[00:17] Tara Bansal: Welcome to Her Life, Her Practice, Her Way,

[00:21] a podcast for and about female financial advisors. Tara. I’m Tara Conti Bansal. I’ve been a financial planner and life coach for over 20 years,

[00:32] and I believe that when women thrive in this profession, we all win.

[00:37] This show is about sharing our journeys, our struggles, our breakthroughs, and the many ways we build a life and practice that feels true to us.

[00:48] And now I’m extending that mission. Beyond the podcast,

[00:52] I coach female advisors who want to grow a fulfilling practice and a beautiful life that they love.

[01:00] One filled with meaning, freedom, connection, and joy.

[01:04] Whether you’re just starting out, reinventing yourself, or dreaming of what’s next, you’re in the right place.

[01:11] Let’s build this together.

[01:13] Welcome.

[01:14] This is Tara Conti Bansal,

[01:17] and this is the podcast Her Life, Her Practice, Her Way.

[01:22] Today I am delighted to talk to Katherine Kubiak-Rizzone,

[01:28] and I got to know her through advisors for good,

[01:33] which I think the world of the people that are there.

[01:38] And she has impressed me from the very first second that I met her.

[01:44] I will.

[01:45] Well,

[01:46] Katherine, welcome. I’m. Like I said, I am delighted to have you here.

[01:51] Will you just start with telling us your story?

[01:55] I want to hear where you came from and how you got here.

[02:00] Kathryn Kubiak-Rizzone: Sure.

[02:01] Wow, that’s quite an introduction, Tara.

[02:04] Thank you. It’s a pleasure to be here.

[02:06] And yeah, I guess how I would describe it is I’m.

[02:11] I’m a mom, I’m a wife, I’m a small business owner and a financial planner.

[02:18] But that came about as I was a career changer. So this has been a journey I started. I grew up in Buffalo, New York,

[02:27] and met my wife in college. We were on the rowing team together.

[02:32] Tara Bansal: Oh, I didn’t know that. Where were you? Where did you guys go to school?

[02:35] Kathryn Kubiak-Rizzone: We went to ub. It’s called SUNY at Buffalo.

[02:39] Um, and both had not played. We had played soccer in high school and decided to focus on academics when we went to college and then missed the camaraderie of a.

[02:50] Of a sport and the physical activity and. And walked onto the team, each of us. She did it for a year more than I did. She started as a freshman and I came in as a sophomore.

[03:02] But, yeah, so that was serendipitous. And we’ve been together ever since. It’s been a long time.

[03:09] Tara Bansal: That’s a long time. That’s great. What did you study in college?

[03:13] Kathryn Kubiak-Rizzone: So I was interested. I was pre med, but I knew that if I changed my mind or you Know, wanted to pivot that I didn’t want a biology degree and end up in a lab.

[03:25] That wasn’t my style. So physical therapy was actually a bachelor’s degree at the time.

[03:31] And I said that was just such a perfect. I would get to, you know, work with patients and it would be a very direct kind of connection and stepping stone if I ever were to go on to med school.

[03:44] But. And then things changed. My wife was pre med and she continued.

[03:49] Well, you know, we had a couple different journeys together,

[03:53] but ultimately I decided I was fine to stick with physical therapy.

[03:58] And so that’s what I. That’s my first career was in pt.

[04:02] Not what you think of per se when you think of a physical therapist. The only setting I didn’t work in was like the traditional sports orthopedic kind of rehab that you might think of.

[04:15] I actually worked in a lot of nursing homes. I worked in hospitals, I worked with children. I did home health rehabilitation, people after strokes and all kinds of neurological conditions and other sorts of things.

[04:30] Tara Bansal: Did you enjoy it?

[04:32] Kathryn Kubiak-Rizzone: I did. There were a lot of aspects that I enjoyed. And I say it seems like a 180 to now be a financial planner. When I tell people the story, they’re like, wow, that’s a big change.

[04:43] But to be honest, the things that I loved about being a physical therapist are very, very similar to the things I love about being a financial planner.

[04:53] So I really enjoyed the teaching aspect. And even for a bit, I. I had a side gig. It was. I taught anatomy of physiology therapy school. So.

[05:04] And just connecting with people.

[05:06] There’s a lot of similarities to kind of your maintaining physical health, doing, you know, the things that we know are right for our, our physical health.

[05:16] And then there’s parallels to our financial health and just those types of behaviors and challenges.

[05:25] Yeah, interestingly, I.

[05:27] So it was a bachelor’s degree. And then soon into my career as a physical therapist, I was like, I knew I wanted to learn more, so I went back for a master’s,

[05:37] which turns out I probably just wanted more continuing on, like practical application. Not kind of research focused,

[05:44] but in the,

[05:46] in the coursework we would study,

[05:48] we would take classes around or like read research studies around. What’s the best exercise to help seniors in the nursing home? And the takeaway was always for me, I was like,

[06:01] there isn’t a best exercise. There is no such thing. The best is what you’ll do.

[06:07] And so I said, it doesn’t matter. We could study everything in the world, find the best things thing, and if if the senior in the nursing home doesn’t want to do it and won’t stick to it,

[06:17] then it’s not going to help them. And so what I ended up gravitating towards, I was at UNC Chapel Hill, Otar Heels,

[06:26] and they had a very strong public health program.

[06:30] So I ended up taking a lot of classes in public health.

[06:33] And there are things around stages of change.

[06:37] And those things are also very, very.

[06:40] Tara Bansal: Applicable to what we’re here doing now.

[06:43] Kathryn Kubiak-Rizzone: Y. Yeah. So it’s so funny that I kind of. What my thesis was on was on like self efficacy for exercise and various other components that like, it’s just, it’s been a full circle.

[06:54] Tara Bansal: Very much relate to full efficacy with your finances and being empowered. I mean, I should have started that.

[07:02] You have your own financial planning practice. You’re a fee only financial planner.

[07:08] And it’s called About Time Financial Planning. I love your tagline or your words of transparency,

[07:16] inclusion and empowerment. All three, I just think are amazing.

[07:23] I’m very much.

[07:24] Part of why I got into this is that I wanted women to feel comfortable and empowered with their finances and money. And so kind of,

[07:34] it’s huge.

[07:35] Kathryn Kubiak-Rizzone: I think we, you know, as women, we,

[07:39] you know, and other marginalized communities,

[07:41] like there are so many kind of systems that have not, you know,

[07:48] that have excluded us historically and to present day,

[07:53] you know, and. And then kind of layer on top of that just various systematic kind of cultural expectations around work in the home and things like that. And I just think there’s.

[08:07] Whether internalized or externalized, there’s a lot of barriers that people are fighting and at the same time a lot of strengths that we just need to tap into and help unleash and empower.

[08:20] And that’s what’s the most exciting thing, is to just kind of give that space for people to come into their power when it comes to their finances.

[08:30] And you know, there’s so many ways that I.

[08:35] I think our, our money kind of is the.

[08:40] Is how we live our values in the world and being able to kind of help people feel empowered around that and clarity around that and that they truly can make decisions grounded in what’s best for their lives and their communities.

[08:55] It’s just such a gift.

[08:57] Tara Bansal: It is. I agree.

[08:59] And yet I think often people say they have these values and then their money is not aligned with that for whatever reason. Do you have any like, theories or why that seems to happen?

[09:13] I mean, I. I feel like people who are aligned with their values and how they spend it feels so Much better.

[09:20] But I just. An observation from my side is that not always do people do that?

[09:26] Kathryn Kubiak-Rizzone: It’s interesting. That’s a good question to kind of ponder,

[09:30] I think, you know, I, I take people through various exercises and we do, you know, start with the big picture and I promise I tell them, I say we’re not going to spend all the time being up in the clouds like this, but I think just even giving a little bit of space to kind of articulating for yourself and speaking them to another person what truly matters for a fulfilling life.

[09:56] And you know, that’s first. Exactly right. So then however I said we’re also. I’m also very creative of being able to tie just about anything that we might, you know, if you really want this, like we can connect it back to a goal or value.

[10:10] So there’s lots of.

[10:12] But it’s, it’s doing it because that’s what is truly calling to you. Not because there’s a should, but from somewhere. Whether that’s your past or society or you know, some fad or something like that, whatever the media or friends or, or your background.

[10:29] The baggage that we bring are saying I should look at this. We kind of just push back a little and say where is that coming from?

[10:37] It is. Maybe it’s a true desire and maybe it’s coming from elsewhere.

[10:43] Tara Bansal: Yeah, I, I agree on that. Do you use money quotient or where did your exercises come from?

[10:51] Kathryn Kubiak-Rizzone: No.

