We strive to maintain the highest membership standards of any organization for financial advisors. Why are these membership standards important to us? Because providing financial planning to the next generation is the core of what we do. We believe everyone deserves professional financial advice, regardless of age or assets. A traditional AUM fee model won’t work for clients without assets, and they oftentimes need us most.
All of our members must meet the following standards to qualify for membership:
Standard XY Planning Network Membership
- Fee-Only: Members must operate on a fee-only basis. We follow the CFP Board’s definition of Fee-Only: “A certificant may describe his or her practice as “fee-only” if, and only if, all of the certificant’s compensation from all of his or her client work comes exclusively from the clients in the form of fixed, flat, hourly, percentage or performance-based fees.”
- Gen X/Gen Y Client Focus: Must have service offering specifically for Gen X/Gen Y. While you do not need to work exclusively with Gen X/Y clients, these clients must represent a specialty
- Financial Planning Centric: Financial planning must be at the core of your service offering to clients. Most of our advisors also offer investment management services, however financial planning is their primary service offering
- Provide Services Virtually As Needed: Members must be able to accommodate clients with mobility/accessibility considerations. Physical location should not limit one’s access to financial planning
- Fee-for-Service (Retainer, Subscription, Hourly, Flat-Fee offering): Must offer financial planning services to clients without requiring a certain asset level. Note: There is nothing wrong with offsetting planning fees with AUM
- Good standing with BrokerCheck: Each member is screened via BrokerCheck for approval into the Network. No member is approved if they have a regulatory fine, arbitration or settlement in excess of $10k. Please review this article for more information.
Note: CFP® designation is required to be listed in the Find-an-Advisor search tool
If you have questions about membership, please schedule a call with one of our Network Navigators.