The Subscription page helps you do two things in one place:
Manage your own subscription and billing (plan, payment method, billing details, and invoices)
Sponsor advisor seats so other advisors can access Waterlily under your subscription—either indefinitely or until a seat end date you set
Manage your subscription and billing
Use this section if you need to change your plan (monthly vs annual), update your payment method, update billing details, or review invoices.
Step-by-step
In Waterlily, go to Subscription.
Click Manage Billing in Stripe.
In the Waterlily Subscription Management Portal, you can:
Change your plan (for example, monthly to annual) via Update subscription
Update your payment method
Update billing information
Review invoice history
When you’re done, click Return to Waterlily to go back.
Sponsor advisor seats
Sponsoring a seat lets you invite another advisor to join your subscription. You can sponsor:
an existing advisor (they already have a Waterlily account)
a new advisor (they don’t have an account yet)
Important behavior:
If you sponsor an existing advisor, their current subscription is paused when they accept your invitation. When you withdraw your sponsorship, their original subscription will be reactivated. They will not lose any access during this process.
If you sponsor a new advisor, they’ll be prompted to create an account, and they won’t be asked to pay while their sponsored seat is active.
Sponsor a seat: Step-by-step
Step 1: Add a seat and enter the advisor’s email
Go to Subscription.
Click Add Seat.
Enter the Advisor Email.
Click Preview Invitation.
Tip: Waterlily automatically detects whether the email belongs to a New Advisor or an Existing Advisor, and you’ll see that label in the confirmation step. If you know that the advisor made an account, but you're seeing the label "New Advisor" then it's likely that the advisor signed up under a different email. In this case you should coordinate with the advisor to ensure that you are inviting the correct email address associated with their Waterlily account.
Step 2: Set a seat end date (optional)
In the preview screen, open Seat End Date (Optional) and choose one:
No end date (sponsored indefinitely)
Number of months from today
Select specific end date
If you leave this as No end date or you’re not ready to decide yet, that’s fine—you can still set an end date later.
Step 3: Send the invitation
Review the Billing Summary (this may include a prorated amount Due Upon Acceptance, depending on your billing cycle).
Click Send Invitation.
The invited advisor will receive an email with a View Invitation button.
Existing advisors will be able to sign in and accept.
New advisors will be prompted to create an account first (using the exact same email address you invited), then accept.
If the invited advisor is currently being sponsored by another account, the email will notify them. They can still accept your invitation—their sponsorship will switch to the most recent invitation they accept.
Step 4: Check your Subscription dashboard
After the advisor accepts, return to the Subscription page and confirm they appear in your seats table.
From the Actions menu, you can still:
Edit expiration (change or add an end date)
Remove seat (stop sponsoring that advisor)
If the advisor has not accepted yet, you can also:
Resend invitation
Cancel invitation
You will also receive an email notification when the advisor accepts or declines your invitation.
Existing advisor acceptance flow
Open the sponsorship email.
Click View Invitation.
Sign in to Waterlily (if prompted).
You’ll be taken to the Invitations view under Subscription, where you can review incoming sponsorship invitations.
Click Accept or Decline.
Note: You can only have one active sponsorship at a time. If you accept a different sponsorship later, the latest one you accept becomes your current sponsor.
After you accept, your Subscription page changes to a simpler view since your access is now sponsored. You’ll see:
Your Subscription Payer
Their organization
Your Joined On date
New advisor acceptance flow
Open the sponsorship email.
Click View Invitation.
Create your Waterlily account using the exact email address that was invited.
After account creation, you’ll be taken to the Invitations view under Subscription, where you can review incoming sponsorship invitations.
Click Accept or Decline.
Note: You can only have one active sponsorship at a time. If you accept a different sponsorship later, the latest one you accept becomes your current sponsor.
After you accept, your Subscription page changes to a simpler view since your access is now sponsored. You’ll see:
Your Subscription Payer
Their organization
Your Joined On date
Note: Since your account is new, you must wait for the Waterlily support team to verify your account before you can use it.
Other helpful details
Sponsors are notified by email when an invited advisor accepts or declines.
Sponsors can invite multiple advisors and remove seats at any time.
After inviting someone, sponsors can manage the invitation from the Actions menu:
Resend invitation (if not yet accepted)
Cancel invitation
Edit expiration