XY Planning Network is buzzing with more activity than ever. We're proud to provide a turnkey financial planning platform to nearly 120 independent and corporate firms.
But who are these fantastic financial advisors? We’d love to introduce you to some of XYPN members who are doing big things in the financial planning world. You can get to know them and their practices — and hear a bit about why they love being a member of the network.
In the past, we've put the spotlight on PJ Wallin Eric Roberge, and Andrew Novick. Today, we're shining the Member Spotlight on Patrick Quinn of Hat Tip Wealth Management.
Patrick is a Chicago-based, fee-only investment advisor who works with clients to design smart, effective financial strategies that align with their individual circumstances and goals. His typical clients are professionals in their 30s to 50s, and healthcare providers.
Patrick lives in the South Loop in Chicago with his wife and 4-year-old son. When he's not at work (and sometimes when he is), he loves talking about business, sports, history, and architecture.
XYPN: Can you tell us a little bit about your professional background?
PQ: After 20 plus years in banking and investment management, I recently started Hat Tip Wealth Management to do what I have always wanted to do: help individuals achieve their financial goals. I am excited to bring my experiences of investment management, comprehensive relationship management and know how to my clients.
I have a Bachelor of Science in Economics degree from Marquette University (Milwaukee) and an MBA from Lake Forest Graduate School, Lake Forest, IL.
XYPN: Why did you become a fee-only financial planner?
PQ: Honesty and transparency are essential elements of a business relationship. The fee-only model eliminates the uncertainties and confusion that clients face when they are working with a financial advisor. It creates a healthy bond between the advisor and the client in that the client knows exactly what they are paying for.
I provide comprehensive financial planning and investment management. I like to maintain flexibility with my clients and only work on things that are important for them.
XYPN: Can you describe your ideal client?
PQ: My ideal client is a Gen X professional that is excited about the future and can’t wait to work on achieving the next goal, which may be retirement planning, college funding, starting their own business or paying off their mortgage. I love working on these projects with them because once we put the plan in place and they see the results, they are one step closer to financial freedom.
XYPN: What's your favorite thing about working with Gen X?
PQ: My favorite part is their desire to achieve great things despite a lot of economic adversity. My generation is committed to living the life that they always imagined and they have adapted very well to substantial changes economically and socially.
XYPN: What are you most proud of accomplishing as a financial planner who works with Gen X?
PQ: I am most proud of my ability to deliver valuable insights to Gen X clients in terms of investment management and economic conditions. Gen X individuals have had to deal with two recessions, a changing job market, and the emergence of the internet and the complexities associated with each of these events has been challenging.
XYPN: If you could only give a few tidbits of financial advice to your clients, what would that advice be?
PQ: Hire an advisor who has taken a fiduciary oath to put your interests ahead of their own.
XYPN: Were you given any advice when you started your firm that still sticks with you?
PQ: Honesty, hard work, and doing what is right for the client are essential to be successful.