You're A Financial Planner; Now What?

Kirsten Ismail, Vice President of The Taylor Group, joins us for an interview where she discusses the challenges of being a career changer and entering the profession as a woman. She attributes much of her success to her study group thanks to the diversity and support of its members. “Do you want to be a part of something that exists or something that you want to create?”   DFW FPA Career Day FPA Retreat

“Sales” is viewed as a dirty word, but Glenn Mattson wants to change that. Glenn has been a coach for financial advisors for many years and shares his experience in working with advisors. So much of the time, advisors, especially young advisors, avoid “sales” roles because they don’t want to sell.  Glenn debunks that myth and shares how important it is, even if you’re not in a sales role, to hone those skills (hint: it involves managing your boss or owner of the firm!) Join us as we look at what sales really is and what we can do today to better our careers. Goals are not something you just write down and forget about… You need that 2 degrees of tipping point on why you’re doing this. You need that little push of motivation when it is time. Sandler Training

Sophia Bera joins us today to share her story on becoming the financial planner for millennials.  Sophia saw the need to bring financial planning to her generation and was one of the first to create her own firm to do so.  She is one of the most recognizable financial planners on social media, in the news and shaking up what it means to do financial planning. This is an episode you won’t want to miss!   “Financial planning is both an art and a science and more of an art than a science. People think what I do is math all day and what I really do is have great conversations with people.” GenY Planning NexGen Betterment FinCon Unmistakable: Why Only Is Better Than Best Advizr

I am excited to have Dr. Dave Yeske on today’s podcast! Dave is the current Practioner Editor of the Journal of Financial Planning, past President of the national Financial Planning Association and runs Yeske Buie, a financial planning firm that is a national leader for best practices. To say his resume is impressive is an understatement! Today Dave shares the importance of research for financial advisors. We discuss the research he did on Policy-Based Financial Planning, which has been implemented by many firms as well as how financial planners, especially young planners, can incorporate research into their firms. If we want to truly move forward as a profession, we have to be engaged with the research and let that help guide our work with clients. I hope you enjoy this episode!   If we can take some researched based approaches to helping  our clients affect healthy changes in their lives and in their financial lives… why would we not want to be using the most powerful tools for that.  

Ed Gjertsen II joins us for an in-depth look at the new fiduciary rule and provides crucial insight the upcoming changes to our profession. Ed is currently the Chairman of Financial Planning Association and has been working on the fiduciary ruling both from his time being on the national Financial Planning Association board and serving in their leadership role. He has been on the ground floor of these legislative changes as a champion for planners and clients alike.   “I can tell you since being involved as I have in the last 6 years… FPA has really become a known entity on Capitol Hill. There’s a lot going on that may not be necessarily visible to members but we are advocating on behalf of our members day in and day out.”   Mack Investment Securities, Inc. Financial Planning Coalition Financial Planning Association The National Association of Personal Financial Advisors 3rd Annual FPA Advocacy Day U.S. Securities and Exchange Commission DOL – Employee Retirement Inc

So often when I hear people talk about financial planning careers, they assume you want to be a lead advisor. Today we have Dennis Moore, who shares his career progression and how he transitioned from a financial planner track to an operations track within his firm. Dennis also shares great insights on how to approach firm owners pragmatically, like he did to open a separate financial planning arm five hours away so he could pursue his MBA. There is nothing more valuable to a firm than someone who is wired to be an operations manager or support role be in that position.   There’s a lot that goes on behind the scenes. I think coming out of college and for my first few years in the profession, you really don’t see just all the moving pieces and what all goes into doing this.   Quest Capital Management Personal Financial Planning – Texas Tech FPA® Annual FPA® Conference Bob Vere’s Insider’s Forum  

