Behind The Advisor

We're excited to have XYPN member Levi Sanchez, founder of Millennial Wealth, a fee-only firm in Seattle, Washington on the show today. Like many advisors, Levi got his start in this industry immediately after college at Merrill Lynch and went through their advisor training program. Although he only spent about three years there, he speaks highly of the experience and credits it for training him on establishing real personal rapport with clients. After starting his CFP® curriculum and leaving Merrill, he decided to open up his own RIA with a then-business partner, both when they were just in their mid 20s. Although the partnership only lasted for about a year, Levi serves over 60 clients today on his own. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/263

We're excited to have XYPN member Therese Nicklas, owner of Wealth Coach for Women, a fee-only firm in Rockland, MA, on the show today. With 40 years of experience in this industry, Therese has spent time working in the insurance business with employee benefits as well as a substantial stint at LPL. However, it wasn't until 2016 when Therese decided to sell her commission business and open up her own fee-only firm. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/262

We're excited to have XYPN member Leslie Ransom, owner of Indie Financial Planning, a fee-only firm in Chicago, IL, on the show today. Having spent nearly two decades on the sale and distribution side of the music industry, working with bands and music labels all across the nation, Leslie was first introduced to the concept of managing money and providing advice when the music economy began to move to digital and the U.S. economy headed into the 2008 recession, and found herself without a job. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/261

We're excited to have XYPN member Tyler Landes, owner of Tandem Financial Guidance, a fee-only firm in Kansas City, Missouri, on the show today. Tyler has a really unique experience building his firm. In 2014, Tyler became a founding member of XY Planning Network and joined the then-group of 30 financial advisors and discovered how he wanted to build his own firm. Being a planner, however, Tyler wanted to launch and run his firm while remaining cash flow positive, so unlike a lot of advisors, Tyler took a part-time job to make the dollars work. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/260

We're excited to have XYPN member Dave Rowan, owner of Rowan Financial, a fee-only firm in Bethlehem, PA, on the show today. Dave is a career changer; he spent a majority of his professional life at Crayola - yes, the Crayola - as the Director of Research and Development, and though he loved his work, he found that he was drawn to financial planning and decided in 2010 to start his own firm on the side. While Dave remained employed full time at Crayola for seven years while he ran his firm part time, he found that he was having trouble balancing all of his personal and professional responsibilities, and ultimately, his mental health declined. Dave became restless, anxiety-ridden and depressed, which ultimately led to his decision to leave Crayola and focus on a career that gives him the most fulfillment. Join us as we discuss the mental health stigma and Dave's career-path, from having a high-level position in a corporate environment to running his own firm. Learn how he has prioritized happiness and ways to practice self-care through meditating, eating right, and more. Finally, listen as we talk about embracing what he calls an "experimental attitude" and having fun discovering what serves you in order to ultimately serve your clients more authentically. If you're interested in hearing about how to take care of yourself personally during these turbulent times, this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/259

We are thrilled to have XYPN member, Angie Furubotten-LaRosee, owner of Avea Financial Planning, a fee-only firm in Richland, WA, on the show today. Angie shares her unique experience in the world of entrepreneurship, having launched her firm once in 2011 and then again in 2018 and she expresses the challenges she and others have faced when starting a business, particularly in those first few years. Join us as we talk extensively about niches: from 2018 when Angie's niche was college planning to today, where she now serves women in the STEM industries. Listen as she discusses how she leverages the support of coaches, training, and her network to help her not only stay motivated, but to hone her message and her niche. If you're interested in understanding how to pivot a niche, then this podcast is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/258

We're excited to have XYPN members Diana Bacon with FSG out of Dallas, TX, and Scott Bell with GDP Inc out of Manhattan Beach, CA on today's show. Both Diana and Scott started and grew their own RIAs during the 2008 recession. During this episode, we reminisce about their experiences getting started in the industry and their decision to go out on their own during such a tumultuous time in our history. You'll also hear Diana and Scott share their advice about what to consider when starting a business during a recession for those of you who are hoping to break into the industry. Finally, you'll learn about the changes that they've witnessed throughout their careers: the entrance of more women into the industry, the impact of technology, the ability to reach diverse clients, and finally, how the industry has become more and more focused and in demand of real client relationships. Although our world has changed as we're each faced with so much uncertainty around COVID-19, not much has changed for Diana or Scott; their strategies remain the same and their passion continues to drive their work. If you're interested in what it's like to launch and grow a business during a recession, this episode is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/257

This week, we're changing things up and are excited to have XYPN coaches Emily Purdon, Arlene Moss, Carolyn Dalle-Molle and BB Webb on the podcast today. Once COVID-19 became recognized as a global pandemic, the XYPN team recognized that advisors were going to be facing new experiences, opportunities, and hardships. As we braced for a new reality, the XYPN Advisor Success team rolled out "The Way Forward", an initiative that leans on the expertise of all of these coaches to provide advisors with the tools they need to handle the 2020 market disruption and beyond. Today, Emily, Arlene, Carolyn and BB share what they've built for our advisor community, including the resources and programs that comprise "The Way Forward." From providing open coaching opportunities to webinars and educational courses around how to market in our new world. Emily and Arlene speak directly about actionable steps advisors can take to plan for and build a business in today's environment while Carolyn and BB discuss changes to your marketing/sales processes. What they do all agree on is keeping the human component of the advisor client relationship front and center. There's no denying that we're in a shared crisis with our clients for the first time ever. This provides a meaningful opportunity for advisors to be seen as solution providers to their clients, but more importantly, a real human that understands what it's like to wake up every day right now with uncertainty. If you're interested in what XYPN has done and continues to do to support advisors in a time of crisis, this episode is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/256

We're thrilled to share the story of XYPN member, Chuck Donalies, on the show today. Chuck is the owner of Donalies Financial Planning, a fee-only firm in Washington DC. Chuck started his career in the biotech space, but while pursuing his MBA, he was drawn to financial planning. Shortly after graduating, Chuck changed careers by taking a position at a fee-only RIA—what he describes as the perfect entry point into this space. In today's episode, Chuck details his six-year journey developing the skills and tools needed to run an RIA while pursuing his CFP designation. As a self-described introvert, Chuck has leaned into a community of like-minded financial advisors with the belief that the more willing you are to put yourself out there, the more you'll get back in return. Through his journey, Chuck felt the itch to go out on his own—to serve clients he wanted, on his terms—which led to his decision to open up his own RIA. Launching a firm provided Chuck the flexibility to focus on his priorities—spending time with family and staying mentally and physically healthy—and to ramp up his firm now that his kids are getting older. Whether you're an introvert wondering if you can create a path in financial planning or a career changer looking to make the switch, this episode has something for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/255

Today, I'm excited to welcome Kenneth Klabunde, founder of Precedent Asset Management in Indianapolis. When we last spoke with Kenneth four years ago, his firm was just getting established. Now, he's returned to share how his business has not only survived but thrived through recent market volatility. What struck me most during our conversation was Kenneth's remarkable achievement: amid significant market turbulence, his firm didn't receive a single panicked client call or email. This wasn't luck—it was the result of a deliberate strategy. Kenneth shared fascinating parallels between client responses to COVID-19 market conditions and what he witnessed during previous downturns in 2001 and 2008. He's identified consistent patterns in investor psychology and developed a communication approach that addresses concerns before they escalate into panic. If you're interested in how to run a hyper-efficient team while giving your clients an unprecedented level of comfort, you won't want to miss this episode. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/254