Behind The Advisor

We often talk about the utility of the retainer model here at XYPN. One of our earliest members, Cristina Guglielmetti, is cleverly combining retainer clients with a lot of project work to craft an uber-flexible schedule that you'll find interesting. Cristina shares how she's created a business and schedule that work for her life as she raises a son and invests in a local bar with her husband and a group of friends from her MBA days. While she only has about ten retainer clients, she leverages interesting and productive project work to create the practice she wants. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/112

Mike Solari started his own independent firm in 2012 without a single client. He joined us here at XYPN in 2014, and we've gotten to witness his business grow as he's built a practice that serves about 26 people - two-thirds of which are on retainer. In this interview, Mike talks about his biggest struggles and successes running the business, and how he's made up for his own shortcomings with grit and education. We talk retainer fees, networking to find clients, and hitting that 5-year business milestone. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/111

We know our mailbag is overflowing, so we're back with another Alan & Kitces Unhinged episode to answer as many of your questions as possible! We've also received questions about how to talk to clients about transitioning from an AUM only model to a retainer + AUM model. Often it seems trickier than it is, and we've got some guidance on how to make it easy. And we'll talk about the relevance of performance reviews, and whether or not you should be providing them to your clients - especially the younger ones. This episode is chock-full of answers to your questions from the XYPN Radio VIP Community. Don't miss out, and join today so you can hear your question answered next round! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/110

Farnoosh Torabi is one of our keynote speakers at #XYPN17 this year, and on this episode she gives a little sneak preview of what she'll be talking about. Farnoosh kicks things off by telling us how she became one of the country's most popular financial experts. After studying finance in college, she decided she wanted to marry her expertise with money to her fascination with journalism so she could spread her knowledge to people of all walks of life. We also talk about why and how she wrote her first book, You're So Money, and how she capitalized on its success to build her media career. Then she shares a little about what she'll dive into at #XYPN17 - the challenges of planning for couples when a woman in a partnership is the primary breadwinner. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/109

Helen Ngo is here today to share her experience working her way into the financial planning world and starting her own successful business by the age of twenty-six. There's a whole lot to take away and apply to your own business plan, whether you want to start a business or you're already in the process. Starting out in a male-dominated field definitely didn't make Helen shy away from business; it actually gave given her the motivation to quit an aging practice and start her own unique, passion driven firm. She talks about everything from getting her CFP certification to the beginnings of her business. She started out by getting clients through knocking on doors, and now she is starting to face scaling issues that demand she re-work her pricing and marketing. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/108

Nannette Kamien took a long and winding road to becoming an entrepreneur in the world of financial services, but her previous career continues to improve her offering as a financial services professional. To build a modern practice, she's drawn on her background in information technology. This technical expertise has allowed her to serve clients and move fast toward establishing her own firm. In this interview, we discuss breaking into a new market, executing a career change, and capitalizing on a diverse background and network for success. Nannette also had to move her firm from Chicago to San Diego to accommodate her husband's career, and she shares what that experience was like. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/107

When Bill Nelson realized that working on Capitol Hill wasn't for him, he joined Price Waterhouse Cooper and became an expert on compliance. But when he and his future wife decided to move so she could attend medical school, Bill considered opening his own firm. In this interview, Bill shares why he took the safe route when he first moved rather than start his own RIA. He talks about what he learned working for a big broker dealer, why working in the industry was so helpful before starting his own business, and what his business looks like today as he finally niches down. You can find show notes and more information by clicking here: www.xyplanningnetwork.com/106

Oftentimes we're so excited about financial planning around here that we can gloss over some of the tougher, less glamorous aspects of running your own business. After a 12-year career in tech herself, today's guest, XYPN member Meg Bartelt decided to get a Masters in financial planning and switch careers entirely. Meg shares candidly about the obstacles that she's confronted in her first year of business. The unique challenges of having an entirely virtual firm, learning to practice self care, and hiring a business coach are just a few of the topics Meg generously covers in this interview! You can find show notes and more information by clicking here: www.xyplanningnetwork.com/105

We're super excited to be hosting today's guest, Mitch Anthony, because he's also going to be our keynote speaker at #XYPN17 this year! Mitch is a communication guru and longtime advisor of financial advisors - and he's got a great system for getting to the root of clients' needs. In this interview, Mitch shares how he stumbled into the financial planning industry and how he applies storytelling principles to working with advisors and clients alike. He also details the importance of understanding a client's history, transitions, principles, and goals (though he prefers the term possibilities). You can find show notes and more information by clicking here: www.xyplanningnetwork.com/104

It's no secret the first year of running your own RIA is no walk in the park. But this week's guest and XYPN member Shawn Tydlaska has had some unique and impressive success in his first year as an independent advisor. Shawn talks about how his long and winding path through the financial services industry led him to practicing true financial planning. He walks through the obstacles he's overcome and many false starts he experienced before establishing his firm. You can find show notes and more information by clicking here: www.xyplanningnetwork.com/103