If you’re interested in learning how to grow your initial firm investment five-fold in 3 ½ years in a dual-entrepreneurial household, this episode’s for you!
Join in the conversation with XYPN member Jake Northrup, CFP®, CFA, CSLP®, founder of Experience Your Wealth and hear about how he started his firm journey in late 2019, with no clients, at the ripe age of 27. As if that wasn’t challenging enough, his wife started her own wedding planning business at the same time.
Jake always knew he wanted to be an entrepreneur, and after working in an RIA that served mostly older clients, he wanted to build a firm that focused on younger families that did a lot of traveling and wanted to experience more of life during their younger years versus just saving for retirement and hoping to have fun in their 60s.
Jake spent a lot of his upfront money building a website focused on telling the story of who he wanted to work with and how he was different from other advisors. It has clearly worked as he made just over $80,000 in his first 12 months and he has now crossed the $500,000 of recurring revenue mark, just three and a half years into the business.
We had a wide ranging conversation about how he has found success finding clients, his service model, what makes his business unique, how he and his wife have balanced being entrepreneurs at the same time, and how his views on building the business have changed from building a solo practice to hiring another lead advisor and other team members. Check out his interesting journey!
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/357
If you’re interested in learning how niching what you know and starting a group focused around your niche can grow your fee-only revenue to $250k in 5 years, this episode is for you!
We're excited to welcome XYPN member Andie Clark, founder of The Table Financial Planning, a virtual firm serving military members and their families on the show. Andie married her high school sweetheart, who was an Air Force pilot and started moving all over the world every two years. She found work as a math teacher at community colleges, and over time, that ended up shifting into the realm of financial planning.
She took part in a joint program between FINRA and the DOD that helped her get her AFC designation. That led her to getting her CFP® and, as her husband was retiring from the military and they were deciding where they wanted to end up, she started her financial planning firm.
She talked briefly about a couple of big planning opportunities that service members can take advantage of this year. And it is clear how important having in-depth knowledge of what all service members have access to is when working with them. She's also part of a group that she helped found called the Military Financial Advisors Association, which is a group of XYPN members that serve military members and their families. They host regular meetups and provide education to members and have a pretty awesome lead gen program that's set up for members to take advantage of. Another great example of the power of being better together!
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/356
If you’re interested in hearing about building a unique firm that's more focused on helping people and having an impact versus just being focused on making money due to personal financial circumstances, this episode is for you!
This inspiring and really interesting conversation with XYPN member, Frank Austin, CFA, ChFC®, founder of Sustainable Financial Planning, was a little different from many other conversations we’ve had on XYPN Radio in that he is technically retired after a long career in financial services, mainly on the institutional side.
Frank achieved his FIRE goal of retiring at 50 and starting his own financial planning firm. His goal in starting the firm wasn't to make a lot of money as he was already set up for retirement, but instead to impact the lives of as many clients as possible.
We talked about some of the things he thought he would focus on early in the business, such as ESG investing and how those plans evolved over time as he found the clients he enjoyed working with and learned the challenges of running his own solo practice. He's made a recent pivot to moving into more advice packages and away from ongoing planning, and he shared why he made that move and the clients he hopes to help with that new program.
I hope you enjoy hearing about Frank’s journey as much as I did!
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/355
This episode’s for anyone who:
In this informative conversation with XYPN member Joanne Burke, CFP®, CPA/PFS, founder of Birch Street Financial Advisors, we learn why Joanne left a big four firm to join a partner who’d split off to go independent and help start their accounting practice.
After a few years and the birth of her second child, she decided to launch her own tax practice to give herself the flexibility to spend more time with her family than public accounting would have provided.
Fast forward after her youngest left for college, she decided to pursue her passion for financial planning and made the leap in 2020 to start her own RIA. We talked about her original plans to convert tax clients over to ongoing financial planning clients and the challenges she faced as she tried to move from being seen as their tax preparer to being seen as their financial advisor. Her deep tax knowledge has proven to be a real asset as she’s shifted tax prep conversations from reactive solutions to proactive planning. We talked about the upcoming decision she'll get to make as she decides if she wants to stay solo or hire and begin to grow the firm.
This is a really fun interview that covers a lot of bases you don't want to miss.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/354
Whether you live in a single or dual-entrepreneurial household, have children you’re balancing in that equation, or are just looking for effective tips to convert prospects into clients, this episode is for you!
In this fun and informative conversation with XYPN member Sarah Ponder, CFP®, MBA, founder of Real Estate Wealth Planning, Sarah joked that she's 37 and on her fifth and hopefully final career.
She started out in the Enterprise Car Rental Management Training program, then ended up in a financial literacy software startup before getting her MBA. She was then recruited to Dimensional Fund Advisors, or DFA, where she moved up into a regional director role, during which time she got her CFP®.
She always knew she would launch her own firm one day and decided that the fall of 2020 right in the middle of COVID was the right time. We talked about her decision to become an entrepreneur as she had two kids under four and another on the way, and she had historically been the breadwinner for her family as her husband is a realtor. She said she drank the niche Kool-Aid from this podcast, and after doing a round of interviews with real estate professionals, she decided to specialize in working with realtors.
We talked about her fee structure, successful marketing programs, her new course for realtors, and also how her family has leveraged an Au Pair to be able to support them with childcare so they can build their respective businesses.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/353
We’re excited to welcome back XYPN member Kay Dee Cole, CFP®, founder of Clarity Wealth Development, on the show today. Kay Dee was on the show back in 2017 and we wanted to bring her back on now, to give us an update on her firm and how things have progressed and changed. I have to say it was hard to find anything that was similar to the business she was running five years ago, aside from her being there and her niche.
Kay Dee shared the various transitions that have happened from splitting with a business partner, finding her integrator, which is something we talked a lot about, building up the team, selling a portion of the company to her employees, and ultimately setting herself on a path to spend more time on passion projects.
If you’re interested in being really intentional about building the business that makes sense for you and where you're at in life, this episode is for you!
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/352