Behind The Advisor

What does it really take to bet on yourself, and grow faster than you ever imagined? On this episode of Behind the Advisor (previously known as XYPN Radio), I'm sitting down with Kyle Moore, founder of the fee-only financial planning firm Quarry Hill Advisors. Kyle has led his firm through some of the most explosive growth we've ever heard about on the podcast, and his path into the industry is just as compelling as the results. Kyle shares how he transitioned from traveling the country as a professional golfer to entering financial planning at a firm whose partners split just nine months after he joined. We discuss navigating the rocky start with a young child at home, why he once accepted a $25,000 salary, and what ultimately led him to leave what he calls "the best associate planner position in the country" to build his own firm. It's an honest look at risk, resilience, and what it really takes to bet on yourself. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/163

Today's guest is a thought leader in the financial industry who has been published in Black Enterprise, CNBC, Financial Advisor, ThinkAdvisor, MarketWatch, US News & World Report, Women's Health, and many more. Rianka Dorsainvil is the founder of Your Greatest Contribution, as well as the creator and host of the 2050 Trailblazers podcast, which directly addresses the lack of diversity in the financial planning profession. A young minority female, Rianka offers a unique voice in the industry, and she is using it to promote inclusion of all kinds. Listen in to hear her inspiring story of following through with what she was meant to do—even when she sometimes didn't want to embrace it—how she's working to make the industry more inclusive, and what she says all entrepreneurs need to remember in order to keep going even when the going gets rough. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/162

Brad Sherman is the founder of Sherman Wealth Management, an independent fee-only financial planning and wealth management firm with $38 million in AUM. While Brad started his career on the mortgage side of the business and went through several job changes, he slowly made his way over to financial planning and ultimately made the decision to launch his own practice—while his wife was 36 weeks pregnant. In this episode, Brad shares how he built up his firm with a young baby at home, as well as what made him decide to break away from his broker-dealer and form his own RIA. Listen in to hear what he did to grow his client base as a new business owner, what he's learned over the last five years of running his own firm, and what he envisions for the future. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/161

Many listeners have requested that we bring back some of the interviews and see where their businesses are after a year. Today we get the chance to catch up with Ryan Frailich who has now been in business for about 18 months. He opens up about the changes, challenges and successes that he and his business has gone through over the past year since we last got a chance to chat. You can find show notes and more information by clicking here:https://www.xyplanningnetwork.com/160

When it comes to interesting stories, Chris Jackson certainly has one of those. He also has some great advice on how to use theatre skills to serve your clients better and have confidence in your meetings. Chris shares the crazy story about how he got into financial planning with almost no experience and why he stuck with it. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/159

Dealing with clients who are grieving or going through a great loss requires a great deal of courage, compassion and wisdom. Chris Dale is an advisor and planner who has gone through significant loss and channeled that into a practice of his own that caters specifically to people going through a hard time. He has some extremely valuable advice and information for us that will shed some light on how to truly be what our clients need during their hard times. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/158

Many people are in search of a career that supports their lifestyle and feeds their passions. Debbie Gallant has done just that and is here on the show to share her journey with entrepreneurship and the various careers that brought her to the sweet spot where she is today. She offers some valuable advice on how to get started in financial planning, who to reach out to, where she would have done things differently and much more. You can find show notes and more information by clicking here:https://www.xyplanningnetwork.com/157

There's no right way to structure a partnership and this can make things confusing when building a business relationship between partners. Jirayr Kembikian and Ryan Cole have successfully navigated a 50/50 partnership and they're here to share how they did it. This episode will be all about how they are building their growing business and how they use their different skills to benefit each other. You can find show notes and more information by clicking here:https://www.xyplanningnetwork.com/156

You might know Stephanie Sammons as the founder of Wired Advisors, but as of last year, she's also the founder of Sammons Wealth Management, a fee-only firm handling $7.5 million in assets. Now focused on high net worth clients in the LGBTQ community, Stephanie has overcome more than her fair share of struggles in the industry. In this episode, she opens up about the difficulties she faced being a gay woman in the advisory world, and ultimately how she has prevailed and continues to grow her practice to support her ideal life. Listen in to hear about her inspiring journey, as well as the major lessons she learned along the way. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/155

Today's guest is XYPN member and founder of Mellen Money Management, Scott Snider. After starting his career on the sales side, briefly working at a bank, and finding his way to a wealth management firm, Scott ultimately decided to start his own firm—and did so while also dealing with moving across the country, his wife starting a new job, and having his first child. Though this path certainly isn't for the faint of heart, it has worked out well for Scott and taught him some very important lessons. In this episode, he shares his unique journey, as well as key things he learned along the way and advice that anyone hoping to start a firm should take to heart. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/154

