Behind The Advisor

If you're interested in how finding your niche can change everything and how well the equity compensation niche has worked for XYPN member Christine Amill Centeno, CFP®, MS, founder of Simplicity Wealth Management, this episode is for you! Christine started her career in financial services at Ameriprise in 2007 and worked in a variety of broker's side roles until she ultimately decided to launch her own firm in 2019. Having just celebrated her firm's fourth birthday, she has grown quickly with over 40 client households and 400,000 of recurring revenue. How has she had so much success? You probably guessed it, she has a really well defined niche. Christine specializes in equity compensation, and almost all of her growth from the last two years have been from client referrals. She also shared about her experience hitting the ceiling, realizing that she was working way too many hours and had let the business really take over her life. She hit the reset button, defined her financial mission statement, and has been really intentional about building the business to support her life moving forward. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/363

If you're interested in learning how employment contract restrictions can seriously disrupt your plans to take clients with you should you decide to break away from your broker, as well working through growth and fee structuring decisions, this episode is for you! XYPN member John Underhill, CFP®, founder of Acorn and Oak Wealth Management, based in Raleigh, North Carolina shares how his journey from ski bum to managing parts of a ski resort, and then several Starbucks helped bolster his business acumen as well as humility—in the best ways. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/362

In this fun conversation with XYPN member Brian O'Neill, CFP®, founder of Winged Wealth Management and Financial Planning, we hear how niching not only what you know, but who you know can radically grow your business—even in the first year! Brian spent the first 20 years of his career as an Air Force pilot, during which time he developed a passion for personal finance. Brian launched his firm in January 2021 and came out of the starting gates hot, working with 30 clients in his first year, 23 of which were retainer clients. He's grown quickly and shared that he'll gross over $200,000 in 2023, just his third year in business. He shared his marketing secret sauces that helped him grow quickly as well as build upon the equity of trust his fellow fighter pilots feel towards each other. Finally, we talked about his view of the future of the business and how that's changed from a plan to stay solo to a desire to grow, not only to serve more clients in need of his services but also his family—in the form of a succession plan for his business. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/361

If you are interested in what it takes to transition from a long-term wirehouse position to solo RIA ownership, what it means to truly answer a calling, and how to sustainably serve others without being self-sacrificing, this episode is for you! Kaysian Gordon, founder of Kaysi Gordon Financial Planning, spent 14 years at UBS focusing on financial planning for ultra-high net worth clients. Seven years ago, she started a weekly devotional blog, which later helped her build a niche working with women of faith in transition. In late 2021, Kaysian launched her own firm with XY Planning Network's help, growing rapidly with 60 households in under a year. We also discussed how being a single mom has shaped her business and life design. Her clear niche and personal journey make her story truly inspiring. Enjoy the conversation! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/360

If you're interested in learning about the advantages of growing your firm with like-minded advisors, hiring a virtual assistant, and having a supportive spouse, this episode is for you! Mike Troxell, founder of Modern Financial Planning, started his career in tech as an accountant but eventually transitioned into financial planning. Though he loved his job at an RIA, he decided to launch his own firm when the timing unexpectedly aligned, despite just having his first child and expecting a second. Mike's firm focuses on clients with RSUs or stock options, often in the tech industry. We talked about how he helps clients with those unique financial decisions and his decision to bring on another advisor and hire a virtual assistant. It's a great interview full of insights and fun stories! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/359

If you've ever found yourself questioning what "having it all" looks like for you, how to pull focus on those visions and find balance as you start and run your business, this episode is for you. In this reflective and empowering conversation, XYPN member Betty Wang, CFP®, founder of BW Financial Planning, shares a very real look into her journey from a career in financial services on the buy side, to taking time off to care for her children with medical issues to returning to the industry in private equity and ultimately deciding to do her own thing as a firm owner. While she doesn't describe herself as an entrepreneur—because she doesn't fit the image that she had of what it means to be an entrepreneur—she has built a very successful firm. She launched in 2018, but struggled to put herself out into the world, so she didn't see much traction early on. That all changed in 2020 when she made the decision to lean into the uncomfortable parts of the business, primarily selling financial planning and the relationship with her as the product of her business—and it has grown rapidly since. She shares how she has been able to be intentional with her time—focusing on working 25 hours a week so she can spend time with her kids (something she hadn't envisioned being a priority in the beginning of her career). She also shares tools she uses to help with what she calls life planning—a way for her to focus on living from a fulcrum of integrity, according to her values. There are many aspects of Betty's story that you may find familiar, but mostly I think you'll appreciate her ability to turn the unexpected into an intentional and meaningful life. I hope you enjoy this conversation as much as I did! - Alan You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/358

