Yes, You Can Find a Financial Planner Even if You’re Not Rich<br />The median age of XY advisers is 38, and it’s a refrain<br />that many of them sound, having come from other planning firms or related industries where the easiest way to make a living is to chase older clients with the most money.<br />Also, advisers have to be willing to work virtually if clients want to, which allows<br />people with particular niches to find their clients wherever they may live.<br />So it was refreshing to find out recently that a fledgling collection of financial planners,<br />the XY Planning Network, had grown to nearly 600 people in just under four years.<br />Together, Mr. Moore and Mr. Kitces cooked up XY (as in Generations) to provide a community<br />and infrastructure — including technology tools, investment resources and compliance assistance — for other advisers who wanted to work in this way.<br />If 80 clients pay $150 a month, XY advisers can earn gross revenues of $144,000, though XY charges member financial planners $409 per month.<br />Alan Moore was not the first financial planner to experiment with recurring billing,<br />but he was just stubborn enough, after he was fired from a previous financial planning job at 24, to think he could hang a shingle and make it work.<br />One percent of nothing is nothing.”<br />Mr. Kitces, who is 40 years old, is an industry octopus with 29 letters of credentials after his name who speaks at conferences, works as a partner at a financial planning firm, writes<br />and researches in quantity, and starts companies here and there.
