John Fennig is the Co-Founder of KFA Private Wealth based out of McLean, VA, where they serve over 800 households with $700 million in AUM. He joins the show today to share how he got his start in the financial planning industry, as well as what eventually led to him starting his own firm.
Listen in as John opens up about his journey, including why he pursued the CFP and CPA designations, how he managed a large transition during a period of market and economic volatility, and the challenges he has faced while shifting the structure of his firm. You'll also hear about the valuation of his firm, why he turned down a generous offer for purchase, and his plans for the future of the firm.
What You'll Learn In Today's Episode:
- How John got started in the financial planning industry. (2:05)
- How he first got into a management position. (7:40)
- What it was like transitioning during a period of volatility. (10:15)
- Where John spends the majority of his day. (11:55)
- The steps to moving the firm from a silo firm to an ensemble firm. (16:55)
- The firm’s valuation and why John turned down an 8 figure offer. (20:30)
- What it takes to get hired at KFA. (26:20)
Ideas Worth Sharing:“I wear everything: CEO, COO, CIO, and advisor.” - John Fennig Click To Tweet “I got my CPA just as a fallback.” - John Fennig Click To Tweet “Where it gets messy is the equity - how do you chop that up?” - John Fennig Click To Tweet
Resources In Today's Episode:
In this roadmap, you'll be guided through the details of various stages of your financial planner career, including position descriptions, licensing, skill and experience level requirements, and compensation ranges.