[10:52] So I have been through the Kinder Evolve training. It’s the five day.

[11:01] I like having tools in the tool shed. But I’m not a jump on the bandwagon and think that one system is the be all end all for everyone.

[11:12] Tara Bansal: Well that goes back to what you just said, right? Like that there’s no one best way it’s customized for I think what is important to people and it’s what’s most important for them and will work.

[11:27] Kathryn Kubiak-Rizzone: Now I’m a little bit of a junkie when it comes to kind of like what is everything that exists out there and how might I apply it,

[11:34] you know, in various circumstances. But I find a lot of it is more to the just.

[11:40] It’s less about the tool, it’s less about the kinder three questions. What I took away from that training is it’s not at all the questions. Anybody can look those up.

[11:49] It is the presence that you create.

[11:52] It is the safe space and this vessel for truly tapping into what matters.

[11:59] And that is all an interrelational dynamic.

[12:03] And that’s another reason why I think That I see many, many women in this field excelling because it’s just. I was like, I’m not trying. Nobody told me how to interact with someone in this way.

[12:16] I’m just authentically connecting with you because I care about you as a person and want to hear,

[12:22] not because I have an ulterior agenda to address through these.

[12:27] Tara Bansal: Right. It’s not transactional. It’s really authentic of caring and curious and wanting.

[12:34] Yeah. What’s best for them.

[12:36] I agree.

[12:37] So going back where.

[12:41] Where did you grow up?

[12:43] What did you love to do when you were little?

[12:45] Kathryn Kubiak-Rizzone: Okay, this is. We’re taking it back, Tara.

[12:52] I was.

[12:54] I was very academic. That’s a nice way. You know, I was. I liked to read. I was good in school. School. I was very,

[13:02] you know, mathematically inclined and stuff like that. A very good student.

[13:06] But then I also enjoyed sports,

[13:09] like I said, playing soccer and then rowing in college. So, yeah, I always knew. I guess I don’t think anyone,

[13:17] you know, in my high school would be surprised if they were listening to this. To kind of like,

[13:21] I’ve kind of always had a drive. I was involved in lots of clubs and, you know, that I was that kind of go getter, if you will,

[13:29] the child.

[13:30] And.

[13:31] But I think it’s almost like I’ve always been looking for the.

[13:36] The way to kind of, you know, share my energies and passions with the world.

[13:41] So.

[13:43] The way. So when I was in physical therapy, I would often.

[13:47] I worked part time quite a bit when our kids were. Were young, and then I would also. I was involved in various advocacy efforts around educational equity and various other kind of passions that I had through that dynamic.

[14:04] And so I feel like I’ve always kind of had a number of things going on. Juggling a lot of balls. Right.

[14:11] And just kind of. Yeah, I would say that that theme persists from child to.

[14:17] Tara Bansal: Yeah. Tell us the story of how you switched from or made the pivot from physical therapy to becoming a financial planner.

[14:30] Kathryn Kubiak-Rizzone: So the.

[14:33] I took a good kind of look. I had been looking for a while. I think there was. I was happy enough doing what I was doing as a physical therapist, but it never quite grabbed me.

[14:45] I think I never quite felt the full use of my brain in that way.

[14:53] And so I considered a lot of different paths. And interestingly, also, ultimately, what I kind of realized, I. I thought back about all the jobs that I had had and the positions and I.

[15:03] I did. I. I kind of journaled, like, what were the things that I liked and didn’t like about the Physicians. And it was very helpful to kind of tease out themes and what other,

[15:12] you know, career paths would allow,

[15:15] you know, enough kind of flexibility for,

[15:18] you know, so my wife is a physician.

[15:20] Uh, there’s, you know, we have three children. It is. We need to have firemen. That is not, you know, 80 hours a week, things like that. But, you know, that would just check a lot of boxes.

[15:31] And before we could be legally married. And back in the day, when you would file taxes by getting the booklets and papers at the library, I’m that old to do it all by hand.

[15:46] And it was my own. Like, I’ve never used software to file. I would read through the publications to understand. I would go line by line and fill out our taxes, and I would do them four different ways because,

[16:01] wow, children.

[16:02] And when you’re not legally married, there’s all different possibilities of claims, the kids, who itemizes deductions. And this was years and years before I ever had financial planning on the radar.

[16:13] That’s just how it was a puzzle to solve. That’s how my brain worked. And I was like, this was great. So I have always done that. I have always kind of seen things in that way.

[16:24] And so that was when my wife and I would go, we did seek out some financial planners along our journey.

[16:31] And inevitably, I would ask a question,

[16:35] and they would either not be able to answer or not be interested in answering.

[16:41] The two examples that come to mind are, one,

[16:44] I was kind of asking, like, just like, where the. What the assumptions were. Like, where the outputs kind of came from.

[16:51] Because I was like, they hadn’t ever asked about our spending habits. And I was like, well, how do you. How do you know that this is the. You know, what does this number even mean?

[16:58] And they were kind of like, well, we just plug it into the computer and this is what it spits out. And I was like, wow, okay.

[17:04] You’re just like, it’s this black box, and you just can’t even explain to me where it comes from. So, okay.

[17:10] Tara Bansal: Yeah, okay.

[17:11] Kathryn Kubiak-Rizzone: And then another one. I think I just asked about a 529 plan, which isn’t. You would think it was aligned, but I think maybe because they weren’t paid to manage 529 plans, that wasn’t part of their value proposition anyway.

[17:26] So we would leave.

[17:27] Tara Bansal: Those were the people. Sorry to interrupt, but were the. The. The people you met with, were they financial planners or were they more like investment managers?

[17:35] Kathryn Kubiak-Rizzone: Because I think,

[17:36] yes, that was more of an investment manager. It was kind of like the,

[17:40] you know,

[17:40] my Dad’s guy kind of thing sort of, you know,

[17:44] that’s doing us a favor by we don’t have any money, but we’ll meet with you sort of thing.

[17:50] So that was the vibe that I was just like,

[17:53] you know, and we were. We didn’t not have any money. We just didn’t have their threshold of what, you know, they wanted,

[18:00] want or whatever. And we had a lot of questions. So every time we would leave those meetings, my wife would look over and she said, like, why don’t you just go do this?

[18:09] Tara Bansal: So she. She like thought that, yeah, she even seen the.

[18:13] Kathryn Kubiak-Rizzone: The possibility.

[18:14] So.

[18:16] So yeah, there are a lot of, you know, kind of possibilities. But this just. There’s so many aspects of this profession that I think work with for families.

[18:26] It’s certainly not easy to run a business. I didn’t enter that lightly.

[18:31] But to have the autonomy and flexibility and to be able to craft the practice that you want, work with the people you serve, I mean, that is just such a gift.

[18:44] And so,

[18:46] yeah, I just feel like I made it.

[18:49] Tara Bansal: Yeah. And that’s part of what I want to highlight with this podcast is like, with the title, like,

[18:55] you get to decide and you can design it, like, who do you really want to work with?

[19:01] How do you want it to look?

[19:03] So tell us more.

[19:05] When did you start,

[19:07] like,

[19:08] even once you made this decision?

[19:10] Kathryn Kubiak-Rizzone: Oh, this was also. I feel like it was just meant to be the way things all transpired.

[19:17] Tara Bansal: How old were you?

[19:19] Kathryn Kubiak-Rizzone: So I made the switch in basically at the very end of 2019.

[19:26] And wouldn’t you, if you recall what happened early in 2020?

[19:33] So. Right. I mean, it was, I think, January of 2020 when I enrolled in an online CFP course.

[19:41] And simultaneously I was able to find a virtual paraplanner position.

[19:47] I give a lot of credit. They. I had no experience on paper, they knew, but they liked the way I wrote. So for any of you that are kind of,

[19:56] you know,

[19:57] new or things out there, there are. It’s sometimes the very little things you that I find make the difference. You know, just responding to the email and other sorts of kind of table stakes in my eyes.

[20:12] But don’t take for granted just writing a cover letter or something like that.

[20:18] So anyway, I had secured both of those virtually.

[20:21] Tara Bansal: And where were you living at this time?

[20:23] Kathryn Kubiak-Rizzone: Yeah, I guess I haven’t told about our whole yet.

[20:26] Tara Bansal: Because you moved around a lot.

[20:28] Kathryn Kubiak-Rizzone: Yeah, I grew up in Buffalo,

[20:30] and then after college, my wife and I moved to North Carolina.

[20:36] We lived in the middle of the country in rural North Carolina first and then we moved to yet another rural place in North Carolina. But when we were both at UNC Chapel Hill.

[20:50] So that’s where she went to med school when I went to grad school.

[20:53] So we were in North Carolina in the Triangle region for seven years.

