Ep #136: Alan & Kitces Unhinged - Leveraging a TAMP to Grow Your Financial Planning Practice
January 24, 2018
Alan Moore and Michael Kitces join forces on this episode to address a topic that they have been getting a lot of questions about recently. They address the challenges that have been present when working with TAMPs and why they decided to launch XY Investment Solutions with the specific needs of XYPN members in mind.
Alan and Kitces explain in detail why people may want to use a TAMP and then also how to explain it to your clients. They cover how to put in the work to make a TAMP work best for your business, and emphasis is put on where you should focus your time and effort in order to provide the best value and service to your clients. The guys share insightful tips on how to sell this service to clients and even how you can work out the TAMP fees.
Listen to the Full Interview:
Want more from XYPN Radio? Become a VIP to access our private community!
What You'll Learn from This Episode:
- What a TAMP is and why they may be beneficial.
- The similarity between a broker dealer and a TAMP.
- Why XYPN decided to launch their own TAMP.
- How to get past the hurdle of not being the one actually implementing the investment plan.
- Why someone would want to use a TAMP in the first place.
- How to explain and sell TAMP services to your clients.
- How to charge TAMP fees.
Featured on the Show:
- Michael Kitces
- XY Investment Solutions
- Pinnacle Advisory Group
- Investment Advisers Act
- Vanguard
- Schwab
- Betterment
- Wealthfront
- TD Ameritrade
This Episode Sponsored By:
Support for today’s episode comes from Ruby Receptionists, the only live remote receptionist service dedicated to helping financial service professionals win more clients and build trust. From their studio in Portland, Oregon, Ruby's friendly, professional receptionists ensure exceptional client experiences by answering calls live in English or Spanish, transferring calls, taking messages, addressing common questions, collecting new client intake, making follow up call and more—just like an in-house receptionist, at a fraction of the cost. Let Ruby help you turn rings into relationships! For a special offer visit callruby.com/XYPN and use promocode XYPN Or call (844) 853-7829Share
- Financial Planning (197)
- Advisors (172)
- Financial Education (138)
- Fee-only advisor (136)
- Financial Planners (136)
- Millennials (116)
- NextGen (115)
- Advice (113)
- Marketing (93)
- Training (87)
- Professionals (86)
- Profit (85)
- Growing Your Firm (80)
- Entrepreneurship (77)
- Financial Advisors (76)
- Business Development (54)
- Niche (53)
- Advisor Success (45)
- RIA (44)
- Building Your Firm (42)
- Growth (34)
- Career Changers (31)
- Starting a Firm (28)
- Networking & Community (27)
- Staffing & HR (27)
- Family (23)
- Launching a firm (23)
- Social Responsibility (22)
- Compliance (21)
- Financial Plan (21)
- Preparing to Launch (18)
- Careers (16)
- CFP Certification (14)
- Online Marketing (14)
- First Year (12)
- Michael Kitces (12)
- New Business (12)
- Partnership (12)
- Scaling (12)
- Communication (11)
- Taxes (11)
- Women (10)
- Family Business (9)
- Assets Under Management (AUM) (8)
- Ethical Advisor (8)
- Perseverance (8)
- Broker-Dealers (7)
- Financial Therapy (7)
- Industry Trends & Insights (7)
- Preparing to Launch (7)
- RIA Operations (7)
- RIA Owner (7)
- Tax Preparation (7)
- Work Life Balance (7)
- Benchmarking Study (6)
- Business Coach (6)
- Hourly (6)
- Leadership & Vision (6)
- Small Business Owner (6)
- Student Loan Debt (6)
- College Planning (5)
- Discrimination (5)
- Female Financial Planners (5)
- Financial Independence (5)
- Investment Management (5)
- Leverage (5)
- Mergers (5)
- Passions (5)
- Technology (5)
- Business Owner (4)
- Challenges (4)
- Finances (4)
- Firm Ownership (4)
- Inspiration (4)
- Military Finance (4)
- Pricing Models (4)
- Retirement (4)
- Sales (4)
- Side Hustle (4)
- Support System (4)
- Virtual (4)
- Working Mom (4)
- Advice-Only Planning (3)
- Company (3)
- Data (3)
- Divorce (3)
- Evolving (3)
- Experience Wealth (3)
- Facebook Groups (3)
- Financial Management & Investment (3)
- Finding Success (3)
- Grief (3)
- Investing (3)
- Lessons (3)
- Management (3)
- Minorities (3)
- Monthly Retainer Model (3)
- Operations Manager (3)
- Philosophy (3)
- Recession (3)
- Reflection (3)
- Small Business (3)
- Spouse (3)
- Strategy (3)
- Succession Plans (3)
- Tech Stack (3)
- Time Management (3)
- Virtual Advisor (3)
- Wealth (3)
- Authenticity (2)
- Building Your Firm (2)
- Certified Divorce Financial Analyst (CDFA) (2)
- Changes (2)
- Charitable Donations (2)
- Check in (2)
- Conversations (2)
- Equity Compensation (2)
- Fiduciary (2)
- Firm Within a Firm (2)
- First Six Months (2)
- Healing (2)
- Homeschool Families (2)
- Impact Folio (2)
- Maddy Roche (2)
- Marriage (2)
- Meg Bartelt (2)
- Mental Health (2)
- Mindset Shift (2)
- Modern Money Advisor (2)
- Morgen Rochard (2)
- Outsourcing (2)
- Pandemic (2)
- Planning (2)
- Pricing (2)
- Processes (2)
- Public Relations (PR) (2)
- RIA Consultant (2)
- RIA Operations (2)
- Real Estate (2)
- Security (2)
- Selling Insurance (2)
- Solutions (2)
- Survey (2)
- Tech Professionals (2)
- Visionary and Integrator Roles (2)
- Automation (1)
- Behavior (1)
- Business (1)
- Care (1)
- Clarity Wealth Development (1)
- Client Acquisition (1)
- Consulting (1)
- Consumer Protection (1)
- Corporate Banking (1)
- Couples (1)
- Cryptocurrency (1)
- Delegating Tasks (1)
- Differentiation (1)
- Disability Accounts (1)
- Early Retirement (1)
- Economics (1)
- Educators (1)
- Effectiveness (1)
- Elements (1)
- Equally-Owned Firm (1)
- Events (1)
- Exchange-Traded Funds (ETF) (1)
- Finance for Parents (1)
- Financial Independence, Retire Early (FIRE) (1)
- Goals (1)
- Health Care (1)
- Heather Townsend (1)
- Hedge Fund (1)
- How to be a Financial Advisor (1)
- IRA (1)
- Impact (1)
- Impact Acceleration (1)
- Implementing (1)
- Independent Financial Advisor (1)
- Independent RIA (1)
- Insurance (1)
- Internal Revenue Service (1)
- Investment Planner (1)
- Investor (1)
- Kori Lennon (1)
- Listener survey (1)
- Loan forgiveness (1)
- Money Quotient (1)
- Motherhood (1)
- Motivation (1)
- Native American (1)
- Opportunities (1)
- Pro Bono (1)
- Progress Report (1)
- Progressives (1)
- Realtors (1)
- Reese Harper (1)
- Reg BI (1)
- Registered Life Planner (RLP) (1)
- Restricted growth (1)
- Retirees (1)
- Robo Advisors (1)
- Selling a Firm (1)
- Stigma (1)
- TAMP (1)
- Trader (1)
- Transparency (1)
- Trusts (1)
- XYPN Books (1)
- XYPN Invest (1)
Get episode alerts by email
You May Also Like
These Related Episodes