Expert Roundtable: Tackling Compliance When Transitioning to an RIA

When life hands you limes, make margaritas. XYPN CEO & Co-Founder, Alan Moore, began his entrepreneurial journey in 2012 after he was fired from his job as a financial planner and decided to start his own firm. Equipped with an undergrad and M.S. in Family Financial Planning, an insatiable hunger for independence, and an uncanny motivation fueled by the word “no”, Alan was the shot-caller at his own financial planning firm, where he realized he could finally do things, well, a bit differently. By charging an affordable monthly fee for financial advice, Alan was able to reach a previously untapped segment of the market and profitably help younger clients who had income but not necessarily assets. Seeing the success of the subscription model and the desire many of his fellow advisors shared to work with a younger clientele, Alan quickly put his business-building smarts and experience to work dreaming up and eventually launching XY Planning Network (XYPN) with co-founder Michael Kitces. Today, XYPN is the leading financial planning platform dedicated to helping fee-for-service advisors start, run, and grow their own financial planning firms to serve next-gen clients. When he’s not starting companies, Alan lives openly as a self-proclaimed CrossFit junkie and dedicated snowboarder, a skill he is already passing along to his three young children.

XYPN Compliance Consultant, Terria Heng, has spent her career in financial regulatory compliance. She got her start as a compliance consultant at a boutique compliance firm located in Beverly Hills, CA, where she assisted breakaway brokers in transitioning from wirehouses to the independent RIA space. Prior to joining XYPN, Terria was a financial examiner at the Texas State Securities Board for six years. Terria has extensive knowledge in state compliance examinations, including effectively communicating with regulators, responding to regulatory inquiries, and best practices in practice management.

As XYPN's Director of Compliance, Travis Johnson leads the Compliance Team in the development and delivery of all of XYPN's compliance offerings and resources. Travis leverages his years of experience as a member of XYPN's Compliance Team, as well as prior experience building and running operations and compliance programs within RIAs to provide practical insights into the application of compliance rules, regulations, and industry best practices.

Chris Stanley is the Founding Principal of Beach Street Legal LLC, a law practice and compliance consultancy for investment advisers and financial planners. In this role, he provides legal advice and compliance counseling related to federal and state securities laws, SEC rules and regulations, RIA mergers & acquisitions, investment management compliance, RIA registration, and general corporate legal matters. Most recently he served as General Counsel for Loring Ward (now integrated into Buckingham Strategic Partners), a turnkey asset management provider headquartered in San Jose, California. He also previously served as Loring Ward's Chief Compliance Officer, as well as Chief Legal Officer and Chief Compliance Officer for the SA Funds – Investment Trust, a mutual fund family advised by Loring Ward. Chris received his J.D. and M.B.A. from Santa Clara University, and his B.A. from Boston College. He has also passed the FINRA Series 7 General Securities Representative and Series 24 General Securities Principal examinations, as well as the NASAA Series 66 examination. He is admitted to the State Bars of California, Missouri, and the District of Columbia.

Stephanie Sammons, CFP®, is the founder of Sammons Wealth Management and has more than 25 years of experience guiding clients to and through retirement. She specializes in working with midlife independent women, couples, and LGBTQ professionals who are in their prime earning years and who have an eye on retirement. Many of those clients have come to Stephanie when going through a transition such as retirement, a career change, midlife marriage/divorce, receiving an inheritance, or selling a business. Others simply wanted to work with a fiduciary financial advisor who shares their values. She guides her clients through a comprehensive planning process designed to help them clarify their retirement goals and move toward their ideal retirement lifestyle. Her mission? Help her clients create an achievable plan for their ideal retirement, align their financial actions and assets with their goals, and help them manage their wealth along life’s ever-changing journey.

Daniel Wrenne, CFP®, is the founder of Wrenne Financial Planning, a fee-only firm providing comprehensive financial planning for physicians and dentists. He loves helping people use their finances to live better lives. Ultimately, Daniel wants to live a life worth imitating and help others do the same. Above all, he values his faith in Christ and his family. Most of his spare time involves wrestling his boys, coaching soccer, and spending time with his wife. It should also be noted he has a pretty serious hot sauce obsession.