We’re excited to welcome back Shane Mason and AJ Ayers, co-founders of Brooklyn FI, for a check-in on their growth trajectory since we last spoke with them on episode #221. Brooklyn FI now has 10 fully remote employees, serves over 200 client households, and is pushing the two million dollar mark in revenue. 

On the show today, we discuss what that growth has been like—from identifying great new talent for their team to handling the crazy demands of this year’s tax season. They talk about why hiring an operations teammate was vital for their scalability and how their fee calculator helps with transparency. Shane and AJ share their take on their impact, why they got into this business, and how they’ve managed to keep up with the demands of their growing firm. You can sense their authenticity and their passion for what they do in this interview, and it’s hard not to want to be part of their superstar team.

If you’re looking for some advice about growing and scaling your business, then this episode is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/310 

We’re excited to have four XYPN members and firm owners on the show today. Becky Meats, Bonnie Arnold, Molly Laughter, and Adrienne Ross were introduced to each other during their XYPN Launcher program in 2019 and have met every week since then as a mastermind group.  

We dig in and discuss what makes this group work—from the framework to the attitudes, and how they ensure the meetings and group are helpful for each of them. We talk about imposter syndrome, pivotal points in the group's history, and how being part of a group of others at the same level is helpful instead of being competitive. You’ll hear them share stories of how the group has been a lifeline (in every sense) and how they couldn’t imagine running solo firms without the support of a group like theirs. The laughter and energy this group shares is contagious and motivating.

If you’re not yet part of a study group or worry about the challenges that come along with running a firm on your own, this episode is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/309  

We’re honored to welcome Vince Hockett, XYPN’s Chief Revenue Officer, to the show today. Vince joined the XYPN team just about one year ago and has brought decades of experience working at rapidly growing companies along with him. 

Today, Vince shares what it’s like working with Alan and Michael as a fellow executive and what it’s been like to manage the group of young leaders that ultimately deliver the promise of XYPN membership (and then some). Vince pulls the curtain back on his management style, which is unique and powerfully productive. We draw some similarities between the XYPN Network and the member firms that make up our community—specifically related to the building and scaling phases of the firm owner’s journey. He talks about what it’s like to work with the EOS model, what he sees as some of XYPN’s business challenges, but most importantly, what it’s been like to work at a progressive, disruptive company that lives and breathes its core values.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/308 

Today, we’re excited to introduce you to Kelly Klingaman, Vice President and Regional Director of Dimensional Fund Advisors (DFA). Kelly has worked in the RIA space for the past 12 years, helping advisors around the country understand and communicate investment management strategies to their clients. 

Kelly explains that DFA partners with advisors to educate them on the academic research that DFA builds its principal theories around and how this credibility can be infused within their planning processes. Kelly discusses the decisions advisors face regarding their investment management programs and whether to outsource or manage them on their own. Because advisors are often limited in the amount of time they have to focus on the investment management aspect of their business, as well as the fact that many feel insecure about offering investment advice to their clients, she explains that the way advisors frame their investment services—the story they tell surrounding them—is often the most important aspect of how they approach investment management. Kelly points out that using anecdotes to explain why time in the market is better than timing the market can help a diverse crowd of investors understand the value of investing and the services you offer.

If you’re interested in learning how to better tell the story of your investment management philosophy, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/307   

In today’s episode, we’re honored to speak with Cindu Thomas-George, a professor and the owner of Shakthi Diversity and Equity Training. Last year, Cindu shared some of her lifetime of experience and expertise with the XYPN Team. Later this year, you’ll have a chance to learn from her, too—Cindu will be delivering a three-hour interactive workshop as an add-on Pre-Conference event at #XYPNLIVE 2021, so don’t miss out.

