Cady North, like most of our guests on the #XYPNRadio podcast, didn't begin her career as a financial planner. She was a political science major and became the leading expert on the Dodd-Frank bill as it was being written. After getting her MBA, she decided to make the leap into fee-only financial planning. She started her firm, North Financial Advisors, to bring independent and affordable financial advice to young professionals with an emphasis on women.
Cady launched her firm in December 2015. On today's show we talk about the ups and downs of starting a firm without previous financial planning experience. She also shares her experience from the first audit and we dig into her client growth in her first year and how she's locating new clients.
She has an awesome story that will resonate with other female planners looking to begin their own firms. Unfortunately, there aren't many firms that specifically focus on the financial needs of women. Cady is doing a wonderful job addressing that gap in the DC area.
New advisors will want to pay close attention to her fee structure, how she's able to secure speaking gigs that connect her with ideal clients, and what she has in the works to generate leads from her website.
Listen to the Full Interview:
What You'll Learn from This Episode:
- How Cady developed an interest in financial literacy at the age of 13.
- How time boxing helps her maintain a healthy balance between work and personal life.
- The pros and cons of getting an MBA for financial planners.
- The pros and cons of taking custody of client accounts.
- Why she avoided the common mistake of undercharging clients during her start-up phase.
- How she locates speaking engagements in order to speak to groups that contain her ideal clients.
Featured on the Show:
- Register for #XYPN17
- XYPN Radio VIP Community
- Connect with Cady: North Financial Advisors | Twitter | LinkedIn
- So You Want to be a Financial Planner by Nancy Jones
- The Opposite of Spoiled by Ron Lieber
- The Lean Startup by Eric Ries