XYPN Live 2024: Elevating Our Practice to Better Serve Our Clients
At Mana, we pride ourselves on continually seeking opportunities to learn, grow, and refine our approach to client service. XYPN Live 2024 offered the perfect setting for this, bringing together forward-thinking financial advisors and thought leaders to share the latest trends, insights, and strategies in our industry. This year, we not only attended but had the honor of presenting our own talk on the unique challenges faced by the sandwich generation.
In this blog, we’re sharing highlights from three standout sessions that not only resonated with us but also align with our mission to serve our clients in the most thoughtful and personalized way possible.
1. Navigating the Complexities of the Sandwich Generation
We presented a session focused on the unique challenges faced by the sandwich generation—those tasked with caring for aging parents while also raising children. This group, representing 23% of U.S. adults, is only growing as life expectancies increase and adult children delay moving out or starting their own families. For these clients, financial planning extends beyond typical strategies, requiring a deeper level of understanding, empathy, and long-term foresight.
Our talk highlighted several real-life case studies that showcased the emotional and financial complexities of this demographic. For example, we shared the story of a client who needed to manage both their parent’s long-term care and their child’s educational expenses. In cases like these, it’s not just about managing assets—it’s about managing emotions, expectations, and relationships.
To better serve sandwich generation clients, we’ve developed a multi-step approach starting with deeper listening. By focusing on clients’ life stories and values, we can uncover hidden stressors that could impact their financial decisions. We also discussed the importance of building a trusted network of professionals, such as eldercare specialists and estate attorneys, to ensure clients have access to resources when they need them most.
Finally, we emphasized that being an advisor for the sandwich generation means becoming indispensable. As more of our clients find themselves in caregiving roles, we need to be more than just financial guides—we need to be their central resource, helping them navigate every challenge, financial or otherwise, with confidence and compassion.
2. Rebecca Conner’s Masterclass on Tax Planning for Mid-Career Professionals
The session led by Rebecca Conner was another highlight of XYPN Live 2024. Focused on tax planning for W-2 employees, this talk built upon Rebecca’s extensive expertise in tax optimization strategies for mid-career professionals. One of the most valuable aspects of her presentation was the practical, hands-on advice for reviewing clients’ tax returns to identify overlooked opportunities, such as contributions to Health Savings Accounts (HSAs) or untapped strategies like the backdoor Roth IRA.
Rebecca’s method for uncovering missed opportunities in clients’ tax situations was eye-opening. She emphasized the importance of digging deeper into every tax return, especially for clients who receive stock compensation or other non-wage income, such as rental or side business revenue. For example, she explained how to use past tax returns to spot patterns or inconsistencies that could indicate future tax liabilities or missed deductions. These insights are invaluable in our practice as we continually strive to maximize tax efficiency for our clients.
Another important theme was financial independence and how tax strategies evolve as clients move toward retirement. Rebecca discussed strategies such as Roth conversions, which can be particularly beneficial for clients in lower tax brackets. At Mana, this focus on long-term tax planning aligns perfectly with our philosophy of helping clients not just grow their wealth, but also protect it in the most tax-efficient way possible.
3. Britton Gregory on Customizing Services for Tech Professionals
Britton Gregory’s session was an inspiring deep dive into how to serve the unique needs of tech professionals. At Seaborn Financial, Britton has built a service model from the ground up, specifically tailored to tech clients who often bring complex compensation structures and unique financial planning needs. One key takeaway from his talk was the importance of radical transparency and data-driven financial planning.
Tech clients, as Britton explained, tend to want detailed information and prefer direct, numbers-focused communication. They’re often uninterested in the traditional “soft skills” of financial planning. Instead, they value clear, actionable insights that align with their analytical mindset. This insight was invaluable for us as we continue to refine our approach for clients in tech and other specialized industries.
Britton’s service model offers a blend of flat-fee planning and percentage-based investment management, allowing his firm to remain both profitable and client-focused. By providing flexibility in pricing and service options, he’s able to attract a niche client base that values transparency and control over their financial future. For us at Mana, this session reinforced the importance of customizing our approach to fit each client’s unique needs and preferences.
The Takeaways: Bringing XYPN Live Insights Back to Mana
Attending XYPN Live 2024 reaffirmed many of the principles we hold dear at Mana. Whether it’s guiding the sandwich generation through multi-generational financial challenges, providing tailored tax planning for mid-career professionals, or refining our service models for clients in specialized industries like tech, the key theme across all sessions was the importance of customization and empathy in financial planning.
We left the conference inspired and equipped with new tools and strategies that will directly benefit our clients. As we continue to grow our practice, we remain committed to delivering personalized, high-quality financial advice that truly aligns with our clients’ values, goals, and unique circumstances. XYPN Live 2024 was an excellent reminder that while the financial industry is ever-evolving, the core of what we do—helping people live their best financial lives—remains the same.
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Stephanie Bucko and Cristina Livadary are fee-only financial planners based in Los Angeles, California. Stephanie is the Chief Investment Officer and Cristina is the Chief Executive Officer at Mana Financial Life Design (FLD). Mana FLD provides comprehensive financial planning and investment management services to help clients grow and protect their wealth throughout life’s journey. Mana FLD specializes in advising ambitious professionals who seek financial knowledge and want to implement creative budgeting, savings, proactive planning and powerful investment strategies. As fee-only fiduciaries and independent financial advisors, Stephanie and Cristina never receive commission of any kind. Stephanie and Cristina are legally bound by their certifications to provide unbiased and trustworthy financial advice.