Bigger Picture, Financial Planning, Millennials

The Next Generation of Advisors

Last November I wrote a post highlighting my bullishness on the financial advisory industry; I was fresh off my trip to New York City for the Evidence Based Investing Conference where I was surrounded by some of the best advisors in the country. You can check out that post here.

Fast forward to today, well yesterday to be exact, and one of the advisors I had the chance to meet (and secretly geek out about meeting), Ben Carlson (readers of my mixtapes should be familiar with Ben by now), wrote a very similar post about his bullishness on the next generation of finance.  While I was bullishness on the industry in general, I agree with Ben about the next generation of advisors, and while he probably won’t admit it, he’s a part of the very group he is bullish on. He and I are the same age, which puts us at the “old” end of the Millennials, but Millennials nonetheless. It’s impossible to deny the impact Ben and his firm are having on shaking up the industry, and I hope that as my firm continues to grow the same will be said about RLWM.

Let’s get back to Ben’s post because as I read it I immediately thought of a group I am proud to be a member of–the XY Planning Network. If you were to take all of the reasons Ben cites for his bullishness, you’d come up with the members of this network–see below.

The XY Planning Network

The network consists of CERTIFIED FINANCIAL PLANNING™ professionals offering financial planning relationships through subscription models instead of only AUM fees; the planning is tailored to the needs of Millennials, which are often different than the needs of retirees. As a member of the XYPN I get to see the tremendous work the advisors in the network are doing with their clients every day–we have a page dedicated to communicating with each other that is filled with great conversations.

It’s exciting to see the network grow because it means financial literacy and planning is now being made available to a large group of individuals who have been neglected in the past and forced to work with salespeople posing as financial advisors. The future is looking brighter for those looking for help! If you’re interested in finding a financial advisor that specializes in your needs as a young professional, I encourage you to check out the find an advisor section of the XYPN website–there are advisors offering different types of relationships: some manage investments, others only do financial planning. Depending on the type of help you are seeking, you will surely find a qualified candidate here. 

It’s not just the XYPN that keeps my bullishness on the industry and next generation of advisors; I’ve had the chance to connect with firms across the country thanks to social media, and there are an increasing number of advisors leaving the old financial services model behind to improve the industry for everyone.

If you’re interested in learning more about how my firm RL Wealth Management is working with young professionals and families  click here.

Read more:

A Wealth of Common Sense: Why I’m Bullish on the Next Gen in Finance


Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.