Today, Cindu joins us to discuss what diversity, equity, and inclusion each mean and lays out a persuasive argument for DEI initiatives as a growth strategy within a business. She discusses the concepts of power and social capital and presents the moral case for considering these concepts within your work. She gives answers to tough questions like, “Is this conversation a political one?” and “What can advisors do to move the needle forward in the DEI space?” Today’s conversation highlights the power of the work being done by financial advisors who are bringing financial planning and literacy to communities who have not had access to it before. If you weren’t previously convinced that financial planning is an inherently impactful, helping profession, Cindu sets the record straight.

If you’re interested in learning about how DEI makes businesses thrive, then this interview is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/306  

Today, we have the privilege of talking to Terria Heng and Shelby Brown, two of XYPN’s Compliance Coaches who together have nearly two decades of experience as examiners and compliance consultants.

Terria and Shelby discuss with us their recommended approach to compliance, the time commitment required to ensure you’re creating a culture of compliance within your firm, and several other compliance considerations that keep RIA owners up at night. They give great advice like how to trust your instincts, and they deliver valuable insight into how regulators and examiners approach their jobs. They discuss the required compliance changes involved when you add a teammate, approach SEC registration, or make a considerable mistake. Terria and Shelby’s perspective on compliance is refreshing, and you can’t help but absorb some of their energy and passion for all things compliance.

If you’re interested in how your compliance responsibilities will evolve as your scale your firm, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/305  

Today we have the honor of speaking with Chris Dale and Julie Quick, two XYPN members and RIA owners who make a tremendous impact in their clients’ lives as they focus on the complex niche of people in transition, specifically those dealing with grief.

To begin our conversation, Julie and Chris define grief and explain the complexities and emotions of the grieving process. They discuss how essential it is to humanize the experience of grief and to understand the longevity and vulnerability associated with processing grief—a perspective that is necessary when working with someone in transition. You'll hear Chris and Julie discuss the unique aspects of their firm and service model that allow them to be much more than just financial planners to their clients—they often introduce their families to their clients and share their own stories of grief. Given the time commitment of this type of advising relationship, questions arise about scalability. You’ll hear their tips for continuing to build a practice while maintaining a meaningful relationship with each one of their clients founded on support, friendship, and empathy.

If you’re interested in supporting and guiding clients through transition, this episode is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/304  

Today, we have an exciting conversation with Ryan Mohr and Eric Thomas, owners of Clarity Capital Management, a fee-only firm out of Portland, OR, where we talk about all things partnering—how to do it, when to do it, and all of the potential benefits. Three and a half years ago, Ryan started his firm as the sole owner and built it to serve over 45 client households. As the pressures of growth continued, the desire to bring on a partner was at the forefront of his mind.

On today’s show, Eric and Ryan talk about their decision to partner together, how they established equity buy-in for Eric, and the process they followed to finalize their agreements. Eric discusses why the timing was right for him to transition into the fee-only space now vs. when Ryan originally opened the firm. Ryan shares what it was like to offer equity into the company that he built from the ground up. This discussion provides a great example of how to partner with intentionality after a strong foundation has been built.

If you’re interested in what it’s like to bring a partner into an established firm, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/303  

Today we’re excited to welcome Pearl Michalson, XYPN’s Internship Coordinator, to the show. Pearl has built XYPN’s internship program from the ground up and has a wealth of expertise when it comes to all things interns and internships. From identifying top talent to training managers on how to best utilize interns, a lot goes into making an internship a successful and rewarding experience for all.

Pearl shares her unique theory around internship programs with us and the wide variety of work that interns can accomplish, which will be of interest to many of our listeners. Her experience in organizational leadership allows her to speak to the importance of communication within organizations and why new and diverse talent elevates a company. As opposed to thinking of interns as another person to manage, she invites our listeners to seek out what an intern can teach them, how they can improve the organization, and see the world through a different lens. Pearl has advice regarding what to look for in interns, how to train them, and how to consider what they can do within a company if given the opportunity.If you’re interested in hiring an intern, then you’re not going to want to miss this episode.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/302  

We’re incredibly excited to have Ashlee deSteiger and David Rae—two XYPN advisors and RIA owners—on the show today to talk about everything that comes along with working having your spouse as a coworker. Ashlee’s husband joined her firm, Gunder, after seeing the momentum and freedom she enjoyed while running the firm, while David hired his husband at his firm strategically to support not just his firm, but his lifestyle as well.

