The Monarch Advisor program is a subscription just for financial professionals. It gives financial advisors like you the ability to collaborate with all of your clients in an easy to use Advisor Portal. Within this portal you will have complete access to your clients data. You can track your client’s budget, forecast goals, track investments, and see all of your clients transactions in one place.
Within this link click "For Advisors" and "signup now"
Learn more about our advisor program with this quick 2 minute overview!
Subscription cost for the Monarch Advisor Program
On Monarch’s Advisor program you only pay for each active client in your portal ($9 per month per client). When signing up for our Advisor program you will be prompted to enter payment information, however you will not be charged until a client accepts your first invitation. You will not be charged for invited clients until they redeem your advisor access code.
Inviting clients
There are two ways of collaborating with clients on Monarch:
- You can sponsor them (you pay for their subscription and get access to their household).
- They can grant you an Access Grant (they pay for their own subscription but grant you access, 30-days at a time).
For clients you sponsor
Access your advisor portal by visiting https://app.monarchmoney.com/advisor-portal/clients. Here you can access each of your clients budgets, edit your Advisor profile, update your billing information and invite your clients to sign-up for Monarch.
Sending a client your advisor code
To do this, navigate to your advisor portal > click “add clients” > enter your clients email and name. This will email your client a unique advisor code. Once the client redeems this code they will now be included in your client list.
Once a client applies your Advisor code
-They will get complimentary access to Monarch (our best-in-class personal finance tool).
-You will “sponsor” their Monarch account (paying for their access).
-You will have full access to collaborate on their budget (the same view they are seeing in their portal).
We recommend sponsoring clients you work with on an ongoing basis since that will give you continued access to their household (until revoked) and provide a better overall client experience.
For clients granting you temporary access
Your client must have their own Monarch account with a paid subscription. Ask your client to navigate to the pop up next to their name > Settings > Members > Give access to “Financial Advisor”.
Once invited your access will automatically expire after 60 days. Your client can revoke access at any time. This will not initiate a “sponsored client charge” on your end. However the client will need to continue paying for their own Monarch subscription.
Getting Started in the advisor portal
Frequently asked questions:
Can I sponsor clients who already have an existing Monarch account?
Yes. Users with an existing Monarch account can apply your sponsor code and have you sponsor their account. They will not be refunded for any subscription fees they have already paid for, but once they apply your code they will stop being charged in the future.
How do I revoke my client’s access?
You can revoke your client’s access within your advisor portal. For the client you would like to remove, click the three dots to the right of “view household” > click, “stop paying for client”. Once you revoke access, you will not be billed for that client’s subscription, and will lose access to their account. The client can choose to continue staying on Monarch themselves by paying for their own subscription and will not lose any information.
How do I sign up for the Monarch Advisor program?
You can sign up for the advisor program by going to the Monarch Money website. At the top of the page you will see an option labeled “For Advisors”. You can also follow the link attached here.
Recent Webinars:
- How Monarch Money Fits Into Your Tech Stack - 8/9/24
- Monarch Money, Presenting Your First Budget - 7/9/24
- Monarch Money, Advisor of the month. Taylor Westergard - 6/6/24
- Monarch Money, Creating Your First Budget - 5/14/24