Today we have another recorded #YAFPNW meetup with Lynn McIntire from Cadent Capital. Our topic this meeting was Networking. Networking is one of the most advantageous skills to learn, both from a personal and professional standpoint. I can tell you from personal experience, it has been one of the things that has propelled my career the furthest. I hope you enjoy this episode and would love to hear any feedback or ideas for future meetups! We would like to thank The Milestone Group here in Dallas hosting us again!  “There’s a lot of value in cheering your peers on… and I don’t think we do that enough.”   The Milestone Group Cadent Capital NexGen XY Planning Network Michael Kitces NAPFA Genesis NexGen Gathering FinCon XYPN Radio VIP Digital Marketer Your Money or Your Life

Starting a second career is never an easy task. Today we share with you Ron Turner, a career changer who started his own RIA. After five years in the business and hiring his own financial planner, he decided to sell his practice.

On today’s episode, we are sharing Scott Kahan’s story with you. Scott’s story is pretty incredible on several levels. Scott started his RIA 30 years ago when he was in his 20s, which also happened to be the same year he purchased his first computer. While it may seem he has little in common with young advisors now, that is anything but true. His story mirrors so many stories I hear everyday from young advisors starting out. From day one, Scott was committed to providing the best service to his clients, regardless of their net worth. He started by helping his peers and continues to help those who don’t have the asset minimums that are required by so many. His retainer model was one of the first of its kind in the early 2000s and still offers couples financial planning at a little over $100 per month, if they don’t have the assets. He started the CFP program at NYU when he was 27(!) and has been an advocate for young planners ever since then. As Scott said, he feels like he’

On today’s episode we have Mike Mills who is 18 years into his financial planning career and started out on his own when he was in his mid-20s.  He has great insight for those who are starting their firm and shares his personal story of how experiencing a disability shaped how he approaches financial planning differently than others. Mike also shares his beliefs about the “best is best” standard versus the “fee-only” standard. Don’t miss it! “If we’re out there providing our best advice, I don’t really care what kind of product I’m selling. At the end of the day, I’m solving problems.”

Caleb Brown, MBA, CFP®, started his career working for a small RIA and volunteering for local financial planning groups.  Through that experience, he started New Planner Recruiting, which pairs financial planners with employers.  He has great insights into what you can do to set yourself apart from other applicants or excel at your job.  If you want to get to the elite status, this is definitely a must-listen podcast!   “You’ve got to find ways to demonstrate value… [Bosses] don’t care what the salary surveys say. If you feel like you deserve more money, you need to write up a plan.” The E-Myth Revisited Find your local FPA chapter and connect! Noted job boards: NAPFA, CFP, FPA, & AICPA.

This week we have Brad Baldridge, the face and voice behind Taming the High Cost of College.  Brad has his own financial planning firm and shares his story on how he started out. He also shares with us about niching down into college planning and some of the pitfalls financial advisors can find themselves in if they aren’t prepared for it. Brad is a great example of how you can find a niche and really make it work for you. “A lot of financial planners think of college planning as college saving… but if you’re a  advisor and you don’t understand how financial aid works and college works… say ‘I don’t know if you’re going to qualify or not’… don’t tell people misinformation.” Taming the High Cost of College Podcast Baldridge College Solutions  

We are back and today’s guest is Katie Brewer, CFP®. She started Your Richest Life as a Fee-Only financial advisory firm to provide “honest and independent” financial advice to X and Y Gen clients. Katie is an proud member of the XY Planning Network, the FPA, and NAPFA. She has over 10 years of financial planning and she’s been quoted more times than any other young planner that I know. Who else would be so crazy awesome to study for the CFP® and an MBA at the same time? I’m excited that she gets to share her tenacity with you today and I hope you enjoy the interview as much as I did! “The more that you know about where your strengths lie.. the more that you’re able to know if it makes sense for you to start a firm…or partner with somebody else… or be a junior planner… or something else.”  

