The latest study on compensation within registered investment advisers has been released, so today, we’re providing an overview of the compensation measurement changes for three entry-level and early career positions: non-licensed support (e.g., customer service, receptionist, office admin), entry-level financial planners (paraplanners, associate advisors, planning analysts), and experienced CFP® Professional Financial Planners. Non-Licensed Support Based on the data from 2022, …
Becoming a B Corp
Back in March, we shared about our application to become a Certified B Corp. As of last week, we were excited to be confirmed as a Certified B Corporation, joining several thousand businesses around the world in placing the needs of our team, clients, and our community over pure profit as a legal foundation for MY Wealth Planners®. When we …
Applying to become a B Corp
Last week, MY Wealth Planners filed its first assessment and request for review to become a certified B Corporation. Unlike an S Corporation or C Corporation, B Corporation status is not a business structure or tax election. Rather, “B Corp” is a voluntary designation to make not just profit the purpose of the company, but to address governance, workers, community …
Surrendering the CDFA
In 2019, I completed the Certified Divorce Financial Analyst designation. The designation was created to help qualified financial planners better assist their clients in the divorce process, whether complementing a collaborative divorce or helping clients keep as much on their side of the scale as possible in the division of assets on an adversarial basis. The designation included four courses …
Important Security Updates for 2024
Before you read on, give this recording a listen. Did you give it a listen? Good, it was an important demonstration. For the skim readers, what I said was: Hey, it’s Dan. Here’s the good news: we’re living in the future, and it’s a place full of exciting possibilities. The bad news? This isn’t Dan. This is an AI duplicating …
Growing into 2024
A few months ago, at the outset of the transition to the new office in the Prospect Neighborhood, we mentioned the phases of MY Wealth Planners’ development. As we closed up the end of the second phase and looked to the third phase, we stated that we would begin to confirm MY Wealth Planners’ value proposition for its clients and …
On Gratitude and Coin Flips
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 …
Mergers & Acquisitions
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 …
Charles Schwab Transition
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, …
The Opening of the New Office!
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 …