Ep 213: A Policy-Based Financial Planning Approach To Advising Clients Through Uncertainty with Dave Yeske

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 26 January 2021

⏱️ 106 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Yeske is the co-founder of Yeske Buie, an independent RIA based out of San Francisco that oversees $740 million of assets under management for more than 300 affluent clients. Dave has successfully blended together academic financial planning research with the practice of financial planning to culminate in an evidence- and policy-based financial planning approach that sets clients up with the confidence to handle any number of future scenarios with ease.

Listen in as Dave shares in detail how his firm applies evidence-based planning and how this approach helps to reduce client stress during market volatility. He will also discuss why it’s important to be ready to adapt to change instead of trying to predict the future, where his passion for academic research came from (and how he applies it to financial planning), and why he was motivated to create what may have been the very first financial planning client portal ever.

For show notes and more visit: https://www.kitces.com/213

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner,
0:08.5	speaker and consultant Michael Kitsis to hear stories of how leading financial advisors
0:13.6	navigated the inevitable challenges that arise on the path to success and get insight from
0:18.9	leading industry consultants about how to break through to the
0:22.1	next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.
0:29.2	Welcome to the 213th episode of the Financial Advisor Success Podcast. My guest on today's podcast is
0:35.7	Dave Yveski. Dave is the co-founder of Yeski, an independent
0:39.3	RIA based in San Francisco that oversees 740 million of assets under management for more than 300
0:45.8	affluent clients. What's unique about Dave, though, is the way he has blended together
0:50.7	academic financial planning research with the practice of financial planning,
0:55.2	culminating in a policy-based financial planning approach that frames financial planning not in terms
1:00.1	of the recommendations we make for specific client situations, but the policies we set with clients
1:05.7	to help them confidently handle any number of future scenarios that might arise.
1:10.7	In this episode, we talk in depth
1:12.7	about how Dave applies his policy-based financial planning approach at Yeske-Booey. The monthly
1:18.2	reports they generate for retired clients to help them see whether they're in their safe
1:22.0	spending policy guidelines. The quarterly tax reports they create to coordinate with their
1:26.7	clients as outside
1:27.5	accountants, the money quotient questionnaires they use on an annual basis to be certain that
1:32.0	they're covering all the bases with their clients, and how using a policy-based approach to
1:36.6	financial planning can help reduce client stress during turbulent markets.
1:41.3	We also talk about how Yeski-Bui structures its own approach to financial planning with clients.
	...

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