We’re excited to welcome XYPN member Danielle Harrison MBA, CFP®, CFT-I™, the founder of Harrison Financial Planning, a fee-only firm based in Columbia, Missouri, on the show today. Danielle was destined to be a financial planner, starting all the way back in middle school as a kid fascinated by finance. The only problem? Her perception of financial planning as product pushing and sales-based—until she learned about fee-only firms.
She entered financial services as a bank teller at age 16 and eventually moved into the wealth management side of the bank. After going on maternity leave with her second child, she came back to a less than ideal situation that ultimately led her to launch her own firm in January 2021, well ahead of her schedule for doing so and in the midst of COVID. In this interview, Danielle is open and honest as she tells her story about the difficulties and challenges of her first year in business. But she’s persevered and is building an inspiring firm that supports her family and their goals.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/335
Today’s episode is a shift from our typical one. Alan Moore, CEO and Co-Founder of XYPN, joins Maddy for a conversation about some changes that are happening—good ones—with the leadership structure at XYPN, their roles, and this podcast. As you’ll hear, over the past ten months since Alan was on last, XYPN has continued to grow and formalize, which means Alan and Maddy’s roles are shifting.
Alan discusses his move back as the host of #XYPNRadio, and Maddy’s shift away from being the host. For over 100 episodes, Maddy has interviewed XYPN members, allies, and teammates about a range of topics—listeners have been through COVID and more together with Maddy, and she shares how thankful she is for the support of each and every listener. She has found so much joy in being able to bring stories of success to each of you, and inspire some of you to go out on your own.
If you want to hear more about the future of #XYPNRadio and how you can shape it by filling out a listener survey telling us what you love about the show and want to hear more about, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/334
Today, we talk to Cynthia Meyer, a CFP®, CFA, and XYPN Member, who is the owner and founder of Real Life Planning—a fee-for-service firm dedicated to supporting real estate investors. Today’s podcast is full of information as Cynthia shares her expertise with real estate, and how she’s been able to create a service model that has allowed her to scale to 50 clients in her first three years.
We talk about everything from the real estate bubble to how she is able to leverage her campaign management experience. Cynthia exudes enthusiasm for her work, her clients, and her niche—and it’s contagious. Cynthia is also a power user of the XYPN Network and has effectively launched the highly-productive Real Estate Investment study group within the XYPN membership community, and she speaks about how giving back has given her so much value in return.
If you’re interested in real estate as an asset class, and how to serve clients who are too, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/333
Today’s interview is with Leo Marte, CFP®, the owner of Abundant Advisors, a virtual fee-only firm that specializes in serving Christian professionals. Leo joined XYPN and launched his firm in 2020 after spending a dozen years at Vanguard, managing a large team, and working with thousands of clients.
We talk about what it was like for Leo to leave a meaningful institution and career to chase a different dream of serving clients that better aligned with his personal goals. He discusses what it means to be a great advisor to his high-net-worth clients, how transparency is what draws folks in, and he talks about the intentionality he has around his growth. Leo charges a flat fee and AUM, which provides him access points to work with folks he may not be able to otherwise. We discuss a second business he’s developing, and he reminds us that there’s never a right time to do things.
If you're ready to transition out of your institutional career, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/332
Today, we talk with two advisors who launched their firms in the past six months. This is a different kind of podcast that gives folks an inside perspective on what it’s really like in the first year. Instead of talking to people about how their first year was in hindsight, Elaine King and Scott Alan Turner, fee-only RIA owners from Florida and Texas respectively, share what it’s like to figure things out right now—as they’re doing it.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/331
We’re excited to interview XYPN’s very own Director of Advisor Education, Kori Lennon. Kori pulls the strings for all of the educational programming for XYPN members—from our coaching offerings to our webinars. They are the ears and eyes of our community, always learning about what advisors need to stay up to speed.
