Steven Fox, CFP®, founded his fee-only financial planning firm, Next Gen Financial Planning, in 2016. As a business owner, Steven has learned to serve a wide range of millennial clients. He practices on a unique model of wealth management that focuses on managing student loans, getting started with investing, making employee benefit selections, negotiating salaries, combining finances with a new spouse, and more financial planning topics that resonate with his millennial audience.
Steven uses a simple, flat-fee monthly retainer for financial planning with additional investment management (at no additional charge). Many millennial-facing advisors have walked away from the traditional AUM method of charging - and Steven is here to attest to the benefits of flat-fee financial planning.
In this episode, Steven is going to cover everything from the mindset shift that took place when he became a business owner, how he markets a millennial-facing practice, and what he values as a financial planner.
What You’ll Learn:
- What books to read as a new RIA owner
- How to market your millennial-facing RIA
- The difference between charging a flat-fee for financial planning, and how that looks in practice
- How to “sell” through honest communication
- How financial planning impacts younger clients
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