We’re excited to have XYPN member Wendy Marsden, owner of ProsperiTea Planning, out of Greenfield MA, on the show today. Wendy is currently in what XYPN calls the “scaling phase,” she has hit capacity to serve her clients on her own and is facing a whole slew of different challenges ranging from hiring to processes.
Today, Wendy talks to us about how she’s built two businesses, a robust tax planning firm and an RIA. She talks about the history of both businesses and how unlike other planners, she uses tax planning as a ramp down from her comprehensive planning. Wendy shares with us some of the mistakes she made and what she has mastered in her practice since starting out.
If you’re interested in what it’s like to hit the scaling phase, this show is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- An introduction of Wendy Marsden and how she started off moonlighting in taxes (00:02:54)
- Wendy’s failed business and what she has learned from it (00:09:00)
- How Wendy’s client relationships are a ramp down from comprehensive planning to tax planning, rather than the other way around (00:19:57)
- What niches Wendy specializes in, including gay marriage and deaths in the family (00:24:15)
- The challenges Wendy faces with scaling and the flywheel process she has developed to be successful (00:30:58)
- How being in the business for 20 years allows Wendy to make each season something specific for her firm/clients (00:39:18)
- What Wendy expects the future of the industry to look like and what will change (00:45:24)
- Book recommendations that are useful for anyone in the industry (00:49:58)
Featured on the Show:
- Wendy Marsden: Website | LinkedIn
- CERTIFIED FINANCIAL PLANNER™(CFP®)
- NAPFA (The National Association of Personal Financial Advisors
- CPA (Certified Public Accountant)
- #XYPNLIVE(ish) 2020
This Episode is Sponsored By:
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