If you're interested in learning how to grow your initial firm investment five-fold in 3 ½ years in a dual-entrepreneurial household, this episode's for you! Join in the conversation with XYPN member Jake Northrup, CFP®, CFA, CSLP®, founder of Experience Your Wealth and hear about how he started his firm journey in late 2019, with no clients, at the ripe age of 27. As if that wasn't challenging enough, his wife started her own wedding planning business at the same time. Jake always knew he wanted to be an entrepreneur, and after working in an RIA that served mostly older clients, he wanted to build a firm that focused on younger families that did a lot of traveling and wanted to experience more of life during their younger years versus just saving for retirement and hoping to have fun in their 60s. Jake spent a lot of his upfront money building a website focused on telling the story of who he wanted to work with and how he was different from other advisors. It has clearly worked as he made just over $80,000 in his first 12 months and he has now crossed the $500,000 of recurring revenue mark, just three and a half years into the business. We had a wide ranging conversation about how he has found success finding clients, his service model, what makes his business unique, how he and his wife have balanced being entrepreneurs at the same time, and how his views on building the business have changed from building a solo practice to hiring another lead advisor and other team members. Check out his interesting journey! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/357

Andie married her high school sweetheart, who was an Air Force pilot and started moving all over the world every two years. She found work as a math teacher at community colleges, and over time, that ended up shifting into the realm of financial planning. She took part in a joint program between FINRA and the DOD that helped her get her AFC designation. That led her to getting her CFP® and, as her husband was retiring from the military and they were deciding where they wanted to end up, she started her financial planning firm. She talked briefly about a couple of big planning opportunities that service members can take advantage of this year. And it is clear how important having in-depth knowledge of what all service members have access to is when working with them. She's also part of a group that she helped found called the Military Financial Advisors Association, which is a group of XYPN members that serve military members and their families. They host regular meetups and provide education to members and have a pretty awesome lead gen program that's set up for members to take advantage of. Another great example of the power of being better together! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/356

Frank Austin, CFA, ChFC®, founder of Sustainable Financial Planning, achieved his FIRE goal of retiring at 50 and starting his own financial planning firm. His goal in starting the firm wasn't to make a lot of money as he was already set up for retirement, but instead to impact the lives of as many clients as possible. We talked about some of the things he thought he would focus on early in the business, such as ESG investing and how those plans evolved over time as he found the clients he enjoyed working with and learned the challenges of running his own solo practice. He's made a recent pivot to moving into more advice packages and away from ongoing planning, and he shared why he made that move and the clients he hopes to help with that new program. I hope you enjoy hearing about Frank's journey as much as I did! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/355

In this informative conversation with XYPN member Joanne Burke, CFP®, CPA/PFS, founder of Birch Street Financial Advisors, we learn why Joanne left a big four firm to join a partner who'd split off to go independent and help start their accounting practice. After a few years and the birth of her second child, she decided to launch her own tax practice to give herself the flexibility to spend more time with her family than public accounting would have provided. Fast forward after her youngest left for college, she decided to pursue her passion for financial planning and made the leap in 2020 to start her own RIA. We talked about her original plans to convert tax clients over to ongoing financial planning clients and the challenges she faced as she tried to move from being seen as their tax preparer to being seen as their financial advisor. Her deep tax knowledge has proven to be a real asset as she's shifted tax prep conversations from reactive solutions to proactive planning. We talked about the upcoming decision she'll get to make as she decides if she wants to stay solo or hire and begin to grow the firm. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/354

Whether you live in a single or dual-entrepreneurial household, have children you're balancing in that equation, or are just looking for effective tips to convert prospects into clients, this episode is for you! In this fun and informative conversation with XYPN member Sarah Ponder, CFP®, MBA, founder of Real Estate Wealth Planning, Sarah joked that she's 37 and on her fifth and hopefully final career. We talked about her fee structure, successful marketing programs, her new course for realtors, and also how her family has leveraged an Au Pair to be able to support them with childcare so they can build their respective businesses. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/353

We're excited to welcome back XYPN member Kay Dee Cole, CFP®, founder of Clarity Wealth Development, on the show today. Kay Dee was on the show back in 2017 and we wanted to bring her back on now, to give us an update on her firm and how things have progressed and changed. I have to say it was hard to find anything that was similar to the business she was running five years ago, aside from her being there and her niche. Kay Dee shared the various transitions that have happened from splitting with a business partner, finding her integrator, which is something we talked a lot about, building up the team, selling a portion of the company to her employees, and ultimately setting herself on a path to spend more time on passion projects. If you're interested in being really intentional about building the business that makes sense for you and where you're at in life, this episode is for you! You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/352

