"Benefits of Professional Diversity and Inclusion” with Kate Healy - Episode #07 of Mindset Mastery

In Episode #15 of NAPFA Nation, Steve Doster, a senior wealth advisor at Rowling & Associates in San Diego, and Michelle Wilson, an independent fiduciary advisor with Athens Impact Socially Responsible Investments in rural Ohio, talk with podcast host Marie Swift about the formation of NAPFA Pride, an affinity group for LGBTQ+ members. Each shares their involvement and goals for the group. The episode highlights upcoming events like a happy hour at the NAPFA conference for members interested in joining NAPFA Pride. Beyond conference gatherings, NAPFA Pride also organizes webinars and conversation circles. They are always looking for committee members and volunteers to organize events.

These two NAPFA Members also discuss their specialties in retirement planning, ESG investing, socially responsible investing, and supporting nontraditional families. Doster talks about his nomadic lifestyle living in an Airstream trailer to inspire clients to pursue their dreams without waiting. Wilson, who has even delivered a compelling TEDx talk on Money Scripts, talks about supporting nontraditional families and community initiatives that create a sense of purpose, including plans to open a nonprofit for credit counseling in the community.

In a nutshell, you’ll hear about:

• How Wilson and Doster focus on being ethical and inclusive in their work as financial planners and fiduciary advisors
• Why they embrace socially responsible investing, diversity, nontraditional families and community work
• What makes them “tick” outside of their financial planning work with clients and financial education efforts within their communities

Wilson believes you should live how you live, love who you love, and live out loud so others will know they are not alone – that that our lives can be a form of activism. Learn more at www.AthensImpact.com.

Doster’s personal goal is to spread the word that everyone can get conflict-free financial advice without being sold expensive products. His firm, like Wilson’s, offers fiduciary, fee-only financial advice and wealth management. Learn more at www.Rowling.com.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #14 of NAPFA Nation, David Flores Wilson, Managing Partner of fee-only wealth management and financial planning firm Sincerus Advisory, talks with podcast host Marie Swift about his experience representing his Guam in the 200-meter run at the 1996 Olympic Games in Atlanta, Georgia, and his involvement with the Lower East Side Girls Club and other non-profit organizations. To prepare for the Olympics, he took a gap year after high school, and split time between training in Australia and back in Guam with Coach Carl Cruz. He says he would not be where he is today without his family’s support, a great education, hard work, and a bit of luck/timing. He has a deep appreciation for the land and people that make the Chamorro culture so unique. Given his background, it’s no surprise that he enjoys traveling, reading, Brazilian Jiu-jitsu, yoga and snowboarding in his free time.

Wilson discusses his professional credentials, including being a CFA® (Chartered Financial Analyst) and CFP® (Certified Financial Planner) professional, as well as earning designations such as AEP (Accredited Estate Planner) and CEPA (Certified Exit Planning Advisor), and how he specializes in working with business owners and entrepreneurs, providing comprehensive financial planning services. He also works with Gen X and Gen Y clients who are still accumulating wealth, providing pro-active life event and transitions planning (college financial planning, marriage, real estate purchases and sudden wealth). In terms of philanthropy, he encourages clients to be pursue purpose and to be proactive when it comes to giving back.

In a nutshell, here’s what you’ll learn about:

• The collaborative approach that he and fellow Sincerus partner Dan Ryan took when merging their two independent financial planning firms 
• The commitment they have to building a firm that offers opportunities for the next generation
• Creating meaningful impact through financial planning 
• The pros and cons of using rating systems to evaluate charities and nonprofits based on one’s goals and passions 

A NAPFA Member since 2018, David Flores Wilson, CFA, CFP®, AEP®, CEPA, was named by Investopedia as one of the Top 100 Financial Advisors in 2019 and 2020. His financial guidance has appeared on CNBC, Yahoo! Finance, the New York Times, US News & World Report, Kiplinger, and InvestmentNews. He sits on the Board of Directors as Treasurer for the Lower East Side Girls Club, and is active with the Entrepreneur Organization Accelerator Program, Estate Planning Council of New York City, Advisors in Philanthropy (AiP), and the Exit Planning Institute. Learn more at www.SincerusAdv.com.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #13 of NAPFA Nation, Matt Iverson-Comelo Executive Director of the 501(c)(3) non-profit organization Advisers Give Back (AGB), and Lisa Niera, CFP®, a fee-only wealth advisor with Corient, talk with podcast host Marie Swift about giving back through pro bono financial planning. Launched in 2020, AGB’s scalable online platform matches pro bono clients with pro bono Certified Financial Planning (CFP®) professionals for ongoing, one-on-one advice that helps clients build wealth and achieve their financial goals. The program was developed with noted behavioral economist Dan Ariely.