In this episode, you’ll hear Ashlee and David discuss the good, bad, and the ugly of working with your spouse—from how they take walks (alone) to tag-teaming duties. They also talk about the decision to hire a spouse generally and what it’s like to market your firm with your spouse and serve clients as a team. Ashlee shares what it was like growing her firm during COVID and with three small kids at home. David reminds us of how good things can be when we define our ideal life and work towards it each day while embracing the inevitable challenges.

Whether you’re starting your firm with your partner or just starting your firm, you won’t want to miss this episode.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/301  

Today, we have two remarkable XYPN members—Tremaine Wills and Charles Ho—on the show. Tremaine and Charles both left the broker-dealer space knowing they were destined to do more meaningful work. Both ended up finding major fulfillment in being owners of their very own independent RIAs.

We speak with both Tremaine and Charles about their previous professional backgrounds, including the tears that were shed, the pressure that was applied, and the emptiness they both felt around the work they were doing. We discuss the ideas of time freedom, mission-driven work, and what it feels like to burn out. Tremaine and Charles talk very transparently about what it took in terms of support, mental stamina, and confidence to make the leap and become their own bosses. They highlight what success means to each of them and how, despite the pressure they felt from their employers, it wasn’t about making money. Instead, success to them is all about making an impact.

If you’re feeling dissatisfied or unfulfilled in your current position, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/300  

We’re thrilled to have four incredible XYPN members on the show with us today: Alexandra Baig, Neil Mahoney, Todd Sensing, and Matthew Ricks. Each advisor has built a practice that either focuses entirely on or incorporates special needs planning—a unique niche that brings its own challenges, and of course, rewards. 

From soft skills like trust and sensitivity to having deep technical expertise, specific requirements are needed to serve the special needs community. Alex, Neil, Todd, and Matthew share their individual approaches to working within this niche. Some adjust their payment structures and service models to serve their clients better, while others have developed particular marketing techniques that resonate with this community. They also touch on the importance of staying up to date on the ever-evolving nuances within the special needs space and how you should be ready to speak the language of your clients, meeting them where they are.

If you’re interested in working with the special needs community, or just hearing what it’s all about, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/299     

Today, we’re excited to talk with three extraordinary people—Aaron Agte, Michael Reynolds, and Trishul Patel—with three remarkable things in common: they are all RIA owners, XYPN members, and, to top it off, podcasters.

In today's episode, we discuss the intricacies of hosting a podcast as a primary component of a content marketing strategy. You’ll learn that each of these advisors approaches their podcasts a little differently in terms of structure, format, and purpose. Aaron and Trishul team up to host their podcast together, while Michael hosts a live show and finds this to be the format that is best suited for him. These three share their experiences leveraging this intimate medium, how listeners desire insights, not information, and how podcasting has allowed them to establish credibility among their listeners and within the industry. They also offer their expertise about which platforms and technology to utilize and tips for keeping a cadence that works for you while maintaining a passion that’s contagious.

If you’re interested in exploring what podcasting can do for your firm, this episode is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/298

We’re excited to have John Mason and Tommy Blackburn on the show today. John and Tommy are partners at Mason & Associates, a fee-only firm out of Newport News, Virginia. Tommy and John are friends, first and foremost, but also business partners, both working at a firm that John’s uncle and father started together in the early 80s. 

