We strive to maintain the highest membership standards of any organization for financial advisors. 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: Members must specialize in working with Gen X and/or Gen Y clients – 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: Members must provide services on a virtual basis to clients. You do not need to exclusively work virtually, simply provide it as needed
- Monthly Retainer Service Model: Members must provide financial planning on a monthly retainer basis to clients. Members are welcome to offer services on an hourly, AUM, or flat-fee basis as well, however monthly retainer should be a core offering
- Certified Financial Planner® Professional: Members must have the CFP® designation to be listed on the Advisor Search tool.
- NAPFA: Members are required to join NAPFA within 12 months of joining XYPN
*Unfortunately, at this time we do not accept applications for advisors in the European Union.
- Available only to advisors with full-time residence outside of the United States
- Access to Find-an-Advisor portal with CFP® designation
- Access to member-exclusive forums, educational materials, and resources
Multi-Member Firm Membership:
- Two or more advisors at the same firm may save by applying for a Multi-Member Firm Membership
- Full benefits are available for each additional member added to one Standard Membership
Please note that all members must sign a fiduciary oath. Applicants are also expected to sign a compliance terms of service and an agreement regarding their fee-only transition; specifically, this agreement states that as an XYPN member, the advisor
- Must not sell any new products immediately as of joining
- Must eliminate all trails within 12 months
- Must not hold out as fee-only at any point, including during the 12-month period, while still receiving trails (and also acknowledges no member can be listed on the XYPN website while receiving any trails)
Finally, 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.
If you have questions, please schedule a call.