Militarycareertransition public
[search 0]

Download the App!

show episodes
 
Two People. One Mission. To help active duty, guard, reserves, and military spouses make a successful career transition into the world of financial planning. Welcome to the Military to Financial Planner podcast with your hosts, Forrest Baumhover and Daniel Kopp. Join them as they share their unique perspectives and career transition advice, help you leverage your military experience, be intentional about each step of your career journey, and ultimately build the post-military life and career ...
 
Loading …
show series
 
Derek Merkler joins us today to talk about his career journey. After his initial 8 years in Army aviation, Derek started out in financial planning working for a firm where he cut his teeth in the profession. He realized that there aren’t many financial advisors who work primarily with veterans to put together comprehensive and holistic plans and bu…
 
In this episode, I’m chatting with my friend and colleague, Andi Wrenn. She has been involved at the intersection of personal finance and military life for many years now. Andi is an AFC as well as having a masters in marriage and family therapy that helps inform her work with clients. It might surprise you to know that Andi is a career changer hav…
 
I’m excited to welcome Adam Scherer on the podcast. He is a CFP and EA as well as having two masters degrees including in personal financial planning. In addition to running his own RIA, Adam has been a professor teaching CFP curriculum for many years. One of his primary current roles is as Vice President of Product Development and Innovation at Th…
 
I’m excited to welcome Adrienne Ross on the podcast. She is a CFP, ChFC, and AFC as well as the founder of Clear Insight Financial Planning based in Washington state. Adrienne shares her personal journey as a young military spouse discovering personal finance to de-mystify the whole process. As she learned she shared her knowledge with other milita…
 
Nancy Bleeke joins the podcast to talk all about the power of sales in one of my favorite recent conversations! While she’s always been entrepreneurial, finding a passion in sales was never the plan. Who would ever want to be “in sales”? she thought. Yet, she found her calling helping people who also never saw themselves in sales, succeed in sellin…
 
Today on the podcast we welcome Brian O’Neill; CFP, and founder of Winged Wealth Management and Financial Planning. Brian launched his firm in early 2021 after retiring from the Air Force with a specific focus on working with military pilots. Brian flew F-16s and F-35s while on active duty, served as Weapons School instructor, and commanded in vari…
 
Today on the podcast we welcome Stacy Livingstone-Hoyte; personal finance counselor, coach and founder of Financial Care Today. Over her financial life and career she’s had a variety of experiences including understanding money as an immigrant to the US, working in a variety of wirehouses, broker dealers, and insurance companies. There was a lot to…
 
This is the second part picking up from our last episode with Sean Gillespie of Redeployment Wealth Strategies so if you haven’t listened to that episode first, stop and go ahead to do that first. For everyone else, I love hearing Sean’s passion in this episode as he and Paul Allen decided to join forces, the evolution and growth in both clients an…
 
In this first part of a two-part episode, I am talking with Sean Gillespie who is the co-founder and partner at Redeployment Wealth Strategies, an RIA based in VA Beach that specializes in serving military families. In this episode Sean shares his journey how he in many ways stumbled into the profession of financial planning and what his early expe…
 
David Kakish is the President and CEO of RIA Workspace. He is an author, successful entrepreneur, and an advocate for better, more secure IT. It’s his belief that small and midsize Registered Investment Advisors and Financial Advisors are different than other businesses. He likes to think of these RIAs as the Small Giants in the financial services …
 
Rick Nail joins us on the podcast today to talk about the amazing scholarships for the military community from the American College of Financial Services Center for Military and Veteran Affairs. He shares about what the college is about, the history of the school, programs/certifications offered, etc. as well as diving into all the details of the s…
 
Michelle Petrowski joins us on the podcast to share about her journey as a career changer into financial planning, her work as a CFP and CDFA in the divorce space, the opportunities she had to help military families along the way, and what her firm is like now working with empowering women with both financial planning and life coaching. What I love…
 
Financial planning represents a classic kind of knowledge profession. As such, there is almost an infinite amount of information out there that you can continue to learn and grow to become better at your craft. Being constantly curious is a key skillset to succeed in this profession. I get asked frequently what are some of my favorite resources tha…
 
