Ep #383: Grow Your Firm Faster by Leveraging Your Former Career with Mike Zung, CFP®

Today I am thrilled to welcome Mike Zung, CFP®, founder of Java Wealth Planning, an RIA based in Kansas City, Missouri to XYPN Radio. Mike's path is a testament to the power of perseverance and strategic planning in the financial advising industry. His background in tech architecture influenced his approach to financial planning and led to his creation of Beautiful Financial Plan—a separate online storefront that offers advisors visually appealing plan templates.

Mike shares insights into his journey from launching his firm part-time while still working in software development, to eventually transitioning to a full-time role serving over 30 tech industry clients. He describes the considerations and challenges of balancing home life while changing careers. He emphasizes the importance of networking and how attending XYPN LIVE has shaped his career and created lasting connections in the industry that have sparked new ideas and strategies for his businesses.

Mike and I cover marketing strategies, successfully transitioning from project-based to ongoing planning, and how he defines value for his clients. This episode provides valuable wisdom for advisors who change careers and the opportunities that can be leveraged by leaning into their previous expertise and personality strengths.

We uncover the challenges and triumphs of Mike Zung's journey, underscoring the role of innovation and community in the ever-evolving landscape of financial advising. I am privileged to count Mike among XYPN’s valued members, and we're honored to feature his expertise on today's episode.

What You’ll Learn From this Episode:

●      Transitioning clients from project-based planning to an ongoing engagement

●      Designing and implementing a tier-based, flat-fee structure

●      How and when to raise fees for your clients while providing great value

●      Niching down your client base to match your ideal clients with your own values

●      The importance of attending in-person networking events and conferences such as XYPN Live

●      Using YouTube to create evergreen content that will continue to attract clients

●      Leveraging your personality strengths and career background to launch your own firm

●      The considerations and challenges of balancing home life while changing careers.