Improved technology stack, virtual assistant program, and community commitments headline enhancements
An advisor’s success isn’t solely reliant upon financial expertise. It also requires surrounding themselves and their business with quality programs, custom solutions, and community support to help it run effectively. XY Planning Network (XYPN), the leading financial planning platform for fee-for-service financial advisors, is excited to reveal a variety of upcoming improvements, including innovative technology solutions, a new virtual assistant offering, and community commitments for their 1,550-plus member advisors, beginning as early as next month.
“In recent years, there has been a growing clamor that advisory firms must merge and consolidate to achieve economies of scale in order to survive, but the success of more than 1,500 advisors at XYPN is revealing the opposite,” said XYPN Co-Founder and Executive Chairman Michael Kitces. “Instead, the reality is that having a centralized network provide key technology and services is creating a golden age for solo advisors and small practices. This structure enables them to obtain the benefits of size by plugging into a larger support system for what they need, while retaining all the economic and other benefits of independence.”
Through advisor surveys, XYPN has identified ways to improve technology services and extend new offerings for their members. Member feedback consistently shows advisors are looking for ways to run their firms more efficiently, maximize productivity, and simplify their day-to-day operations. Last year, XYPN launched a custom-built member dashboard that streamlines and optimizes an advisor’s experience with XYPN membership. Now, XYPN’s Tech Team is working to further connect and streamline efficiencies, with the goal of building the “power strip” that allows advisors to plug in and centralize their many services and software applications. In that spirit, XYPN’s member dashboard now has single sign-on with four key tech partners: RightCapital, SmartRIA, AdvicePay, and Wealthbox—with more in the works.
Member feedback also consistently shows advisors need to increase free time, not just to focus on tasks they enjoy that are within their expertise and that generate revenue, but also to achieve a better work/life balance. In early-to-mid 2022, XYPN will pilot a virtual assistant program with a handful of members. The unique, team-based approach will offer year-round coverage, including client meeting support, email management, administrative marketing support, investment operations, data entry, and more.
“Investing in our advisors’ quality of life is critical,” said Alan Moore, CEO and Co-Founder of XYPN. “If we can remove some of the pain points advisors are experiencing and empower them to run a business that they truly love—and that allows them to live their great lives—then we’ve accomplished what we set out to do.”
Moore continued, “We know our advisors provide excellent service to their clients. Our goal is to provide that same top-of-the-line service so they can focus on their passion for helping people plan for their future and give them the support and peace of mind they need to actually take time off from their businesses.”
Given the continued growth of XYPN, the company is also increasingly focused on protecting their top-rated benefit: the community. XYPN worked closely with Diversity, Equity, and Inclusion (DEI) practitioner and #XYPNLIVE pre-con presenter, Cindu Thomas-George, to expand their Anti-Harassment Policy, building upon the company’s original guidelines established in 2017.
“The very essence of XYPN relies upon a safeguarded and thriving community, which is at the core of XYPN membership. Our updated Anti-Harassment Policy is much more robust and ensures a safe space for all members, speaking to our commitment to establishing and sustaining an equitable and inclusive community,” explained Moore.
Today marks the start of XYPN’s annual conference, #XYPNLIVE, both virtually and in person in Denver, Colorado. For more information, please visit: https://live.xyplanningnetwork.com/