The Advice-Only Podcast

Advice-Only Network
  • 5.0 (11)
  • Investing

Hosted by Sarah Sprague Gerber and the Advice-Only Network, this show takes you behind the scenes with Advice-Only financial advisors who are transforming how people think about money and financial planning. Each episode features candid interviews with Advice-Only Network advisors who share their unique approaches to building client-centered practices, navigating industry challenges, and delivering unbiased financial guidance. You'll hear authentic stories about their entrepreneurial journeys, innovative business models, and the lessons they've learned while putting their clients' interests first. Whether you're a financial advisor looking to build or evolve your practice, or someone seeking genuine insights into personal finance from professionals who aren't trying to sell you products, this podcast is for you. New episodes are recorded often so subscribe now and join the conversation that's changing financial advice, one episode at a time.

  1. May 30

    Episode 16 - Strategic Hiring for Growing Advice-Only Practices with McKenzie Kleinhenz

    Today we welcome McKenzie Kleinhenz, a hiring specialist at Simply Paraplanner who brings a unique perspective to the talent challenges facing Advice-Only firms. McKenzie's own career journey as a financial planner gives her deep insight into both sides of the hiring equation. Key Topics Covered: The Remote Revolution - How COVID accelerated demand for flexible, remote positions and why this model particularly benefits advice-only firms that value efficiency and intentional growthFirst Hire Strategy - Why Advice-Only firms tend to be more thoughtful about capacity and planning-focused roles, and how to identify whether your bottleneck is planning work versus administrative tasksHiring Intentionally vs. Reactively - The critical difference between hiring when you're overwhelmed ("I need them to start tomorrow") versus planning ahead and finding the right cultural and skill fitJob Description Excellence - Specific tactics for creating compelling job postings that reflect your personality and firm culture while clearly articulating both current responsibilities and long-term growth opportunitiesThe Personality Factor - Strategies for assessing cultural fit in remote hiring, including involving trusted mentors in interviews and asking candidates to describe their professional personality in three wordsPart-Time to Full-Time Growth - How flexible arrangements can start small (5-10 hours/week) and scale with both firm growth and individual capacity, creating win-win scenarios This episode provides essential insights for any Advice-Only advisor contemplating their first hire or looking to scale their practice thoughtfully. "There's not one right way to build a financial planning firm or career. The most successful firms are the ones that build something that aligns with how they want to work with the clients they want to serve."

    36 min

  2. May 15

    Episode 15 - Systematic One-Time Planning with Jon Luskin

    Today we're joined by Jon Luskin, a San Diego-based financial planner who has built his entire practice around one simple philosophy: give clients everything they need to know in one comprehensive plan, then let them implement it themselves. Jon serves on the board of the John C. Bogle Center for Financial Literacy and co-hosts the Bogleheads on Investing podcast, bringing his passion for low-cost index fund investing to everything he does. Jon's journey to Advice-Only planning began in traditional high-fee AUM shops before taking an unconventional detour—a sabbatical with his wife that involved converting a cargo van and traveling to America's best barbecue spots. When Rick Ferri, his investing hero, reached out and suggested he start his own Advice-Only practice, Jon couldn't say no. Nearly five years later, he's completed almost 500 one-time financial plans using a systematic approach that's become a model for other advisors. Key Topics Covered: The One-Time Model - How Jon's one-time comprehensive planning works, from 15-minute screener calls to 50-page deliverable write-ups that clients implement independentlyTemplate-Driven Excellence - The evolution of Jon's 200-page planning template, refined through hundreds of client engagements and now available to other advisors looking to systematize their processesThe Bogleheads Connection - His role in the Bogleheads community, co-hosting their investing podcast, and how that platform has shaped his marketingBusiness Model Trade-offs: The realities of always needing new clients with a one-time model versus the freedom from ongoing handholding and follow-up accountability Jon emphasizes that complexity doesn't guarantee better results, whether you're a DIY investor or an advisor. His systematic approach allows him to serve clients efficiently while maintaining the detailed, comprehensive planning that empowers people to take control of their financial lives. He's also working on a consumer book based on his template and building more community around his planning methodology. This episode offers valuable insights for advisors considering one-time planning models and anyone interested in how systematic processes can create both efficiency and excellent client outcomes. "Complexity rarely guarantees better results, especially for do-it-yourselfers because they're going to have a much harder time managing it themselves. Keep it simple, and that's going to increase your odds of success."

