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Mindy is the owner of Creative Money, an independent RIA based in Seattle, Washington, that offers a unique 12-month financialplanning engagement – or as Mindy puts it on her homepage, “financialplanning that doesn’t suck” – which has allowed her firm to work with nearly 400 client households just this year.
Let's talk compliance. Sometimes that one word has the power to make financial advisors break out in a sweat. Many advisors—especially those who haven't managed their own compliance previously—can feel like it's the "monster in the closet." But it doesn't need to be!
Welcome to the 388th episode of the Financial Advisor Success Podcast ! Freeman is the Co-Founder of La Crosse FinancialPlanning, an RIA based in La Crosse, Wisconsin, that oversees nearly $50 million in assets under management (AUM) for 73 client households. Welcome everyone! My guest on today's podcast is Freeman Linde.
Welcome to the 388th episode of the Financial Advisor Success Podcast ! Freeman is the Co-Founder of La Crosse FinancialPlanning, an RIA based in La Crosse, Wisconsin, that oversees nearly $50 million in assets under management (AUM) for 73 client households. Welcome everyone! My guest on today's podcast is Freeman Linde.
The rise of new tools, such as the Elements Financial Vitals System and AssetMap, aims to move from complex, comprehensive projections to more digestible summaries that facilitate great client conversations. So, which planning software should you use? Let's take a look!
Fee-Onlyfinancial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. It’s important to note that commission-based financial advisors are not required to disclose the amount of commission they receive on the products they sell.
As a business owner in the financialplanning industry, we know you wear many hats to ensure the success of your business and the satisfaction of your clients. Some of these issues could cause you to fall out of compliance, a dreaded word in the FinancialPlanning industry. One of those hats might be bookkeeping.
In this episode, we talk in-depth about how Jenny and her partner grew their firm from $19 million to $250 million of assets under management in just 7 years, thanks in large part to investing in a professionally designed website that highlighted their status as a women-run fee-onlyfinancialplanning firm, how Jenny felt an increasing burden of operational (..)
In this episode, we talk in-depth about how Jenny and her partner grew their firm from $19 million to $250 million of assets under management in just 7 years, thanks in large part to investing in a professionally designed website that highlighted their status as a women-run fee-onlyfinancialplanning firm, how Jenny felt an increasing burden of operational (..)
Becoming an independent fee-onlyfinancial advisor can seem overwhelming, lonely, and stressful. We're excited to lead off with a powerful story about how community became a critical success factor for XYPN Member Leland Gross CFP®, the founder of PeaceLink FinancialPlanning.
An RIA firm’s financial advisors must follow the fiduciary standard which is believed to be the highest standard of care in the industry. Fee-only advisor – This is an advisor that does not charge commissions and hence is believed to be more aligned with the client’s best interests.
Deciding to take the leap to start your own financialplanning firm can be very scary. How do I manage compliance? In this peer-to-peer guest series, we take a deep dive into those decisions as XYPN members share their stories, resources, regrets, and successes experienced while launching their financialplanning practice.
Deciding to take the leap to start your own financialplanning firm can be very scary. How do I manage compliance? In this peer-to-peer guest series, we take a deep dive into those decisions as XYPN members share their stories, resources, regrets, and successes experienced while launching their financialplanning practice.
Deciding to take the leap to start your own financialplanning firm can be very scary. How do I manage compliance? In this peer-to-peer guest series, we take a deep dive into those decisions as XYPN members share their stories, resources, regrets, and successes experienced while launching their financialplanning practice.
Deciding to take the leap to start your own financialplanning firm can be very scary. How do I manage compliance? In this peer-to-peer guest series, we take a deep dive into those decisions as XYPN members share their stories, resources, regrets, and successes experienced while launching their financialplanning practice.
Deciding to take the leap to start your own financialplanning firm can be very scary. How do I manage compliance? We're excited to launch a new series of XYPN member stories entitled "How I Did It." And actually "leaping" can feel overwhelming. There are so many decisions and responsibilities. How am I going to make this work?
As the move to transparency in financialplanning takes hold, regulations are changing in Colorado and other states. Here’s the triumph of virtue that financialplanning transparency will (FINALLY) bring to planners across the country and the benefits to clients that come along with it. What should financial advisors do?
Over the past year, we've published articles written with one purpose in mind: to help independent financial advisors be successful. From RIA compliance best practices to using behavioral marketing tactics to get more clients, this list is loaded with one helpful resource after another to send you into 2024.
We rounded up some of XYPN's best resources for advisors who want to launch their own financialplanning firms. From tackling compliance to creating a business plan and everything in between, this roundup of resources will set you up for firm launch success.
Advice-onlyfinancialplanning is fee-only comprehensive financialplanning without the expectation or even the option to manage any client investments. Financialplanning is offered as a stand-alone product; it is the only thing that an advice-onlyfinancial planner does.