Today, the firm serves over 400 clients, a majority of whom are federal employees. John and Tommy talk about what it was like to transition the business from a broker-dealer into an independent firm, a transition they spearheaded just last year. John and Tommy reflect on what they gave up but, more importantly, what they gained by moving away from the broker-dealer structure. They share some sage advice about how preparation can be your best friend in a transition like this. John and Tommy also have a radio show together on their local radio station, and they discuss how radio marketing is a primary lead source for them and how it enables them to further their mission by expanding their reach and impact.

If you’re interested in what it’s like to transition an existing firm into the fee-only space and to do it with a dear friend, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/296        

We’re honored to have XYPN Director of Brand Communications, Kelly Moorman, on the show today to talk about all things brand. Kelly is a trained chemist, but married her experience with large data sets and analytical writing with her passion for storytelling to carve out a career in marketing. Today, she shares some of her best advice as a professional marketer and brand builder.

You’ll hear Kelly talk about developing a tone and voice that is real, and how that helps define your brand architecture and ultimately allows you to tell an authentic story that resonates with your audience. She explains the importance of knowing not just who you want to attract, but why, and talks about the power of repelling audiences, and why you should embrace that as much as you embrace attracting them. Throughout this episode, Kelly reiterates the importance of always knowing who you’re speaking to and meeting your target audience where they are. Kelly will leave you feeling motivated to evolve, iterate, and play with your marketing strategy—even if you aren’t a marketing guru. She’ll inspire you to be yourself, stay true to what you want to build, and most importantly, not waste your time on things that aren’t working.

If you’re interested in hearing from a professional brand expert, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/295    

We’re excited to have XYPN member Anna N’Jie Konte, the founder of the fee-only firm Dare to Dream Financial Planning out of Kensington, MD, on the show today. Anna started her firm in August of 2019 and now serves 27 clients, most of whom are business-owning women of color—clients who are just like Anna.

Anna tells us about her journey to going out on her own and how it took learning the stories of others to inspire her and paint a picture of what success may look like if she broke out on her own. She shares how being authentic is a magnet for her clients, and how her approach allows her clients to feel safe with her, and see the value of a long-term financial planning engagement. Anna’s three young girls can be heard in the background of the episode, but Anna is unfazed. Anna talks about what it’s been like to start a business from scratch as a mom and a first-generation American, the intentionality with which she’s built Dare to Dream, and how she uses a barometer of satisfaction to determine if something is working or not. Anna’s commitment to changing the reputation and face of this industry is clear, and her love for her work is even more so. Of her career Anna reflects, “I can’t believe I get paid to do this.”

If you’re interested in what it would be like to build a business as a mom and as a woman of color, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/294    

We’re excited to have XYPN member Ben Wacek, founder of Guide Financial Planning, and his firm’s Operations Manager, Amy Artiga, on the show today. 

A few years ago, Amy was a stay-at-home mom, looking to pivot into the financial planning industry, and she merged her interests of writing and helping pastors when she started a blog called the Pastor’s Wallet. After hearing Ben’s original interview on #XYPNRadio about targeting people who embodied biblical principles, pastors being some of those clients, Amy reached out to Ben about potentially working for him in a part-time capacity. The rest is, as they say, history.

Today, Amy continues to work part-time for Guide in a virtual capacity as an Operations Manager, but also helps build the actual business. Her blog has only gotten more popular and continues to send prospects to Guide. Ben discusses what it was like to hire when he wasn’t necessarily looking to, and discusses how Amy is an integral part of the firm. We discuss the EOS model, client surges, and what their future plans are for themselves and their business. 

If you want to learn about what it’s like to go from a stay-at-home mom, to helping run a financial planning firm targeting your ideal clients, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/293    

We’re excited to have XYPN member Todd Pouliot, owner of Gateway Financial, a fee-only firm out of Northfield, OH, on the show today. Todd started his career spending time as a captive insurance agent and a long-time rep at a broker-dealer. 