    39 min

  3. Apr 30

    Episode 14 - Equity Compensation and International Gotchas with Anthony Lombard

    Today we welcome Anthony Lombard, founder of Noteworthy Financial based in Northern Virginia. Anthony brings 20+ years of experience across financial services and technology, having worked at Morgan Stanley, BBVA, and DocuSign before launching his own Advice-Only practice. His unique background also includes living internationally and experiencing firsthand the equity compensation tax surprises he now helps clients navigate. Key Topics Covered: RSU Tax Surprises - How Restricted Stock Units create ordinary income when vesting, even without receiving cash, and why your W2 can be much higher than expected when your company goes public or has a liquidity eventInternational Tax Landmines - Why moving abroad as a US citizen creates complex filing requirements, including the dreaded PFIC (Passive Foreign Investment Company) rules that can turn simple foreign investing into a paperwork nightmareThe Roth IRA Reality Check - Why "tax-free is a local term" and your Roth IRA may not provide tax-free withdrawals when living in countries like France, Germany, or AustraliaPlanning and Prevention - Practical strategies for organizing equity compensation schedules, working with qualified international tax professionals, and avoiding common pitfalls Anthony emphasizes the power of knowledge and preparation when dealing with these complex scenarios. His experience living internationally and working in tech companies during high-growth periods gives him unique insight into challenges that many advisors rarely encounter but can have massive financial impacts on clients. This episode is essential listening for any advisor with clients in tech companies, anyone considering international moves, or professionals dealing with equity compensation packages. Make sure to stick around for Anthony's sage words of advice at the end: "I think it is wonderful to always be curious. Be curious about how the world works. Be curious about how people make decisions and the psychology around human interaction."

    45 min

  4. Apr 15

    Episode 13 - From MIT Engineer to Advice-Only Advocate - Sarah Sprague Gerber's Story

    In this special role-reversal episode, usual host Sarah Sprague Gerber becomes the guest as Eric Simonson takes over the interviewing duties. Sarah is the founder of Momentum Financial Planning and Chief Community Officer at Advice-Only Network, bringing a unique perspective as both a successful advice-only practitioner and community builder. Sarah's journey began as a chemical engineering student at MIT who discovered personal finance out of necessity when facing a 50-page benefits packet as a new graduate. What started as personal research evolved into taking CFP classes at UC Berkeley Extension, where she discovered that financial planning could be a career. Key Topics Covered: The Accidental Discovery - How a MIT engineering graduate stumbled into financial planning through personal necessity and UC Berkeley extension classes, realizing this could solve problems for more than just herselfService Model Evolution - Sarah's journey from trying different pricing and service models annually to landing on her current combination of ongoing planning relationships and "Just Talk to Me" 90-minute sessionsThe Ongoing Advantage - Why ongoing relationships proved more "sticky" than expected and how her modular approach covers everything from estate planning to stock compensation in digestible piecesCouples Specialization - How her own 2019 marriage inspired her Marriage & Money program and upcoming book, recognizing that merging financial lives creates unique challenges and opportunitiesCommunity Building Impact - Her role with Advice-Only Network and hosting this podcast, helping solo practitioners realize "you are not alone" in building successful advice-only practices Sarah emphasizes that advice-only planning absolutely works as a business model, encouraging aspiring planners to have faith in their value and keep experimenting with models until they find what fits. Her engineering background brings analytical thinking to the relationship-focused world of financial planning, creating a unique blend of technical competence and personal connection. This episode offers valuable insights for both aspiring Advice-Only planners and established advisors looking to refine their service models or explore new niches. "You are not alone and it can work -- there are other advisors successfully serving clients this way, running successful practices and having fun while doing it."

