When I started my financial planning practice, I was told by the regional director for Waddell & Reed that the 4-year survival rate on a financial planning practice was about 13%. Somehow, the math and probability of that number didn’t stick, and I went ahead and launched the practice. Today, I have a practice and live a lifestyle that I …
Hello everyone! This particular post is to read everyone in on timelines, expectations, and upcoming events over the next month or so. If you’re a client, please be sure to read through it in full! Schwabitrade Merger TD Ameritrade completes its merger with Charles Schwab over Labor Day weekend. We’ve already written about action items (or lack thereof) for you …
Well, folks, the time has come. After Charles Schwab began the acquisition of TD Ameritrade in 2019, it is finally consummating the acquisition over Labor Day weekend. The transition starts Friday night, September 1st, and is expected to be done by 5 am on Tuesday the 5th of September. If you’re not an investment management client of MY Wealth Planners, …
Hello everyone! We are excited to share the opening of our new office in the prospect neighborhood. We’re looking forward to meeting with you in our new space, and cannot wait to share the next step of the adventure with you! Today is also the first day of work for our new Wealth Planner Assistant, Emily Green. Emily has several …
A farewell guest post by our Associate Planner, Samantha Rauch. Over the past couple of years while working at MY Wealth Planners I have had the pleasure of experiencing what it means to be a financial planner. This is a role that goes beyond numbers and spreadsheets. It is a role that allows you to make a meaningful impact on …
We have gotten a huge number of applications for our financial planner assistant position and almost as many questions from our fellow financial planners: “How did you get so many people to apply to your financial planner assistant position?” Well, today we thought we’d share both the elements of the job posting and the elements of how we screen candidates …
As the old expression goes: “You can’t have your cake and eat it too.” Yet it seems there are cultures both among aspiring financial planners and financial planning firm owners that attempt just that. Students and career changers have casually shared with me time and time again that they’re looking for a position for two or three years that will …
Hello everyone! In the spirit of transparency and building in public, we’ve always made a best effort to share our own compensation and benefits model with you as our clients and community. It seems only fair as people who talk to our clients about their money that we talk about our own money. So, today I’m sharing our updated employee …
Every year, we as a country trot out an elderly statesman to give a grandiose State of the Union address at the pace of a DMV queue about the state of the country. The speech runs a sentence at a time, punctuated by intermittent cheering or boos by the respective political parties. The news covers the speech in detail, the …
A colleague of mine, a CPA by the name of Michael Pharris, has a framed piece of paper in his office. The header reads, “Hearn’s Laws”, written by Professor Hearn, an instructor when Michael was in undergrad studying accounting. While there are many good tidbits on the paper (“he who signs the other man’s form, takes care of the other …