Today, she talks about her team's work to support advisors on their entrepreneurial journey and shares excellent wisdom about what it takes to prepare for and start your own firm successfully. Kori tells us about the emotional and mental struggles she senses in some of our new members and what advisors can do to combat some of the inevitable challenges of being an entrepreneur. She gives us three things every future entrepreneur should focus on and shares her perspective on burnout and how to avoid it. Kori and her team are gearing up for the biggest year yet within the Advisor Education department, and you’ll hear all about how you can expect to be supported by their team when you launch your firm.
If you want to know how to prepare for your first year in business holistically, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/330
Today we’re talking with advisors at a different stage of their business development than those we normally feature: two XYPN members who are in their first six months of launching their firm. Chao Zhang and Stefanie Pickard are in the midst of figuring things out as their firms get off the ground.
This podcast is fun—and brutally honest. Despite both Chao and Stefanie having a 10-year financial runaway as they started their firms, the conversation is transparent around imposter syndrome and how they wished they had done things differently. We talk about how many hours they really spend working on their firms, and what has slowed them down. Both Stefanie and Chao approach their firms with different perspectives and have different goals for themselves, but they share so many commonalities about how they feel about launching their firms and what it’s done for them personally.
If you’re interested in what the first six months are really like, this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/329
Today I talk with Cameo Roberson, the owner and founder of Atlas Park Consulting—a consulting firm for RIAs. Cameo isn’t an XYPN member, nor is she an RIA owner, but she’s deeply familiar with the space and the experiences of advisors who are running their firms. Today, we dive into Cameo's expertise; from her comprehensive background in the industry to her current work with advisors. I’m able to ask her questions about what advisors tend to overlook when approaching their launch, what slows them down, what advisors should be focusing on in the 12 months before they launch, and six months after they launch.
Cameo has some incredible advice about imposter syndrome, how to navigate the industry as a professional, and gives sage advice about how advisors can stay motivated as they navigate the world of entrepreneurship. Cameo shares her experience looking for and seeking mentors in this industry, and what she’s done to ensure there are more people like her in this industry.
If you’re interested in an expert's perspective on preparing for your launch, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/328
Today’s interview is with XYPN member Heather Townsend, owner and founder of Townsend Financial, a virtual fee-only firm based out of Scottsdale, AZ. Heather is in her fourth year of business and is hitting her stride working with over 40 of her most ideal clients: business owners and professionals with stock compensation.
Today’s episode covers a lot—Heather shares her wisdom from, as she describes it, her messy first few years, and she talks about why it was important for her to raise her fees a number of times as her confidence gained. Heather has multiple designations and an impressive amount of technical understanding of her niche, and she shares how today she is able to deliver massive value to her clients on an ongoing basis by working with a coach and being true to her goals. Heather is also a new mom of twins and talks about what it was like to prepare for and enjoy her well-deserved maternity leave, which meant setting up boundaries. She also talks candidly about what it’s like to be a perfectionist and what her confidence curve was like after starting her firm—something more advisors should consider when building their firm.
If you’re interested in building a firm that aligns with your goals—from the amount of money you want to make to who you want to work with—then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/327
Today we hear from the three founders and owners of AVID Planning—a fee-only firm out of St. Petersburg, FL, that opened its doors in 2016. Right out of the gate, Jack, David, and Kevin experienced how much fun running a business can be when you do it alongside friends. The three of them met when they were all working at Edward Jones, had a stint at an independent broker-dealer, and eventually broke out on their own to do things differently.
Today, Jack, David, and Kevin talk about what the math looked like as they decided to become truly independent, what it meant to leave the broker-dealer world, and why they are now more fulfilled working as co-owners. They talk about how they structure their business and equity, break down their accountabilities, and how implementing the Money Quotient process has changed the way they work with their clients long term and in what they believe is the fiduciary way.
If you’re interested in what it’s like to start your dream firm with a friend or colleague, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/326
Today, Jennipher Lommen, founder of Wildflower Financial, a fee-only firm out of Santa Cruz, California, is on the show. Jennipher is a career changer and entered this industry only a few years before she launched Wildflower four years ago. Jennipher homeschooled all three of her children and explained what it was like to begin looking to enter a new industry in her 40s.
