About Jiyao Xu, CFP®, CFA
I am a fee-only financial planner and co-founder of X and Y Advisors, Inc. To make high-quality financial planning services available and affordable to young Chinese professionals living in the United States, I established X and Y Advisors, Inc.
After one year of experience with KPMG China, I realized that corporate finance is not my interest. In 2012, I came to Los Angeles, California to join my beloved wife, Vivianna, and study Personal Financial Planning. While taking different courses at UCLA, I managed to pass the CFP® exam and all three levels of CFA programs, go through the real estate broker education program and then work for a local wealth management firm for several years. With what I have gone through, I understand the needs and concern of the young professionals living here.
From my professional experience serving high-net-worth individuals, I realize that there are so many financial planning strategies that could be applied and may even create relatively more value to young professionals. Therefore, I decided to establish X and Y Advisors, Inc. and share my knowledge to help more people and families.
The tax due date of the current year is in April of the following year. However, when it comes to tax planning, you should not wait until then. Tax planning is different than tax preparation which I covered in my previous blog post here. There are some tax planning opportunities you can only take advantage of before December 31. This week I will only cover individuals. Business owners will be covered in a different post.
We have covered Restricted Stock Units (RSUs) and Employee Stock Purchase Plans (ESPPs) before. This week I will talk about another type of stock compensation - Non-Qualified Stock Options (NSOs or NQSOs).
What does a financial planner do in your mind? Investment planning? Tax planning? Insurance planning? Retirement planning? Estate planning? Yes, those are some of the specific services a financial planner can offer. However, what are the real values a financial planner typically provides behind those services? This week I would like to share with you one of the best descriptions of the key value propositions that a good financial planner provides from Mitch Anthony. It articulates what you should expect from a good financial planner.
- Cross-border Planning
- Gen Y/Millennials
- Mandarin Speakers
- Tax Planning
Ways Advisor Charges
- Monthly Fee
- Flat Fee
- Assets Under Management
- Monthly Fee: $1,000+ Upfront plus $150+/month
- Flat Fee: $500+/ project
- AUM: .5%