Xypn Radio

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

You've undoubtedly heard about FMeX if you're a regular listener and lover of finding innovative ways to connect with your clients. We're lucky enough to have Ric McConkey, Managing Partner at FMeX, with us today to talk about how his service helps advisors provide clients with valuable, relevant content and improve your marketing. Ric shares how the rapid rise of technology has forced advisors to adapt their practices, and how targeted content marketing is perfect for landing new clients, maintaining relationships with current ones, and building your overall brand. You can find show notes and more information by clicking here: www.xyplanningnetwork.com/102

It's been a while since we dug into our mailbag, so we're back with another Alan & Kitces Unhinged episode. On this edition: the differences between prospecting and marketing, varying service models, how to educate yourself on financial planning, and E&O insurance. We start off by digging into prospecting and marketing and explaining why we generally focus more on the latter here at XYPN. We also discuss the best CRMs for firms of different sizes and how your service model should change based on who you're serving and what they need to hear from you. Then we run through a list of our best recommendations for advisors hoping to get educated on true financial planning, and wrap up with a speedy overview of E&O insurance. You can find show notes and more information by clicking here: www.xyplanningnetwork.com/101

It's hard to believe we've already made it to episode 100, but here we are! We're so thrilled you've been with us this long, whether you've listened to every single episode or you only recently discovered the podcast. We're doing something a bit different for this episode to celebrate! From tips on entrepreneurship and persistence to those on having fun and being positive, tune in to our one-hundredth episode for some excellent insights from standout guests. There are many ways to define and find success - and these guests all have their own. Thank you again for being a part of the XYPN community, and join us for the next 100! You can find show notes and more information by clicking here: www.xyplanningnetwork.com/100

Many of you listeners will be familiar with (and undoubtedly excited to hear from) our very own Director of Getting Shit Done, Maddy Roche. She's shifted from being our first hire and a jack-of-all-trades member of XYPN, to a manager, leader, and member engagement expert within the company. In this interview, Maddy shares how she's grown along with XYPN and some of the key things she's learned along the way. She talks about the challenges of learning to be a leader and a manager, and the critical role mentorship has played in her journey. She caps off the episode by sharing her Personal Leadership Philosophy, which will undoubtedly get you thinking about your own.  You can find show notes and more information by clicking here: www.xyplanningnetwork.com/99

Arlene Moss re-entered the workforce after raising children, and became a coach for the Alliance of Comprehensive Planners. After realizing there were some shortcomings to the one-off coaching model, she decided to go it alone and begin her own coaching business.   In this episode, Arlene and I talk about how coaching can take your advisory to the next level. Arlene shares her highly personalized style of coaching and how she found her own business coach. We also talk about why planning one, five, and ten years out is essential to designing the life and business that you want.  You can find show notes and more information by clicking here: www.xyplanningnetwork.com/98

Just a few years ago, Dan Andrews was working as an investment manager for a broker dealer and running a side blog about personal and professional development. After attending the 2015 FPA Conference in Boston, Dan realized that there was a path in the financial services industry that was more aligned with his interests, expertise and values. In this interview, Dan and I talk about his journey to becoming an independent financial planner at his firm Well Rounded Success. He shares his experience as an investment manager and the blog that helped him realize being a financial planner was the right move for him. Dan also opens up about his very intentional practice of self-reflection, and how you can integrate it into your work, too. You can find show notes and more information by clicking here: www.xyplanningnetwork.com/97

Seth Johnson of Redi2 Technologies was working for an enterprise software company where his team focused on building an excellent billing software for big broker dealers. The burst of the dot-com bubble and strain on the company gave he and his co-founder-to-be a unique opportunity. They pitched an all-new company, exclusively dedicated to billing software, to their CEO - and got the green light.  In this interview, Seth talks about the growth of Redi2 and its softwares, including the independent-RIA crafted BillFin. He shares how Redi2 grew into a major player in the software space by applying the all-important entrepreneurial principle of solving problems for your customer. We talk about what it's really like bringing a product to market, and why bringing advisors in on the Billfin design process was such a critical part of its success. You can find show notes and more information by clicking here: www.xyplanningnetwork.com/96

It's always fun to catch up with longtime members of XYPN because we've witnessed eachothers' struggles and triumphs alike. Today's guest, Jason Mirabella, has been with us from nearly the beginning. Jason started his first RIA just before the 2008 financial downturn, and had to return to other financial jobs before embarking on his next entrepreneurial venture. Jason talks about his new firm Henfruit and his emphasis on helping clients practice wealth-building behaviors. We walk through the process of prepping and launching his second RIA, what he learned from his first attempt, and why he always keeps scale in mind when he makes business decisions.  You can find show notes and more information by clicking here: www.xyplanningnetwork.com/95

Usually when we talk to new advisors on the show, they're a couple of years into the process and have figured out the pacing of their practice. But today's guest, Ryan Frailich, is still right at the beginning of establishing his own firm, and has generously agreed to share the ups and downs of his daily experience. Ryan talks about why he decided to get into financial planning, why he started his business while still completing CFP training, and how the launch of Deliberate Finances has been so far. He perfectly articulates the impostor syndrome feeling that many of us deal with, and shares his struggles with finding a balance between crafting a niche and getting his business of the ground. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/94

Being an independent advisor is often the second, third, or even fourth stop in many advisors' careers. Sean Kernan, independent RIA owner and host of the How to Go Independent podcast, joins us today to talk about what the transition from employee advisor to independent business owner looks and feels like. Sean talks about his time as a broker dealer for Edward Jones at the beginning of his career and how he slowly built a more independent business model over time. We also dive into some of the nitty gritty details of broker dealers and debate the best way of dealing with trails and moving your book of business as you become more independent.   You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/93