At XYPN we talk a lot about community. This holiday season feels like a great time to celebrate what a powerful gift being independent, but never alone can be. So, we invited three members of an XYPN Mastermind Group, Dillon Cobb, CPA, CFP®, Andrew Gray, CFP®, and Allen Mueller, CFA, MBA, to share how their group has become a gift that "keeps giving" toward their personal and professional successes. We'll hear about how the group has become a place of shared strengths and divided weaknesses – kind of like a family. A family whose support betters themselves, their firms, and their clients. It's impact acceleration at its absolute best. Their varied backgrounds and unique paths to launching their own firms enrich and inform their conversations as do their commonalities – like facing the challenges of raising young kids and building solo practices. We had a wide-ranging discussion about the value of a mastermind group – from helping navigate family dynamics playing out in their firms to imposter syndrome. You can feel the difference their support of one another has made in their lives and practices. If you are already in an XYPN Mastermind Group, you'll recognize the positive impact and feelings our guests share. And if you aren't – you may find yourself seeking the powerful gift of community by the time you're done listening to this episode. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/351

We're excited to welcome XYPN member, Daniel Yerger, MBA, CFP®, ChFC, AIF, CDFA, founder of MY Wealth Planners, a fee-only firm based in Colorado on the show today. Today's podcast follows Daniel's career path from joining the Army and specializing in PSYOPS to becoming an IT manager for IBM before deciding to pursue financial planning. He effectively started his own firm at a broker-dealer because he didn't have a salary to build his own client base from scratch. Looking back, if he found a salary position in financial planning, he would have taken it and maybe would have never started his own firm. In this show we talk about the importance of meeting like-minded financial planners and his decision to launch his own RIA after attending an FPA NexGen conference. We cover a variety of other topics, including fee structure and using net worth in fee calculations as well as leveraging interns in his practice - one of whom ultimately became his associate advisor. He discusses the importance of firms hiring and paying interns in order to expose more young people to the work we do as financial planners. We closed our discussion on his PhD research on financial advisory fees, advisor compensation, and ultimately how the fight on Twitter regarding fees is really missing the point. If you're interested in the importance of finding a passion that fits and exposing next generations to financial planning, this show is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/350

We're excited to welcome XYPN member Jessica Goedtel, founder of Pavilion Financial Planning, on the show today. Jessica started her career thinking she wanted to be an archeologist. After a few jobs and a few different industries, her love of personal finance brought her to her first job in financial planning. She worked for a couple of different firms, including an online startup RIA, and learned as much as she could about doing financial planning and the types of clients she wanted to work with before ultimately launching her own firm in September of 2021. Jessica has two niches listed on her website's home page: tech workers and online sex workers. We talked about the decision to have two niches, which she admits can be difficult at times, but also wouldn't go back and change it if she could. We dove into the service model and fee structure of both niche markets and how she's ultimately bringing value to her clients, including how she has incorporated tax preparation and tax planning into her business just over a year in, and she's doing amazingly well. This is an interview you don't want to miss. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/349

Today we welcome XYPN member Andy Panko, CFP®, RICP®, EA, founder of Tenon Financial, to XYPN Radio. Andy always knew he wanted to be a financial advisor—but the harsh reality of financial planning opportunities (or the lack of them) for a fresh college graduate was discouraging. So, Andy spent the first 19 years of his career working in insurance, banking, and brokerage firms. It was in 2016 that Andy discovered XYPN Radio and realized that his dream of helping others with their finances could be a reality. If you're interested in working with clients to and through retirement and building a great firm in the process, this is the episode for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/348

Co-Founders Alan Moore and Michael Kitces review the highlights of the sixth-annual Member Benchmarking Study in this episode of XYPN Radio. Each year, the study gathers information from XYPN member participants to get an accurate picture of how advisors are doing in their firms. If you're interested in learning what really works for fee-for-service advisors, then this is the episode for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/347

In today's episode, we're excited to have Nancy Hetrick, founder of Smarter Divorce Solutions, who specializes in collaborative divorce. After her own divorce in 2007, Nancy realized the lack of resources for divorcing individuals and became a Certified Divorce Financial Analyst to offer a kinder, court-free process. Nancy shares her journey from founding her divorce planning practice to selling the wealth management side of her business to focus exclusively on divorce planning, which is now thriving. If you're interested in working with divorcing clients or exploring the power of a niche, this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/346

Today we talk to Maggie Beach, CFP®, CPA/PFS, and XYPN Member who is the founder of NexJenn Financial Services—a fee-only firm servicing the real estate niche—and NexJenn CPA—an accounting firm that specializes in individual and trust taxation. Today's podcast is full of information as Maggie shares her expertise in real estate, and how her early career path gave her the ability to provide advice on a personal level. In this show, we talk about everything in the real estate niche, from prospecting to outsourcing. For Maggie, real estate isn't just a niche, it's a family business. Maggie uses her personal experience in real estate investing to provide a holistic approach to advice to her clients. She also talks candidly about what it's like to offload aspects of her business. Bottom line? Trusting your instincts is one of the most important skills advisors should hone while building their firm. If you're interested in real estate as a niche, and finding better ways to serve your existing clients, this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/345