They discuss pro bono financial planning, and the benefits of giving back professionally. Niera shares experiences that she has had working with pro bono clients through the AGB platform. Impact metrics are provided.

In a nutshell, here’s what you’ll learn:

• The story behind Advisers Give Back and the problems they are trying to solve
• Success stories from a pro bono planner and the response from her firm   
• How pro bono planning ties into DEI work   
• What's next for Advisers Give Back

AGB has partnered with NAPFA to scale pro bono financial planning. The two organizations are on a mission to improve access to pro bono financial planning. With the goal of addressing the racial and gender wealth gaps, as well as the economic hardship brought on by the pandemic and other economic realities, AGB partners with organizations to reach underserved individuals. To learn more, visit: https://AdvisersGiveBack.org

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #12 of NAPFA Nation, Dana Wilson, CEO of CHIP (Changing How Individuals Prosper) talks with podcast host Marie Swift about the benefits of building an inclusive workplace culture. CHIP is a B2B financial services marketplace that makes finding financial professionals of color easy. In this lively episode, they discuss the importance of cross mentorship and situational mentorship, emphasizing that mentorship doesn't always have to be formal. Wilson also highlights the significance of being open to feedback and being coachable in order to grow personally and professionally. The conversation shifts to CHIP’s partnership with NAPFA and their shared mission of supporting underrepresented professionals in the financial industry. They envision a future where diversity is embraced, wealth gaps are closed, and individuals feel empowered to define wealth on their own terms. Wilson a encourages listeners to get involved with CHIP by visiting their website or following them on social media platforms.

In a nutshell:

• Wilson shares her journey in the financial services industry and her passion for diversity, equity, inclusion, and belonging. She emphasizes the importance of mentorship, breaking barriers in the financial industry, redefining words for empowerment, expanding wealth for communities of color, and empowering future leaders.   
• Building relationships and having conversations are key to personal and professional growth. It's important to connect with people who may not look or dress like you and find common interests. Flipping words and redefining them can empower individuals and build confidence.
• Empowering future leaders and understanding the next generation's perspective is crucial. Cross-mentorship can be valuable, and it's important to offer feedback and learn from others. Feedback should not always be assumed as negative and can be an opportunity for growth.
• CHIP’s mission expands beyond education to include the human capital component and understanding wealth in the context of family. Individuals can get involved with CHIP by signing up, creating a profile, and following them on social media platforms.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #11 of NAPFA Nation, Zach Teutsch, managing partner at Values Added Financial, talks with podcast host Marie Swift about helping “progressives” build financial lives they feel good about. Established in 2017, his fiduciary financial planning and wealth management firm is passionate about supporting people who want to leverage their wealth to make an impact and live a joyful life.  

Setting the right goals and aligning those goals with one’s values, he says, is the equivalent of setting the GPS for one’s life. The principals and staff at Values Added Financial do not shy away from being real and are known for demonstrating their own diverse and progressive values in the world. This authenticity sets the stage for attracting remarkable and diverse clients and for working in a high-trust environment. 

The company also attracts and retains quality team members who share their values, freeing everyone to focus on more meaningful work and values/goals alignment. He is an active member of ACP (Alliance of Comprehensive Planners), XY Planning Network, and NAPFA (National Association of Personal Financial Advisors), three professional associations that provide methodologies, community, and resources for fiduciary financial planners. 

In a nutshell: 

• Values Added Financial focuses on helping clients align their values with their financial goals. The firm has experienced significant growth over the past six years and has a team of six dedicated fiduciary advisors. They have found success by being open about their “progressive” values and attracting like-minded clients.
• Teutsch explains the firm’s business model, which includes assets under management (AUM) plus a sliding scale financial planning fee (retainer), but acknowledges that there is no perfect pricing model.
• He believes in hiring based on “culture add” rather than just interpersonal fit and uses an interview process that uncovers emotional intelligence and reflects the actual work involved.
• Teutsch talks about reasons for doing advanced work in shareholder advocacy and socially responsible investing and says that being upfront about values liberates the advisory team and empowers them to work on issues they care about, such as racial injustice and social safety nets. He emphasizes the importance of building a team that represents diversity and brings new perspective.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #10 of NAPFA Nation, Irfan Bhabhrawala, Owner and Lead Financial Planner at Arbor Financial, talks with podcast host Marie Swift about his career transitions – from a university setting to technology and consulting roles, plus real estate investments, to ultimately becoming the owner of a fee-only financial planning firm based in Ann Arbor, Michigan.