In this episode, Todd talks about his evolution to understanding the responsibilities of being a fee-only fiduciary advisor, and how that drove his ultimate decision to open his own firm. He walks us through his experience firing clients, transitioning them over, and eventually acting as a fully independent RIA. Todd speaks to the movement within our industry as being an evolution—not a revolution—and how he feels more deeply committed to his duty as an advisor than ever before. Todd serves nearly 60 clients and utilizes the support of virtual assistants to maintain balance and efficiency within his firm, but plans to hire virtually as he continues to grow. Todd shares his experience of finally finding a community of like-minded advisors, and how giving back, learning, and growing stay at the forefront of his purpose. Todd’s fee-only and fiduciary commitment to his clients drives all aspects of his business.

If you want to learn about what it’s like to transition from a broker-dealer to an independent RIA, and the fiduciary and fee-only commitments that come along with it, then this show is for you. 

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/292    

We’re excited to have XYPN members Dan and Natalie Slagle, owners of Minnesota-based fee-only firm, Fyooz Financial Planning, on the show today. Dan and Natalie are partners in life and business, and together have nearly 20 years of industry experience. 

Today, they talk about how they built Fyooz intentionally to reach their target market: successful, fun, and authentic couples. They discuss what sparked the fire to launch their firm, the sacrifices they made along the way, and how their relationship has allowed them to serve their ideal client base. Together, they serve 30 clients—and have the capacity to serve 50-70 more. Dan and Natalie walk us through how they delineate roles and responsibilities, and the inherent challenges of working with your spouse. They share their candid thoughts about the pressures of the fiduciary oath they’ve taken, how they manage anxiety, and, on a lighter note, discuss what they’ve loved most about building Fyooz.

If you want to learn about what it’s like to go into business with your partner, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/291     

We’re excited to have XYPN teammate, Taylor Deardorff, on the show today. Taylor currently manages XYPN’s Tech Team as the Product Owner, a role that allows her to leverage her deep understanding of member needs to design and create cutting-edge technology solutions for the Network.

Taylor pivoted into this industry when she joined Team XYPN back in 2018 as one of the original team members. We cover a lot of ground in this episode as we talk about the tech tools Taylor recommends for all advisors, insights into the role technology can play in scaling large business, and, how as someone who has managed anxiety her whole life, she’s been able to make decisions and move projects forward even when she’s not 100% confident. As an avid reader and efficiency whiz, Taylor shares her words of wisdom about uncovering your “why” and leaves listeners with some great book recommendations.

If you’re interested in how to leverage a technology mindset in this industry or your practice, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/290     

We’re ‌excited‌ ‌to‌ ‌have‌ ‌XYPN‌ ‌member‌ ‌Lamar‌ ‌Watson,‌ ‌owner‌ ‌of‌ ‌Dream‌ ‌Financial‌ ‌planning,‌ ‌a‌ ‌fee-only‌ ‌firm‌ ‌out‌ ‌of‌ ‌Reston,‌ ‌VA,‌ ‌on‌ ‌the‌ ‌show‌ ‌today.‌ ‌

