Announcement
A New Chapter: WBI Advisory through XYPN Invest
The Evolution of Our Partnership
I am excited to announce the launch of WBI Advisory on XYPN Invest platform. XYPN Invest, an entity of XY Planning network, is a SEC registered RIA platform for fee-only financial planners to serve households with a fiduciary standard of care. XYPN platform supports advisors such as myself with an open technology-forward infrastructure, compliance, administrative and trade execution support that allows me to focus on our relationship. XY Planning Network has over 2000 advisors, impacts several thousand households daily with a reach across the nation. To know more about how XYPN Sapphire and I will work together, you can download this handout.
After a successful nearly 20 year corporate career, I was very intentional in pursuing my goal to positively impact people's lives by becoming a financial advisor. This allowed me to bring my technical skills around personal finance and investing, combined with my deep commitment to coaching and simplify complex topics to help you pursue your goals and aspirations.
Branding of my advisory services reflect my core belief that ‘wealth’ extends beyond mere money, and that our aspirations are achievable when pursued with intent. Hence the name WBI Advisory, WBI in short for Wealth by Intent.
This next step is again a carefully considered step that allows me to retain the flexibility and freedom to continue to find ways to enhance the value I deliver to you. I will continue to place emphasis on holistic financial planning, while also pursuing specialization in areas to ultimately expand my services adding value to you.
While I will have a new firm’s name and some elements of the support structure will change, my commitment to your financial success with you in focus remains my singular focus.
The Best News: Your Assets Stay at Charles Schwab,
I remain your advisor focused on you.
One of the most important aspects of this transition is continuity. Your accounts will remain at Charles Schwab & Co., Inc.
- No new account numbers.
- No changes to your Schwab Alliance login.
I remain your advisor, fully engaged in providing you the needed guidance for your financial wellness, constructing portfolios, selecting investments and implementing actions aligned with your needs.
As I have often stated in our conversations, the value of the financial advisor is in the relationship, having someone you are comfortable with to share your life goals and aspirations, one that understands your needs, financial habits and relying on that person to meet you where you are and assist with meeting your needs. I hope to have earned your trust and look forward to having you onboard in this new chapter of our relationship.
Working with XYPN, I have planned the next steps to make this change easy with little to no inconvenience to you. All you have to do is reply to this email confirming your intent to move.
Next Steps
Continuing to work with me requires a few minutes of your time.
- The Notification: Please send/reply to this email dave@wbiadvisory.com with your decision to continue to work with me as your advisor. We will initiate the necessary paperwork (Updated Agreements, fee schedule. Schwab LPOA form, letter to Right Capital) for your signature by Docusign.
- The Authorization: You’ll receive a secure DocuSign form (from XYPN Sapphire Support with my logo)
to sign off a new Agreement engaging WBI Advisory and me as your financial advisor.
an authorization form (LPOA) instructing Charles Schwab to "link" your existing accounts to WBI Advisory.
A letter to Right Capital to release your login credentials and transfer your financial plan input from Certified Financial Group to WBI advisory. - Once you sign it off, and a few days later, we can continue to work together like before. You can continue to reach me directly at my new phone number : 407 964 1493 (call or text).
If you have questions, you can start by reviewing the FAQ’s below. If you would rather have me talk this through with you, answer questions and help with your decision, connect with me.
Connect with me
If you have any questions about this transition or would like to talk things through, do not hesitate to reach out.
Phone: 407-964-1493
Email: dave@wbiadvisory.com or Setup a zoom meeting using the calender below.
Frequently Asked Questions
What’s Changing?
With this move to the WBI Advisory platform supported by XYPN Invest, you will have:
- A new number and email address to reach me
- Phone or Text - 407 964 1493
- Email dave@wbiadvisory.com
- Website - www.wbiadvisory.com
- You will be able to directly schedule virtual appointments with me on zoom. (I am initially launching as a virtual office).
- If you prefer meeting in person for more sensitive discussions, I will have access to a conference room, just let me know a couple of days in advance.
- XYPN’s RIA has a few different branding names, all of which are listed on the IAPD website, but you will potentially see 3 primary ones: XYPN Invest, XYPN Sapphire, and XY Investment Solutions, LLC (the formal, corporate entity name). Regardless, I am your advisor, they are providing the support structure for me as outlined in the handout above.
Accounts
Is my money moving to a different custodian?
No. Your assets remain exactly where they are: safe and secure at Charles Schwab. We are simply updating the authorization so that WBI Advisory can manage them.
Will my bank links, automated transfers or RMDs be interrupted?
Because account numbers are not changing, your bank links, your direct deposits, recurring transfers, and Required Minimum Distributions (RMDs) will not be impacted and will continue without any interruption.
Fees & Costs
How will my fees change?
Two primary changes with fees are -
- a reduction in fee for services to 1.4% for the first 0-500k tier, saving households upto $500 per year.
- Moving to billing in arrears on a monthly basis (i.e, after rendering services) instead of billing in advance using the same Average Daily Balance method, similar to most other financial accounts.
You will find the revised fee schedule outlined in the agreement presented to you for signature. On your Schwab statements, the "Management Fee" line item will now be paid through XYPN Invest to WBI Advisory.
Technology
Do I need a new Schwab login?
No. Your Schwab Alliance login (Schwab.com) stays the same. You will still see your official statements and tax documents there.
What is the "Wealth Dashboard"?
This will be your new, enhanced client portal built on Orion Advisor Portal. It "pulls" your data from Schwab and presents it in a cleaner, easier-to-read format, allowing you to track your investments and progress toward your goals. The new platform allows for improved integration with financial planning, tax planning and document sharing tools, streaming your interactions with me and your information.
Contacting Certified Financial Group
Do you have to contact Certified Financial Group?
No, you do not need to contact Certified Financial Group to notify your move. XYPN and I will handle the transfer once you sign the agreement and authorization.
Will you be contacted by the Certified Financial Group after you have signed the authorization to move?
Most likely. Always remember, you have the final decision to choose your financial advisory relationship.
They may also reach out to you to confirm that you requested the authorization to transfer to WBI advisory.
What is Certified Financial Group responsibly while you setup WBI Advisory?
Certified Financial Group is required to continue to service your accounts and therefore eligible to bill for the days until your signed authorization to move is processed (typically a few days). During this time, they may may have reached out to you and offered to connect you with one of the other advisors to continue the relationship with them.
When should I decide?
I have not had access to your accounts since April 2nd, when I resigned from Certified Financial Group. As soon as you decide and sign the new agreement, and ideally before April 17th, we can continue to stay on track with your financial journey. Additionally, it might also minimize debit and credit transactions and billing confusion (billing in advance by CFG).
What if I decide to stay with Certified Financial Group?
Someone from the Certified Financial Group most likely has reached out to you to inform you of my departure and offered to assign one of the other advisors to take over the relationship. As your advisor, your information was accessible only to me. Once they grant the new advisor access, you will most likely have to meet with them to get to know each other more and build a new relationship before the advisor can truly understand your needs.
I will understand your decision and be grateful for the opportunity to have assisted you in the last few years and wish you the very best.
Others Questions?
If you have any other questions about this transition, my door is always open.
Phone: 407-964-1493
Email: dave@wbiadvisory.com