Have you ever wondered about or considered teaming up with another advisor? If so, this episode is for you. Both Gabe Anderson and Scott Bell started their own practices and ended up merging their financial planning and investment businesses to create a business that provides a quality experience for all clients. They discuss the process of merging and where they want to go with their partnership. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/153

Today I'm excited to have siblings and XYPN members Courtney and Morgan Randstrom on the show! Co-founders of Trailhead Planners, the two have an interesting niche in working with clients who have a passion for their environmental footprint and want to build carbon-neutral portfolios. With complimenting skill sets—Morgan is more of the big-picture idea person and Courtney is the realist who focuses on the operations of the firm—the pair really works well together to provide real financial planning for their clients. Offering an awesome blend of comprehensive financial advice with investment expertise, they are incredibly dynamic and doing some really interesting things in their business. Listen in to hear all about it. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/152

Kyle Mast joins us on the show to talk about his career journey that started in a family business through a succession plan and ended up with him owning his own RIA. He discusses the details of his business and the strategies he has used to build it successfully. Kyle talks about how he has hit a place he's happy with and ready to pull back and spend more time with family. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/151

Most people know there are risks and sacrifices involved with entrepreneurship. Raquel Hinman shares her journey through different finance jobs and how she ended up starting her own successful business and having to deal with the downside to business ownership. She gets real with us and talks about what went wrong, what went right and how she would or wouldn't have done things differently along the way. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/150

My guest today is a great example of why having a niche is so powerful. XYPN member Ryan Inman is the founder of Physician Wealth Services, a firm that specializes in working with (you guessed it) physicians. In fact, one hundred percent of his clients are doctors. Completely focused on his niche, Ryan provides tons of awesome content for physicians through his blog, podcast, different Facebook groups, and more—all of which continue to drive him leads. Two years into starting his firm, he's over halfway to his way to his goal of reaching 70 clients. In this episode, Ryan shares his experience building his own firm, what he's done to make it such a success, and more. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/149

Julia Lorenz-Olsen and Philip Olsen join us on the show to share some golden nuggets about their unique careers and the unexpected benefits their creative background has brought on. They discuss how they got started and how they settled on the business model they're currently in. Philip and Julia both lay out the difficulties involved in their careers and how they navigated the various hurdles presented to them. You can find show notes and more information by clicking here:http://www.xyplanningnetwork.com/148

Today I'm excited to have XYPN member Xavier Maldonado on the show. The founder of Global Vantage Wealth Management in San Diego, Xavier specializes in working with dual-citizen clients with assets in multiple countries, with his primary focus on clients that are citizens of the United States and Mexico. At one point, he came to the surprising realization that he was the only Spanish-speaking CFP in San Diego, as well as the only advisor that truly understood cultural norms for his target clients. This allowed him to establish trust with his clients, and bring them along with him as he moved among several different RIAs before ultimately starting his own firm. Listen in to hear how Xavier has managed to build a successful firm, his plans for growing it in the future, and more. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/147

Today XYPN members Taylor and Kailie join the podcast to share the non-traditional paths into financial planning that led to them buying their father's practice. Sisters—and now business partners—Taylor and Kailie are going through a ton of change and evolution at the firm, and we've caught up with them to hear all about how they're figuring out what they want the business to be as it matures. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/146

From books to planning practices, the financial planning world can tend to be a bit boring and stale. Catie Hogan realized this early on and channeled her humor and fun-loving nature into her book as well as her practice. She has successfully found a way to get people interested in financial planning by using storytelling and finding creative ways to catch peoples' attention. You can find show notes and more information by clicking here:https://www.xyplanningnetwork.com/145

Life gets messy and whether it's a new tax law or a looming divorce settlement, the value of a financial planner who has expertise in these areas is truly valuable. Diana Bacon joins us on the show today to discuss her career from working with multiple different firms to eventually moving to the fee-only model and starting her own firm. She discusses the struggles and issues she faced and shares some valuable insight into how she did it and how she would have done it differently. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/144

XYPN co-founder Michael Kitces is back on the show for another episode dedicated to answering listener questions! Today he and Alan Moore share how to communicate the value of financial planning, why it isn't always a good idea for advisors to take on every new client they can, and more. Listen in to hear advice for new advisors and seasoned advisors alike. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/143

As a tri-citizen of the UK, Australia and the US, Ashley Murphy has found a niche in the expat market. When it comes to multi citizenships, financial planning can get much more complicated. Ashley shares the dangers, difficulties and benefits that are involved with working with expat clients. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/142

The role of a supportive partner or spouse is extremely valuable to an entrepreneur and the success of their business and family. Mary Beth and Brian Storjohann join us on the show to share their inspiring journey through building a business, career changes, children and more. The pair have some really great tips on communication, optimism, work ethic and the various things that have helped them along the way. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/141

