovation, Smart Recon, is a feature that allows RIAs to maintain quarterly billing in advance (which firms need) but introduces a reconciliation at the end of the quarter. This provides a fairer calculation by compensating the advisor for…

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