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Technology provider Chalice Financial Network says it now offers advisors its software-as-a-service plans for less than $100 a month.

The news comes less than two weeks after Charles Schwab started selling its Intelligent Portfolios Premium plan to investors for $30 a month rather than charging 0.28% of assets each year. 

Since its launch in January, Chalice has beaten its business goals, according to Chairman and CEO Keith Gregg, and that means it can lower its prices: “This accelerated growth enables us to immediately make good on our promise to continuously deploy our growing scale and resources towards enhanced cost savings for independent financial advisors who join us as members.”

The firm, which has been on a roadshow for the past few months, sees further growth ahead as advisors seek out new ways to add technology.

“There is enormous pent-up demand among independent financial advisors from all firms and business models for access to deeply discounted, top third-party solutions on a fully ‘unbundled’ basis, free of the ‘all or nothing’ affiliation agreements that are typical throughout the industry,” Gregg explained.

Chalice — which aims to be the “Amazon Prime” of indie advisors — gives clients access to a digital marketplace that includes group health insurance and has a “optional refund” for advisors who do not recoup their costs of joining within three months.

Some providers on the firm’s platform are Redtail, WealthForge, Venture Co., Vestwell, Oasis Outsourcing, QuickBooks and ProSites.

“Our new pricing structure underscores the strength of our value proposition for independent financial advisors at every stage of the business life cycle, and our ability to deliver on the promise and potential of our platform,” Gregg added.

The firm’s advisory board includes Riskalyze CEO Aaron Klein; Eric Clarke, CEO of Orion Advisor Services; Rich Cancro, CEO and founder of AdvisorEngine; Steve Dunlap, founder of Stratym Consulting; Spenser Segal, CEO of ActiFi; Stephanie Brown, former general counsel of LPL; Daniel Krueter, founder of Gladstone Group; Morris Nutt, CEO of Trinity Capital Management; and Don Plotsky, managing member of Uinta Investment Partners.

– Ginger Szala contributed to this report.