Finding a fulfilling and effective niche can take quite a bit of time and stress. If you take the time to truly figure out what fits your skills and passions, massive success is almost guaranteed. David Rae came into the financial advisor field with a theatre background and a passion for the LGBT community. He shares his unique niche and how his passions have helped his business take off in an incredible way. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/140

XYPN's very own Jen Mastrud joins us on todays episode to share the exciting career path that's built her expertise and brought her to the point of thriving as XYPN's Director of Content Marketing. Jen's history working as a public speaker for a small university, a PR Director for a Poker company and now as the person in charge of XYPN's marketing has stretched and developed her skillset as an effective marketer. In this episode, Jen shares the insights she's gained to help financial advisors take their marketing from non-existent or mediocre to a highly effective but efficient operation. You'll here her experience as Director of Marketing for XYPN, the specific marketing strategies that have been highly effective, the areas where advisors are best suited to start if they haven't done much marketing and how they can go about it. Don't miss this incredibly helpful and instructive episode. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/139

Tim Baker's career is a testament to the true power of having a niche focus for your business. After his time working in a hybrid firm, he decided to launch his own firm with a focus on working with pharmacists. He founded Script Financial in April of 2016, and his concentration on this niche has helped him add almost 50 new clients to his business in the last 18 months. In this episode, Tim shares his unique path to success that included several different career changes after leaving the military before finding financial planning. He also goes into why he is a proponent of charging based on income and net worth, clever tactics he uses to seek out potential clients, and more. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/138

From fee only planning to tax planning, Scott Haley has found an interesting and successful business model for his firm. He joins us on the show to talk about how he got started in financial planning and what it was like getting a rough start initially and then finally finding the right fit in the industry. Scott shares his career ups and downs along with great advice on how to learn from others in the industry. You can find show notes and more information by clicking here:http://www.xyplanningnetwork.com/137

Alan Moore and Michael Kitces join forces on this episode to address a topic that they have been getting a lot of questions about recently. They address the challenges that have been present when working with TAMPs and why they decided to launch XY Investment Solutions with the specific needs of XYPN members in mind. You can find show notes and more information by clicking here:http://www.xyplanningnetwork.com/136

The process of transitioning from working within a firm to transitioning into a more independent hybrid RIA model and finally to owning his own RIA has given Taylor Schulte some great insight and experience. He joins us on the show to talk about these transitions, the ups and downs and how he ended up where he is today. From the details of working under an umbrella RIA to the details of owning his own RIA, Taylor has a lot of insight to share. You can find show notes and more information by clicking here:http://www.xyplanningnetwork.com/134

Today we have two guests on the show to talk about how they made their rarely practiced firm-within-a-firm service model a success. Andy Brincefield and James Matthews, CEO of Consolidated Planning and Managing Director of Consolidated Planning's wholly owned subsidiary Blueprint, respectively, teamed up about a year ago to launch Blueprint as a new service model dedicated to NextGen clients. Given that Blueprint has its own advisors, marketing, recruiting, website, and office space, they have truly allowed the company to operate independently to reshape the planning process to the ideal fit for their target clients. In this episode, we talk about how Andy and James approached branding this service model for success from the very beginning, how they got their broker-dealer on board with the idea, and so much more. If you work for a larger firm or are looking to build an XYPN style service model but aren't interested in being an entrepreneur and owning your own firm, then this episode is for you. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/133

Building a business that really fits your life and passions is a dream for many and Kay Dee Cole made it a reality. Kay Dee joins the show today to share her experience with discovering her passion for financial advising and building her own practice. She has some great advice and inspiration for those who want to start their own business even in the midst of a chaotic life. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/132

The financial planning field has been historically dominated by white males and focused on the same. This discussion is to bring a better understanding of the difficulties that the ethnic minorities and females have when trying to break into and become established in the field. This important and exciting discussion is being co-hosted by Kathleen Boyd and Bill Simonet who both have unique and valuable experiences and views that will help us see things from different perspectives. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/131

What does it take to start and grow a successful financial planning firm? Today's guest is here to share how he managed to do just that. Patrick Brewer is the founder of SurePath Wealth Management, a fee-only financial planning firm based in Austin, Texas that grew from $0 to over $250,000 in annual revenue in just 13 months. In this episode, Patrick discusses what led to him launching his own firm, the lessons he learned along the way, and more. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/130

Deciding on your fee structure can be a challenge depending on the type of firm you want to have and the clients you serve. PJ Wallin joins us on this episode and fills us in on his reasoning for using this method and gives some great insight on how to make it work and why it works so well for his clients. He also shares the ups and downs of his career and the process of building a successful and unique financial planning business. You can find show notes and more information by clicking here:https://www.xyplanningnetwork.com/129

