4 MIN READ
Dear Financial Advisors,
You are doing important work right now. Your clients, community, and humankind need your expertise more than ever. Thank you for showing up (virtually, of course) and being a part of the solution.
Behind the scenes at XY Planning Network, the team continues to amaze me. Everyone has been sent home to work remotely, but you’d never know it. Good work is getting done quickly to help advisors help clients.
Our internal team communication channels are as active as ever with a steady stream of recommended resources to get us through this surreal time. Some are especially helpful for financial advisors, while others were shared to help all of us adjust to a new normal.
My wonderful marketing teammates agreed to let me have this space in our blog to share a roundup of resources that you and your clients may find helpful, sourced by your XYPN family.
(Members of XYPN: additional resources are available in our members-only forums. If there is anything else we can do to support you right now, please let your Member Experience Specialist know.)
Please take care of yourself. You are needed.
XYPN Director of Marketing
BB Webb is XYPN’s sales coach, but we’ve discovered she has another superpower: thoughtfulness. (Empathy is likely her sales secret.)
In addition to sending the team cheery flowers to lift spirits, BB recommended the following books by esteemed author Pema Chodron:
- When Things Fall Apart: Heart Advice for Difficult Times
- Comfortable with Uncertainty: 108 Teachings on Cultivating Fearlessness and Compassion
Some of our previously published blogs for advisors are recirculating in light of the current situation. Here are some relevant reads from our archives:
- How to Create a Continuity Plan for Your Financial Planning Firm by XYPN Director of Advisor Success Malcolm Thomas
- Disaster Preparedness: What Would Arlene Say? by XYPN Executive Coach Arlene Moss
- Managing Personal Productivity When Telecommuting From A Home Office by XYPN co-founder Michael Kitces on Nerd’s Eye View
- A Conversation Starter on Negative Rates and Yields by Mario Nardone & Eric Stein for XY Investment Solutions
Also, some brand new content from XYPN's co-founders:
- Our businesses have a chance to show real leadership by Alan Moore
- Self-Care And Self-Compassion In Times Of Financial Stress And Anxiety by Meghaan Lurtz with Team Kitces
Relaying Rational Overconfidence
In the latest episode of Kitces & Carl, XYPN co-founder Michael Kitces and financial advisor communication expert Carl Richards discuss the fears and doubts advisors may feel during this time, and how the practice of rational overconfidence can help advisors be the confident leaders their clients need.
- Kitces & Carl Ep 30: Conveying Rational Overconfidence in Talking to Clients About Coronavirus Fears
Links to Bookmark
The experts at XY Tax Solutions are very closely monitoring changes to the 2020 tax return season. Managing Director Michael Law recommends keeping tabs on the latest here:
- State-by-state COVID-19 tax return relief from AICPA
On a very different note, Honor Randall, a friend from AdvicePay, shared a website that helps you throw together a decent meal with whatever random ingredients you still have on hand. Simply enter what you have and get some recipe inspiration.
- FridgeToTable even allows you to specify dietary restrictions such as vegan or paleo.
For Our “Future Planners”
Although our littlest people are mostly faring well with coronavirus, they are most definitely feeling the effects of closed schools and daycares, and of having stressed parents. Sara Frye cares for our children at XYPN’s in-office daycare. She found and shared this children’s book PDF:
XYPN Webmaster Katie DeMars shared a couple of worthwhile options to occupy schoolchildren stuck at home:
- Scholastic offers free online courses as schools across the country shut down due to coronavirus
Meanwhile, my 14-year-old daughter is spending her time video chatting with friends. No judgment from us. We are all doing the best we can, friends!
Lisa Asher, Managing Director of XY Investment Solutions, has a go-to resource for clients during volatile times:
- Guide to the Markets by JP Morgan
Ron Lieber and Tara Siegel Bernard from The New York Times get it. They published a "hub for help" where folks can get straightforward information on how unemployment insurance works, how consumer lenders are helping, and ways to keep the lights on, among other info to stay afloat.
They were also kind enough to spread the word about XY Planning Network advisors offering pro bono services. If you aren’t able to offer financial planning on a volunteer basis during this hectic time, no worries; you may send folks in need to our Find An Advisor platform where they can search “Coronavirus Relief” for help.
Over at our consumer blog, you may find these articles worth a share:
- Reflections on a Fearful Market by Donavon Sanchez
- What Should You Keep In Your Digital Safe Deposit Box? by Jason Speciner
- Financial Triage—Dig Out and Find a Way Forward by Jennipher Lommen
Taking Care of Yourself
Members of our office wellness committee have been sharing recommendations for online fitness classes:
- Member Experience Specialist Sara Williams recommends Down Dog, a mobile yoga app that is currently free.
- Lindsey Harrington of Marketing & Sales likes Alo Yoga, an online platform with a 2-week free trial.
- Shannon Beck, another AdvicePay friend, recommends FitnessBlender on YouTube.
- Jason Brown from XY Tax Solutions, an accountant by day and CrossFit trainer by night, let us know about these training videos created by his gym family.
Our Director of Member Services, Maddy Roche, has been leading a 10-minute guided meditation each day for teammates and XYPN members. To incorporate meditation into your day on your own schedule, Maddy recommends:
Combat isolation with virtual parties like Lisa Asher. Not only is Lisa our Managing Director at XYIS, she is also our happy hour “hostess with the mostest.” She is making sure we all stay connected from afar by coordinating after-hours social gatherings via Zoom. She even found the entertainment:
On that note, please lean into your fellow advisors, and do it often. You may not feel you need the support, but someone surely needs you. On behalf of Team XYPN, thank you for looking out for one another. Be well, friends.
About the Author
As XYPN's Director of Marketing, Jennifer Mastrud is tasked with sharing the movement at XYPN. Her expertise is in branding, marketing, and public relations. She’s as passionate about the XYPN message as she is about innovating new ways to share it. Before joining XYPN, Jen accumulated several years of experience representing national brands in diverse sectors including technology, gaming, TV, and education. She’s based in Minnesota, but travels frequently to warm up.