[20:57] And then she did her residency at Vanderbilt. So we moved to Nashville.

[21:03] Tara Bansal: Very nice.

[21:04] Kathryn Kubiak-Rizzone: An awesome, exciting place at the time.

[21:07] Never would have guessed that I would have ended up there. And it was amazing. And we met such a great community in both of those places. We were there for seven years and then family wasn’t.

[21:18] We were kind of 15 hours from either family. Some was in Florida, some was in north. In New York.

[21:24] And we decided that was just a lot of kind of driving for things. They weren’t following us. We liked the latitude, but they weren’t following us.

[21:33] I won’t say we saw exactly what was happening in the political climate, but that was not a factor in the kind of protections of New York when we were legally married.

[21:45] It was in New York before we had national rights. And so you know, we were just like, let’s, let’s go back.

[21:53] But we are an hour east of Buffalo in Rochester, New York.

[21:58] And so that’s where we’ve been now. It’s. I don’t know, I’ve heard. Have you heard of the seven year.

[22:03] Tara Bansal: Yeah, like the cycles of. Yeah, I, I have heard that it’s like the seven year itch or whatever. Like people often refer to the marriage but I think in just like,

[22:15] I don’t know, ready for change that you know, there’s a like flow or you know.

[22:22] Kathryn Kubiak-Rizzone: It surprised me when I heard that that interval doesn’t match with any, you know, many school. If you think about even K top, it’s like sets of four or undergrad or you know, like there’s a lot of fours but not where does the seven come from.

[22:37] And yet that is exactly what we ended up. We were seven, seven. And now we’ve been. Now we’re going on 10 up here.

[22:43] Okay. But anyway, yeah. So we’re in Rochester, New York and what were we? Eva asked.

[22:50] Tara Bansal: Well then doing like so early 2020, you’re, you’re signed up for, you know, CFP program and have a new paraplanner position, both remote.

[23:07] Kathryn Kubiak-Rizzone: I expected what I would do is just focus,

[23:10] really hammer out the CFP program in like nine months. Just full, you know, full time. I was, I was like, I want, I’m not working. I will just get it done.

[23:19] And then you know that I Felt like that’s what would give me credibility in the industry. I knew I had a lot of life knowledge and experience but there’s a lot to learn and you know.

[23:31] Tara Bansal: And did you have children at this point or not?

[23:35] Kathryn Kubiak-Rizzone: So yeah,

[23:36] we, so right now I guess I’m 45 and turn 46 this summer.

[23:43] We, our oldest is currently 17.

[23:47] We have a 14 year old and then a 7 year old.

[23:51] So quite,

[23:52] quite a lot.

[23:54] Tara Bansal: Yeah.

[23:56] Kathryn Kubiak-Rizzone: I was joking. Was it last year we were had this like learning to ride a bike and drive a car at the same time.

[24:04] At the same time when it was 6, 13 and 16.

[24:07] So lots and lots of fun milestones happening.

[24:13] So yeah, so it did not work out that I studied, you know, full time. Instead we had the shutdown. The kids were all home. Everyone we had also not. This was not a Covid puppy but we had just gotten a puppy before.

[24:28] Tara Bansal: COVID So you beat the rush.

[24:31] Kathryn Kubiak-Rizzone: Like okay, I’ll be working from home and study. I can train the puppy and take the, you know, they not full, full puppy. Like I not they were already house trained but young and we had a.

[24:43] So how old was our daughter at the time? 3.

[24:46] And so I’ll be in the house with yeah the, the puppy, the three children and me working from home. And then my wife,

[24:56] she’s not in inpatient medicine.

[24:59] She works in a clinic. But there was definitely the risk of maybe having to, you know, she was working the whole time kind of entering the hot zone.

[25:08] Tara Bansal: What kind of physician is she?

[25:10] Kathryn Kubiak-Rizzone: She is a sports med physician. So non operative, not an orthopedic surgeon but like any,

[25:17] both adults and children, athletes and you know, weekend warrior kind of thing or just general arthritis type thing. Any sort of musculoskeletal kind of condition.

[25:29] And but she ended up like,

[25:33] you know, for a little while we thought she might have to help triage some scariness if, if it ever we have had a big outburst or an outbreak or something like that, you know.

[25:45] So there was a lot of uncertain stress.

[25:48] That’s what I,

[25:49] I just like, I feel like we’re right around that anniversary. I’m seeing all the memories.

[25:53] Tara Bansal: Oh yeah. I mean five years ago exactly.

[25:57] Kathryn Kubiak-Rizzone: Believe what we all endured. So but I,

[26:00] I,

[26:01] I was prior to my career change I was working in nursing homes and there’s no way that I would have been able to continue that. Like I would have had to quit in order like with you can’t have a three year old at home full time and also have both of us be going out there.

[26:17] So I would have not been doing anything and instead I was laying the foundation. I still studied. I just did it on a slower, more normal trajectory and it didn’t really derail things too long.

[26:30] It took me about a year to complete the CFP coursework.

[26:34] Tara Bansal: That’s pretty amazing. I know with kids, homeschooling and all of that. And a little one like, yeah, sounds.

[26:44] Kathryn Kubiak-Rizzone: Like a lot walking because that’s with a puppy and a baby and just to kind of get out of the house. I think we met more neighbors during COVID like waving across the street to each other to get out.

[27:01] Tara Bansal: So you were working as a paraplanner. You passed the CFP exam then what?

[27:06] Kathryn Kubiak-Rizzone: Oh yes. So I was working as a paraplanner.

[27:10] Very behind the scenes. I would, I sat in on a couple meetings, but a lot of what I was doing was more organizational and that type of thing,

[27:19] so. And often even I was sometimes like categorizing transactions in the budget system,

[27:25] which I think is not a value add. The clients didn’t really appreciate, they didn’t have buy in.

[27:31] But I mean I’m very familiar. I’ve always tracked expenses. So I was like, yeah, I can do that. Then I moved to another position. Both of these were with fee only firms.

[27:40] I’ve only ever wanted to be a fee only planner. To me that’s just when I think of a financial planner or you know, when you hear the words financial advisor, financial plan.

[27:52] It’s someone who can advise or help plan for all aspects of your finances. And that was, I was, you know, exactly seeking. The type of relationship that we were looking for is like, you know, investments is a piece, but it’s a very small piece.

[28:07] And so anything, you know, that money touches, I wanted to be able to help and you know,

[28:13] thought partnering.

[28:15] Tara Bansal: So and I love that term thought partner. Like on your website, you use that a lot. And I just love that that it’s not once again that you have this magic bullet or formula or whatever that it’s about the client and what they want and to work with them as a partner instead of even like that you’re leading the way or telling them what to do.

[28:44] Kathryn Kubiak-Rizzone: There’s no, I mean there’s no way, one way to do money. Right.

[28:48] We just.

[28:50] And, and a lot of it is I say it’s trade offs and it’s exploring possibilities and it’s just having a second brain to help you think through, like what am I not thinking of?

[29:02] Or you know, and sometimes it’s often it’s validating and just kind of saying.

[29:08] Tara Bansal: Yes or giving permission or how we can make this work. Right. Like with these other trade offs or what’s more important.

[29:17] Kathryn Kubiak-Rizzone: I always, I say, you know, I’ll, I’ll run the numbers and I’ll tell you what it, what it says on paper is optimal, but what’s optimal is for your life. Back to the exercise.

[29:27] There is no best thing. It’s what works for your life in, in the here and now, so into the future. But yeah.

[29:36] Tara Bansal: All right, so you changed positions.

[29:39] Kathryn Kubiak-Rizzone: So then I changed positions. I was ready to be client facing.

[29:42] And I just knew if I given the opportunity that that would, that this is where I just wanted to be able to really dive in and help people. So I was able to get another position that was,

[29:54] you know, I guess like a associate financial advisor. I had not yet taken the exam. So this was after I completed the coursework and then started this position. Now full time, but I’ve always been.

[30:07] Tara Bansal: But still remote, completely remote.

[30:09] Kathryn Kubiak-Rizzone: So this was. This position was based in D.C. i was in Rochester. That’s another, I think, blessing is I’ve only ever done this career through a zoom, you know, lens.

[30:22] I’m sure it’s very different than being physically present with people, but I can feel people’s energy through the computer screen. It doesn’t in any way to me feel like a sacrifice in a way.

[30:35] You know, it’s. Instead, it’s beautiful that I get to work with people across the country from where we are. So,

[30:41] so many fortunate things that did come out of this. It’s crazy to me to realize.

[30:48] Tara Bansal: So when did you go on your own?

[30:50] Kathryn Kubiak-Rizzone: Yeah, so I worked at that other firm. So that’s where I passed the CFP exam and got the, you know, full experience hours.

