This week, we're hearing about the career of a financial advisor who started a firm from scratch and is now excited to share his experiences and insight with you. Scott Frank, the founder and owner of Stone Steps Financial, joins us to give a realistic look at what it takes to succeed in creating your own business.
Scott is one of our more active members in the XYPN community, and several other members suggested him as someone I needed to have on the show to tell his story. He started out in investment sales before moving to a wealth management firm. There, he spent eight years learning the ins and outs of running a financial planning firm.
One of the things I love about this interview is just how open and transparent Scott is about what the first year of opening a firm looks like. Scott shares hard numbers, including how much he made in his first year of business, how much he spent, and how much he's projecting for the upcoming year.
Still thinking about starting your firm, but feel uncertain as to what to expect? You don't want to miss what Scott has to say. We cover everything you could want to know about starting a successful firm from scratch.
Listen to the Full Interview:
What You'll Learn from This Episode:
- Scott's path to starting his firm.
- What a really strong web presence can do for you in your first year of business.
- How Scott knew he was ready to start his firm.
- How much you should realistically set aside for technology.
- The hard numbers from the earnings and expenses of a new financial planning firm.
- Scott’s goals for the next year.
Featured on the Show:
- Connect with Scott: Stone Steps Financial | Facebook | Twitter | LinkedIn
- XYPN Ep #38: Residency Programs in Financial Planning
- XYPN Ep #32: Monthly Retainers in a $1.5 Billion AUM Firm
- XYPN Ep #18: The Career of Brittney Castro – From $0 to $250k Revenue in 24 Months with No AUM
- NAPFA Conference
- Essentialism: The Disciplined Pursuit of Less by Greg McKeown
- Morningstar Advisor: Working for Gen Y by Kate Stalter
- Mary Beth Storjohann
- Orion Advisor
- TD Ameritrade
- Northwestern Mutual