It's no secret the first year of running your own RIA is no walk in the park. But this week's guest and XYPN member Shawn Tydlaska has had some unique and impressive success in his first year as an independent advisor. Shawn talks about how his long and winding path through the financial services industry led him to practicing true financial planning. He walks through the obstacles he's overcome and many false starts he experienced before establishing his firm. You can find show notes and more i...
Jun 07, 2017•1 hr 8 min
You've undoubtedly heard about FMeX if you're a regular listener and lover of finding innovative ways to connect with your clients. We're lucky enough to have Ric McConkey, Managing Partner at FMeX, with us today to talk about how his service helps advisors provide clients with valuable, relevant content and improve your marketing. Ric shares how the rapid rise of technology has forced advisors to adapt their practices, and how targeted content marketing is perfect for landing new clients, maint...
Jun 07, 2017•1 hr 3 min
It's been a while since we dug into our mailbag, so we're back with another Alan & Kitces Unhinged episode. On this edition: the differences between prospecting and marketing, varying service models, how to educate yourself on financial planning, and E&O insurance. We start off by digging into prospecting and marketing and explaining why we generally focus more on the latter here at XYPN. We also discuss the best CRMs for firms of different sizes and how your service model should change based on...
May 24, 2017•1 hr 6 min
It's hard to believe we've already made it to episode 100, but here we are! We're so thrilled you've been with us this long, whether you've listened to every single episode or you only recently discovered the podcast. We're doing something a bit different for this episode to celebrate! From tips on entrepreneurship and persistence to those on having fun and being positive, tune in to our one-hundredth episode for some excellent insights from standout guests. There are many ways to define and fin...
May 17, 2017•29 min
Many of you listeners will be familiar with (and undoubtedly excited to hear from) our very own Director of Getting Shit Done, Maddy Roche. She's shifted from being our first hire and a jack-of-all-trades member of XYPN, to a manager, leader, and member engagement expert within the company. In this interview, Maddy shares how she's grown along with XYPN and some of the key things she's learned along the way. She talks about the challenges of learning to be a leader and a manager, and the critica...
May 10, 2017•59 min
Arlene Moss re-entered the workforce after raising children, and became a coach for the Alliance of Comprehensive Planners. After realizing there were some shortcomings to the one-off coaching model, she decided to go it alone and begin her own coaching business. In this episode, Arlene and I talk about how coaching can take your advisory to the next level. Arlene shares her highly personalized style of coaching and how she found her own business coach. We also talk about why planning one, five,...
May 03, 2017•1 hr 1 min
Just a few years ago, Dan Andrews was working as an investment manager for a broker dealer and running a side blog about personal and professional development. After attending the 2015 FPA Conference in Boston, Dan realized that there was a path in the financial services industry that was more aligned with his interests, expertise and values. In this interview, Dan and I talk about his journey to becoming an independent financial planner at his firm Well Rounded Success. He shares his experience...
Apr 26, 2017•1 hr 3 min
Seth Johnson of Redi2 Technologies was working for an enterprise software company where his team focused on building an excellent billing software for big broker dealers. The burst of the dot-com bubble and strain on the company gave he and his co-founder-to-be a unique opportunity. They pitched an all-new company, exclusively dedicated to billing software, to their CEO - and got the green light. In this interview, Seth talks about the growth of Redi2 and its softwares, including the independent...
Apr 19, 2017•54 min
It's always fun to catch up with longtime members of XYPN because we've witnessed eachothers' struggles and triumphs alike. Today's guest, Jason Mirabella, has been with us from nearly the beginning. Jason started his first RIA just before the 2008 financial downturn, and had to return to other financial jobs before embarking on his next entrepreneurial venture. Jason talks about his new firm Henfruit and his emphasis on helping clients practice wealth-building behaviors. We walk through the pro...
Apr 12, 2017•55 min
Usually when we talk to new advisors on the show, they're a couple of years into the process and have figured out the pacing of their practice. But today's guest, Ryan Frailich, is still right at the beginning of establishing his own firm, and has generously agreed to share the ups and downs of his daily experience. Ryan talks about why he decided to get into financial planning, why he started his business while still completing CFP training, and how the launch of Deliberate Finances has been so...