We're excited to welcome XYPN member Cody Garrett, CFP®, founder of Measure Twice Financial—an advice-only firm based in Houston, TX. After 10 years in the music industry, Cody jumped into a career in financial planning. As Cody learned about financial planning, he shared blogs to teach others at the same time. His generosity changed the trajectory of his career. Cody lasted two and a half years at an RIA before the floodgates opened. Dozens of clients started reaching out wanting planning advice—without investment management. After two months, he generated more revenue than an entire year. So, he made the decision to go solo. In this episode, Alan and Cody discuss the importance of empowering clients to get involved with their finances. Measure Twice Financial leads by example—simplifying financial topics to help DIY investors to align their money with their values. Cody built his firm from the ground up, finding his ideal client before choosing a service model and fee structure. His goal is to change the perception of a financial planner's role by increasing the transparency of planning. If you're interested in advice-only planning or are looking to align your professional goals and values, this episode is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/344

Today, we talk to XYPN member Ethan Miller, CFP®, founder of Planning for Progress—a fee-only firm based in Washington D.C. Ethan started his career in labor and union organizing which gave him the passion for working with individuals one-on-one to empower them to make the world a better place. Financial planning seemed to be the perfect way to help clients lead socially responsible lives while building financial stability. He launched Planning for Progress in 2016 part-time to build slowly (and remain an active part of movements for social and economic justice). After 4 years, his network and niche aligned. Ethan relaunched in 2022 as a full-time advisor and now serves 70 clients in a calendar year. This episode is fun—and brutally honest. Ethan shares his experience of transitioning between service models to fit his ideal client by embracing both comprehensive and project-based service models and getting his existing clients on board. If you're thinking about starting a firm part-time or looking for ways to incorporate your values into your business, this episode is full of advice for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/343

We're excited to welcome XYPN member, Rachael Burns, CFP®, CDFA®, founder of True Worth Financial Planning, on the show today. Rachael's start in financial services and life experience have allowed her to build a practice based on empathy and education. The day after learning she was pregnant with twins, her family faced the news that no one should have to hear: her husband had a brain tumor. Shortly after the birth of their twins, the COVID pandemic hit. The next year was challenging—to say the least. In this interview, Rachael talks candidly about finding #XYPNRadio during the pandemic and the role that it played in taking the leap to start her own firm. She soon realized that opening her own fee-only firm was a real possibility and found the courage to launch. Rachel's leap of faith paid off—after two years, she now has found her niche helping women manage money stress to deal with what really matters. Rachael's story is incredible, as is her commitment to advising with empathy. You don't want to miss this episode. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/342

We're excited to welcome Colton Etherton CFP®, XYPN Member, and owner of Out of the Office Planning to the show today. On this episode, Colton talks us through his professional background, which includes starting his career in the banking side of financial services, transitioning to Merrill Edge, Schwab, then an independent RIA, all before launching his fee-only firm with a tattoo artist niche. Colton shares the impact of his unexpected unemployment in the launch of his firm in January of 2021 and how his banking background gave him the confidence to build his own firm from scratch. After 9 months of business, Colton scrapped his niche nine months in to be the go-to resource for tattoo artists on his schedule. His firm is now growing incredibly fast, bringing in 10 clients in 6 months, on a schedule that prioritizes his personal and business goals. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/341

We're excited to welcome XYPN member Sharon Weaver, CFP®, the founder of Mission Financial Planning, on the show today. Sharon has been a CFP® for over 25 years but had never actually done a financial plan until she launched her firm 11 years ago. Some early dentist clients from a center of influence referral eventually led her to go all in on working with dentists. She's been growing her network of dentistry practice consultants, bankers, and insurance folks who work with dentists and is also networking with investment managers who refer clients to her because she is advice-only, meaning she doesn't manage investments. She's been growing her firm and has started hiring for support. Sharon talked about the decision to hire and what she's looking for in a second planner. If you're interested in learning more about what it's like to work with dentists and hire on a second lead planner, this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/340

We're excited to welcome XYPN member Chad Holmes, founder of Formula Wealth, on the show today. Chad always knew he would be an entrepreneur and discovered financial planning in high school when his grandparents invited him to sit in on a meeting with their financial advisor. He started his career in public accounting as an auditor, thinking it would help prepare him to be an advisor because accounting and finance were basically the same things, right? Not really, and Chad is glad to be on a different path now. Before ending up at an RIA actually doing financial planning, an unexpected pregnancy, and his wife getting a fellowship across the country led him to decide to launch his own firm. This was in 2020, in the middle of COVID, in a new state. Chad shared how they made it work as a family for him to be able to pursue his dream of entrepreneurship while also supporting his wife's career. Now he works part-time and has taken on the household responsibilities, and is building a great firm focused on helping clients that our industry has historically underserved. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/339

