How Can XYPN Membership Benefit Established Advisors?

As a Lead Business Development Specialist (aka Network Navigator) on the XYPN Sales team, I spend my days visiting with prospective members that are considering joining the Network. One of the most common misconceptions I hear from them about XYPN is that they believe membership is geared solely towards helping financial advisors relatively new to the industry that are looking to break out on their own for the first time. Seven years ago, that may have been our sweet spot at the organization’s founding, but XYPN has evolved significantly since then to offer more established advisors an equal wealth of resources. 

As one of our founding members, Pam Horack (a member for over seven years) of Pathfinder Planning will tell you: “As my business has grown, XYPN has also grown to meet the needs of my business. It used to be that XYPN was where you go for a startup. It really had that connotation. But now, XYPN has evolved to meet the needs of all advisors, not just startups.” 

Here’s how XYPN membership can be instrumental for you if you are an established firm owner in the building or scaling phase of your business.

Technology

Our core technology stack has been vetted to efficiently and effectively meet the needs of financial advisors while also saving them money. But what if you already have your tech stack in place and are not looking to make a change? We have other offerings and discounts that can help you continue to grow your business that you may not be aware of.

Gusto

As you expand your firm, you will need a solution to onboard, pay, insure, and support your team. Gusto's people platform makes it easy. Launched in 2012 as ZenPayroll, Gusto serves more than 100,000 businesses nationwide. Each year they process tens of billions of dollars of payroll and provide employee benefits—like health insurance and 401(k) accounts—while helping companies create incredible workplaces. Through one refreshingly easy, integrated platform, Gusto automates and simplifies your payroll, benefits, and HR, all while providing expert support. You and your employees will get the peace of mind you need to do your best work.

Pricing: XYPN members that are new users to Gusto are eligible to receive 20% off the total cost of Gusto’s payroll and HR platform. This includes all licensing tiers of Core, Complete, Concierge, etc. 

eMoney

XYPN now has an upgraded partnership with eMoney, offering you more options and better pricing than ever before. eMoney is a financial planning software platform built to help advisors design and meet the growing needs of their firm. eMoney helps you plan across the client lifecycle by helping you evolve and consolidate your workflow. The eMoney platform allows you to engage with your clients in an interactive and collaborative way through their client portal.  You can also manage your practice efficiently and effectively by using advanced analytics to analyze and identify opportunities for growth, streamline compliance efforts to manage risks, and gain visibility into your book of business to identify new opportunities for clients.

Pricing: XYPN members enjoy the following discounts: Plus: $2,200 (MSRP $2,600), Pro: $2,700 (MSRP $4,100), Premier: $3,360 (MSRP $5,000)

Orion

XYPN recently introduced new pricing for Orion users in the network. Orion is a leading portfolio accounting and performance reporting tool. Orion provides customized performance reports, supports trade order management, facilitates AUM billing for your clients, and integrates with a wide variety of advisory tech tools. You can also add Quovo for account aggregation, which allows you to show your clients consolidated reporting on all of their outside accounts from a single client portal.

Pricing: XYPN member pricing update highlights:

• More accounts included in the minimum (110 vs. 60)
• Lower per-account pricing from the first tier ($44 vs. $65)
• Lower ByAllAccounts pricing ($80/account vs. $500/qtr subscription + $65/account)
• Lower Eclipse pricing ($2,000/yr flat vs. $3,000/yr minimum)
• New pricing:

Marketing

Whether you are looking to expand into serving Gen X and Y or focus on client acquisition in your current niche, XYPN can help you grow. We have the tools and resources you need to achieve the vision you have for your firm.

Targeting Gen X and Y

If you have been billing on a percentage of AUM and are finding that it doesn't work for a new client base you want to attract, XYPN can help you fix that. As part of membership, you will have access to our Advisor Education Team and Knowledge Base that will help you review your current service lines and fee structure to determine what needs to change. We have extensive pricing and engagement structure support and content to help you set up a structure and style that engages those without assets in the accumulation stages of their financial life. 