[30:59] And I’ve. I wanted to. I think I always knew that I would go out on my own for a minute. I tried to say, well, maybe I would just be happy kind of working for someone else.

[31:10] And I had run a business. I didn’t tell you about this part in the history. I had run a business before in physical therapy. Also dabbled in personal training.

[31:22] And I had a small business where it was fitness classes for pregnant women and moms.

[31:29] Um, and so we. So yeah, so I had a personal training business. And then it kind of morphed into these prenatal postpartum fitness classes.

[31:36] So I knew I was like, I’m not just scratching an entrepreneurial itch that somehow thinks that’s the be all, end all. It was hard.

[31:44] It’s not, you know, I, I didn’t go into it lightly, but I think I just. I wanted to be able to help people in the way that I saw the vision that they,

[31:55] you know, deserves to be helped.

[31:57] And I think I’m just like, speaking to anyone who’s out there kind of as an employee, you know, making. Running things like you probably are more competent than you think you are,

[32:08] and just, you know,

[32:11] it’s certainly not a thing to just enter into lightly. I’ve had a lot of.

[32:16] Tara Bansal: No, but I also, for me,

[32:19] like, I wanted to do it my way, and I, I got frustrated when I felt like they weren’t doing it the way I wanted to do it. And,

[32:31] and depending on where you are and the amount of flexibility you have,

[32:36] I think that varies firm to firm and things like that. But,

[32:40] yeah, I,

[32:42] I wanted to be able to do it my own way. And I don’t know if that’s how you felt and that’s what ultimately.

[32:49] Kathryn Kubiak-Rizzone: Yeah, I’m sure. You know, I mean, I loved the interactions that I had with clients and it felt, you know,

[32:54] I think I would just say, oh, you know, my mind would go to, well, this is the way I would do it kind of thing. And I spent.

[33:02] I loved talking to other advisors, kind of what you’re doing, Tara, in this. But I would just, I love to kind of hear, well, how do you do it? Like, what’s your onboarding sequence like,

[33:13] your meetings? How do you, like, tell me what you do with people? You know, when it comes to cash flow or.

[33:19] Because it’s fascinating, no two firms, like, operate in the same way.

[33:23] Tara Bansal: It’s so true.

[33:24] Kathryn Kubiak-Rizzone: And I, I loved it,

[33:26] connecting with people on that way because you hear, like, their passions came out in the way that they, you know, designed their processes and things like that.

[33:35] So that was just,

[33:36] in the end that actually was. It ended up being helpful. In no way was I doing it. I was doing it because I liked to learn about this. But a lot of clients have come from other advisors and I think just,

[33:49] I feel so supported by this network that is,

[33:54] you know, very giving and supportive and happy to pay it forward and share what we know.

[33:59] Tara Bansal: And so how do you get or where do you get that networking and helpful support?

[34:06] Kathryn Kubiak-Rizzone: I’m in too many groups. So the XY Planning Network, NAPFA are the two kind of big.

[34:15] Tara Bansal: Yeah.

[34:16] Kathryn Kubiak-Rizzone: And then there are kind of offshoots of those where there’s like, little slack channels and discord groups for various,

[34:24] like, advisors for good, you know,

[34:26] specific topic areas potentially.

[34:30] And so I just, I think there’s areas that are, you know, I’m in some masterminds and just because I’ve connected with people,

[34:38] there’s always something to learn. And that was the, that was the threshold for me.

[34:42] I said I wouldn’t have felt comfortable jumping in for a little while. I wondered before everything went remote, before I actually was.

[34:54] Yeah, I guess before the pandemic, I had networked locally in Rochester with the handful. I say I think there were maybe 5 fee only financial planners in our area. They were all like solo shops,

[35:09] not looking to grow.

[35:10] And so I was like, oh man, if this is the type of work that I want to do for people,

[35:15] I might just have to go out and do it myself because there’s not a pathway.

[35:19] Tara Bansal: Yeah.

[35:20] Kathryn Kubiak-Rizzone: You know, and then pandemic opens things up.

[35:24] I can work anywhere.

[35:27] I was like, oh, and so that was super exciting. Shout out to Hannah Moore. And at the time it was the FPA externship. Now she runs it through Amplified Planning.

[35:36] But I also did that for two summers and that’s what really opened my eyes to, oh, this is. I’m not crazy. Like there. This is a model that’s quite popular in major metropolitan places around the country.

[35:51] And lots of people that had energy to kind of not just serve existing retirees or people with a certain level of wealth.

[35:59] But you know, I could create the model in the way that I want. It’s not, I’m not this visionary that is, you know, seeing things that haven’t been done before.

[36:09] Lots of number people are taking their approach.

[36:12] So that was also helpful to kind.

[36:15] Tara Bansal: Of realize how many masterminds are you part of?

[36:23] Kathryn Kubiak-Rizzone: Like I think three or four.

[36:26] Tara Bansal: Okay. And how often do most of them meet?

[36:30] Kathryn Kubiak-Rizzone: Most are once a month. One meets twice a month. But I say I can only usually come once a month.

[36:36] Tara Bansal: Of these other ones, are any of them more female focused? Because I’m in a female only financial planner.

[36:45] Kathryn Kubiak-Rizzone: Yeah, one of them. Not by design. It we just was created through like the XYP and Launcher group. But I they it’s all women.

[36:53] Tara Bansal: Okay, that’s nice.

[36:55] Kathryn Kubiak-Rizzone: Usually there’s one that’s RAM planners, which is for.

[37:01] It’s a very neat intersection of kind of movement driven folks, folks who are working in solidarity economy and like activists and things like that meets people in the financial planning world.

[37:18] And so some of them are like people who are interested in really shaking things up and trying to kind of come from that world into finance and others that are in finance looking to kind of incorporate so they Are there’s like,

[37:34] they challenge me because I’m,

[37:37] I, I,

[37:39] it’s helpful to kind of hear the extremes of, you know, where we are not as a country and as a society. And I don’t know that we will ever get there,

[37:48] but it’s the, the like, if you want to move the needle an inch, you kind of have to advocate, you know, way over at the end to kind of shift this behemoth.

[37:58] And so that’s,

[37:59] that’s always a helpful kind of group for me.

[38:03] Tara Bansal: So when did you register?

[38:07] Kathryn Kubiak-Rizzone: Yeah.

[38:07] Tara Bansal: You’re your own Ria, correct? Yeah.

[38:10] Kathryn Kubiak-Rizzone: So we are at.

[38:11] So I registered. New York was very quick.

[38:16] I was still working at the last term. I had given notice, but I planned to kind of finish off the end of 2023.

[38:25] But I was nervous about there being a gap. And so I said I kind of got everything ready so that I could launch. And then I figured there would take a while before I get approved.

[38:36] And so then I continue working and turns out New York registers people really fast.

[38:43] I heard that I was officially registered in September, but I wasn’t. I worked full time at the other firm until November 1st. Like, yeah, basically Halloween. And then, so,

[38:55] and then I stayed on part time to kind of help the transition. We had a very cordial,

[39:00] you know, working relationship. I still, you know, we still refer people back and forth and our friends in the industry.

[39:07] So that’s great.

[39:08] It’s wonderful.

[39:11] But then, so, yeah, so I officially think of my launch as being November 1st of 2023,

[39:18] which is nice because it’s just a couple months of Runway, and then I can kind of think of like, 2024 was my first year, real year.

[39:27] Tara Bansal: Yeah. How did you get clients and how did things get going for you?

[39:34] Kathryn Kubiak-Rizzone: This is another thing that is just miraculous to me. I put a ton of energy and my soul into the website, which is beautiful.

[39:44] Tara Bansal: And I just love so many parts of it. The colors, the language, the. You can tell there was a lot of thoughtfulness that went into your website.

[39:56] Kathryn Kubiak-Rizzone: I mean, before you have a firm, all you have is the intentionality around how you’re going to build it. Right. And I knew that a website is.

[40:03] Tara Bansal: It’S the how to communicate that.

[40:06] Kathryn Kubiak-Rizzone: Right. The only way to convey things to someone who’s never met me.

[40:09] So I specifically looked for a web designer outside the industry because again, a big kind of tenant is like not what you, not your traditional financial advisor. Right. And so needed to be modeled in the way that it manifested.

[40:26] I wanted to make sure it was accessible and so she really helped with the kind of colors,

[40:31] um, and that sort of thing. I probably wrote every word. Um, she got a framework going and then I was like, okay, that’s not my voice. And so I poured over because to me, it’s really important intentionality around what the words evoke in a feeling.