    39 min

  5. Apr 1

    Episode 12 - Give, Give, Give: How Cody Garrett Built Multiple Revenue Streams through Radical Generosity

    Today we welcome Cody Garrett, founder of Measure Twice Financial, Measure Twice Planners, and Measure Twice Money, plus co-author of the new book "Tax Planning to and Through Early Retirement." Cody's philosophy that "the more you give away, the more you'll receive in return" has shaped not just his marketing but his entire approach to business. His vision for Advice-Only planning becoming mainstream drives his continued educational efforts and generous sharing of resources. Key Topics Covered: The Blue Ocean Discovery - How one phone call revealed that advice-only was a massive unmet need, leading Cody to leave his traditional AUM firm and launch his practice in 2021Marketing Through Generosity - Why Cody's approach of "give, give, give" without expecting anything in return proved more effective than traditional marketing, and how he built his reputation in Facebook groups like ChooseFiThe Business Model Evolution - From serving 42 clients at $4,200 each to working just 10-12 clients annually at premium rates, plus how he structured decreasing fees for returning clientsBuilding Multiple Revenue Streams - How Measure Twice Planners (educating 1,500+ financial advisors) and Measure Twice Money (consumer education) grew from his core planning practiceThe Future Vision - Why Cody believes clients will soon create their own AI-enhanced financial plans first, then hire Advice-Only planners to validate and check for blind spots Whether you're an advisor exploring different business models, a student considering financial planning, or someone interested in the future of financial advice, Cody's journey offers both inspiration and practical insights for building something meaningful. "The more you give away, the more ironically you'll receive in return, even professionally, financially and otherwise. How can I give more to others without expecting something in return?" Resources and Links Mentioned:Measure Twice Financial - Cody's advice-only planning firmMeasure Twice Planners - Education and training for financial advisorsMeasure Twice Money - Financial planning education for consumersTax Planning to and Through Early Retirement - Cody's new book (co-authored)Advice Only Network - Directory and community for advice-only plannersChooseFi - Financial independence community and podcastCFP Board - Certification and continuing educationKitces.com - Michael Kitces' financial planning contentAmplified Planning - Hannah Moore's externship programCody's YouTube marketing strategy video (link in show notes)"The Go-Giver" by Bob Burg - Philosophy of generous giving"The E-Myth Revisited" by Michael Gerber - Essential reading for financial planning entrepreneurs"Atomic Habits" by James Clear - Building better habits and systemsChooseFi Podcast - Brad and Jonathan's financial independence showRadical Personal Finance - Joshua Sheets' comprehensive financial education

    53 min

  6. Mar 25

    Episode 11 - Academia and Financial Planning Education with Annabelle Dobson

    Today we welcome Annabelle Dobson, Assistant Director of the Financial Professional Development Program at the University of Florida's Warrington College of Business. This rapidly growing program has reached over 1,000 students and is graduating about 80 students annually from their CFP® approved wealth management minor - making it a significant pipeline of new financial planning talent in the country. Annabelle brings a unique perspective on the intersection of academia and industry, working daily to connect students with career opportunities while helping firms find the next generation of financial planners. Key Topics Covered: The Student Pipeline - How UF introduces freshmen to the vast finance ecosystem, from investment banking to wealth management, and helps them discover their passion for helping people through financial planningIndustry Connection - Why the program brings industry professionals to campus weekly and how advisors can get involved through speaking, mentoring, or hiring opportunitiesWhat Students Really Want - Beyond compensation, students prioritize career trajectory and mentorship - they want to know they'll be "attached at the hip" learning from experienced professionals rather than stuck at a desk crunching Excel numbersThe Advice-Only Opportunity - How solo practitioners and smaller RIAs can offer unparalleled learning experiences that big institutions simply cannot match This episode is essential listening for any advisor considering hiring new talent and students exploring financial planning careers. Annabelle's insights reveal how advice-only firms can tap into this incredible pipeline of motivated, educated future advisors while helping students discover that financial planning offers meaningful career paths beyond traditional banking.

