XYPN Radio Alan Moore and Michael Kitces

Our guest today moved up the corporate ladder to become CIO at 2 different large RIA’s. Even from the top, there is just no replacing the freedom and flexibility that owning your own business can provide for both you and your clients. Terri Spath, CFA®, CFP®, founder of Zuma Wealth shares some fantastic stories and insights that you won’t want to miss!
Terri spent the majority of her career climbing the corporate ladder as an investment expert. She served as the Deputy CIO, Chief Investment Officer for Mercer, and went on to be the Chief Investment Officer for another large RIA as well.
As the CIO, she had the ability to work with advisors and saw the value they were providing their clients. She decided to get her CFP®, which she said was a wonderful educational program, even though she already had the MBA and CFA® designation. Despite achieving what many of us would consider the pinnacle of success in her career, entrepreneurship was calling to her, and she decided in 2021, just over two years ago, to launch her own RIA.
She has grown quickly, grossing over $300,000 in revenue this year. She shared an amazing launch program that she did, which involved a market research firm, ultimately led her to her target market, and has been wildly successful in helping her grow quickly. I hope you enjoy this conversation as much as I did.
You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/370  

Join us for an insightful episode as we extend a warm welcome to XYPN member Jeff Clark CFP®, founder of Redwood Money. From youth ministry to personal finance, Jeff’s journey wasn’t simple. In his church, Jeff offered to help his peers with their finances, but soon had the attention of a congregation also in need!
Following this path, he found himself in FinTech, able to learn from experts in the field. This stepping stone gave him the knowledge and confidence to strike out on his own. In 2021, he did just that.
Cataloging his growth 2 years later, he has exceeded all expectations. With Jeff's practice expanding at an impressive pace, culminating in a hiatus from new client engagements for the latter half of 2023. He credits much of his success to the support of friends, family, and peers much like those in his XYPN Mastermind Group. Jeff and his wife are on the brink of welcoming their second child.
For those looking into how their current support systems can bolster their practice, this episode is for you!
You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/369  

 Our guest today shares how not only are students of all ages needing financial guidance, the solutions available to them can completely change the way we look at student loan repayment and consolidation.
In this episode, we have the pleasure of sitting down with Erik Kroll, CFP®, the founder of Hilltop Financial Advisors and Student Loans Over 50.
Erik's journey in the financial advisory world began in 2015 when he set out to create a business that could afford him the opportunity to blend work with the rest of his active lifestyle. Originally a versatile advisor, Erik's expertise naturally evolved over time, leading him to identify a crucial need in the market—helping older clients nearing retirement navigate their substantial student loan burdens. He tells stories about how he has changed the financial landscape for his clients,  including helping one client eliminate over $250,000 in student loan debt practically overnight!
We discussed how he manages the two brands of the company, as well as what he's hoping to accomplish with his business. One really unique thing that Erik has built is a tiered service model that allows him to work with clients at different stages of their financial journey—something that many financial advisors have trouble navigating. For those looking at a great example of how to do this successfully, be sure to tune in!
You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/368  

We often hear how the network of support and connection that XYPN offers is a strong component of success. In today's episode, we learn that for our guest, Leland Gross, CFP®, the founder of PeaceLink Financial Planning, "community" wasn't just a benefit, it was essential after a life-changing event pulled his focus from building his business.
Leland discovered financial planning after meeting some advisors through a volunteer program he was part of just after college. He noticed that the advisors were able to work hard while also coaching kids' sports teams and having time to volunteer. Appreciating the flexibility he saw, he decided it was a fit for him. He started his career on the sales side of the business, but over time discovered fee-only planning and the opportunities it presented to him.
In September 2021, Leland launched his firm and discovered that same month that his wife was pregnant! Three months later, they received the devastating news that their baby would need open heart surgery just after birth. Leland shares how his XYPN study group jumped in to help him keep his business from failing. While he focused on his family, they got set up so they could call Schwab on the client's behalf, helped craft emails and communications to clients, and basically did anything else they could do to support him while he cared for his family.
With their assistance during that critical time, and Leland's strategic social media and podcast leveraging, he is now serving 45 client households (in less than 18 months!) in the self-employed niche—all while experiencing major changes and hardships to his growing family. Leland’s story really shows how perseverance and support can get us through unimaginably difficult times and help us still find success. This is a story you won’t want to miss!
You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/367 

If you’re wondering whether taking custody of client accounts and a virtual assistant is right for your independent advisory firm, this episode’s for you!
Taking custody can be a scary decision, but sometimes it's the right one. Just ask XYPN member Kate Yearwood Young, CFA, CFP®, founder of Yearwood Young Advisors.  From engineering to Wall Street to founding a successful business, she acquired the skills and services to meet her client’s needs where they are.  And their needs dictated that she take custody.
Born into the advisor role despite her family’s best efforts—her father, aunt, and cousin are in the industry—Kate was encouraged to explore other avenues of interest, but sometimes it’s in your blood! After getting a degree in engineering, Kate pivoted back to finance and soon found herself on the Wall Street Trading Floor.
She developed her knowledge and expertise in evaluating hedge fund managers for large pension funds and ultra-high-net-worth clients. In 2019, she made the decision to leave her last firm and start her own business. She launched in May 2020 with a six-month-old baby but found a way to persevere and began to grow her firm.
Kate has a really unique service offering.  In addition to comprehensive financial planning and investment management, she also has a family office service. She needed to take custody of client accounts because she has bill pay authority for her office service.
A deeper dive into the topic reveals her experience with the audit process and the documentation required when you have full control of a client's bank account.
We also dive into what she's building and how she plans to get more control of her calendar, the number of hours she works, and how she's leveraging a virtual assistant and soon-to-be outsourced paraplanner.
From being in touch with her clients’ needs to growing her business in the most sane and productive ways, Kate’s story is one that we need to hear.
You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/366 

If you are interested in learning highly effective, yet simple ways to use data-driven market research to find and maximize your niche, this episode is for you! 
In this candid and informative conversation with XYPN member Marlon Wesh, MBA, founder of Wesh Financial, we learn how Marlon’s early experience in HR for the Marine Corps helped formulate his firm’s operational systems. We also hear how earning his undergraduate degree and MBA in business administration was tremendously helpful in structuring the business side of his firm—especially his marketing classes which informed his approach to finding his niche. 
While completing his MBA, he did an internship with Merrill Lynch and decided that his path would be better served as an entrepreneur where he owned 100% of his business and where someone else wasn’t testing out their inclusivity on him.
He launched his firm in late 2019 with minimal planning experience, but a whole lot of grit and self-confidence. He tried a few niches and quickly established that just because there’s a gap in the market, it doesn’t mean there’s a market in the gap. So, he turned to methods informed by both his marketing classes and what came most naturally to him: data-driven market research. 
His strategic approach proved to be both satisfying and profitable.  A Google search that started with “What are professions that have complicated taxes?” ultimately led him to his niche: traveling nurses. He didn’t stop there though, he studied multiple online forums where traveling nurses shared what he determined were pain points.  He then turned those pain points into his selling points—which directly fueled his success.
Marlon was super open about the challenges of starting a firm, especially with young kids, and how he and his wife ultimately navigated it. He also shared that the next phase of his business will focus on helping advisors with their marketing. I hope you enjoy this conversation as much as I did.
You can find show notes and more information by clicking here: https://www.xyplanningnetwork.com/365