With age comes maturity and experience, and quickly Jennipher found financial planning to be a perfect fit. Today she talks about her first few years in business: she worked with over 50 clients on a project basis in her first year and now serves a number of them on an ongoing basis. She talks about how the industry is in dire need of more women and how this profession is so accessible to anyone who is interested in being a listener, supporter, and advocate for their clients. She shares her perspective on the CFP® curriculum and how the Registered Life Planning process has been transformative for both herself and her practice.
If you’re interested in entering this profession later in life, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/325
We’re joined today by XYPN member and founder of SJK Financial Planning, Wes Shannon. Wes has been running his Fort Worth, TX firm for six years and, despite feeling admittedly swamped, has reached the point where he feels like he’s built his ideal firm.
In this episode, Wes discusses the numerous business plans he wrote before starting his own fee-only firm and how to handle transitioning clients. Wes reflects on how hard the first three years were and how, at 64 clients, he’s benefiting from his preparation and endurance. Wes gives advice around the nuances associated with serving both individuals and 401(k)s for small businesses and how he established a buy-sell agreement with a like-minded advisor. Additionally, Wes talks about why networking has been so beneficial to him and how he strives to serve his clients as best as he can.
If you want to know what it’s like to be six years into building a firm that you love, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/324
XYPN has conducted an Annual Benchmarking Study for the past four years. The comprehensive annual survey gathers core performance indicators of member participant firms and ultimately draws data-backed conclusions about the success of different business models, fee structures, and niches.
Today, Alan Moore and Michael Kitces, XYPN Co-Founders, discuss the study’s fifth annual results. As you’ll see, with our maturing network and member firms, the 2021 study shows a much clearer understanding of what’s working and not working in fee-only RIAs. This episode is particularly interesting and helpful for those considering starting the long play of the entrepreneurial journey. We encourage you to listen closely and go back to the previous conversations about the past surveys and use them as resources to build your ideal firm.
If you’re interested in what really works (yes, meaning proven with data) when building your firm, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/323
We’re excited to interview Kathleen Boyd, a CFP®, former financial planner, and now, XYPN’s Financial Planning & Process Coach. Kathleen is joining us for a second time, as she was on Episode 131 with Alan Moore four years ago talking about Diversity and Inclusion.
Today, Kathleen discusses the challenges advisors face when building their processes, how they can get overcome with analysis paralysis as they try to systematize, and she offers sage advice on how to avoid these pitfalls. She gives a lot of credit and love to the advisors who choose to start businesses, encouraging them to think outside the box on who and how they serve. Kathleen is a black, queer woman and has had a diverse and broad career in this industry—she’s been on Investment New’s 40 under 40 list—and she shares what it’s been like to find her place in this industry with the help of mentors, and what it’s been like to work at XYPN, a place she says embraces progressive thinking in a real way.
If you’re interested in how to leverage your financial planning experience in dynamic ways, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/322
We’re excited for today’s episode with Ashley Foster, a Latino advisor and owner of Nxt:Gen Financial, a fee-only firm out of Houston, TX. Ashley started his career in the captive insurance space, learning how to sell and acquire clients. As many of our guests have experienced, Ashley started to feel drawn to the fee-only space and serving the community he wanted to and had a discussion with his former employer about changing his career trajectory to being a business owner.
Three years into it, Ashley is serving over 30 clients, primarily veterinarians. He’s making six figures and is loving life more than he could imagine. Ashley has a lot of great advice to share with you today—from how to navigate the exit from a company to leaning into the painful moments of the experience as opportunities for growth. Ashley is candid today and shares with us some of his most fulfilling experiences as an advisor.
If you’re interested in how to navigate out of the insurance world and into the fee-only space, this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/321
Today, we’re excited to interview River Nice, XYPN member and founder of Be Intentional Financial, a fee-only firm focused on serving LGBTQ community members. River, whose pronouns are they/them, started their firm just over two years ago and has effectively served over 100 clients since opening.