Apr 05, 2017•1 hr 5 min
Being an independent advisor is often the second, third, or even fourth stop in many advisors' careers. Sean Kernan, independent RIA owner and host of the How to Go Independent podcast, joins us today to talk about what the transition from employee advisor to independent business owner looks and feels like. Sean talks about his time as a broker dealer for Edward Jones at the beginning of his career and how he slowly built a more independent business model over time. We also dive into some of the...
Mar 29, 2017•52 min
We're very excited to have Chris Rodriguez of the National Disability Institute with us to teach us about ABLE accounts, a relatively new benefit for people with disabilities and their families. Chris talks about the core mission of the National Disability Institute, and how he and his colleagues collaborate with other organizations to craft progressive policies that help people with disabilities become more financially independent. Then we talk in depth about ABLE accounts themselves and what y...
Mar 22, 2017•52 min
Scott and First Ascent are blowing up industry norms on the asset management side of financial planning, freeing the firm from the legacy data that holds others back. Scott talks about what pushed him to start his own firm after helping get several other small firms off the ground. He shares his thought process about the flat-fee model that First Ascent uses and why there's less incentive today to use an AUM fee structure. We also dig how technology is streamlining so much of the back office wor...
Mar 15, 2017•52 min
Fee compression might sound like a strange or complicated term, but it's basically the idea that as the financial planning/asset management space becomes more crowded, advisors with smaller firms will have to reduce their fees and eventually go out of business. Kitces and Alan break down the different versions of fee compression that they do and don't see in the financial advisory marketplace, and they talk about why they think niched advisors are going to continue to succeed. They also touch on...
Mar 08, 2017•1 hr 7 min
Nancy Bleeke is the founder of Sales Pro Insider and the developer of the Genuine Sales Process. Nancy is a goldmine of great information and has an exciting announcement about her sales course which explores distractions that present as obstacles to our ability to generate sales. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/89...
Mar 01, 2017•1 hr 4 min
Chloé graduated from the University of Alabama and immediately started studying to become a CFP. After several jobs as an associate planner and manager at various firms throughout the southern U.S., Chloé decided to start her own consulting and advising businesses. Chloé and I talk about the brilliant path she's taken as a financial planner, starting her career by advising high net-worth clients with complex needs. She also talks about some of the challenges she's faced as a young woman of color...
Feb 22, 2017•53 min
On today's episode we hear from André Novaes, founder and CEO of Life FP. Life FP is a monthly retainer firm in Brazil with about 3,000 clients, 45 advisors, and a grand vision. If André had his way, 95% (or more) of Brazil's population would have the opportunity to design their lives with great financial planning. In this interview, André talks about his journey to establish Life FP and build the financial planning landscape in Brazil. He discusses why they don't have assets under management at...
Feb 15, 2017•1 hr 1 min
Virtual paraplanning is probably the most requested interview topic from listeners. Jennifer Pritchard has one of the most unique and awesome jobs in financial planning. She's a financial planner who's been mentioned on the podcast before because she's built a virtual paraplanning business working with a number of our XYPN members. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/86...
Feb 08, 2017•42 min
Brian is the owner of Face 2 Face Financial Planning, a fee-only RIA in Kalamazoo, Michigan. He's a second generation planner who was introduced to the industry by his father. In 2007, he started his career in a wirehouse, but found the work unsatisfying after two years. He ultimately learned that he could serve customers in a way that provides value and while he earned a living. His experience is a wonderful case study describing how to establish a new firm, convince clients to join you, and tr...
Feb 01, 2017•55 min
Today we're talking about some topics that don't often get discussed in the financial planning space: how your mental health and business are related, and what happens when you struggle with them both. Dave Grant, now the head of Retirement Matters, shares his journey as a financial planner and entrepreneur, and opens up about his recent experience with depression. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/84...
