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Financial Planning > College Planning

XY Planning Unveils New Advisor Portal

By Jeff Berman

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XY Planning Network used its XYPN Live(ish) conference Monday to unveil the XY Portal, a new application that CEO Alan Moore said will help members be better financial planners and free up their time to focus on acquiring clients.

“Beta testing is going to be starting here at the end of the month,” he said during a media roundtable, in response to a ThinkAdvisor question. “The target goal is Nov. 7” and it’s then “going to be available to all members no later than Q1 of next year,” he noted.

Earlier, as part of a keynote during the first virtual version of its online conference, the group said in a demo video the Portal is “your entire XYPN membership in one place.”

XY Portal provides single sign-on to all members’ core technologies, regardless of the tech’s vendor, according to XYPN. Members will be able to use it to manage billing, download past invoices, add new accounts and explore XYPN member benefits, the group said.

“This has been something we have dreamed of for a long time,” Moore told viewers. “Everything’s going to live in one place,” and “there’s going to be a single place to go ask questions and get those answers,” he said.

XYPN is also “going to be building new tools and resources” for members and will add new “niche” products and services to the Portal, he added.

“We’re not trying to build the next” customer relationship management or financial planning software with the Portal, he stressed, noting XYPN already has partnerships for that. “What we’re really interested in is connecting the systems that you have” with workflows and efficiencies, so advisors can focus on client acquisition, he said.

“In the future, we may explore adding an Android/iOS application, but we’re currently focused on offering a stellar desktop and mobile web experience” for the online application, Taylor Deardorff, XYPN product owner, told ThinkAdvisor.

New Diversity Initiative

Meanwhile, as part of XYPN’s efforts to improve diversity, equity and inclusion, XYPN partnered with the nonprofit Association of African American Financial Advisors (AAAA), it announced during the keynote.

Membership in AAAA will be included in the XYPN membership fee, and XYPN will also be covering the cost of AAAA membership for 50 college students at historically black colleges and universities, Moore said. XYPN is hoping the initiative and its own internship program will attract more minorities to the sector, he noted.

The percentage of certified financial planners who are Black or Latino is only a “pitiful” 3.8%, and the percentage is “closely tied to household wealth” in the U.S., he said, noting about the same percentage of millionaires in the country are Black or Latino.

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Jeff Berman

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