Bhabhrawala is proud to be part of the fiduciary movement in financial planning, which prioritizes giving honest advice with minimal conflicts of interest. He shares:

• Why he decided to leave lucrative career endeavors in other fields to become a commission-free, retainer-based, tax-focused, comprehensive financial advisor   
• How he used his transferable skills in his now chosen field of holistic financial planning and investment management
• How he became the owner of the financial planning business versus just staying on with a financial planning firm in a more traditional, salaried role

In a nutshell:

• Bhabhrawala has been involved in financial planning for over 20 years and is passionate about understanding each client's unique situation. He joined Arbor Financial in 2014 and purchased the business in 2015. Prior to that, he had experience in mechanical engineering, real estate investment, management consulting, and university administration. The seed for his interest in financial planning was planted when he helped his parents with their finances and struggled to find a professional who aligned with his values of fee-only advice without commissions. He became interested in financial planning as a hobby and eventually took over Arbor Financial.     
• He is an active member of ACP (Alliance of Comprehensive Planners) and NAPFA (National Association of Personal Financial Advisors), which provide him with support, community, and resources for his practice. At Arbor Financial, Irfan focuses on holistic financial planning that includes tax preparation services since taxes are an important factor in clients' overall financial well-being.
• Bhabhrawala uses the ACP model for client compensation, focusing on factors like income and complexity. He prefers a flat rate annual fee and believes in being fair with fees.
• Real estate investments are discussed, with Bhabhrawala cautioning against too much risk, which could jeopardize an otherwise solid financial plan.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #09 of NAPFA Nation, Mark Berg, Founding Principal of Timothy Financial Counsel, Inc., talks with podcast host Marie Swift about a new type of firm and a new potential audience for financial advice that is awaiting the financial planning profession. Berg, the Founding Principal of Timothy Financial Counsel, Inc., has proven how this business model can work for both financial advisors and clients – and says that it’s only a matter of time before we see much faster adoption.

Berg shares key concepts from his book, A Matter of Time: Principles, Myths and Methods for the Hourly Financial Advisor, co-authored with Matthew Jackson, CFA®, including how financial advisors  can:

• Price, position, and deliver hourly advice
• Segment their client base and prospect for an entirely new clientele
• Develop a relationship-based approach and avoid a “transactional” mindset
• Harness the potential of time-tracking to create a stable foundation for growth

Key points: Berg explains why he chose the hourly model for his firm after receiving calls from clients who didn’t fit the traditional models. He discusses the myths surrounding hourly financial planning and how his firm serves clients at different complexity levels. Berg shares the challenges he faced in building trust and convincing clients about his commitment to the hourly model. The firm has grown from Berg, as a sole practitioner, to a larger firm with multiple advisors. Understanding how they built their team, their hiring process, and the role of partners can provide insights into their success and scalability.

Timothy Financial is a financial advisory firm that charges clients hourly for their services. They provide planning, advising, and second opinions to clients across different stages of life. Their value proposition includes validation, ideation, being a trusted thought partner, and serving as a family resource. The firm has experienced significant growth and now has 18 advisors on the team. The firm provides transparency in pricing and offers comprehensive financial planning rather than investment management alone. They assist clients with developing target asset allocations using low-cost ETFs and provide support during implementation.

They have built their reputation through networking, referrals from other advisors in the industry, and involvement with organizations like NAPFA (National Association of Personal Financial Advisors). Being part of a professional community like NAPFA has been instrumental in their success and they highly value the support and collaboration it provides.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #08 of NAPFA Nation, one of the founding members and first president of NAPFA, Gary Pittsford, talks with podcast host Marie Swift about his involvement with NAPFA over the past 40 years. He highlights the growth and influence of NAPFA in promoting fee-only financial advice and attracting clients who prefer a fiduciary standard. Pittsford also mentions the significant changes in technology and business models within the industry, and shares his transition from Castle Wealth Advisors, where he served as president and CEO for over 40 years, to assume the role of Chief Valuation Officer at Creative Planning, one of the largest industry leading Registered Investment Advisors (RIAs) in the country. Pittsford is glad to be a part of NAPFA’s 40th anniversary celebration and throughout the episode reflects on the growth and evolution of the financial planning profession.