[40:50] So that I think has been a very helpful. I feel a lot of people that come feel like they already know me or, you know, are aligned in that way.

[41:01] I know that other kind of social media presence. I’ve heard a lot about content marketing and how that can do the same.

[41:07] And I had plans to do all of that and I haven’t because I’ve been busy.

[41:15] Yeah,

[41:16] I think the majority of.

[41:19] I did get a lot of referrals from other V. Only planners, which has just been such an honor.

[41:27] I also like to kind of do the same. I.

[41:31] It’s. It’s important to me to serve people that I know I’m going to serve well. And if I’m not right for them for whatever way part of this transparency is I said I’m not going to try to convince them that I’m right for them and I want to connect them with someone else.

[41:47] So I probably,

[41:49] you know, refer out and connect people.

[41:51] I won’t say as much, but there’s a good number of people that I have come to me and I have connected them with others because sometimes that.

[42:00] Tara Bansal: You just feel like you don’t. You’re not excited to work for them. I mean that to me, that. Or is it more like either complexity or a specialty that you don’t have?

[42:11] Kathryn Kubiak-Rizzone: I tried.

[42:12] So I.

[42:14] A toxic flaw would be that I want to help everyone.

[42:19] Know, however,

[42:21] that how you can be more efficient. If I know, like, sure, I could help you, but it’s not my,

[42:29] you know, typical kind of niche clientele.

[42:33] Then it’s going to take me twice as long as someone else. Someone else. And that’s not the best use of my time and it’s not the best use of your time or resources.

[42:43] So, you know, that’s why there’s. I. I’m only human. There’s only so many hours in the day and there’s only so many people that I can help. So. So as hard as it is initially, you know, I just.

[42:53] But it’s not like I’m not the only person that exists, you know, that’s. It’s this abundance mentality of there are lots of great people doing great things and if it’s not me, I’m more than Happy to connect you with someone else that is the right fit.

[43:09] Tara Bansal: So you have a network of people that you generally refer to. No, I.

[43:16] Kathryn Kubiak-Rizzone: I balk at the idea even of that. I was like, there’s not this like, oh, I send them to you. It’s not like this BNI group that I feel like I’m sending them to you because I expect you to send people to me.

[43:28] There is no that. In no way does it come from there. There’s not a referral network. It is that I know a lot of people in this industry and I understand what their areas of specialty are.

[43:38] And so I kind of go through my virtual Rolodex when I’m hearing you describe what you’re looking for.

[43:44] And if it’s not like really aligned with what my strengths are and skill sets are, then I’m going to connect you with these other people because that’s exactly, you know, they check those boxes.

[43:57] Tara Bansal: Who do you want to and love working with?

[44:02] Kathryn Kubiak-Rizzone: So I have a pretty big niche, but even in that, you know, I have a couple of different defined niche areas.

[44:12] What I would say.

[44:14] So the specific niche areas are physician families,

[44:18] small business owners and LGBTQ couples, basically because that’s our, that’s my lived experience.

[44:24] Tara Bansal: That’s your world. Yeah.

[44:25] Kathryn Kubiak-Rizzone: My wife is a physician. We’re an LGBTQ couple.

[44:28] But that’s just. I was like, there’s not a great way to kind of really. It’s where my kind of special sauces is in like high earning people in their,

[44:42] in the peak of their working years that are just kind of a lot of life is still hitting and the, the most fun is when they’re close enough that I can kind of show look you, you have options.

[44:55] Like when they really want to know how much longer might I have to be doing this is, you know, and we can kind of look and say the gift that I’ve given lots of people,

[45:06] the news that they guess what, you’re already financially independent and that you get to choose.

[45:12] That’s so wonderful.

[45:14] And I often say that when folks that I said, oh. And I know I can say this because it doesn’t. You’re not going to retire tomorrow because there’s an evolution.

[45:22] But I’m excited to learn that some people are really taking it to heart and taking steps in that direction. So those. That’s been wonderful news. So I feel like there’s a little bit of the earlier career kind of especially with physicians where life feels like it’s been put on hold for a long time and now it’s we want to buy a house and start a family and you know,

[45:46] it’s like. But we also feel like we’re playing catch up because there’s student loans or,

[45:50] you know, we haven’t been able to contribute to retirement. So that’s. I expected to be a little bit more there, but really it’s a little deeper into the career where I find now actually, no, it’s more colleges on the horizon and that’s the new kind of like motivator.

[46:06] Yeah, exactly. And just what is our future kind of looking like? So there’s a lot of tax complexity around high earners where it feels like a lot is going to taxes.

[46:18] So these are like the tangible kind of planning problems that I solve that I solve, if you will and then just, you know, good people that are,

[46:30] you know, want to live intentionally in the world and,

[46:36] you know, have gratitude for.

[46:38] I just like, I think I. To be able to help people that are helping others in their professions. I feel like I’m able to give you the gift of more like less burnout.

[46:51] You know, if that’s. I was like, if you can help more people, we can all kind of have this ripple greater effect.

[46:57] If you feel options and flexibility around what you’re doing and are choosing to continue as opposed to the money saying you’re chained to that X more years.

[47:10] Tara Bansal: Well, and that’s part of, part of why I’m doing this podcast is I think so many female financial advisors.

[47:20] Kathryn Kubiak-Rizzone: Are.

[47:20] Tara Bansal: Kind of burning the candle at both ends, trying to take care of their family, trying to work on their business,

[47:26] trying to keep their head above water and juggling all these things. Right. Like speaking from,

[47:33] you know, and, and that’s also sounds like who you work with or you’re like, you know, a little bit in the thick of it and what choices do you have and how can we help,

[47:43] you know, dial this down for enjoying more and still get what you want?

[47:49] Kathryn Kubiak-Rizzone: And I recognize sometimes the systems don’t. It’s like, well, I’d love to cut back to part time, but that’s not an option where I am. And so it’s helping to just explore outside the box sometimes of,

[48:02] you know, what that can look like for you.

[48:06] Tara Bansal: How quickly has your practice grown?

[48:09] Kathryn Kubiak-Rizzone: Very,

[48:10] very.

[48:11] Yeah.

[48:13] But I, I’m also a very systematic person. Like, I, I build systems by design. It helps me to stay organized if I feel myself thinking through it. It’s stressful to me to have to think through the same problem more than a handful of times.

[48:30] I want to have A checklist or something that says okay. It’s a different part of the brain to like analyze and solve problems than it is to just make sure you’re not forgetting something.

[48:42] So even my is. It took me, I don’t know why it took me so long to create a, like a toiletries packing list,

[48:50] like the defaults.

[48:53] So then it was just like, because you still have to find the travel toothpaste or like buy the new small size, you know, suntan lotion for the trip or whatever.

[49:03] But if you don’t have to also like remember it and make sure that you’re not forgetting it. So like the list is there, but now the.

[49:10] You’re separating out anyway. Yeah,

[49:13] but so I do. I’ve created a lot of systems that help to streamline,

[49:18] to help make sure that I feel on top. And that’s how I’ve been able, I think, to handle a faster volume of incoming clients and do a good job. You know, I care deeply about servicing how.

[49:34] Tara Bansal: How many hours a week. Yeah. And generally would you say you work?

[49:38] Kathryn Kubiak-Rizzone: My target,

[49:39] which I’ve definitely exceeded it a little bit, but where I kind of based everything was. My target was to work like 37 hours a week.

[49:50] I think it’s like 46 weeks a year.

[49:54] I multiply it out to be around 1700 hours a year because I still want to be able to go on the zoo field trip with our daughter and see the, the track meets with our sons after school and you know, take a walk with my wife during the day that she’s home,

[50:11] you know, doing work from home kind of thing or whatever that is.

[50:16] So that was important to me as I kind of made the switch to try to just,

[50:22] you know, not sacrifice the things that are most important by putting everything, you know, just um,

[50:30] yeah.

[50:32] Unbalancing my life in that way.

[50:35] Tara Bansal: What percentage of your clients are like recurring versus the one time plans?

[50:41] Kathryn Kubiak-Rizzone: Uh, about two thirds recurring.

[50:44] I mean, I guess right now I’m in a little bit. I’ve. I’ve. A lot of project clients have kind of graduated and just a few new ones are on. So maybe right now it’s a little more like three quarters are ongoing.

[50:54] But generally of the new folks that come in, roughly 2/3 are ongoing and one third are project.

[51:01] Tara Bansal: Okay, nice.

[51:02] Kathryn Kubiak-Rizzone: Yeah.

[51:04] Tara Bansal: What. What are you doing to build your business now?

[51:09] Kathryn Kubiak-Rizzone: So I still have done very little. It has been mostly organic and I think I.

[51:16] Tara Bansal: When you say organic, is that just referrals?