Listen in this interview as Daniel Yerger shares his career journey from PSYOPS Army life to career changer into financial planning, now owning his own firm, teaching investment planning, and pursuing his PhD. He also recently published a new book on career-changing into financial planning that is a must-read for learning about the nuances, challen…
 
MilMoneyCon is a new conference hosted by Lacey Langford for financial professionals united by military service. Our mission is to bring together service members, veterans, and military spouses to help build and progress their careers, continue their education, and grow their earning power as practicing or rising financial professionals. https://mi…
 
Conferences are like going TDY for training--you need to strive for a decent balance between enhancing your skill set and actually getting things done. We’ve all seen those people that are always TDY for different training, and not doing actual work. However, there are some great networking and learning opportunities at conferences if done wisely. …
 
Financial planning and tax preparation are ultimately two separate services that some planners decide to include in their offering while others outsource it or work with the clients’ tax preparers. There are pros and cons to both. In this episode, Forrest and Daniel share ways to think about it and how it might apply to your firm and career journey…
 
There are many career paths in financial planning but most are two versions of joining an existing firm or starting some version of your own. In this episode, Daniel and Forrest share more about how to think about both options for your career goals. Join our private community for listeners: https://tinyurl.com/2dr24bn6…
 
As with many aspects of military life, try to begin with the end in mind. You should be building and iterating a five year plan as you look ahead to a career in financial planning but also as you approach the various aspects of military life in the interim. Part of that is defining “enough” ahead of time so you ultimately build toward the life you …
 
Andrea Clark, CFP, joins us this episode to talk about her career journey as a military spouse, earning the AFC and CFP credentials, working as a base financial counselor, and ultimately launching her own financial planning firm. As a longtime military spouse and financial counselor for military families, Andie brings a wealth of knowledge and expe…
 
While this might be a later stage firm topic, begin with the end in mind. True financial planning is always in service of the client and what’s best for them. Sometimes, you will encounter situations where a client wants or needs “X” and for whatever reason, you don’t do “X.” A mismatch in communication is often the culprit here. Ultimately though,…
 
Good financial planning is a team sport. Don’t go it alone but instead be intentional about building a support network around you! That involves family and your partner as well as friends, colleagues, peers, mentors, and more. In this episode, Forrest and Daniel talk about navigating your professional networks and how to bring all of this together …
 
True financial planning goes beyond any one topic and holistic advice encompasses all aspects of financial health and wealth. In this episode, we talk about what that kind of planning looks like and how you can work to integrate all aspects in your work. Understand your competency and licenses so you don’t go beyond them. Ultimately, you must also …
 
Hannah Moore joins us on the podcast to share about FPA Externship, gaining early stage career experience, Amplified Core Planning, her career journey, and so much more! Hannah is a Certified Financial Planner™ and Certified Financial Transitions™ expert. She is the owner of Guiding Wealth, host of the podcast You’re A Financial Planner, Now What, he…
 
There are 2 ways for candidates to fulfill the experience requirement for CFP® certification: the 6,000 Hour Standard Pathway or the 4,000 Hour Apprenticeship Pathway. You can earn qualifying experience in a number of ways, from engaging with clients directly to supporting the financial planning process to teaching financial planning-related course…
 
Coaching vs advice? Why is this distinction so important? In a word--regulation. Anyone can give financial advice, for free (you get what you pay for). Once you hold yourself out as a coach, advisor, counselor, or any other position for which you receive compensation, then you need to be mindful of what advice you’re giving, and whether you’re prop…
 
Understanding health insurance for your own/family situation is great practice for real financial planning -- you can add MASSIVE value to your clients in this area. Even though this is different from Tricare, it’s also not as much of a black box as you might otherwise think once you start to understand how it all works. Even if you are a military …
 
Startup costs for your own RIA are one of the most frequent questions we’ve gotten from listeners so in this episode we tackle that important question. Funding your startup doesn’t have to be that intimidating so long as you have a good plan to address it. In this episode, listen on as Daniel and Forrest share their valuable lessons learned, their …
 
