Today's guest has found impressive success working with retirees and soon-to-be retirees in the oil and gas industry, and by employing a unique fee structure that he has found suits his niche. Michael Rahn is the founder of The Sum, a financial planning firm he has grown phenomenally fast, and now serves 21 ongoing clients with a $4,500 annual fee minimum.
In this episode, Michael shares why he decided to leave a large retail-focused firm—where he worked for over 10 years—to start his own RIA, as well as how he achieved such massive growth for his business. Listen in as he shares his best tips for growing a firm, his hiring plans for the future, and more.
Listen to the Full Interview:
What You'll Learn from This Episode:
- An overview of Michael’s career.
- Why he decided to start his own RIA.
- How he has grown his firm so quickly.
- His unique fee structure.
- What his hiring plans are for the future.
- The importance of writing things down.
- Advice Michael would give his younger self.
Featured on the Show:
- Micheal Rahn: Website | LinkedIn
- The Sum Fee Structure
- Woodlands Online
- Right Capital
- #XYPNLIVE Registration
- XYPN PAUSE: Business Strategy Program
- XYPN VIP Community
This Episode is Sponsored By:
Have you ever wished there was someone to handle the time-consuming tasks of researching, performing due diligence, monitoring, trading, and rebalancing your firm’s assets under management? Or someone to facilitate trading, rebalancing, reporting, billing, and invoicing for your firm? XY Investment Solutions, powered by XY Planning Network handles all that and more, leaving you free to focus on what you do best: serving your clients. Learn more about this turnkey asset management platform built for the next generation of financial planners at xyinvestmentsolutions.com.