We're excited to welcome XYPN member Ryan Greiser, founder of the Pennsylvania-based financial planning firm Opulus, to the show. Ryan started his professional career as an athletic trainer before a client recruited him into a financial planning firm, where "financial planning" was actually just cold calling and selling insurance. Ryan lasted three years before moving to a broker-dealer, and while he was able to do more planning there, he was still expected to sell insurance—and a lot of it at that. Ryan ultimately launched his own firm in 2019, and has been on a rapid growth trajectory ever since. Most recently, Ryan has been building out a cryptocurrency offering to support his clients, which has become a big driver of new business for his firm. In this episode, we talk extensively about Ryan's cryptocurrency offering, going into the details of how he designed it and his vision for the future. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/338

We're excited to welcome XYPN member Patrick Clark to the show today. Patrick is the founder of Neshaminy Creek Advisors, a fee-only firm specializing in volunteer firefighting companies and their firefighters in Bucks County, PA. Patrick has been in the industry for almost 30 years, starting out on the investment side of the business before getting introduced to financial planning through a friend and eventual business partner. He launched his own firm four years ago with just one volunteer firefighting company, but has quickly grown. Patrick shared how his niche is starting to compound with referrals from existing clients, and referrals from an accounting firm that also exclusively specializes in the same niche and the firefighters themselves. His story is a great example of why having a niche truly is so powerful. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/337

We're excited to welcome XYPN member Reese Harper to the show today. Reese is the founder of Dentist Advisors, a virtual firm based in Salt Lake City, UT., focused on serving (you guessed it) dentists. Reese started his firm in 2007 after working at Northwestern Mutual, and he had one dentist client as part of a book of business that he left with. After experiencing 2008 and his first year of running his firm, he decided to go all-in and focus exclusively on dentists—and this is at a time when having a niche wasn't the cool thing to do. As the firm grew, he saw the need to provide more ongoing monitoring of clients' financial situations and started building some highly-functional spreadsheets to provide value to his clients. Then he shared a few of those spreadsheets with other advisors to get their feedback and input and has now built out a tech company named Elements to provide all advisors with the ability to monitor and provide proactive recommendations to their clients. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/336

We're excited to welcome XYPN member Danielle Harrison, MBA, CFP®, CFT-I™, the founder of Harrison Financial Planning, a fee-only firm based in Columbia, Missouri, on the show today. Danielle's journey is particularly relevant to all of us navigating today's economic landscape. She launched her fee-only firm in January 2021—right in the middle of the pandemic—and has not only survived but thrived through the market volatility we've experienced since then. What makes Danielle's story so compelling is how she transformed her early fascination with finance into a modern practice that rejects the old product-pushing model that many of our listeners are trying to escape from. Her experience transitioning from traditional banking to independent planning offers valuable insights for anyone looking to make a similar leap in today's digital-first environment. Stay tuned as Danielle shares how she's adapted her business to the economic climate, leveraged technology to serve clients remotely, and built a practice that genuinely supports both her clients' financial well-being and her own family's lifestyle goals. Whether you're considering starting your own firm or looking to make your existing practice more resilient, today's conversation offers practical takeaways you can implement immediately. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/335

Today's episode is a shift from our typical one. Alan Moore, CEO and Co-Founder of XYPN, joins Maddy for a conversation about some changes that are happening—good ones—with the leadership structure at XYPN, their roles, and this podcast. As you'll hear, over the past ten months since Alan was on last, XYPN has continued to grow and formalize, which means Alan and Maddy's roles are shifting. Alan discusses his move back as the host of #XYPNRadio, and Maddy's shift away from being the host. For over 100 episodes, Maddy has interviewed XYPN members, allies, and teammates about a range of topics—listeners have been through COVID and more together with Maddy, and she shares how thankful she is for the support of each and every listener. She has found so much joy in being able to bring stories of success to each of you, and inspire some of you to go out on your own. If you want to hear more about the future of #XYPNRadio and how you can shape it by filling out a listener survey telling us what you love about the show and want to hear more about, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/334

Today, we talk to Cynthia Meyer, a CFP®, CFA, and XYPN Member, who is the owner and founder of Real Life Planning—a fee-for-service firm dedicated to supporting real estate investors. Today's podcast is full of information as Cynthia shares her expertise with real estate, and how she's been able to create a service model that has allowed her to scale to 50 clients in her first three years. We talk about everything from the real estate bubble to how she is able to leverage her campaign management experience. Cynthia exudes enthusiasm for her work, her clients, and her niche—and it's contagious. Cynthia is also a power user of the XYPN Network and has effectively launched the highly-productive Real Estate Investment study group within the XYPN membership community, and she speaks about how giving back has given her so much value in return. If you're interested in real estate as an asset class, and how to serve clients who are too, then this show is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/333

Today's interview is with Leo Marte, CFP®, the owner of Abundant Advisors, a virtual fee-only firm that specializes in serving Christian professionals. Leo joined XYPN and launched his firm in 2020 after spending a dozen years at Vanguard, managing a large team, and working with thousands of clients. We talk about what it was like for Leo to leave a meaningful institution and career to chase a different dream of serving clients that better aligned with his personal goals. He discusses what it means to be a great advisor to his high-net-worth clients, how transparency is what draws folks in, and he talks about the intentionality he has around his growth. Leo charges a flat fee and AUM, which provides him access points to work with folks he may not be able to otherwise. We discuss a second business he's developing, and he reminds us that there's never a right time to do things. If you're ready to transition out of your institutional career, then this show is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/332

