XY Planning Network launches TAMP for young investors

Platform designed to serve its members' next-generation clients will incorporate robo-advice and socially responsible investing options

Aug 29, 2017 @ 1:42 pm

By Liz Skinner

The XY Planning Network created a technology platform for members to help them provide client service the way younger investors demand: digitally.

The turnkey financial planning platform unites online onboarding for clients and robo-adviser tools from RobustWealth with investment models that will include socially responsible investing choices, as well as two other investing paths.

"Most of the TAMPs out there are designed for advisers with a lot of AUM and who serve large investors," said Alan Moore, co-founder of the XY Planning Network. "We built a TAMP and investment platform specific for an XYPN adviser serving young investors."

The average XY Planning Network member has $3 million to $5 million in assets under management.

Pricing for the member-only platform begins at 35 basis points and decreases as members move beyond having $5 million in AUM. Firms that leave the network will be able to continue using the TAMP under ex-member pricing that hasn't been decided yet.

"It's meant to be an investment platform for those who want to make sure client dollars get invested, but they don't want to spend a lot of time on it, and want to make sure it goes to the right place," said Michael Kitces, partner and director of research at Pinnacle Advisory Group Inc. and co-founder of the XY Planning Network, which is holding its third annual conference in Dallas this week.

The fee-only group, formed to offer a comprehensive set of practice management resources to help mostly young advisers serving Generation X and Y clients run their businesses, has grown from an initial 31 members in 2014 to 489 today. The average age of members is 37.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

InvestmentNews celebrates diversity & inclusion in the financial advice business

Highlights of the Excellence in D&I Awards, showcasing the achievements of 26 individuals and firms that are moving the needle when it comes to diversity and inclusion.

Latest news & opinion

7 things advisers should do today to boost diversity and inclusion

Creating diversity and inclusion within financial advice firms is challenging, but these InvestmentNews Excellence in Diversity & Inclusion award winners have suggestions that firms can put into practice today

The midterm elections: What's at stake for financial advisers

A shift in control of the House could change the course of important issues, including the SEC advice rule, tax reform and retirement policies.

What to tell your clients after they've won the lottery

The current combined Mega Millions and Powerball jackpots are more than $850 million. What should you tell your clients if they have a winning ticket?

2019 Medicare premiums announced

Slight increase in Part B premium to $135.50 per month is in line with expectations.

7 ways states got tough with unregistered individuals and firms in 2017

Rise in digital currency frauds helped trigger a crackdown by state regulators.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print