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Hi, and welcome to the Longview. I'm Jeff Battack Chief Ratings Officer for Morningstar Research Services. And I'm Christine Ben's Director of Personal Finance for Morningstar.

Our guest on the podcast today is Alan Moore with Michael Kitsis, Alan co-founded XY Planning Network,

a support network for advisors looking to serve younger clients. He's also the CEO of AdvicePay, which is a compliant

payment processor for financial advisors. Alan has been recognized by investment news as a top 40

under 40 in financial planning by wealth management as one of the 10 to watch in 2015,

and was the first recipient of the NAFFA Young Professional Award in 2015.

He's a certified financial planner, and he is also the host of XYPN radio podcast.

Alan, welcome to the Longview.

Thank you so much. I'm excited to be here.

We're excited to have you.

One of the catalysts for starting XY planning network is that younger

clients don't have enough investment assets to qualify for advice from advisors who charge based

on assets under management, but such individuals often have high incomes. Can you talk about

why having clients pay a subscription fee makes sense in that context? Absolutely. You know, we started

XY Planning Network seven years ago, and at that time, there were really no advisors charging what we

would call fee for service. There were some hourly advisors, but really it was either, you know,

...