Today, we talk with two advisors who launched their firms in the past six months. This is a different kind of podcast that gives folks an inside perspective on what it's really like in the first year. Instead of talking to people about how their first year was in hindsight, Elaine King and Scott Alan Turner, fee-only RIA owners from Florida and Texas respectively, share what it's like to figure things out right now—as they're doing it. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/331

We're excited to interview XYPN's very own Director of Advisor Education, Kori Lennon. Kori pulls the strings for all of the educational programming for XYPN members—from our coaching offerings to our webinars. They are the ears and eyes of our community, always learning about what advisors need to stay up to speed. Today, she talks about her team's work to support advisors on their entrepreneurial journey and shares excellent wisdom about what it takes to prepare for and start your own firm successfully. Kori tells us about the emotional and mental struggles she senses in some of our new members and what advisors can do to combat some of the inevitable challenges of being an entrepreneur. She gives us three things every future entrepreneur should focus on and shares her perspective on burnout and how to avoid it. Kori and her team are gearing up for the biggest year yet within the Advisor Education department, and you'll hear all about how you can expect to be supported by their team when you launch your firm. If you want to know how to prepare for your first year in business holistically, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/330

Today on Behind the Advisor (previously known as XYPN Radio), we're talking with advisors at a stage we don't usually feature: the first six months of launching their firms. Chao Zhang and Stefanie Pickard are right in the thick of it, figuring out what works and what doesn't, as their new firms get off the ground. This episode is equal parts fun and brutally honest. Even with a decade of experience behind them, both Chao and Stefanie get real about imposter syndrome, the mistakes they wish they could undo, and the lessons they're learning on the fly. We dive into how many hours they're actually putting in, what's slowing them down, and how their perspectives and goals differ, as well as how much they have in common when it comes to starting a firm. If you've ever wondered what those first six months are really like, this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/329

Today I talk with Cameo Roberson, the owner and founder of Atlas Park Consulting—a consulting firm for RIAs. Cameo isn't an XYPN member, nor is she an RIA owner, but she's deeply familiar with the space and the experiences of advisors who are running their firms. Today, we dive into Cameo's expertise; from her comprehensive background in the industry to her current work with advisors. I'm able to ask her questions about what advisors tend to overlook when approaching their launch, what slows them down, what advisors should be focusing on in the 12 months before they launch, and six months after they launch. Cameo has some incredible advice about imposter syndrome, how to navigate the industry as a professional, and gives sage advice about how advisors can stay motivated as they navigate the world of entrepreneurship. Cameo shares her experience looking for and seeking mentors in this industry, and what she's done to ensure there are more people like her in this industry. If you're interested in an expert's perspective on preparing for your launch, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/328

Today's interview is with XYPN member Heather Townsend, owner and founder of Townsend Financial, a virtual fee-only firm based out of Scottsdale, AZ. Heather is in her fourth year of business and is hitting her stride working with over 40 of her most ideal clients: business owners and professionals with stock compensation. Today's episode covers a lot—Heather shares her wisdom from, as she describes it, her messy first few years, and she talks about why it was important for her to raise her fees a number of times as her confidence gained. Heather has multiple designations and an impressive amount of technical understanding of her niche, and she shares how today she is able to deliver massive value to her clients on an ongoing basis by working with a coach and being true to her goals. Heather is also a new mom of twins and talks about what it was like to prepare for and enjoy her well-deserved maternity leave, which meant setting up boundaries. She also talks candidly about what it's like to be a perfectionist and what her confidence curve was like after starting her firm—something more advisors should consider when building their firm. If you're interested in building a firm that aligns with your goals—from the amount of money you want to make to who you want to work with—then this show is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/327

Today we hear from the three founders and owners of AVID Planning—a fee-only firm out of St. Petersburg, FL, that opened its doors in 2016. Right out of the gate, Jack, David, and Kevin experienced how much fun running a business can be when you do it alongside friends. The three of them met when they were all working at Edward Jones, had a stint at an independent broker-dealer, and eventually broke out on their own to do things differently. Today, Jack, David, and Kevin talk about what the math looked like as they decided to become truly independent, what it meant to leave the broker-dealer world, and why they are now more fulfilled working as co-owners. They talk about how they structure their business and equity, break down their accountabilities, and how implementing the Money Quotient process has changed the way they work with their clients long term and in what they believe is the fiduciary way. If you're interested in what it's like to start your dream firm with a friend or colleague, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/326

