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Ep. 22 – Successfully Building a Financial Planning Practice Aligned to What Clients Want with Kate Holmes

In this episode, I talk to Kate Holmes from the United States.

Kate has an inspiring story and she is on a mission.

In 2013, Kate started one of the first completely virtual, fee-only, monthly retainer (no AUM) financial planning practices, Belmore Financial, in the US. As an advocate for evolving the financial planning profession, and being one of the first to create a new model for doing so, she quickly became featured in the media, is an InvestmentNews 40 Under 40 alumni and serves on CFP Board’s Women’s Initiative (WIN) Council.

We talk about:

  • Kate’s origin story
  • Is there really a link between financial planning and financial coaching or is it two diverging paths
  • All the signs Kate saw along the way that ultimately led to her starting her own practice and breaking away from her mom
  • How she designed and finally launched Belmore Financial from scratch (p.s. we get into the nuts and bolts!)
  • The problem with holistic financial planning
  • Being virtual, employing automation and technology, being lean, and keeping record in a virtual environment
  • Kate’s time at the Financial Planning Standards Board
  • Her new podcast, Innovating Advice, the only globally-focused show for financial advisers and financial planners
  • The future of financial planning in the next 5 to 10 years according to Kate

Listen to the episode:

Links related to the episode:

Check out “Virtual Coffee with Francois” on YouTube.

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