XYPN members can use our financial planning and process tools to shift the way they present a plan or even create the plan to help reach a different type of client. There are two workshops in particular that will both help create means to reach a new target audience and craft new messaging:

Marketing Growth Workshop: XYPN's Growth Workshop is an immersive, 6-week program that will supercharge your marketing by pushing you to be more strategic, take risks, and unveil what makes your firm unique. Use this training to create a roadmap to attract your dream client by leveraging your unique strengths and experiences.

CALL Program: The Client Acquisition Launch Lab (CALL) is a 5-week, live-learning program. CALL builds on your current skills to help you share your value and define your niche sales channel. You will be guided to develop a repeatable sales process while learning to convert leads to prospects and prospects to clients.

Seven Group

Seven Group—a platform and tech-enabled program that powers up financial advisors to market more effectively in a digital world—is now a select tech partner for XYPN advisors. Seven Group is the first marketing tech platform with planning and advice at the core providing strategy, coaching, ready-to-go content, email nurture campaigns, social media graphics, sales presentations, and webinars—all at your fingertips.

Pricing: XYPN members receive access to all three tiers of pricing. All tiers are discounted 25%, and the first three months are FREE.

• For the advisor who has a plan in place but needs some extra help: $74.99/month (MSRP $99.99)
• For the advisor who wants a marketing partner to build a strategy and assets together: $187/month (MSRP $249)
• For the advisor who wants to outsource most of their marketing efforts: $563/month (MSRP $750)

Find An Advisor Portal

Our Find An Advisor Portal is a member benefit that allows consumers to find fee-for-service financial planners and CFPs like you. This search tool is a unique system that helps in promoting your firm and exposing your niche to the financial planning world. Consumers search this webpage daily to find advisors whose services match their needs. 

Media Requests

At XY Planning Network, we work to facilitate interactions and relationships between members and members of the media. We want reporters and writers to have easy access to excellent sources who can provide professional opinions on a variety of topics, and we want to support our advisors in getting quoted in different publications.  Frequently, members of the press will seek out help from XYPN members and experts for stories, articles, and quotes on industry trends and other financial planning-related topics.        

Errors and Omissions Insurance

Our E&O insurance policy is through Markel, administered by Starkweather and Shepley Insurance Brokerage Inc. As a member of XYPN, your coverage begins the day you apply for our group E&O policy. If you’re switching from a different policy, this means no gap in coverage. Members can also take advantage of an abbreviated insurance application. Through your membership with XYPN, access to E&O insurance is simple and affordable.

Pricing: For advisors with revenue below $250k, $106/mo for $500,000 or $146/mo for $1M; for advisors with revenue between $250k and $700k, $248/mo for $1M. For advisors with revenue over $700k, there is an XYPN discount with Markel for a separate policy. If the advisor is already with Markel, there is a maximum discount applicable, but they should mention their XYPN affiliation to be certain it is being applied. Our policy covers up to two advisors per firm.

Community

XYPN members are not only the best part of our network—they are the reason the Network exists as it does. They are an enthusiastic, generous, and supportive group of like-minded individuals that believe in the mission of fee-only advisory and share an attitude of abundance. The advisors in our network provide support and camaraderie for individuals who are experiencing the same hurdles, challenges, and victories establishing and growing their financial advisory firms. Our members report that they find tremendous value in this access to other advisors and that their firms would not be the same without the knowledge, guidance, and support they gain from other members. And there are a number of opportunities to tap into the XYPN community:

Mastermind Study Groups 

Mastermind Groups are key to every planner’s success. At XYPN, we have both business-phase and topic-specific groups that you can join. These are the power group of peers that you need to see you through the good times and the bad. We have open enrollment groups that you can join at any time or private groups that we can match you with. The intention is to find you a handful of peers whom you'll meet with regularly in an organized fashion to make progress on your business. The connections you make within these groups will provide insight and support that is priceless throughout the life of your firm. 

