Maggie Klokkenga shares her insights into her client engagement process, which involves 8 to 10 one-hour-long meetings over several weeks, and the positive outcomes she's witnessed.

You can find show notes and more information by visiting this link:

https://www.xyplanningnetwork.com/376

Many of our recent guests have discussed how things are 2,3, 4 years after starting. But what about when you’re in the thick of it? Our guest today, Nycole Freer, founder of Eden Financial is only 8 months into her solo RIA journey and tells us what it’s like!

Whether you're an aspiring business owner, a new entrepreneur navigating challenges, or an established owner reflecting on your progress, Nycole's story is a great touchstone for so many of us. Be sure to tune in and join us as we see another new advisor building towards their very own best life.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/375   

Join us on this episode of XYPN Radio as we introduce you to Tim and Alexis Woodward, co-founders of Blend Wealth. These financial planners decided to blend not just their lives but also their financial expertise, serving blended families and business owners.

Discover how they've diversified their services, embraced their Christian faith in financial planning, and managed a thriving business while nurturing a harmonious marriage. This is an episode you won't want to miss.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/374   

What does it look like to scale your RIA and how long does it take? How big of an impact does it really make to have a niche? When should you start hiring, and who should it be when you do? 

Co-Founders Alan Moore and Michael Kitces met onstage this year to review the highlights of the seventh-annual Member Benchmarking Study in this episode of XYPN Radio. Every year, the study gathers information from XYPN member participants to get an accurate picture of how advisors are doing in their firms. 

Doing the right thing in the financial world often involves speaking up and knowing when to go your own way. This is in no way an easy thing, but has time and time again been a source of joy for advisors. Our guest today, Mike Kelly, CFA®, CFP®, and founder of Switchback Financial has pursued doing right by his clients, himself, and his family. Along the way, he has built a successful business and has exciting new ventures on the way!

Mike shares his experiences, from the impact Silicon Valley Bank’s collapse had on clients in the tech industry, to the importance of sales skills and effective marketing on platforms like LinkedIn. All the while, striving to be present for his family, friends, and personal well-being. From ethics in action to what to look for in a new partnership, you won't want to miss this episode.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/372  

Your RIA journey isn’t just an upwards climb from where you are to where you want to be. It can include things like a family, embracing other opportunities, and teaming up with a friend. In today’s episode, we reconnect with Natalie Taylor CFP®. Since we spoke to her 3 years ago, she has taken an unexpected path to a growth-filled, confident today.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/371  

Our guest moved up the corporate ladder to become CIO at 2 different large RIA’s. Even from the top, there is just no replacing the freedom and flexibility that owning your own business can provide for both you and your clients. Terri Spath, CFA®, CFP®, founder of Zuma Wealth shares some fantastic stories and insights that you won’t want to miss!

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/370  

From youth ministry to personal finance, Jeff Clark's journey wasn’t simple. In his church, Jeff offered to help his peers with their finances, but soon had the attention of a congregation also in need!

Following this path, he found himself in FinTech, able to learn from experts in the field. This stepping stone gave him the knowledge and confidence to strike out on his own. In 2021, he did just that.

Cataloging his growth 2 years later, he has exceeded all expectations. With Jeff's practice expanding at an impressive pace, culminating in a hiatus from new client engagements for the latter half of 2023. He credits much of his success to the support of friends, family, and peers much like those in his XYPN Mastermind Group.

For those looking into how their current support systems can bolster their practice, this episode is for you!

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/369  

Not only are students of all ages needing financial guidance, the solutions available to them can completely change the way we look at student loan repayment and consolidation.

In this episode, we have the pleasure of sitting down with Erik Kroll, CFP®, the founder of Hilltop Financial Advisors and Student Loans Over 50.

Erik tells stories about how he has changed the financial landscape for his clients,  including helping one client eliminate over $250,000 in student loan debt practically overnight!

One really unique thing that Erik has built is a tiered service model that allows him to work with clients at different stages of their financial journey—something that many financial advisors have trouble navigating. 

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/368  

We often hear how the network of support and connection that XYPN offers is a strong component of success. In today's episode, we learn that for our guest, Leland Gross, CFP®, the founder of PeaceLink Financial Planning, "community" wasn't just a benefit, it was essential after a life-changing event pulled his focus from building his business.

In September 2021, Leland launched his firm and discovered that same month that his wife was pregnant! Three months later, they received the devastating news that their baby would need open heart surgery just after birth. Leland shares how his XYPN study group jumped in to help him keep his business from failing. While he focused on his family, they got set up so they could call Schwab on the client's behalf, helped craft emails and communications to clients, and basically did anything else they could do to support him while he cared for his family.

With their assistance during that critical time, and Leland's strategic social media and podcast leveraging, he is now serving 45 client households (in less than 18 months!) in the self-employed niche—all while experiencing major changes and hardships to his growing family. Leland’s story really shows how perseverance and support can get us through unimaginably difficult times and help us still find success. 

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/367 

If you’re wondering whether taking custody of client accounts and a virtual assistant is right for your independent advisory firm, this episode’s for you! Taking custody can be a scary decision, but sometimes it's the right one.

Just ask XYPN member Kate Yearwood Young, CFA, CFP®, founder of Yearwood Young Advisors.  From engineering to Wall Street to founding a successful business, she acquired the skills and services to meet her client’s needs where they are.  And their needs dictated that she take custody.

