Behind The Advisor

We're excited to have XYPN member Pierre-Emmanual Jovue, owner of InsuraWealth, a fee-only firm out of Tampa, FL, on the show today. Pierre started his firm in 2016, and today, serves 85 clients, most of whom are young professionals. Pierre talks about how and why he "niched" his client base to focus on a specific employer and explains how a narrow niche and use of LinkedIn and referrals have allowed him to grow his firm rapidly. We also dive into Parkbo, the app Pierre recently created to help his clients with cash flow, and how he plans to build out that business to better serve the masses. We dig into his pricing structure, and what Pierre has to say to advisors who challenge his low fees. Pierre doesn't hesitate to discuss the things that have been challenging: compliance, working alone, and balancing essentially two businesses, but as he says, he loves his work so it doesn't feel like work. If you're interested in what it's like to start not one but two businesses while continuing to serve a large client base, then this show is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/283

We're excited to have XYPN teammate, Dan Keslin, on the show today. Dan is the Director of XYPN Books and he joins us today to shine light on the responsibilities of an RIA owner when it comes to keeping books and financial records accurate and updated—a task many advisors underestimate when starting out. Dan talks about how having a deep understanding of your accounting allows you to make strategic decisions about your firm, compare yourself to benchmarks, seek credit, and even know when it's the right time to hire. He walks through best practices for reconciling books and creating a chart of accounts, and breaks down what XYPN Books can offer advisors—and what to consider when outsourcing certain aspects of your business. If you're interested in what it may be like to balance your own books, or outsource it to the pros, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/282

We're excited to have XYPN member Britton Gregory, owner of Austin-based fee-only firm, Seaborn Financial, on the show today. Britton had a long career as an engineer before catching the personal finance bug and deciding to chase his encore career. Today, he stays connected to his career roots by serving engineers. Britton describes the mental and emotional process he went through as he switched his careers, and explains how being a former engineer has been helpful in building a business that serves them so effectively. Britton spends time talking through his decisions about how he prices and delivers his services, and why and how he's tailored both to the needs of his unique clients. He also talks about the KPIs he tracks, and how the rhythm of the Entrepreneurial Operating System has helped elevate and structure his year. Britton also provides his take on where he envisions the financial services industry heading in the years ahead. If you're interested in pursuing a career as an advisor but wonder if the leap is worth it, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/281

We're excited to have XYPN member Justin Brownlee, owner of the Houston-based fee-only firm Brownlee Wealth Management, on the show. Justin started his own firm last year after spending nearly a decade in the insurance and brokerage world. If you're wondering what it really takes to build an intentional and niched firm, this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/280

We're thrilled to have Lucy Robeson, the Managing Director of AdvicePay, a compliant payment processor for financial advisors, on the show today. Like many others on the show before her, Lucy took a meandering path to where she is today. She started her career as a retirement actuary, spent some time as a non-profit coordinator in Fiji, then moved into the RIA space and pursued her CFP® designation. Now several years later, Lucy lives in Bozeman, MT, where she leads a 14-member team. Lucy discusses how she was able to successfully make those career pivots (hint: it involved a lot of hustle and leaning in) and how those pivots have brought her to where she is today—a place and position she really loves. She shares when she questioned her "why" and how she continued to imagine and work towards a better, more fitting position for herself. Lucy's tips aren't just limited to those in the financial services industry; they're universal. Listen in as she shares how to carve out a place for yourself, how to hone your mental resilience, and how to manage a high-performing team. As someone who was always used to executing, Lucy also offers sage advice about how to transition from a doer to a manager of doers. If you're struggling to find a position that's the right fit for you, then you won't want to miss this episode. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/279

We're excited to have XYPN member Morgen Rochard, owner of Origin Wealth Advisors, a fee-only firm out of Austin, TX, on the show today. Morgen joined us on episode 178 to share her journey transitioning from a trader to a firm owner. Today, Morgen joins the show to share what she's been up to over the past few years, specifically how she continues to run a high revenue business with just 25 clients, working 8-10 hours a week. Morgen discusses what it was like to delegate some of the major responsibilities to one of her teammates, why she limits the number of clients she takes, and how she has incorporated life planning into her firm for a more authentic relationship. Most importantly, she gives great advice to any working parent out there who dreams of one day starting a firm. If you're interested in what it's like being a parent and business owner, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/278

We're excited to have Emily Purdon, Director of XY Tax Solutions (XYTS), and Sara Williams, Operations Specialist at XYTS, on the show today. We dive into what it's like to roll outsourced tax prep under an RIA - specifically how to leverage experts to deliver great client experience, and how outsourcing can help you stay sane as you continue to scale your firm. Today, Emily and Sara talk to listeners about compliance concerns related to offering outsourced tax prep, the pricing considerations when offering the service, and advice on how to generally ensure that you're outsourcing at the right time. Be sure to explore the three new options for engaging with XYTS, because this year, XYTS is preparing to complete over 2000 tax returns, and they already have 700 secured. If you're interested in what it's like to outsource tax preparation in your RIA, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/277

We're excited to have XYPN member Cady North, owner of North Financial Advisors, a fee-only firm in San Diego, California, on the show today. Cady joined us on #XYPNRadio nearly four years ago, during Episode 79, to share her journey transitioning from the corporate world into that of an entrepreneur. Today, she talks about what she has been up to since then: establishing a great work-life balance, moving across the country, and most impressively and recently, writing a book. Writing a book was always one of Cady's goals, but one she never made any progress towards achieving. With some soul searching and an author's program at her alma mater, Cady was able to write the book of her dreams in just 8 months. Cady talks today about why she chose the topic she did (surprise, it's not about financial planning!), the actual process she went through to write and publish it, and most importantly she shares some of her tips that she uses with her financial planning clients who want to achieve goals but haven't yet been able to move towards them. If you're interested in what it's like to actually go after your dream, whether it's launching a firm or writing a book, or both, this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/276

We're excited to have student loan expert, Heather Jarvis, and college funding expert, Joe Messinger, on the show today. This year for #XYPNLIVE(ish), XYPN's annual national conference turned virtual, Heather and Joe are offering a combined Post-Con for advisors interested in learning about the dynamic landscape of college planning and student loans. Today, Joe and Heather highlight the issue of students and parents making unprepared and uneducated decisions around these nuanced and evolving topics of college planning and student loans due to a lack of clear and concise information. Joe and Heather challenge advisors to raise the bar of advice in this space by equipping themselves with the tools and resources that their clients deserve. Most importantly, Heather and Joe remind us that clients need advisors who can listen, sympathize, and shine light on the potential long term impact of decisions around paying for college. If you want to be prepared to discuss college and student loan planning with your clients, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/275

We're honored to have George Kinder, who many know as the founder of life planning, and Lora Woodward, Communications Director at the Kinder Institute, on the show today to discuss the Seven Stages of Money Maturity Post-Conference they have planned for XYPN LIVE. On today's episode, we hear from George and Lora about what advisors can expect during the two-day training and what they can expect out of incorporating life planning into their firm. Lora and George discuss how life planning has the power to transform the standard client/advisor relationship and turn a financial planning engagement into a long-term, meaningful relationship. George and Lora remind us that listening and mindfulness are fundamentals of the client/advisor relationship. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/274