Today, Jennipher Lommen, founder of Wildflower Financial, a fee-only firm out of Santa Cruz, California, is on the show. Jennipher is a career changer and entered this industry only a few years before she launched Wildflower four years ago. Jennipher homeschooled all three of her children and explained what it was like to begin looking to enter a new industry in her 40s. With age comes maturity and experience, and quickly Jennipher found financial planning to be a perfect fit. Today she talks about her first few years in business: she worked with over 50 clients on a project basis in her first year and now serves a number of them on an ongoing basis. She talks about how the industry is in dire need of more women and how this profession is so accessible to anyone who is interested in being a listener, supporter, and advocate for their clients. She shares her perspective on the CFP® curriculum and how the Registered Life Planning process has been transformative for both herself and her practice. If you're interested in entering this profession later in life, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/325

We're joined today by XYPN member and founder of SJK Financial Planning, Wes Shannon. Wes has been running his Fort Worth, TX firm for six years and, despite feeling admittedly swamped, has reached the point where he feels like he's built his ideal firm. In this episode, Wes discusses the numerous business plans he wrote before starting his own fee-only firm and how to handle transitioning clients. Wes reflects on how hard the first three years were and how, at 64 clients, he's benefiting from his preparation and endurance. Wes gives advice around the nuances associated with serving both individuals and 401(k)s for small businesses and how he established a buy-sell agreement with a like-minded advisor. Additionally, Wes talks about why networking has been so beneficial to him and how he strives to serve his clients as best as he can. If you want to know what it's like to be six years into building a firm that you love, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/324

XYPN has conducted an Annual Benchmarking Study for the past four years. The comprehensive annual survey gathers core performance indicators of member participant firms and ultimately draws data-backed conclusions about the success of different business models, fee structures, and niches. Today, Alan Moore and Michael Kitces, XYPN Co-Founders, discuss the study's fifth annual results. As you'll see, with our maturing network and member firms, the 2021 study shows a much clearer understanding of what's working and not working in fee-only RIAs. This episode is particularly interesting and helpful for those considering starting the long play of the entrepreneurial journey. We encourage you to listen closely and go back to the previous conversations about the past surveys and use them as resources to build your ideal firm. If you're interested in what really works (yes, meaning proven with data) when building your firm, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/323

We're excited to interview Kathleen Boyd, a CFP®, former financial planner, and now, XYPN's Financial Planning & Process Coach. Kathleen is joining us for a second time, as she was on Episode 131 with Alan Moore four years ago talking about Diversity and Inclusion. Today, Kathleen discusses the challenges advisors face when building their processes, how they can get overcome with analysis paralysis as they try to systematize, and she offers sage advice on how to avoid these pitfalls. She gives a lot of credit and love to the advisors who choose to start businesses, encouraging them to think outside the box on who and how they serve. Kathleen is a black, queer woman and has had a diverse and broad career in this industry—she's been on Investment New's 40 under 40 list—and she shares what it's been like to find her place in this industry with the help of mentors, and what it's been like to work at XYPN, a place she says embraces progressive thinking in a real way. If you're interested in how to leverage your financial planning experience in dynamic ways, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/322

We're excited for today's episode with Ashley Foster, a Latino advisor and owner of Nxt:Gen Financial, a fee-only firm out of Houston, TX. Ashley started his career in the captive insurance space, learning how to sell and acquire clients. As many of our guests have experienced, Ashley started to feel drawn to the fee-only space and serving the community he wanted to and had a discussion with his former employer about changing his career trajectory to being a business owner. Three years into it, Ashley is serving over 30 clients, primarily veterinarians. He's making six figures and is loving life more than he could imagine. Ashley has a lot of great advice to share with you today—from how to navigate the exit from a company to leaning into the painful moments of the experience as opportunities for growth. Ashley is candid today and shares with us some of his most fulfilling experiences as an advisor. If you're interested in how to navigate out of the insurance world and into the fee-only space, this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/321

Today, we're excited to interview River Nice, XYPN member and founder of Be Intentional Financial, a fee-only firm focused on serving LGBTQ community members. River, whose pronouns are they/them, started their firm just over two years ago and has effectively served over 100 clients since opening. River serves clients how they want to be served: through education and short-term relationships. River brings up a number of compelling points throughout the interview—questions of whether gender is a necessary consideration in planning, how our technology is set up to serve, or not serve, different communities, and reminding us how important it is to have representation within this industry. Their own personal journey is highlighted in this episode and how interestingly, through raising their own prices, they were able to have an even bigger impact on the communities they wanted to serve. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/320

