Last month I spent three days in St. Louis at the XY Planning Network’s annual conference, XYPN Live, learning and discussing how advisors can collectively continue to move the financial planning industry forward. Most in attendance were financial advisors and most of those financial advisors were CFP® Professionals and XYPN members; however, there were non-XYPN members thinking of breaking away to start their own firms, Fintech people, and a few others just really interested in financial planning. It was a great group and a great time–the conversations I had with other advisors alone were worth the drive over.
While I was there I decided to break out my digital recorder like I did earlier this summer at EBI West and ask as many people as I could one question…
“What is one misconception young professionals have about financial advisors that you’d like to debunk?”
My hope for this podcast is that listeners, especially young professionals, realize many of the excuses they have been using to delay meeting with a financial advisor are just that…excuses. You’ll hear from different advisors, serving different niches, with different strengths and approaches to working with clients–yet, despite their differences, you’ll hear a lot of similar answers and an underlying theme that there is a growing tribe of advisors wanting to help young professionals and the traditionally underserved with financial planning.
A secondary and personal goal for this episode is to hear from one of the guests that they started working with a new client because of their answer. I view this as a win-win; an individual needing financial advice took the initiative to get started and a great advisor grew their business!
I’ve listed each of the participants in the order they answer on the podcast. I’ve also linked to each of their websites in case one of their answers motivates you to get moving on your financial planning. Many of the advisors you will hear are in the early stages of running their own firms, and I will not be surprised if a number of these advisors end up on Investment News 40 Under 40 and other industry lists.
One final housekeeping note: I changed the format from EBI West…I listened to the feedback and instead of repeating the question with each guest, I asked the question to the first guest and each guest thereafter just says their name and firm name prior to asking the questionnaire; less of me and more from the superstars!
I hope you enjoy!
Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.