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Hannah Basil promotes ACP on the CFP Board Candidate Open Forum, November 2017

  
Thanks Hannah for promoting ACP on the CFP Board Candidate Open Forum!

Starting a fee only firm
November 2017

Hello,

My name is Jamie Wiggins. I am completing an MBA in Personal Financial Planning April 2018 which will allow me to sit for the CFP exam. I have been trying to go the traditional route and get a job within financial planning and more specifically fee only financial planning but having some real challenges. I am wanting to work with younger clients. I have no real "work" experience related to the financial planning so it has been very difficult for me since the firms that are in my area seem to be wanting experienced professionals and experience with various technology platforms. I have 5 years of customer service experience and have worked for an insurance company so I have a strong understanding of insurance. I have been feeling I should hang out my own shingle and go get my series 65 license to register as an RIA. If I were to create a firm I feel I would be able to deliver much more value that way versus going the traditional route. I have been in contact with the XY Planning network which I really like their model for serving younger clients. I have connected with some CFP's in my area as well on a regular basis to build a network of experienced planners around me. My long term goal is to have my own firm so I just wanted to see at this stage in my life being married and wanting kids in the future I see delaying this inevitable of opening a firm as an uphill climb in the future due to these circumstances and I think that with my education, knowledge, and my own personal real world experience will give me enough of what I need to start helping others with their planning needs now so that I can build a client base sooner rather than later. Any advice would be greatly appreciated.
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Jamie Wiggins
Prospective Financial Planner
Canal Fulton, OH

Response:

Hi Jamie,

Congrats on considering this step. I work at Basil Financial Group, a fee-only RIA in Lincoln Square, Chicago, and our founder joined ACP as she transitioned her accounting practice to comprehensive financial planning 6 years ago. Lois followed the ACP success program and has grown the practice into a thriving fee-only firm with a consistent 2 month waiting list for new clients. We serve clients of all ages, with HENRY's, accumulators and some (not many) distributors.

The Alliance of Comprehensive Planners, is a turnkey solution for starting and growing your successful fee-only financial planning practice. ACP is tax focused and teaches advisors how to charge on the retainer model. We charge one flat fee that covers all of our services, and earn no commissions or sell any insurance. ACP has a success program that teaches you how to launch an RIA.

Lois and I cannot tell you have valuable ACP has been for the firm and our professional development. There is an investment to join and membership includes propriety planning tools that we use exclusively with clients.

I'm happy to answer any additional questions you have.
Congrats on considering this transition,
Hannah
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Hannah Basil, CFP (R)
Financial Planner
Basil Financial Group, LLC
Chicago IL
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