Pittsford shares:

• How the concept of fee-only financial advising has evolved over the past 40 years 
• Challenges faced in the early stages of NAPFA’s formation   
• Benefits of working with a fiduciary and how that mitigates conflicts of interest    
• Career path ideas for those interested in the financial planning profession    
• Heartfelt thanks for all of the NAPFA pioneers and those who continue to carry the torch today

Key points: Consumers are, more and more, seeking independent financial advice from advisors who prioritize their needs rather than selling products. Pittsford provides tips for finding fee-only fiduciary advisors through organizations like NAPFA and emphasizes the importance of reducing expenses and risk for older individuals. Aspiring advisors are encouraged to join fee-only firms and consider this profession due to the ever-increasing demand for commission-free financial planning and investment services. He emphasizes how meaningful the work can be and the importance in helping clients with their finances. The financial planning profession is becoming more inclusive and diverse, with NAPFA leading the way in their diversity and inclusion initiatives.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #07 of NAPFA Nation, Glenn Frank, author of the popular book Your Encore: Retirement Planning Guide - How to Balance Time, Money and Joy, discusses the importance of brain chemicals in happiness and suggests a daily practice called the "smiling starfish" to increase happiness per dollar and hour. He also shares his four key takeaways on happiness: daily progress, pleasure within limits, pride in work, and purpose.

Frank shares:

• A decision matrix to help balance time, money, and happiness by categorizing activities as required or choice-based and whether they make you happy or not 
• Why intentional decision-making leads to better outcomes and greater overall happiness 
• How gratitude plays a role in having a great life 
• His concept of an encore – finding purpose after 50 instead of retiring – which he believes is crucial for successful retirement

Key points: Many people mistakenly believe they are helping their parents by doing everything for them, but it often leads to unfulfillment. Seeking advice from parents can be beneficial and even those with disabilities can contribute. There are resources available for people over 50, such as free websites, organizations, and books. Church groups are good at providing support, especially for the sandwich generation. The COVID crisis caused many people to retire earlier than planned, creating an opportunity for financial advisors to help them navigate this transition. Philanthropic giving decisions require careful consideration of time and money, as well as motivation and impact per dollar or hour. Communication of family values is key when involving children in charitable giving decisions. The balance between supporting family and giving to charity is a common dilemma that needs to be addressed based on individual circumstances. It is important to plan both finances and schedules in retirement and find fulfilling ways to spend time through volunteering or working part-time.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.

In Episode #06 of NAPFA Nation, Lydia Sheckels, CFP®, CLU®, ChFC®, of Wescott Financial Advisory Group, shares highlights from her career in financial services, including how she became fee-only financial planner, and why she decided to eventually join NAPFA and raise her hand for service/leadership roles within the fiduciary community that would come back to help her in unexpected ways. While she set out to simply be of service, the surprise to her was that she learned new things and became a better financial planning practitioner and leader within Wescott, the Registered Investment Advisor and wealth management firm that would eventually become her beloved career home base.

Sheckels shares:

• How participating in the fee-only community helped shape her career and created a profound sense of purpose
• How fellow NAPFA pioneers such as Michael Joyce, Judy Lau, and Marjorie Fox – among others – lead the charge in NAPFA’s early days
• Why she is so encouraged by the fiduciary movement and the growth of commission-free wealth management and financial planning firms nationwide
• How established firms can help the next generation of financial planners as they eagerly seek to join the fiduciary community

Key points: When Sheckles joined Wescott, it was “a tiny firm” and the term “fiduciary” was hardly used in financial planning circles. Today, Wescott is one of the larger wealth management firms in the fiduciary community and now the terms “fee-only” and “fiduciary” are used widely in financial planning circles, by personal financial journalists, and professors who are training up the next generation of financial planners, investment advisors, and wealth managers. In addition to the National Association of Personal Financial Advisors, the fiduciary standard is now the “mother standard” for an array of professional organizations such as Alliance of Comprehensive Planners, XY Planning Network, and the Garrett Planning Network. As NAPFA celebrates its 40th anniversary, this podcast with Sheckels is one you won’t want to miss.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org