You can find show notes and more information by clicking here:

https://www.xyplanningnetwork.com/366

If you are interested in learning highly effective, yet simple ways to use data-driven market research to find and maximize your niche, this episode is for you! In this candid and informative conversation with XYPN member Marlon Wesh, MBA, founder of Wesh Financial, we learn how Marlon’s early experience in HR for the Marine Corps helped formulate his firm’s operational systems. I hope you enjoy this conversation as much as I did. Y

ou can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/365

If you’re interested in the impact being a student of your own art can have on your priorities and business, this episode is for you! 

Terry Bradford-Crane MBA, CFP® of Bradford-Crane Company went to the Naval Academy for college with a dream of becoming a pilot and an astronaut. Just as she was finishing her training program, the US repealed a law prohibiting women from serving in combat zones, and she was one of the first women to receive orders to serve on an aircraft in a combat zone.

Her first job out of the military was with Merrill Lynch, and she talked about how valuable the four years she spent there were for her career, mainly based on their amazing training program. 

In 2019, she decided to focus more on her financial planning business and started to scale. Most recently, she's been focused on her planning practice and become super intentional about her time and priorities to ensure the right work gets done. I was really impressed with her intentionality and she shared her goals for the business and how it will ultimately support her and her husband as they transition into the next phase of their lives.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/364  

If you’re interested in how finding your niche can change everything and how well the equity compensation niche has worked for XYPN member Christine Amill Centeno, CFP®, MS, founder of Simplicity Wealth Management, this episode is for you!

Christine started her career in financial services at Ameriprise in 2007 and worked in a variety of broker's side roles until she ultimately decided to launch her own firm in 2019. Having just celebrated her firm's fourth birthday, she has grown quickly with over 40 client households and 400,000 of recurring revenue.

How has she had so much success? You probably guessed it, she has a really well defined niche. Christine specializes in equity compensation, and almost all of her growth from the last two years have been from client referrals.

She also shared about her experience hitting the ceiling, realizing that she was working way too many hours and had let the business really take over her life. She hit the reset button, defined her financial mission statement, and has been really intentional about building the business to support her life moving forward. 

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/363

If you’re interested in learning how employment contract restrictions can seriously disrupt your plans to take clients with you should you decide to break away from your broker, as well working through growth and fee structuring decisions, this episode is for you!

XYPN member John Underhill, CFP®, founder of Acorn and Oak Wealth Management, based in Raleigh, North Carolina shares how his journey from ski bum to managing parts of a ski resort, and then several Starbucks helped bolster his business acumen as well as humility—in the best ways.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/362 

In this fun conversation with XYPN member Brian O'Neill, CFP®, founder of Winged Wealth Management and Financial Planning, we hear how niching not only what you know, but who you know can radically grow your business—even in the first year!  

Brian spent the first 20 years of his career as an Air Force pilot, during which time he developed a passion for personal finance. Brian launched his firm in January 2021 and came out of the starting gates hot, working with 30 clients in his first year, 23 of which were retainer clients. He's grown quickly and shared that he'll gross over $200,000 in 2023, just his third year in business.  

He shared his marketing secret sauces that helped him grow quickly as well as build upon the equity of trust his fellow fighter pilots feel towards each other. Finally, we talked about his view of the future of the business and how that's changed from a plan to stay solo to a desire to grow, not only to serve more clients in need of his services but also his family—in the form of a succession plan for his business.

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/361

If you are interested in what it takes to transition from a long-term wirehouse position to solo RIA ownership, what it means to truly answer a calling, and how to sustainably serve others without being self-sacrificing, this episode is for you!

Kaysian Gordon, founder of Kaysi Gordon Financial Planning, spent 14 years at UBS focusing on financial planning for ultra-high net worth clients. Seven years ago, she started a weekly devotional blog, which later helped her build a niche working with women of faith in transition.

In late 2021, Kaysian launched her own firm with XY Planning Network's help, growing rapidly with 60 households in under a year. We also discussed how being a single mom has shaped her business and life design. Her clear niche and personal journey make her story truly inspiring. Enjoy the conversation!

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/360

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/359

If you’ve ever found yourself questioning what “having it all” looks like for you, how to pull focus on those visions and find balance as you start and run your business, this episode is for you.

In this reflective and empowering conversation, XYPN member Betty Wang, CFP®, founder of BW Financial Planning, shares a very real look into her journey from a career in financial services on the buy side, to taking time off to care for her children with medical issues to returning to the industry in private equity and ultimately deciding to do her own thing as a firm owner. 

While she doesn’t describe herself as an entrepreneur—because she doesn't fit the image that she had of what it means to be an entrepreneur—she has built a very successful firm.

She launched in 2018, but struggled to put herself out into the world, so she didn't see much traction early on. 

That all changed in 2020 when she made the decision to lean into the uncomfortable parts of the business, primarily selling financial planning and the relationship with her as the product of her business—and it has grown rapidly since. 

She shares how she has been able to be intentional with her time—focusing on working 25 hours a week so she can spend time with her kids (something she hadn’t envisioned being a priority in the beginning of her career).  She also shares tools she uses to help with what she calls life planning—a way for her to focus on living from a fulcrum of integrity, according to her values. 

There are many aspects of Betty’s story that you may find familiar, but mostly I think you’ll appreciate her ability to turn the unexpected into an intentional and meaningful life.  I hope you enjoy this conversation as much as I did!

- Alan

You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/358

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: https://www.xyplanningnetwork.com/357

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: https://www.xyplanningnetwork.com/356

Frank Austin, CFA, ChFC®, founder of Sustainable Financial Planning, 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: https://www.xyplanningnetwork.com/355

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.

You can find show notes and more information by clicking here: https://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.

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: https://www.xyplanningnetwork.com/353