XYPN Radio is dedicated to building a community of fee-only financial planners who are ready to make the dream of serving next-generation clients into a profitable and successful reality. With an honest and forward-thinking perspective, host Alan Moore, various guests, and occasional co-host Michael Kitces deliver insights and knowledge to advisors in the financial planning industry who want to build better businesses that serve Gen X and Gen Y clients. Through the expertise of leaders in the field and case studies from financial planners like you, the discovery of how you can serve your own generation to help them achieve their financial goals starts today.
Featured Co-Host: Michael Kitces | Co-Founder of the XY Planning Network, and author of the popular blog www.Kitces.com joins in on occasion to bring his unique perspective to the show
Ep #306: How DEI Makes Firms Thrive: An Interview with Cindu Thomas-George
In today’s episode, we’re honored to speak with Cindu Thomas-George, a professor and the owner of Shakthi Diversity and Equity Training. Last year, Cindu shared some of her lifetime of experience and expertise with the XYPN Team. Later this year, you’ll have a chance to learn from her, too—Cindu will be delivering a three-hour interactive workshop as an add-on Pre-Conference event at #XYPNLIVE 2021, so don’t miss out.
Today, Cindu joins us to discuss what diversity, equity, and inclusion each mean and lays out a persuasive argument for DEI initiatives as a growth strategy within a business. She discusses the concepts of power and social capital and presents the moral case for considering these concepts within your work. She gives answers to tough questions like, “Is this conversation a political one?” and “What can advisors do to move the needle forward in the DEI space?” Today’s conversation highlights the power of the work being done by financial advisors who are bringing financial planning and literacy to communities who have not had access to it before. If you weren’t previously convinced that financial planning is an inherently impactful, helping profession, Cindu sets the record straight.
If you’re interested in learning about how DEI makes businesses thrive, then this interview is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/306
Ep #305: Embracing an Expanding Compliance Program: A Discussion with Shelby Brown and Terria Heng
Today, we have the privilege of talking to Terria Heng and Shelby Brown, two of XYPN’s Compliance Coaches who together have nearly two decades of experience as examiners and compliance consultants.
Terria and Shelby discuss with us their recommended approach to compliance, the time commitment required to ensure you’re creating a culture of compliance within your firm, and several other compliance considerations that keep RIA owners up at night. They give great advice like how to trust your instincts, and they deliver valuable insight into how regulators and examiners approach their jobs. They discuss the required compliance changes involved when you add a teammate, approach SEC registration, or make a considerable mistake. Terria and Shelby’s perspective on compliance is refreshing, and you can’t help but absorb some of their energy and passion for all things compliance.
If you’re interested in how your compliance responsibilities will evolve as your scale your firm, this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/305
Ep #304: Supporting Clients Through Grief and Transition: A Conversation with Julie Quick and Chris Dale
Today we have the honor of speaking with Chris Dale and Julie Quick, two XYPN members and RIA owners who make a tremendous impact in their clients’ lives as they focus on the complex niche of people in transition, specifically those dealing with grief.
To begin our conversation, Julie and Chris define grief and explain the complexities and emotions of the grieving process. They discuss how essential it is to humanize the experience of grief and to understand the longevity and vulnerability associated with processing grief—a perspective that is necessary when working with someone in transition. You'll hear Chris and Julie discuss the unique aspects of their firm and service model that allow them to be much more than just financial planners to their clients—they often introduce their families to their clients and share their own stories of grief. Given the time commitment of this type of advising relationship, questions arise about scalability. You’ll hear their tips for continuing to build a practice while maintaining a meaningful relationship with each one of their clients founded on support, friendship, and empathy.
If you’re interested in supporting and guiding clients through transition, this episode is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/304
Ep #303: Adding a Partner Into an Established Firm: A Conversation With Ryan Mohr and Eric Thomas
Today, we have an exciting conversation with Ryan Mohr and Eric Thomas, owners of Clarity Capital Management, a fee-only firm out of Portland, OR, where we talk about all things partnering—how to do it, when to do it, and all of the potential benefits. Three and a half years ago, Ryan started his firm as the sole owner and built it to serve over 45 client households. As the pressures of growth continued, the desire to bring on a partner was at the forefront of his mind.
On today’s show, Eric and Ryan talk about their decision to partner together, how they established equity buy-in for Eric, and the process they followed to finalize their agreements. Eric discusses why the timing was right for him to transition into the fee-only space now vs. when Ryan originally opened the firm. Ryan shares what it was like to offer equity into the company that he built from the ground up. This discussion provides a great example of how to partner with intentionality after a strong foundation has been built.
If you’re interested in what it’s like to bring a partner into an established firm, this show is for you.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/303
Ep #302: The Real Value of an Intern: A Conversation with Pearl Michalson
Today we’re excited to welcome Pearl Michalson, XYPN’s Internship Coordinator, to the show. Pearl has built XYPN’s internship program from the ground up and has a wealth of expertise when it comes to all things interns and internships. From identifying top talent to training managers on how to best utilize interns, a lot goes into making an internship a successful and rewarding experience for all.
Pearl shares her unique theory around internship programs with us and the wide variety of work that interns can accomplish, which will be of interest to many of our listeners. Her experience in organizational leadership allows her to speak to the importance of communication within organizations and why new and diverse talent elevates a company. As opposed to thinking of interns as another person to manage, she invites our listeners to seek out what an intern can teach them, how they can improve the organization, and see the world through a different lens. Pearl has advice regarding what to look for in interns, how to train them, and how to consider what they can do within a company if given the opportunity.If you’re interested in hiring an intern, then you’re not going to want to miss this episode.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/302
Ep #301: Hiring A Spouse - A Conversation with Ashlee deSteiger and David Rae
We’re incredibly excited to have Ashlee deSteiger and David Rae—two XYPN advisors and RIA owners—on the show today to talk about everything that comes along with working having your spouse as a coworker. Ashlee’s husband joined her firm, Gunder, after seeing the momentum and freedom she enjoyed while running the firm, while David hired his husband at his firm strategically to support not just his firm, but his lifestyle as well.
In this episode, you’ll hear Ashlee and David discuss the good, bad, and the ugly of working with your spouse—from how they take walks (alone) to tag-teaming duties. They also talk about the decision to hire a spouse generally and what it’s like to market your firm with your spouse and serve clients as a team. Ashlee shares what it was like growing her firm during COVID and with three small kids at home. David reminds us of how good things can be when we define our ideal life and work towards it each day while embracing the inevitable challenges.
Whether you’re starting your firm with your partner or just starting your firm, you won’t want to miss this episode.
You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/301
The podcast is great overall. Just very crappy audio.
Great Information for all Advisors!
This podcast is not only for millennials, or those working with millennials - great information for all RIA's wanting to grow their business! Alan Moore does a great job hosting the show. His questions and insights are spot on! Highly recommend it!
This show lacks focus
Many of the guests drone on and on about their work and life history. Some guests are trying to market to financial planners and they tend to do a long winded sales pitch about their product or service. I wish Alan would ask questions to unearth why and how the advisor succeeded or failed at various aspects of their business. If a coach is a guest then the coach needs to share some of their strategies instead of just saying how great they are.