[51:19] Kathryn Kubiak-Rizzone: I guess, yeah.

[51:20] Tara Bansal: From. Yeah.

[51:20] Kathryn Kubiak-Rizzone: Clients or from,

[51:22] you know, from other planners and now it’s from clients.

[51:29] So I don’t know. Sometimes, I mean, I ask everyone. It’s a kind of a medley of where people come from. And I, I do want to, I know that it’s important to kind of curate your stream, you know, make sure that they’re, the people that are coming truly are a good fit.

[51:47] Otherwise it’s, you know, not, it’s a,

[51:49] a waste of their time and my time kind of thing. But I do feel like I still can connect them. It’s not,

[51:56] I’m happy to give people a half hour of my time to hear, you know, what they have and to connect them to the next best person for them.

[52:05] Tara Bansal: Is it just you in your practice right now?

[52:08] Kathryn Kubiak-Rizzone: It is just me.

[52:10] Tara Bansal: So no virtual assistant now.

[52:14] Kathryn Kubiak-Rizzone: I hired our teen boys this summer to do some data entry.

[52:20] Very, very. They work about one hour a week.

[52:23] But it was, and it’s probably things that I can ultimately automate through technology.

[52:31] But the hurdle to actually create that,

[52:35] that it didn’t break was bigger than just showing them how to enter certain things in.

[52:40] And I’m happy to,

[52:42] you know, contribute to their development in that way.

[52:46] And I will be hosting an intern this summer through the BLX internship program.

[52:54] So I,

[52:56] I’m not prepared to take them on. This is a purely, you know, finite kind of period of time.

[53:02] Probably the first. If I bring someone on board, it would be in the more administrative kind of client service side.

[53:10] I don’t know.

[53:12] This is,

[53:13] this is my big kind of existential question that I thought I would have a little bit more time in the business before it really hit. And I had to kind of truly ponder what I wanted this to look, you know, do well.

[53:29] Tara Bansal: That’s what that I wanted. Like, what do you want? Your, how big do you want your practice to get and what do you want it to look like?

[53:36] Kathryn Kubiak-Rizzone: I don’t know.

[53:38] Tara Bansal: Okay.

[53:38] Kathryn Kubiak-Rizzone: So when I grew as fast as I did, even over the summer, I thought, well, goodness, I either have to slow this down or I have to hire. And I thought, okay, you know, I just was kind of a little bit tunnel visioned into,

[53:49] I guess I’ll have to hire. And then I kind of put the brakes on and I was like, wait a minute. I want, you know, I’ve been intentional to start.

[53:55] I want to be intentional this whole time.

[53:58] I think where I, I only ever set out really I think to create a lifestyle practice and be how kids is to term coins it solo with help like virtual assistant.

[54:12] I will say when there’s something that feels bigger than me about the. The movement, if you will.

[54:21] And so that is what kind of made me wonder,

[54:25] you know, is this. This mission driven thing that I do?

[54:29] But I also am not sure if I want to.

[54:32] I love working with clients that. That still, it’s not. It hasn’t gotten old for me that, you know,

[54:39] and I don’t know if I want to step back from that and spend more time managing other people who are doing that work as opposed to keeping it. So I’m sure it will evolve over time, and I’m open to what that looks like.

[54:57] I recognize it would be.

[54:59] It’s probably more helpful to be going in the right direction from the start, but I still don’t know what that direction looks like.

[55:07] Tara Bansal: Oh, great. What do you love about your job?

[55:13] Kathryn Kubiak-Rizzone: It.

[55:15] Everything.

[55:15] I feel like,

[55:16] you know,

[55:17] it. I’m not.

[55:21] I think that being able to help people realize that they can do more, they have more options than they have is such a gift,

[55:30] you know, empowering them to live their best lives and,

[55:34] you know, lean deeper into whatever it is, whether it be their career, whether it be their families, whatever that looks like is just such an honor and a gift.

[55:44] And to also know that it’s,

[55:48] you know, fits within my lifestyle and I am able to,

[55:54] you know, kind of keep things in balance to whatever extent you.

[55:58] Tara Bansal: Yeah, you have control, like, you can make the decision. So.

[56:02] Kathryn Kubiak-Rizzone: Sure. Yeah, it’s very. It’s empowering in all ways.

[56:06] Tara Bansal: Anything that you really dislike or would love to get, you know, rid of.

[56:12] Kathryn Kubiak-Rizzone: I think that’s what’s so hard is I actually like. I like the operations piece, I like the planning piece. So there’s not anything the. The piece that I feel like. The.

[56:27] The thing that I don’t like is when I don’t feel good at something, when it’s like a newer, not a new.

[56:33] It’s more like, oh, this isn’t tested. Like, I have a new idea for how I would unroll this, and now we’re just like kind of trying it out. And then that feel is like, I want to feel like I’m giving, you know, the best version.

[56:47] So even just.

[56:49] I’ve warned the intern that’s coming along. I’m like,

[56:53] I want to have a whole system set up for you, and I don’t want you to feel like you have to help me build the ship as we sail it.

[57:01] And she’s like, it’s okay.

[57:03] Tara Bansal: What podcasts or books or, I don’t know, anything else. Just real quick like, that you would recommend.

[57:15] Kathryn Kubiak-Rizzone: I think Finance for the People by Paco de Leon is a really. Have you read it?

[57:23] Tara Bansal: No, but I feel like I’ve heard of it.

[57:26] Kathryn Kubiak-Rizzone: Yeah, it’s a little like, it’s a way for people. It’s very unassuming.

[57:32] It’s a queer woman of color that’s writing to a different audience than most of the people that I work with. But it’s like one of the chapters is like, yes, we’re all weird about money.

[57:40] It helps people tie in a little bit.

[57:43] You know, it’s not in any way academic or talked down to people. It’s just, you know, very.

[57:48] So I think it’s a very. I recommend that sometimes as a very accessible book for people to feel like an entry into,

[57:56] you know, my money. I wouldn’t say that it’s.

[58:00] Yeah, it’s not for everyone, but I think the themes are kind of transformed.

[58:05] Tara Bansal: Universal. Yeah.

[58:07] Kathryn Kubiak-Rizzone: And. Oh, my goodness. And activate your money. I bet you’ve heard that.

[58:12] Tara Bansal: I haven’t heard of that one.

[58:13] Kathryn Kubiak-Rizzone: I heard that one. That’s Janine Furpo.

[58:16] And for people that want to kind of align their values with their money,

[58:21] she talks and she gives some really specific,

[58:25] tangible ways in various asset classes, if you will, you know, including, like, banking. There’s websites that you can kind of see,

[58:33] you know.

[58:34] You know, are they. Is it investing in the community and that kind of thing? Because those are all intentional decisions that I think,

[58:40] you know, most people come thinking like, oh, I want to align my investments. And I was like, you know, we do that. And there’s lots of other ways I help people take a bigger picture and see many other ways that we can align our resources with our values as well.

[58:56] And I think that’s a helpful broader approach.

[59:00] Tara Bansal: Oh,

[59:01] wow.

[59:02] I mean,

[59:03] just.

[59:04] You are the reason your firm is growing so quickly, because I can just tell that you do a great job.

[59:13] And.

[59:14] And not just like,

[59:16] not just the number side. Like, I can tell you’re very detail oriented, very, you know, well informed and knowledgeable.

[59:24] And yet you talk about. Right, like, what getting to the people side and the really deeper reason for the money. And so that’s. That’s what I think all of us should be doing, you know, and I want people to know that that is okay and I think even better.

[59:44] Right. Like,

[59:45] one of my questions is how.

[59:48] How much do you feel like is like the softer side and value side versus, like, more the technical financial planning? Just.

[59:58] Kathryn Kubiak-Rizzone: That’s a great question. I mean,

[01:00:01] it’s both. And like, I don’t. I think that I think the softer side is getting so, so, so much more awareness. And like there are a ton of podcasts and things now, right, that like, I don’t know.

[01:00:15] So I chimed in, I gave like a list of 10 podcasts, so I just can’t come up with them right now.

[01:00:20] When somebody was asking about the like, psychological aspects of money, right.

[01:00:25] And it’s almost like I feel like that’s catering to people that think that it’s all just the numbers. And it’s like, well, if you, of course, you know that it’s more than that, then you probably don’t mean to be leaning in even more or I don’t know, I guess I’m just like.

[01:00:40] Tara Bansal: Well, and I agree with you, but I think part of.

[01:00:46] Because it comes naturally to you,

[01:00:49] that you don’t really need that. But I’ve heard and seen different people who like want a script because it just doesn’t come naturally to them.

