He gets money from dad the old-fashioned way (5)
I believe the answer is:
payee
'he gets money' is the definition.
The answer is a person as well as being a singular noun. This is suggested by the definition.
'dad the old-fashioned way' is the wordplay.
'dad' becomes 'pa' (both can mean one's father).
'the old' becomes 'ye' (resembles a historical spelling of 'the').
'fashioned way' becomes 'e' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'pa'+'ye'+'e'='PAYEE'
'from' acts as a link.
Can you help me to learn more?
(Other definitions for payee that I've seen before include "Recipient of money" , "Person to whom money is made out" , "The one to whom cheque is made out" , "He gets the dough" , "Person getting the money" .)