River serves clients how they want to be served: through education and short-term relationships. River brings up a number of compelling points throughout the interview—questions of whether gender is a necessary consideration in planning, how our technology is set up to serve, or not serve, different communities, and reminding us how important it is to have representation within this industry. Their own personal journey is highlighted in this episode and how interestingly, through raising their own prices, they were able to have an even bigger impact on the communities they wanted to serve.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/320
#XYPNRadio’s very own host, Maddy Roche, is interviewed on the podcast today. Maddy is XYPN’s Senior Director of Member Success, a role in which she’s entirely dedicated to helping XYPN members be successful.
As the first employee, Maddy has been part of XYPN since the very beginning, and today, she shares her experience navigating change and the growth that comes along with it. She discusses how she inspires an “embrace change” mentality within her own team and offers advice on fostering a positive company culture and preserving that culture within a rapidly growing company. Maddy shares what it’s like to manage a team of managers—which she admits had a steep learning curve. We also spend some time reflecting on the fee-only movement, and the powerful role introspection plays in bettering yourself both personally and professionally. Having connected with thousands of fee-only advisors over the past seven and a half years, Maddy offers a unique perspective on what it really means to be a part of the XYPN movement, what exactly REAL financial planning entails, and the impact XYPN advisors have on the lives of others and on the industry at large. Maddy also shares her own experience working with a financial advisor and how recently engaging advisors who are also life planners has changed her outlook and shaped her trajectory.
If you’re interested in learning more about the story of #XYPNRadio’s host, Maddy Roche, what her seven and half year journey with XYPN has looked like, and how her introspective mindset and approach have helped her continuously better herself both as a team member and as a person, this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/319
We’re excited to talk with Danika Waddell today, owner of Xena Financial Planning, a long-time follower of XYPN, and a relatively new entrepreneur. As you’ll hear, Danika has experienced rapid growth in her newly-launched firm and now serves over 60 clients just 13 months in. So, what’s her secret?
As we explore today, you’ll hear that it comes down to knowing your strengths and weaknesses and creating a dream team to help you stay sane and serve your clients. Danika discusses how she relies on and leverages her community, centers of influence, and coaches to help her stay on track. She talks about the nuances of pricing in Washington state and how she expects to change her firm in the future. Danika shares the softer side of how she approaches her firm, takes care of herself, embraces the abundance mentality, and is motivated by making financial planning accessible to more people.
If you’re interested in how to hit the ground running and find success when you launch your firm, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/318
We’re excited to welcome Tom Lo, XYPN Member and founder of Vested Financial Planning, on the show today. As his firm name alludes to, Tom works with Silicon Valley tech professionals and has a particular focus on helping clients through a liquidity event at their company.
Tom shares that he, too, went through a liquidity event at a tech startup and found it to be so complicated of an experience that it became one of his motivations to change careers and help others with his expertise. As Tom discusses today, a liquidity event at a tech startup is a great opportunity for sophisticated and technical planning from a third party, like himself, to provide unbiased perspective to those who are emotionally invested in the process. Tom dives into how he serves his clients effectively by outsourcing major components of his business—from asset management to bookkeeping. He discusses the softer side of being a business owner, too, like what it means to have control of your destiny, complete control of your business, and of course, flexibility.
If you’re interested in working with this niche or gaining any of what was just mentioned, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/317
Today we’re excited to have Jerry Kauffman, a Certified EOS Implementer on the show. EOS is the Entrepreneurial Operating System—a system designed to help entrepreneurs get more of what they want out of their businesses. XYPN integrated the EOS model into our organization just about three years ago, with the help of Jerry, and today we’ll discuss the core components of the system and how it can level up your business.
Jerry talks through the major components of the EOS model—from setting rocks, to the meeting rhythm, to deciding measurables of your scorecard. He discusses the difference between the visionary role and the integrator role and even gives us some behind-the-scenes takeaways from working with Alan Moore and Michael Kitces, both visionaries.
Jerry will be hosting an interactive Pre-Conference workshop at #XYPNLIVE 2021, where he will share the benefits of implementing this system for your company. Check out more details and register for that event here.
EOS is a core component of how XYPN runs its business, and today's episode will give you some ideas on how to get more out of your business using EOS principles.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/316
We’re excited to welcome Daniel Kopp to the show today. Daniel is the owner and founder of Wise Stewardship Financial Planning—a two-year-old, 100% virtual fee-only firm that serves over 25 widows and military personnel.
