Anna Segunina knows the difference between a business and a practice - which she's proved with her fantastic work helping to develop Main Street Planning into what it is today. On this episode, Anna shares the story of her career, from how she got started in the business to how she became the owner of a highly successful planning practice. Anna shares many valuable takeaways from her experiences developing an hourly-based business with a focus on planning rather than asset management.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/115
Sound business decisions are made when you have accurate and helpful data to back them up. Unfortunately, it seems that many advisors and especially the smaller businesses are not tracking their metrics or gathering important data. Shawn Tydlaska joins us again to shed some light on some simple methods he uses to track data and how this data has helped his business thrive in such a short time period.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/114
Every member of XYPN has a unique take on what we teach, and it's always fun to hear how each advisor is building a unique and valuable practice. Tony Madsen is building an RIA in rural Minnesota, after taking a leap out of the world of broker-dealers so he could have more fun with planning.
In this interview, Tony shares his first-year revenue and expenses and talks openly about where he spent more money than he should. One of the most interesting things Tony explains is the cashflow management strategy he uses with clients, which allows them to donate to charity, save for the future, and pay down their debt, all while enjoying their lives.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/113
We often talk about the utility of the retainer model here at XYPN. One of our earliest members, Cristina Guglielmetti, is cleverly combining retainer clients with a lot of project work to craft an uber-flexible schedule that you'll find interesting.
Cristina shares how she's created a business and schedule that work for her life as she raises a son and invests in a local bar with her husband and a group of friends from her MBA days. While she only has about ten retainer clients, she leverages interesting and productive project work to create the practice she wants.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/112
Mike Solari started his own independent firm in 2012 without a single client. He joined us here at XYPN in 2014, and we've gotten to witness his business grow as he's built a practice that serves about 26 people - two-thirds of which are on retainer.
In this interview, Mike talks about his biggest struggles and successes running the business, and how he's made up for his own shortcomings with grit and education. We talk retainer fees, networking to find clients, and hitting that 5-year business milestone.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/111