Alabama Chad Holmes [link] Flat-fee comprehensive financial planner helping baby boomers and their parents proactively minimize taxes between the two generations. Arkansas Jacob George [link] Flat-feefinancialplanning for Christian families wanting to make an eternal impact! Chris Shoup [link] Georgia David E.
What does it mean to be a Fee-Onlyfinancial advisor ? Fee-Onlyfinancial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. This fee covers not only investment management, but also financialplanning.
We rounded up some of XYPN's best resources for advisors who want to launch their own financialplanning firms. From tackling compliance to creating a business plan and everything in between, this roundup of resources will set you up for firm launch success.
Transitioning from a solo operation to a dynamic team can be a game-changer for boutique financialplanning firms. But with growth comes the challenge of building a cohesive team and managing turnover. The key to overcoming these hurdles is intentionally defining and nurturing your firm’s culture.
Recent surveys conducted by our team at Hubly reveal that many firms prioritize "team accountability" above significant concerns such as workflows for money movements, financialplanning, or client onboarding.
Deciding to take the leap to start your own financialplanning firm can be very scary. How do I manage compliance? We're excited to launch a new series of XYPN member stories entitled "How I Did It." And actually "leaping" can feel overwhelming. There are so many decisions and responsibilities. How am I going to make this work?
If it often feels as if your to-do list never ends with administrative tasks and compliance management, on top of your regular client meetings, you’re not alone! 3 MIN READ Raise your hand if you've ever wondered how you can boost your productivity and become more efficient. ?
With the rapidly increasing use of digital technology in the fintech space to aid in delivering investment management and financialplanning services or to supplement an adviser’s existing services, many more firms are working with clients virtually and relying on technology to support their advisory business.
We see many advisors with successful careers in financialplanning and investment management influenced at some level by the ability to cross every “T” and dot every “I.” 7 MIN READ.
Outside investment managers—such as TAMPs and robo-advisors—are a popular solution for advisors seeking to offer clients expert asset management services without needing to hone that expertise themselves or simply spend the time doing it (as in financialplanning-only firms).
There are customers and employees, marketing and keeping an eye on industry trends, cash flow and compliance. 8 MIN READ There are a million things to keep track of when running a business. With these come a number of different dates to keep track of, which as a small business owner or a solopreneur can get overwhelming, fast. to address!
I’m in the early stages of writing a book about my experiences over 40+ years in the financialplanning profession (is anybody going to want to read it?). Or that FINRA is going to take over the regulation of all advice-givers, and bring the hammer down on those fee-only ‘rogue brokers.’
3 MIN READ. Knowledge is Power, Power provides Information; Information leads to Education, Education breeds Wisdom; Wisdom is Liberation. People are not liberated because of lack of knowledge.”? Israelmore Ayivor. I love learning and growing my brain, don’t you?
Over the past year, we've published articles written with one purpose in mind: to help independent financial advisors be successful. 5 MIN READ. As 2022 comes to a close, we rounded up our top 10 most-viewed blogs published this year.
4 MIN READ. New year, new firm? Whether you’re changing firms or starting your own, there are many things to consider and do. If notifying or bringing your clients with you is on your checklist, add this task first: C heck employment contract.
He thinks that the distinction has been deliberately (and very effectively) blurred by the brokerage industry, which advertises itself as helping facilitate peoples’ dreams with financialplanning and investment advice, whose brokers call themselves, on their business cards, advisors, vice presidents of investments or wealth managers. “If
An hourly financial advisor is someone who provides financial advisor for a set hourly rate. These services often include recommendations on investments, financialplanning, retirement, Social Security, Medicare, tax planning, and other wealth-related topics. Hourly financial advisors are not common.
The problem for them is that they went into this deal thinking they were gonna hurt and ET 788%, and they actually end up earning 3 E45%, and that… Is that now their whole financialplans… Erectus Earl. Yeah, you have a short fall. SARA GRILLO: Okay, Bobby. SARA GRILLO: Other than five and a half, six. Excuse exactly.
I am an irreverent and fun marketing consultant for financial advisors. What is an advice-onlyfinancial planner? Advice-onlyfinancialplanning is fee-only comprehensive financialplanning without the expectation or even the option to manage any client investments.
We’ll discuss these questions: The CFP Board has specifically stated that it wants the CFP® mark to be a requirement for anyone who practices financialplanning. The debaters are: Robert Wright, CFP®, a financial consultant with Advocacy Wealth Management. What is your opinion? Robert will be on the “for” team.
Brian Hamburger has been one of the leading authorities in the world of registered investment advisories, broker-dealers, SEC regulatory compliance. And I would constantly hear them frustrated by the compliance department. HAMBURGER: They were just blaming compliance for everything they couldn’t do. RITHOLTZ: Right.
The financialplanning industry is evolving fast, and advisors are searching for better ways to build, grow, and run their firmswithout feeling bogged down by compliance and operational headaches. Were making owning your financialplanning business easier than ever while getting the support you need to thrive.
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