Today, Daniel talks about what it was like starting his firm while navigating some difficult personal circumstances. While he waited for approval to start his firm, he conducted 100 informational interviews, prepared for his CFP®, and got clear on who he wanted to serve and how. Despite pricing himself a little low out of the gate, today, Daniel has a backlog of clients reaching out and credits a lot of his accelerated growth to the investments he made in GoogleAds early on and targeting his niche in Facebook Groups. Daniel shares the importance of a supportive advisor community as he continues to grow his firm and how he would have never started on this journey if he didn't know what was possible thanks to some of the original stories shared on #XYPNRadio.
If you’re interested in what it’s like to build a niche-focused intentional firm, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/315
There is no one-size-fits-all approach to starting or scaling a practice, and today, we sit down for a conversation with XYPN member Spencer Stephens who has taken his own path starting and scaling his firm. Stephen, like many folks, is interested in building a lifestyle practice vs. an enterprise practice. He founded Rooted Interest, a fee-only firm in Salt Lake City, Utah, in 2017, and today, he discusses why he serves a smaller client base than other comparable firms.
He discusses why he continued to stay employed at his father’s CPA practice full time while building his firm. Spencer is a dad of five, and it was important for him to get into the giving profession to help his clients in the ways that work best for them while not sacrificing what is best for himself and his family. Spencer talks about his intentionality in building slowly, his annual expenses (hint, it's still under the 10k mark), and what his plans are for ramping his business up.
If you’re considering starting a practice at a slower rate or on a part-time basis, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/314
We’re excited to introduce you to Cathy Curtis, founder of Curtis Financial Planning, a fee-only firm out of Oakland, CA. Cathy has run her firm for over 20 years and shares just a sliver of her experience on the show today.
Cathy is a solo advisor—and always has been. She serves women, specifically breadwinning women, and to this day, finds 1:1 client work her favorite part of running her firm. Cathy discusses flow and how to find it, the kind of insecurities women face as they try to understand their finances, and what it’s like to vision board your future. She reminds listeners that outsourcing should be considered an investment, and there’s no reason to try to do everything on your own, whether you hire or not. Cathy shares that her imposter syndrome went away when she finally niched, and since then, has found major success and fulfillment.
Cathy has some incredible advice to share with you today, and if you’re interested in what it’s like as a solo advisor 20 years in, then this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/313
We’re excited to welcome Vinicius “V” Hiratuka, founder of Elevated Retirement Financial Services, on the show today. V serves just over 50 client households on an AUM basis, folding his financial planning and investment management into a single comprehensive fee. Despite being relatively young, V serves almost exclusively pre-retirees—and loves doing it. He talks about the oh-so-familiar feeling of wanting to do things differently and why breaking out on his own was so important to him. He reminds listeners to pay themselves first, from his own experience to not to be in a rush to venture out on your own. He talks about why his previous experience was integral in his decision to focus on this niche, how he’s been able to leverage his youth as a value to his clients, and why he continues to work for a different business owner on the side. V’s simplicity to his approach, along with his dedicated focus on the things that matter, is truly inspiring.
If you’re interested in the pre-retirement and retirement space but want to do it your way, then this episode will be for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/312
We’re excited to have Alan Moore, the CEO and Co-Founder of XYPN, on the show today. XYPN just celebrated its 7th year, and it’s been about a year and a half since Alan hosted his last #XYPNRadio episode.
Today, he joins us to discuss what this whole journey has been like—from starting the business to managing a team through COVID, all while being a dad (now with three kids). Alan opens up about nerves, some worries that have lingered over the years, and reminisces on some of his favorite times at XYPN. He talks about the importance of hiring a team that complements his strengths and weaknesses and what it’s been like to work alongside Michael Kitces as a co-founder. Alan gives valuable advice to our listeners through telling his stories—from which books helped him change his perspective to how to think of entrepreneurship as a creative outlet.
If you want to know how XYPN and Alan Moore have evolved over the years, then this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/311