We’re excited to welcome our one-thousandth XYPN member, Luis Rosa, owner of Build a Better Financial Future, a fee-only firm in Las Vegas, Nevada on the show today. Due to the state of Nevada’s registration process, it took Luis 7 ½ months to launch his own firm and transition two dozen clients.
Listen as Luis talks about what it’s been like to make that transition while dealing with a global pandemic. Luis speaks to the underrepresentation that the financial planning industry has and he hypothesizes that as advisors continue to break out on their own and develop specific niches, this industry will continue to grow and reach more and more diverse populations. Although Luis feels he is only making a small impact, he has developed a podcast and service model to help make his firm more accessible to people without assets that need financial help. Luis also talks about what it’s like to be an entrepreneur running a firm as a solo-advisor, and how already, he feels the pressure to hire despite only being 6 months in.
If you’re interested in what it’s like to start your firm and transition clients during a global pandemic, this episode is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- How many clients Luis serves and how he works remotely (00:03:50)
- Luis’ journey to becoming a financial planner through networking and working two jobs (00:08:42)
- Why Luis flipped to fee-only financial planning after seeing a gap in his services and a need for advice (00:20:28)
- How financial planning is about building relationships rather than being a salesperson (00:24:39)
- What Luis explained to clients when he switched service models and how he articulated it in a way that didn’t throw his previous firm under the bus (00:26:44)
- Why Luis already feels the pressure to hire (00:33:35)
- When Mastermind/study groups and connections from #XYPNLIVE have helped Luis get advice from financial planners like himself (00:37:17)
- The intentionality of what CE programs Luis is utilizing and how he now participates in educational opportunities that can help his firm (00:46:16)
Featured on the Show:
- Luis Rosa: Website | LinkedIn | On My Way To Wealth
- CERTIFIED FINANCIAL PLANNER™(CFP®)
- NAPFA (The National Association of Personal Financial Advisors
- IRS Enrolled Agent
- CPA (Certified Public Accountant)
- #XYPNLIVE(ish) 2020
- #FASuccess Ep 012: Delivering Profitable Financial Planning To Millennials For A Monthly Retainer Fee With Sophia Bera
- XYPN Radio Ep #254: Lessons and Similarities of Past Market Downturns: Advice from Kenneth Klabunde
This Episode is Sponsored By:
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