This week we continue our discussion with firm owners to help young planners navigate their career paths. Our guest started his own financial planning firm and sold it, all well before his 40s. He is a XY Planning Network co-founder and champion of fee-only RIA practices that serve young people. That’s right, our guest this week is none other than Alan Moore (no relation!) and in this episode he’ll share his story. If you’ve felt like a “square peg in a round hole” or just couldn’t sit still because you wanted to make your mark in our profession – this is an episode you wont want to miss!   “Just because you’re working with clients doesn’t mean that money is flowing in… the one thing you can’t rush is time.”   Also, be sure to check out XYPN Radio for lots of great episodes for young planners!

This week’s guest is Thomas E. Murphy, CFP®, AIF®, the Chief Executive Officer at Murphy & Sylvest. He has kindly shared with us his insight into the financial aspects of running a firm and what young planners need to know from his perspective. Tom is an industry veteran of almost thirty years and active member of the FPA® – He’s a FPADFW regular and many of you have probably already met him.   The best way to prepare to become a firm owner is to start thinking like a firm owner today and Tom’s insight will definitely give you a jump start on that!   “There’s a lot of difference between information on the internet and wisdom. Wisdom applies to that particular client and that particular client’s situation.”   XY Planning Network FA Insight Mark Tibergien    

Welcome back to another episode of You’re A Financial Planner; Now What? I recently gave a presentation titled “Blogging for Financial Advisors” to the Dallas FPA NexGen group and we are excited to share that with you. You will also hear a little more about my story and how I use what I’ve written to connect with clients. Blogging can be one of the best ways to market and promote yourself, but you have to know what your end goal is and some of the challenges you may face while blogging in this profession.  I hope you enjoy this episode and are encouraged to explore blogging for financial advisors.   “I am not a natural writer at all but I wanted to learn… I know how important my voice coming out in writing is.”   A very special thanks to True North Advisors for hosting the NexGen meetup!   Blogs and resources from the presentation: Money Saving Mom triphackr Tracy’s New York Life Young House Love COBB Tuning Stage 2 Planning Mom and Dad Money Goo

This episode features the June meetup in Dallas where I am once again joined by Casey Kupper, a CFP® and CFA® from Cadent Capital. We discuss business models in the financial planning profession. These models will continue to change and I expect new mo...

For this episode, we take you inside the 2016 FPA Retreat to share a great conversation on Moving the Profession Forward through Young Advisors. This conversation touches on examples of how young planners have been successful, what their firms have done to help them and an honest conversation between the younger and older generations about the struggles each faces. Ever wonder what goes through a firm owner’s mind when a young advisor asks for ownership?  Be sure to listen to the end as one firm owner shares her internal struggle when young advisors immediately ask for ownership. I want to thank everyone who was involved in this conversation who so openly shared their struggles and perspectives.  Conversations like this are what will help move the profession forward. “There’s a lot of humility that’s required in this… on both sides.”   Cassandra A. Humphreys, MS, CFP® Andrew Sivertsen, CFP®, CAP® FPA Retreat 2017 FinCon

For this episode we have a treat. Dr. Dave Yeske, CFP® was kind enough to send us a recorded speech by one of the founders of our profession – P. Kemp Fain, Jr. P. Kemp Fain, Jr. gave this speech at Texas Tech almost thirty years ago and it will be our starting point as we explore the history of financial planning. Also, as we explore the history of our great profession, I hope other young professionals take up the challenge to find ways to show gratitude to those we know who have paved the way for us. “We truly are standing on the shoulders of giants.   FPA NexGen FPA Awards Texas Tech Personal Financial Planning

Dave Grant is an internationally known planner from the Chicago-land area and in this episode he helps us to respond to an e-mail from Kristen, a financial advisor and listener.  She shared with us her story and struggles with feeling lost in the industry. I know there are far more people in financial planning that can relate to her, and her questions, than we might think.  This is a hard profession to break into, but it is worth it. Thank you, Kristen, for the e-mail.  I hope you know that you are not alone and that you find your place in the profession. “In our day and age.. you see everyone’s good parts. You don’t see the struggle that people have gone through.”   “The dark side of becoming an RIA owner” Finance for Teachers Finance for Teachers Network Fox Financial Planning Network