[01:01:00] I think in general, women, it does. I don’t, you know, it may be making too broad,

[01:01:06] you know,

[01:01:07] brushstrokes here or stereotypes, but I do think some people just aren’t as good at that. And I think you can learn,

[01:01:14] but some people, it just comes naturally and I feel like that’s the way it is for you. I think it is for me too.

[01:01:21] Kathryn Kubiak-Rizzone: And yeah, I guess, I guess what I’m saying though is like I,

[01:01:26] most people, most clients don’t really want to hear the numbers behind it.

[01:01:30] Like that is so you. But you have to kind of do the numbers so that you yourself can be. Feel comfortable and confident that like, yes, I know. And that’s why it’s hard.

[01:01:41] I, I don’t do just hourly. Like I can’t just answer an isolated question for someone because everything is so related. So if, you know, I have to do the comprehensive picture and then once I know what your circumstances are, then I could.

[01:01:56] If you just have a one off kind of question, I can answer it through the lens of what is right for you because I know that the finances can support it, but I can’t just blindly say, yeah, yeah, I’m sure it’ll be fine, or what do you kind of thing?

[01:02:09] Tara Bansal: It’s like that one best exercise, right? It’s not possible.

[01:02:12] Kathryn Kubiak-Rizzone: Yeah, yeah. So, so I think it’s probably more. It’s probably the 80, 20 Pareto kind of, of soft versus hard.

[01:02:22] Tara Bansal: 80% soft.

[01:02:23] Kathryn Kubiak-Rizzone: I bet if, okay, no, like, I think that principle probably transcends a lot.

[01:02:28] Tara Bansal: I, I think that’s the way it should be. I just Wondered and I’m glad to get your, you know, opinion and take.

[01:02:36] Kathryn Kubiak-Rizzone: On it because yeah, I think, you know, it’s the like justificate. Right. We make decisions based on emotion and then we justify it with the numbers. Right.

[01:02:48] And so I think that’s where we’re probably not being honest with ourselves if we don’t kind of acknowledge that. But I don’t lead. I was talking to somebody, oh, one of my clients who’s a coach about this of like most people don’t think what they want is life planning or that’s,

[01:03:07] you know, they’re not going to seek out help in that way. What they are seeking out help in is the numbers.

[01:03:13] And so all of the life planning pieces of it. That’s the just subtle under the surface, you know, kind of behind the scenes. It is the theme through which we’re doing everything.

[01:03:26] But you know, they ask a numbers question and we give them back.

[01:03:30] Yes, the numbers question disguised in or you know, like a life answer disguised in a numbers answer.

[01:03:36] Tara Bansal: Yeah. Carl Richards talks about it like that’s the trickery of they come for like a numbers question or issue but it’s really behind those numbers. What’s.

[01:03:48] Kathryn Kubiak-Rizzone: Yeah, I feel like I, I kind of embody Kitsis and Carl, like I can’t, you know, in within me is the spreadsheet nerd.

[01:03:57] You know that like I come alive to do that just like him. But I recognize that that’s not what people want. And you know, what comes out is.

[01:04:05] Tara Bansal: The, the Carl Richards, which is incredible because that.

[01:04:09] I don’t know. I think the fact that you have both of that.

[01:04:13] I can do the spreadsheets, but I don’t love it. Like I was, you know, an engineer,

[01:04:19] so but for some reason I want to spend way more time on the emotional, softer what do you really want in your life part. And so.

[01:04:30] Kathryn Kubiak-Rizzone: And I think that there’s ways to emphasize that too. Right. If you,

[01:04:34] if that’s truly your calling, then you lean into that and that’s. You’ll attract the people that really.

[01:04:42] Tara Bansal: And. Or you hire or get someone to do the paraplanning or the numbers part that doesn’t want to be client interacting or you know, that’s why I think it is look at what you love and try to do more of that.

[01:04:56] Kathryn Kubiak-Rizzone: I’m really intrigued. I love that the field of financial therapy exists and I would. I don’t want to be a financial therapist in any way. I feel like that’s this, this is the perfect amount of like, yes, we’re Gonna acknowledge your history with, you know, your lived experience and how we all,

[01:05:16] you know, experience money differently.

[01:05:19] And we’re not just gonna, like, that’s not where we stay.

[01:05:25] We then translate that into action steps.

[01:05:29] And that’s.

[01:05:29] Tara Bansal: But I do love that there’s financial therapists that want to do that and dig into that, and I know one who. Yeah.

[01:05:38] So.

[01:05:38] Well, thank you. I appreciate you went. You spent your more time than I, I asked you, but I know I, I really do. We may have to have you back just because I have more questions I want to ask, but.

[01:05:53] Oh, no, thank you, thank you, thank you.

[01:05:57] As you just heard, Katherine and I had an amazing conversation.

[01:06:02] I clicked end recording and Katherine and I kept talking. There was so much juicy stuff that I,

[01:06:11] I said to Katherine, are you okay if I start recording again?

[01:06:15] I did. And here’s the rest of our conversation. Katherine talks more about her process and how she works with her clients.

[01:06:24] I felt like it was of great value.

[01:06:26] Tell me again how much time you spend with your clients and how that breaks down.

[01:06:33] Kathryn Kubiak-Rizzone: Yeah. So when we get started, there’s four initial meetings that I have with clients.

[01:06:37] The first is all around goals, values, and priorities. So I don’t ask for any financial data until I know what’s important to them.

[01:06:46] Tara Bansal: And I agree with that. Like, people want to get the paperwork, and I’m like, no, no, no, we’re not going there. Right?

[01:06:52] Kathryn Kubiak-Rizzone: Like, yeah, yeah, it’s. And it’s glorious. I just, I, I, I have a,

[01:06:56] a survey that I have them fill out that’s really just this inventory that helps to kind of open the door to, like, all the possible planning topics. And I think that it helps.

[01:07:05] Tara Bansal: Before they even come, they do the survey.

[01:07:07] Kathryn Kubiak-Rizzone: It’s the only piece of homework that they have before our first meeting, but it sets the stage for the litany of things that we can cover together.

[01:07:15] And then we talk about the things that are important to them.

[01:07:18] Uh, you know, some, you’ll hear people talk about creating that statement of financial purpose or whatever, but we kind of evoke. There’s lots of ways that people have of evoking,

[01:07:28] just getting people to talk about what matters, and that’s what I care most about. So I start very high level in what matters to them and their values. Without. I, I don’t actually like the idea of a values exercise.

[01:07:40] I find it very hard when I look at.

[01:07:41] Tara Bansal: I do too. I did not, I did that. And I didn’t really enjoy it.

[01:07:45] Kathryn Kubiak-Rizzone: Yeah. So that I’ve, I’ve explored all kinds of things, and this feels very natural. And it just. We’re just talking about what matters, and then we kind of take that and get a little more granular and talk about specific goals that we’re planning for and what retirement looks like and how often you replace your cars and if there’s college or home renovation or whatever.

[01:08:05] Tara Bansal: And that’s still in the first meeting.

[01:08:06] Kathryn Kubiak-Rizzone: Still in the first meeting, yeah.

[01:08:08] So this is kind of where we’re just setting the stage of, like, what do we want is possible? And I love it because I don’t have any idea if these things are possible or not.

[01:08:20] I have not a lick of. I have a hint of their numbers because pricing is based on complexity. So I have a general sense of, like, the range of income, and that’s about it.

[01:08:30] So it’s truly what is important to you. What do you want? You know, if anything’s possible and there’s.

[01:08:36] Tara Bansal: No judgment ahead of time because.

[01:08:38] Kathryn Kubiak-Rizzone: Yeah, right.

[01:08:39] Tara Bansal: I like that.

[01:08:40] Kathryn Kubiak-Rizzone: Then we can kind of see. Only then we put the numbers behind it. And if. If we need to tweak, then we can go from there. So that first meeting is an hour and a half for couples,

[01:08:50] an hour for individuals.

[01:08:53] At the very end of that first meeting, I introduce them to. Right. Capital, the financial planning tool. I walk them through the tasks and where they’ll upload documents and link accounts.

[01:09:03] I’m sure I could do a video,

[01:09:05] but it’s just. I like to do it at the end of the meeting, and I’m not going to send them home with a video to watch. It takes a bit of time, and it’s just a seamless transition.

[01:09:15] You know, if I could have them bring physical documents and we weaned through them together,

[01:09:19] it’s. It’s the closest extent to that, if you will. Right. And so then we. There’s a bunch of time where they’re giving me the,

[01:09:28] you know, answering a question about other financial pieces and connect, you know, putting all the financial numbers behind it.

[01:09:36] And I look through everything, and then we get together in the second meeting or get organized, check in. And that’s where I’m kind of just like, clarifying all the details, filling in the gaps.