Lamar‌ ‌started‌ ‌his‌ ‌career‌ ‌in‌ ‌this‌ ‌industry‌ ‌before‌ ‌he‌ ‌even‌ ‌went‌ ‌to‌ ‌college‌! ‌He‌ ‌was‌ ‌an‌ ‌avid‌ ‌follower‌ ‌of‌ ‌the‌ ‌stock ‌market‌ ‌and‌ ‌reader‌ ‌of‌ ‌Warren‌ ‌Buffet.‌ ‌While‌ ‌he‌ ‌was‌ ‌in‌ ‌college,‌ ‌he‌ ‌secured‌ ‌an‌ ‌internship‌ ‌at‌ ‌a‌ ‌diverse‌ ‌Scottrade‌ ‌branch‌ ‌where‌ ‌he‌ ‌received‌ ‌valuable‌ ‌insight,‌ ‌training‌, ‌and‌ ‌mentorship‌ ‌in‌ the ‌financial services industry.‌ ‌Lamar‌ ‌walks‌ ‌us‌ ‌through‌ ‌his‌ ‌career‌ from ‌how‌ ‌he‌ ‌pitched‌ ‌himself‌ ‌in‌ ‌an‌ ‌interview‌ ‌before‌ ‌he‌ ‌even‌ ‌graduated‌ ‌from‌ ‌college to how‌ ‌he‌ ‌climbed‌ ‌the‌ ‌ranks‌ and finally to ‌how and why‌ he‌ ‌decided‌ ‌to‌ ‌open‌ ‌his‌ ‌own‌ ‌RIA.‌ ‌Lamar‌ ‌talks‌ ‌about‌ ‌what‌ ‌it‌ ‌was‌ ‌like‌ ‌to‌ ‌move‌ ‌from‌ ‌a‌ ‌steady‌ high-paying ‌job‌ ‌to‌ ‌working‌ ‌one-on-one‌ ‌with‌ ‌his‌ ‌ideal‌ ‌types‌ ‌of‌ ‌clients‌—the newbies ‌who‌ ‌have‌ ‌never‌ ‌worked‌ ‌with‌ ‌a‌ ‌financial‌ ‌planner before.‌ ‌

If‌ ‌you‌ ‌want‌ ‌to‌ ‌learn‌ ‌about‌ ‌what‌ ‌it’s‌ ‌like‌ ‌to‌ ‌work‌ ‌your‌ ‌way‌ ‌up‌ ‌through‌ ‌this‌ ‌industry‌ ‌and‌ ‌then‌ ‌launch‌ ‌your‌ ‌dream‌ ‌firm,‌ ‌this‌ ‌show‌ ‌is‌ ‌for‌ ‌you.‌ ‌

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/289    

Today, XYPN co-founders, Alan Moore and Michael Kitces, join us for a special episode to discuss the findings of XYPN’s 2020 Benchmarking Survey. Each year, XYPN members participate in a comprehensive survey about their businesses, and each year, Alan and Michael discuss the trends they see, the themes that emerged, and their perspective on where the industry is headed. If you’re interested in hearing about what XYPN member firms are experiencing this year, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/288

We’re excited to have XYPN member Natalie Taylor, owner of Natalie Taylor Consulting Services, on the show today. Natalie is only 10 months into building a fee-only RIA business, but she has already served nearly forty clients since opening her doors in early 2020.

Natalie walks us through her professional background, which includes substantial experience in the financial industry, both on the private side and in the fintech space. Natalie credits her ability to scale her firm so quickly to the scrappiness she garnered while at a startup paired with the intentionality she places around how she executes her meetings and financial plan delivery with clients. Natalie talks about why she had to put potential clients on waitlists, and why she always prioritizes her family time and her client experience and will sacrifice neither to earn more money.

If you’re interested in how you can grow your business organically while remaining true to your goals, this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/287      

We’re excited to have XYPN member Helen Ngo, Founder of the Atlanta-based RIA, Capital Benchmark Partners, on the show today. A lot has changed for Helen since she was last on the show in 2017; she got married, had a baby, and has transitioned her firm to 100% virtual. What hasn’t changed at all is her passion for growing her business.

Today she serves over 70 client households, the majority of whom are attorneys. She’s settled into a pricing structure that is niched to the needs of her attorney clients, and finds the conversation around pricing to be (surprisingly) simple. Helen reminisces on what it was like to start her firm, and how her priorities have shifted from being the planner to being a real business owner: managing people issues, learning how to communicate more softly, and graduating clients, all while giving her new baby some love in between calls. Listeners will be particularly interested in Helen’s discussion about the pushback she continues to receive around being in the driver's seat of her own career. As a young woman in this industry, people still ask her who she works for when the real question is not who Helen works for, but who works for Helen.

Helen’s commitment to her business and this space remains strong, and she’s a fabulous example of what life looks like when you chase your dreams.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/286