Behind The Advisor

Today's episode is great for all financial planners, but especially those wanting to incorporate more in-depth tax planning—and even tax preparation—into their service model. XYPN member Dave Zaegel is here to share his journey from public accounting to financial planning to starting not one, but two firms of his own. Now a partner at both an accounting firm called CPAs for Hire and a financial planning firm called CWOs for Hire, Dave provides comprehensive financial planning services, including tax work, for his clients. In this episode, Dave discusses how his two businesses are structured and how they work together within his service model. He also talks in depth about the way his financial planning process works, why he decided to focus on a niche of small business owners, and his plans for the future as both of his businesses continue to grow. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/183

Although he didn't expect to become a financial advisor, Evan Loomis is now a successful owner of a firm that has gained 22 clients in just one year. How did he get there? In this episode, we'll hear about his start in collections, as well as how he excelled in his financial career due to his work ethic and ability to ask the right questions and listen. Evan discusses how he strives to improve people's lives through his unique philosophy that unites his passion for soccer and finances, and opens up about the issues he had working at different levels of the financial sector that pushed him to move to a smaller firm before eventually starting his own. He also shares why he still coaches on the side, how he leverages his soccer network and what his plans are for the future of his firm. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/182

Today I'm excited to have XYPN's Chief Operating Officer, Raul Dominguez, on the show! After spending the first part of his career as a Navy helicopter pilot, Raul decided to transition to civilian life and ultimately joined our team back in 2015. He joins this episode to share what his day-to-day looks like as COO in order to give listeners some insight into what operations-focused team members do—and why they are so valuable. We talk in depth about the concept of the visionary and integrator roles that we've been exploring lately on the podcast, and we discuss helpful tools for clarifying roles and responsibilities, goal setting, and developing staff. Whether you're an entrepreneur thinking about hiring an operations manager or someone who wants to be on the operations side of things, this is an episode you don't want to miss. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/181

XYPN co-founder Michael Kitces is back on the show! For the second year now, we have collected data from our member firms to help us better understand their businesses and how they're operating, and Michael joins me today to talk about what we found. We dive into our 2018 Benchmarking Study's primary charts and cover key data points that will help advisors thinking about launching a firm set realistic expectations about growth. How much revenue should you expect for your first years in business? Is it really necessary to find a niche? Does the CFP even matter? Listen in to get those answers and more! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/180

XYPN member Michelle Gass has had quite a unique path into the financial planning world. After starting her career as a tax accountant, Michelle transitioned into a family office, and then ended up launching and running a successful hedge fund for over twenty years. It wasn't until after she retired that she decided to get her CFP and launch her own financial planning firm. Now the founder of Paradigm Advisors, a fee-only financial advisory practice that focuses on guidance and support, Michelle joins this episode to share her professional journey. She opens up about what it was like starting a firm from scratch, what her business looks like today, and the important lessons she learned along the way. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/179

Morgen Rochard started out trading but eventually ended up owner her own RIA firm. In this episode we will learn how her trading experience has affected how she does business and actually guided her into financial planning. She shares her journey with us and tips from her experience in breaking into the financial planning world, growing a firm and even advice for women who want to start a firm AND a family. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/178

Danna Jacobs and Rob Colon are an impressive brother and sister duo that went from launching a firm in 2013 with just one client—who happened to be their grandfather—to running not just one, but two successful businesses. The founders of Legacy Care Wealth and Inspired Vision Accounting, Danna and Rob have figured out how to balance their particular strengths and weaknesses to form a strong partnership. In this episode, they share how their brother/sister dynamic works for their business, as well as how they divide up responsibilities between Danna's role as the integrator and Rob's role as the big-thinking visionary. Listen in to hear what they did to grow their businesses to where they are today, the technology tools they use to help manage their assets and to-do lists, and advice they'd give themselves if they could go back and do it all over again. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/177

Todays' guest decided to start his own firm just six months after buying into a partnership to become the succession plan for a retirement-age advisor. Now the founder of Greater Than Financial, Wakefield Hare began his journey to starting his own firm after he learned about XYPN in 2015 and realized that he wanted to serve clients his way. Three years later, Wakefield runs a successful practice serving just over 100 client households, and he has started to focus more on his niche of working with homeschool families. But now that he has achieved all that he initially set out to achieve, he admits that contentment has kept him from actively pursuing more opportunities. Listen in to hear our discussion about what made him decide to take the leap and start his own firm, how he built it to the success it is today, and what drives you in your entrepreneurial journey when you realize you have enough. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/176

My guest today is a great example of how powerful it can be to nail down a niche. David Barson is the founder of Barson Financial Planning, and nearly two years after starting his firm, he has really started focusing on his ideal client profile: Genentech employees. Having started his own career in biotech and worked at the company himself, David is able to connect with current employees in ways most other advisors can't, making his client relationships that much stronger. In this episode, David shares his experience transitioning into the financial planning world and ultimately making the leap to starting his own firm. Listen in to hear how he built his firm from the ground up, as well as key advice for other advisors hoping to do the same. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/175

When it comes to balancing work and life, Linden Cornett seems to have found a really interesting way to do that. Last time we spoke with her she had promised her family to not work as much by taking on only 5 new clients per year. In this episode we catch up with her to see how this plan has gone and how she is balancing family life, her practice and a part-time job. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/174