Today XYPN founding member Ben Wacek is here! Now also the founder of Wacek Financial Planning, Ben has been building his own business since 2014. He is slowly turning it into the ideal firm for him and his family, as he is able to work from home and prioritize time with his wife and three young children, but what makes Ben's business stand out the most is that he has incorporated his faith into it. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/128

XYPN co-founder Michael Kitces is back on the show! Today he's here to answer some of the most common questions we get regarding what it means to be fee-only and why being a fiduciary is so important to us. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/127

It's easy to get stuck doing things the same way as everyone else but Bill Simonet shows us the value of doing things a bit differently. He joins us on this episode to share some wisdom and lessons he has learned on his path to becoming a successful practice owner. In just 15 months, Bill's business has grown to 3 employees and advises 58 clients. It's obvious that he's doing something (or many things) right. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/126

Michael Kitces joins us on the show to talk about XYPN's Inaugural Benchmarking Survey and we talk through some of the highlights from the survey. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/125

Elizabeth Jetton is on the show to share the incredible new programs and educational opportunities being developed to help financial planners start strong. She also shares the importance of finding your 'Why' and gives tips on when and how to do it. Her experience in almost every area of the financial planning industry has given her some great insight that we can all learn from. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/124

What would you be able to do if you continued to persevere in order to achieve your dreams? Learn how Alex Hopkin took advantage of opportunities in order to grow her career. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/123

Becoming a financial planner wasn't at the top of Jason Howell's list but through working in finance and politics he made his way to a career he is passionate about. He joins us on the show today to share his career and the growing process he went through. From running for political office to getting his CFP, the road has been challenging but rewarding. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/122

Learn how Glen specializes in helping clients with student loan analysis and how it is an easy low hanging fruit for advisors who are just starting out. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/121

Brian Thompson, founder of Brian Thompson Financial, is committed to helping the LGBTQ community with their financial planning. He started out as a tax attorney, but his interest in personal finance grew after he watched his mom get sold inappropriate annuities and saw more opportunity to help people in this area. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/120

In this episode, Amy Irvine shares how she managed to acquire a total of 100 clients in under two years without leveraging her strong client relationships for more financial growth. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/119

Justin Castelli certainly knows how to think outside the box. The owner of RL Wealth Management and a member of the XYPN Advisory Board, he developed a unique model that allows him to serve two different niches in the financial planning space. This so-called "barbell model" allows him to work with two types of clients: older clients that have wealth and younger clients that don't. In today's episode, Justin shares his experience starting his own firm and explains why asset minimums can result in turning away good clients. He has found a way to serve those who have accumulated substantial wealth, as well as those who are just starting to grow their net worth, and he shares his system with us today. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/118

Melissa Ellis joins us this episode to share her story and some of the lessons she learned along the way to where she is now. Despite putting off her dream due to being told financial planning wasn't appropriate for women and that the timing wasn't right, she finally went for it and never looked back. She shares the steps she took along the way and all the jobs and experiences that fed her knowledge and put her on the path to owning her own practice. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/117

Building a new business is always a lot of work. This didn't deter Andrew Damcevski and Devon Klumb from starting their practice and quickly adjusting and putting it in the perfect position to succeed. By become part of a bigger firm, their business has been able to see a large amount of growth and they are able to reach the type of customers they are passionate about working with. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/116

Anna Segunina knows the difference between a business and a practice - which she's proved with her fantastic work helping to develop Main Street Planning into what it is today. On this episode, Anna shares the story of her career, from how she got started in the business to how she became the owner of a highly successful planning practice. Anna shares many valuable takeaways from her experiences developing an hourly-based business with a focus on planning rather than asset management. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/115

Are you actually using data to make decisions in your firm — or just going with your gut? In this episode of Behind The Advisor, we're joined again by Shawn Tydlaska to talk about why tracking your metrics matters more than you think, especially for smaller, growing advisory firms. If you want clearer insights, better decisions, and the ability to look back and actually understand what moved the needle in your firm, this conversation is a must-listen. You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/114

Every member of XYPN has a unique take on what we teach, and it's always fun to hear how each advisor is building a unique and valuable practice. Tony Madsen is building an RIA in rural Minnesota, after taking a leap out of the world of broker-dealers so he could have more fun with planning. In this interview, Tony shares his first-year revenue and expenses and talks openly about where he spent more money than he should. One of the most interesting things Tony explains is the cashflow management strategy he uses with clients, which allows them to donate to charity, save for the future, and pay down their debt, all while enjoying their lives. You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/113