Jan 25, 2017•1 hr 3 min
Rick Frisbie, the newly minted CEO of Robust Wealth, offers a thoughtful take on the state of technology in the financial services industry and what we can expect in the next 18 - 24 months. Robo-advisors, or automated wealth platforms, are here to stay. However, advisors will appreciate the suggestions Rick to best incorporate these tools in a way that drives growth. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/83...
Jan 18, 2017•47 min
This week, J.D. Bruce - President of Abacus Wealth Partners - shares his experience of growing a firm from a solo practice to an established business with a professional management, a board of directors, and a governance structure. J.D., a CPA with management experience across a variety of industries, was hired at Abacus to help merge two solo firms into the successful operation that exists today. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/82...
Jan 11, 2017•1 hr 1 min
We closed 2016 out with 350 members; hitting our 20-year goal in just two years. Whoa! As accidental entrepreneurs who sought the freedom to build a lifestyle on their own terms, we discuss the pros and cons of pursuing an aggressive growth strategy in business. In this episode, we reflect on how we were able to meet this challenge and the tools that made delegating much simpler. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/81...
Jan 05, 2017•1 hr 12 min
Inga Chira is the President and Founder of Attainable Wealth, a fee-only RIA based in Los Angeles. She specializes in financial planning services for college professors and teachers. Inga has an awesome story and a very cool career path. During her first year, she has started working with 23 new clients while maintaining her full-time position as an Assistant Professor of Finance. On this episode, we discuss her time management strategies and a simple, yet effective technique to connect with her...
Dec 28, 2016•54 min
Cady North, like most of our guests on the # XYPNRadio podcast , didn't begin her career as a financial planner. She was a political science major and became the leading expert on the Dodd-Frank bill as it was being written. After getting her MBA, she decided to make the leap into fee-only financial planning. She started her firm, North Financial Advisors, to bring independent and affordable financial advice to young professionals with an emphasis on women . You can find show notes and more info...
Dec 21, 2016•57 min
Jim is the President of Financial Planners Assistance Corp. FPAC is a compliance firm that works with independent RIAs and financial planning firms. We talk about quite a few topics from what to expect when being audited to how giving gifts can create unintended consequences. Obviously, all information offered today should be considered general advice. Follow up with your state regulators for more specific information. You can find show notes and more information by clicking here: https://www.xy...
Dec 14, 2016•1 hr 9 min
Kristin Harad followed a very non-traditional route before landing in the financial planning industry. She initially dreamed of becoming an advertising executive on Madison Avenue in New York City and began her career as a direct marketer. This is where she honed her expertise building brand awareness for various firms and developing customer loyalty programs. Her success led to new opportunities helping financial advisors develop their marketing campaigns. She’s become a noted speaker and sough...
Dec 07, 2016•1 hr 3 min
In the hustle of this always-busy time of year, we thought it'd be a great idea to answer several of the mailbag questions from our private XYPN network. We start off with an announcement about the wide release of Advice Pay, our payment processor for advisors that follows the rules of all 51 states. Alan and Michael then spend a couple questions discussing the effects of the Department of Labor's new fiduciary laws, and which firms will have to change the most to accommodate them. We also dig i...
Nov 30, 2016•1 hr 9 min
This week, we're excited to welcome Hui-chin Chen, a Certified Financial Planner and co-owner of Pavlov Financial Planning, a fee-only firm based in Washington D.C. This Taiwanese native received an undergraduate degree in business before relocating to the United States to pursue her master's degree at Carnegie Mellon. Specializing in financial planning for digital nomads, Hui-chin has created a location independent practice that caters to expats with assets in both Taiwan and the United States....
Nov 23, 2016•1 hr 6 min
Adele Martin may just be one of the most famous guests ever interviewed on the XYPN Radio podcast. She's a recent recipient of the prestigious Independent Financial Advisor Excellence Award based on the innovative strategies she's using to expand her firm's reach while keeping costs low. This Australian planner is disrupting the industry down under with her fee-only firm, Experience Wealth. Adele provides an international perspective on the evolution of fee-only planning. Australian financial pl...
Nov 16, 2016•1 hr 7 min