    32 min

  7. Feb 28

    Episode 10 - From Social Worker to Financial Planner with Krystal Fortner

    Today we welcome Krystal Fortner, a unique voice in financial planning who combines her Licensed Clinical Social Worker (LCSW) background with comprehensive financial planning. After 15 years in child welfare and 7-8 years of thinking about starting her own firm, Krystal started her Advice-Only firm in 2023 and hasn't looked back since. Krystal brings a refreshing perspective, calling herself the "driver's ed teacher" who keeps the bus on the road while clients do the driving. Her therapy background creates immediate trust with clients who "breathe a sigh of relief" knowing they won't be judged for past financial mistakes. Key Topics Covered: The Therapy Connection - Krystal's clinical social work skills help her use behavioral modification techniques to create sustainable habits and help clients see possibilities they never thought achievableClient Empowerment - She's passionate about educating clients through implementation, including helping women place their first trades to seeing that "light bulb moment" when they realize their own capabilitiesChapter-Based Financial Planner - Krystal shares her "chapter-based" planning process that spreads comprehensive planning across 4-6 focused meetingsAdvice-Only Champion - After working under various models, she explains why Advice-Only feels like the most honest and transparent approach Krystal's story inspires both advisors hesitating to make their own leap and consumers who may have felt intimidated by traditional financial planning. Her warm, behavioral-focused approach offers a fresh perspective on what financial planning can be. Be sure to listen for this great quote from Krystal: "Anything in life is truly possible, whether it be financially related or non-financially related. Just having the drive and determination and finding someone who can see your vision even when you can't will get you there."

    43 min

  8. Feb 15

    Episode 9 - Building an Hourly-Only Practice with Zach Lundak

    In today's episode, Sarah talks with Zach Lundak, founder of Barrett Financial Planning, who launched his hourly-only practice just over a year ago Zach's enthusiasm for his work shines through as he discusses several topics: The Hourly-Only Model - Why Zach chose this approach for clients who want financial planning expertise but prefer to maintain control of their portfolios, and how it serves people who aren't willing to turn over discretionary management to an advisor. Client Focus Areas - The two primary concerns driving his clients - getting a professional sanity check on their retirement readiness and navigating complex Roth conversion strategies. YouTube as Marketing - Zach's deep dive into building a YouTube channel from scratch, including the learning curve, the importance of consistency, and how even a modest following can generate meaningful business results. He shares insights from his weekly mastermind group with other advisor-YouTubers. Entrepreneurial Journey - The mental and financial challenges of leaving a steady paycheck to start a firm while raising two young children, including how his daughter "Ladybug" inspired his firm's logo. We hope you enjoy this episode full of practical wisdom for both advisors considering the hourly model and consumers approaching retirement. Zach sums up his enthusiasm with this great quote: "I hope everyone gets to work on a project they're fired up about. It's been so much fun."

    35 min
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Hosted by Sarah Sprague Gerber and the Advice-Only Network, this show takes you behind the scenes with Advice-Only financial advisors who are transforming how people think about money and financial planning. Each episode features candid interviews with Advice-Only Network advisors who share their unique approaches to building client-centered practices, navigating industry challenges, and delivering unbiased financial guidance. You'll hear authentic stories about their entrepreneurial journeys, innovative business models, and the lessons they've learned while putting their clients' interests first. Whether you're a financial advisor looking to build or evolve your practice, or someone seeking genuine insights into personal finance from professionals who aren't trying to sell you products, this podcast is for you. New episodes are recorded often so subscribe now and join the conversation that's changing financial advice, one episode at a time.

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