BLUF (Bottom Line Up Front): Over the long run, your practice will reflect you. However, at the beginning, it will be very hard to ‘niche’ your practice because profitability is initially a revenue problem. Over time, you may have more flexibility to make intentional decisions that will shape your practice. Main question: Do you want to be an ER do…
 
Sales is the lifeblood starting out in most financial planning careers. For many people, this can feel clunky, forced, or like a used car experience when in fact it should be quite the opposite of that. Focus on a collaborative process and make your fees and process clear. Listen on as Daniel and Forrest share their valuable lessons learned, what's…
 
The military offers a host of education benefits for servicemembers and spouses that can help make the career transition into financial planning easier. Forrest and Daniel share how they used these benefits and walk through lots of the options out there to help you too. https://www.theamericancollege.edu/military https://www.afcpe.org/news-and-publ…
 
Take time to build and grow your network - learn from key thought leaders on LinkedIn. This career leap should be about making and deepening relationships and connections. Here are some key thought leaders to follow: Caleb Brown; Michael Kitces; Alan Moore; Carl Richards; Matt Quick; Michael Quinn; Hannah Moore; Matthew Jarvis; Taylor Schulte; Alex…
 
Starting up in the financial planning space requires money, but how much? If you’re interested to learn about how to fund your startup costs and what specific expenses to plan for, this episode is for you. Daniel and Forrest both share specific examples from their own experience as well as their recommendations for Do’s and Don’ts. Every dollar in …
 
Picking a niche is an interesting topic and lots of reasons for and against. Forrest and Daniel talk about the pros and cons of each side of this question as well as delve into the mistakes they made or successes they built upon. Niche marketing can be valuable but picking the military isn’t the only way. Listen on as Daniel and Forrest share their…
 
Every military career transition faces challenges, but switching careers into financial planning can bring specific ones related to having a united home front. Starting over in a new career or launching out as an entrepreneur can be scary and quite different from military life. Ensuring your spouse is onboard with this transition is key to success.…
 
This is the single largest problem for any new advisor, whose expected role includes ‘business development.’ If you’re hired on as a second advisor at an RIA, or as a paraplanner, you may be expected to take on work that the current staff cannot handle However, most ‘job opportunities’ have an expectation of business development (it’s embedded in t…
 
Listen as Forrest and Daniel talk about the key differences between being an employee and owning your own business. Key differences between employee vs business ownership: Employees can expect an organizational framework, like the military. Business owners have to create their own. Employees have a job description. Business owners have to do everyt…
 
Listen as Forrest and Daniel share a little about each of our stories, and what we did while we were on active duty. You can do a lot. But training for combat isn’t really like actually being in combat. But you train anyway, because you’ll be a lot better off. Same principle applies here. Here are things you can do: Develop your plan (See episode 5…
 
How do I build a business plan? You’re not going to know everything out of the gate. But your ‘plan’ should involve the following steps: Determining whether this is an appropriate career for you. Education, Credentials Licensing (refer back to Episode 3) FPA Externship Identifying education needs Determining your military timeline: Home town? Last …
 
Industry rule of thumb for people opening their own shop: 3 years before you ‘feel traction.’ Year one: Sucks for everyone - a hard slog Year two: Gets a little better, but not really anything to ‘live on.’ Year three: You finally start feeling like you can make it. But you’re probably still reinvesting in your business. Have a plan where you don’t…
 
Credentials vs licensing vs. education: Each plays a different role Credentials--Help apparent credibility. You can stop at a certain point--no one really cares about your alphabet soup Licensing--What allows you to legally do business in a certain capacity. We stopped with our Series 65 licenses. Education--This will help you in your ability to he…
 
You might feel overwhelmed by all the choices out there in the profession. The key to finding the right tribe or profession for you is to ask the right questions. Those questions include: Where can I be mentored, so I can grow into the best version of myself? What opportunities exist in this profession if I work there? What will my role be, and wil…
 
Loading …

Quick Reference Guide

Copyright 2023 | Sitemap | Privacy Policy | Terms of Service
Google login Twitter login Classic login