Inside Experts

With such a talented community, why not take the opportunity to learn from one another? With over 1,500 members, XYPN is privileged to enjoy the expertise of the advisors in our network through this webinar series hosted by none other than your peers. With a variety of topics, you're bound to walk away with new ideas you can implement within your firm right away.

Topic-Focused Networking

Hosted and facilitated by our Member Success Team, these virtual networking events allow you to engage with other XYPN members who are passionate about their niches and specialties. XYPN will feature several subject matter experts (SMEs) for each topic as representatives. You can plan to come away with valuable insight, actionable goals, and helpful resources.

Job Board

Our job board is one of the most valuable XYPN benefits in our member-only forums. Our members use our job board for advertising their employment and internship vacancies, for seeking employment, and for networking with other members to match them with prospective clients. The job board can be a great opportunity to find a quality paraplanner or virtual assistant. Many advisors have even merged their businesses and have become business partners just from using our job board!

Member Meetups

XYPN offers sponsored member meet-ups within our community as an XYPN member benefit. Our network has a strong history of networking and collaboration we continue to nurture by encouraging our members to host and attend local meet-ups. These events serve as a way for our members to engage with and meet other fee-only advisors, connect with peers, and collaborate with those who share similar business interests.

Member Forum

Our member forums are the central place for engaging with your XYPN membership community.  Our forums serve as your safe space for discussion, networking, and information exchange. Members are encouraged to collaborate throughout the entire length of their membership. This ultimately allows the member forums to become an essential part of a successful advisor’s business. Whether you have a question about firm ownership or a complex client scenario you need help with, you will have the incredible resource of over 1,500 members at your fingertips in the member forum.

XYPN Academy

XYPN Academy is an online coaching platform designed to help you run a successful business. In the XYPN Academy, you can find resources, templates, and online courses that cover the essentials you need to know to grow and run your firm. In addition, Academy hosts self-study CFP® Continuing Education courses to support you in meeting your CFP CE requirements. Here is what you will have access to:

• Live programs, workshops, and self-guided coaching courses organized by firm phase 
• Self-guided coaching courses organized by topic: Business Essentials, Compliance, Marketing, Sales, Financial Planning and Process
• Resource and Template libraries
• Self-Study CFP® Continuing Education Courses to maintain CFP certification
• XYPN Benchmarking Studies

Courses of note

For advisors that are thinking about or are currently expanding their firm, there are resources available that will be especially helpful:

Recruiting, Hiring, and Onboarding

Here you will find a curation of resources from within and outside of XYPN. In this course, you will have access to a step-by-step process that leads you through the hiring process from start to finish. This resource details all considerations and decisions you need to make prior to hiring, how to recruit (including job descriptions) and onboard, and how to best support and set your new employee up for success once they are a team member. 

Business and Continuity Planning

Contingency planning is an essential part of your business, and this course will help you get a plan in place.  Just as you would not neglect to tell your clients to get proper estate planning and insurance, you need to plan for short and long-term issues that could interrupt the daily rhythm of your business. We’ve created some resources you can use to tackle this. This course also includes information about family leave, disaster recovery, evacuation, and quarantine.

XYPN membership has a wealth of benefits to offer advisors at all stages of firm ownership. Although it is a common misconception that XYPN is positioned especially well to help new advisors, the Network is constantly evolving as we listen to members and ensure their needs are met. As a result, XYPN’s membership benefits are constantly expanding, just as they have been for over seven years. XYPN membership might be the catalyst for growing your firm you’ve been looking for. Want to talk through the ins and outs of membership? Schedule a call with me or with my fellow Network Navigator, Chris, to discover whether XYPN is the right fit for you and your business. 

About the Author

Aimee Arnaud is a big part of what drives the Network. As Business Development Specialist—AKA Network Navigator—here at XYPN, Aimee connects with advisors at all different stages of the firm ownership journey. She helps them navigate the Network and identify resources that will help them realize their dreams, serving as an invaluable guide. When Aimee’s not guiding advisors, she spends time with her beloved French bulldog, Ollie, and makes time to take in the splendor of Montana and all it offers.