#XYPNRadio's very own host, Maddy Roche, is interviewed on the podcast today. Maddy is XYPN's Senior Director of Member Success, a role in which she's entirely dedicated to helping XYPN members be successful. As the first employee, Maddy has been part of XYPN since the very beginning, and today, she shares her experience navigating change and the growth that comes along with it. She discusses how she inspires an "embrace change" mentality within her own team and offers advice on fostering a positive company culture and preserving that culture within a rapidly growing company. Maddy shares what it's like to manage a team of managers—which she admits had a steep learning curve. We also spend some time reflecting on the fee-only movement, and the powerful role introspection plays in bettering yourself both personally and professionally. Having connected with thousands of fee-only advisors over the past seven and a half years, Maddy offers a unique perspective on what it really means to be a part of the XYPN movement, what exactly REAL financial planning entails, and the impact XYPN advisors have on the lives of others and on the industry at large. Maddy also shares her own experience working with a financial advisor and how recently engaging advisors who are also life planners has changed her outlook and shaped her trajectory. If you're interested in learning more about the story of #XYPNRadio's host, Maddy Roche, what her seven and half year journey with XYPN has looked like, and how her introspective mindset and approach have helped her continuously better herself both as a team member and as a person, this episode is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/319

We're excited to talk with Danika Waddell today, owner of Xena Financial Planning, a long-time follower of XYPN, and a relatively new entrepreneur. As you'll hear, Danika has experienced rapid growth in her newly-launched firm and now serves over 60 clients just 13 months in. So, what's her secret? As we explore today, you'll hear that it comes down to knowing your strengths and weaknesses and creating a dream team to help you stay sane and serve your clients. Danika discusses how she relies on and leverages her community, centers of influence, and coaches to help her stay on track. She talks about the nuances of pricing in Washington state and how she expects to change her firm in the future. Danika shares the softer side of how she approaches her firm, takes care of herself, embraces the abundance mentality, and is motivated by making financial planning accessible to more people. If you're interested in how to hit the ground running and find success when you launch your firm, then this show is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/318

We're excited to welcome Tom Lo, XYPN Member and founder of Vested Financial Planning, on the show today. As his firm name alludes to, Tom works with Silicon Valley tech professionals and has a particular focus on helping clients through a liquidity event at their company. Tom shares that he, too, went through a liquidity event at a tech startup and found it to be so complicated of an experience that it became one of his motivations to change careers and help others with his expertise. As Tom discusses today, a liquidity event at a tech startup is a great opportunity for sophisticated and technical planning from a third party, like himself, to provide unbiased perspective to those who are emotionally invested in the process. Tom dives into how he serves his clients effectively by outsourcing major components of his business—from asset management to bookkeeping. He discusses the softer side of being a business owner, too, like what it means to have control of your destiny, complete control of your business, and of course, flexibility. If you're interested in working with this niche or gaining any of what was just mentioned, then this show is for you. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/317

Today we're excited to have Jerry Kauffman, a Certified EOS Implementer on the show. EOS is the Entrepreneurial Operating System—a system designed to help entrepreneurs get more of what they want out of their businesses. XYPN integrated the EOS model into our organization just about three years ago, with the help of Jerry, and today we'll discuss the core components of the system and how it can level up your business. Jerry talks through the major components of the EOS model—from setting rocks, to the meeting rhythm, to deciding measurables of your scorecard. He discusses the difference between the visionary role and the integrator role and even gives us some behind-the-scenes takeaways from working with Alan Moore and Michael Kitces, both visionaries. Jerry will be hosting an interactive Pre-Conference workshop for advisors at XYPN LIVE, where he will share the benefits of implementing this system for your company. EOS is a core component of how XYPN runs its business, and today's episode will give you some ideas on how to get more out of your business using EOS principles. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/316

We're excited to welcome Daniel Kopp to the show today. Daniel is the owner and founder of Wise Stewardship Financial Planning—a two-year-old, 100% virtual fee-only firm that serves over 25 widows and military personnel. Today, Daniel talks about what it was like starting his firm while navigating some difficult personal circumstances. While he waited for approval to start his firm, he conducted 100 informational interviews, prepared for his CFP®, and got clear on who he wanted to serve and how. Despite pricing himself a little low out of the gate, today, Daniel has a backlog of clients reaching out and credits a lot of his accelerated growth to the investments he made in GoogleAds early on and targeting his niche in Facebook Groups. Daniel shares the importance of a supportive advisor community as he continues to grow his firm and how he would have never started on this journey if he didn't know what was possible thanks to some of the original stories shared on #XYPNRadio. If you're interested in what it's like to build a niche-focused intentional firm, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/315

There is no one-size-fits-all approach to starting or scaling a practice, and today, we sit down for a conversation with XYPN member Spencer Stephens who has taken his own path starting and scaling his firm. Stephen, like many folks, is interested in building a lifestyle practice vs. an enterprise practice. He founded Rooted Interest, a fee-only firm in Salt Lake City, Utah, in 2017, and today, he discusses why he serves a smaller client base than other comparable firms. He discusses why he continued to stay employed at his father's CPA practice full time while building his firm. Spencer is a dad of five, and it was important for him to get into the giving profession to help his clients in the ways that work best for them while not sacrificing what is best for himself and his family. Spencer talks about his intentionality in building slowly, his annual expenses (hint, it's still under the 10k mark), and what his plans are for ramping his business up. If you're considering starting a practice at a slower rate or on a part-time basis, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/314