[01:09:46] When, you know, the mortgage rate doesn’t transfer in when you link an account or whatever these things are, making sure I truly understand the financial picture.

[01:09:56] Okay, so that’s a much more logistical meeting. It’s 30 to 45 minutes.

[01:10:02] Excuse me. And I’m just now tweaking my process a little bit that I think I’m going to have them start the like risk tolerance piece. At this stage I’ll tell you what I’m currently doing and how I switch it.

[01:10:14] So that’s the get organized. And then is the third meaning is their financial snapshot and action plan. And so that is where I say I liken it to a multi point car inspection or a head to toe physical where we’re looking at all aspects of their finances.

[01:10:29] I give like a red light, yellow light, green light, pulse check on a lot of areas not to overwhelm and add to the laundry list of things that they need to address, but simply to say it’s all, we’re looking at it all, it’s on the roadmap somewhere.

[01:10:42] And then that action plan is very specific. Next steps curated around what you know, whether it’s low hanging fruit or easy things that we can tackle or very important things to make sure that we address to help get them from point A to point B.

[01:10:56] So before that meeting, the snapshot and action plan meeting is when I’ve kind of done all the putting the pieces.

[01:11:03] Tara Bansal: Together to the whole comprehensive plan. So you look at insurance, you look at exactly everything.

[01:11:08] Kathryn Kubiak-Rizzone: Okay. I’ve never really. The firms that I worked for before,

[01:11:12] I didn’t ever see like we didn’t do a plan if you will 1. It was very modular, which I also see the value in, but it would take a very long time to get there.

[01:11:23] And the people that I serve are busy and I feel like I wanted.

[01:11:26] Tara Bansal: To be able to scheduling the meeting.

[01:11:28] Kathryn Kubiak-Rizzone: To the things quickly.

[01:11:30] So high level.

[01:11:32] But I record a video walkthrough of myself kind of explaining this,

[01:11:38] their financial snapshot action plan so that they can process it themselves.

[01:11:43] It takes about 15 minutes to record it.

[01:11:45] Tara Bansal: And is that separate than the meeting? Okay, because I just wondered if you recorded the meeting and they could go back.

[01:11:53] Kathryn Kubiak-Rizzone: No, I record the video walkthrough, send it to them the week before the meeting so they can watch it and jot down questions around details and implementation. Or just, you know, some people want to know more about where things come from.

[01:12:06] A lot of people don’t. They just want to know, okay, what do I do next steps, just all the things. And that way in the meeting we don’t rehash any of that, we just directly can answer their questions, we can explore trade offs.

[01:12:19] You know, it’s like I’m building it around the goals we talked about in the first meeting.

[01:12:24] If they’re not totally feasible, that’s where we can kind of move the levers in play.

[01:12:29] Sometimes we jump into Right capital. Sometimes we don’t. It’s very much dictated by whatever the clients need and I love that because you can hear me talking a ton on this podcast but I tend to try.

[01:12:39] I don’t want to be the one that is talking though as much as they can be leading. That’s what I do.

[01:12:46] Tara Bansal: They walk away with the action item list. Is that in writing?

[01:12:50] Kathryn Kubiak-Rizzone: Yeah. So in addition to the video there is a little PDF of. It’s not quite a one page plan if you will but I have there. You know it’s very.

[01:12:58] Tara Bansal: Pages visual.

[01:12:59] Kathryn Kubiak-Rizzone: I like that all of my colors are in. I think that’s very.

[01:13:03] And people have said that it’s very helpful to just very concise and. But actionable and clear around just kind of. Yeah. What these metrics look like. And so the action plan is spelled out on that PDF that accompanies the.

[01:13:18] Tara Bansal: Video and then the fourth meeting is just follow up on the action items.

[01:13:23] Kathryn Kubiak-Rizzone: What it has been is a deep dive into investment strategy. So really we haven’t talked deeply about investments in.

[01:13:31] Tara Bansal: Until the last.

[01:13:32] Kathryn Kubiak-Rizzone: Until the last meeting where we have the conversation around kind of near term versus long term, what are making sure we have enough allocated for each and the appropriate asset allocation.

[01:13:48] And that’s. It’s in that third meeting that we talk about the social impact. If they have preferences around impact investing in line with their values, we can have that conversation around what that looks like for them.

[01:14:00] Tara Bansal: Yeah,

[01:14:01] this is so fun.

[01:14:04] We’ll do it again because I just know I could talk to you forever. Thank you.

[01:14:09] Here are a few of my key takeaways from the conversation with Katherine.

[01:14:14] First, I really appreciated Katherine’s emphasis that there’s no single quote, best exercise or right way to do something.

[01:14:24] The best is what works for you and what you’ll actually do.

[01:14:29] This is such an important reminder and it applies far beyond fitness,

[01:14:34] to life and to the way we work as financial planners.

[01:14:39] In my life coaching work, I often talk about how only you can know what’s right for you.

[01:14:45] Similarly, there are many ways to build a financial planning practice and many ways to do a financial plan.

[01:14:53] We can’t and shouldn’t give advice until we understand what truly matters to our clients.

[01:15:00] It starts with asking the right questions and helping them clarify their values and goals.

[01:15:07] I also loved Catherine’s use of the phrase thought partner. I’m going to keep that and use it going forward.

[01:15:15] That idea really resonated with me. As planners, our role isn’t to tell people what to do.

[01:15:21] It’s to walk alongside them.

[01:15:24] We’re not above them,

[01:15:26] but beside them,

[01:15:27] offering insight, context, and helping weigh options.

[01:15:31] Yes, we bring knowledge and expertise,

[01:15:34] but we can’t apply that expertise effectively until we understand what they value.

[01:15:41] That’s where our real value lies and what distinguishes us from AI or any technical tool.

[01:15:49] It’s not just about having the knowledge,

[01:15:51] it’s about how we use it to support each person’s unique goals.

[01:15:56] And finally, I have to say I’m in awe of Katherine.

[01:16:00] She’s I think she even described herself as Carl Richards and Michael Kittis in one person.

[01:16:09] Her ability to connect with people on a deeply human level and operate so efficiently with facts, numbers and processes is seriously impressive,

[01:16:19] especially considering she only started her practice a few years ago.

[01:16:24] Katherine is a great example of how powerful it can be to combine heart and head to our meaningful work.

[01:16:33] Her story is just a great reminder that there’s no one best way to build a practice,

[01:16:39] just the path that’s right for you.

[01:16:43] Thank you for listening to Her Life, Her Practice, Her Way a podcast for and about female financial advisors.

[01:16:51] I truly hope you found something valuable and encouraging in today’s episode. If you did, I’d be so grateful if you’d take a moment to rate and review the show on Apple Podcasts or Spotify.

[01:17:04] It helps other phenomenal women in our field find this space.

[01:17:09] And if you know another advisor who would benefit from these conversations or from the kind of support I offer through coaching,

[01:17:17] please send this episode to her.

[01:17:19] If you’re curious about working with me as your coach or interested in being on the podcast, I’d love to hear from you.

[01:17:27] You can find more details and reach out to me on the contact page of my website.

[01:17:33] herlifeherpracticeherway.com no spaces, no underlines, just the word straight in a row.

[01:17:42] Until next time, keep building a life and practice you truly love.

💡 Kathryn’s Recommended Resources:

• Finance for the People by Paco de Leon – an accessible and affirming guide to money

• Activate Your Money by Janine Firpo – for aligning money with values across asset classes

🔗 Links & Resources:

• Kathryn’s firm: About Time Financial Planning

• BLX Internship Program: BLXInternship.org

• XY Planning Network: xyplanningnetwork.com

• NAPFA: napfa.org

• Amplified Planning Externship (formerly FPA Externship): amplifiedplanning.com

• Book: Finance for the People by Paco de Leon

• Book: Activate Your Money by Janine Firpo

[00:17] Tara Bansal: Welcome to Her Life, Her Practice, Her Way,

[00:21] a podcast for and about female financial advisors. Tara. I’m Tara Conti Bansal. I’ve been a financial planner and life coach for over 20 years,

[00:32] and I believe that when women thrive in this profession, we all win.

[00:37] This show is about sharing our journeys, our struggles, our breakthroughs, and the many ways we build a life and practice that feels true to us.

[00:48] And now I’m extending that mission. Beyond the podcast,

[00:52] I coach female advisors who want to grow a fulfilling practice and a beautiful life that they love.

[01:00] One filled with meaning, freedom, connection, and joy.

[01:04] Whether you’re just starting out, reinventing yourself, or dreaming of what’s next, you’re in the right place.

[01:11] Let’s build this together.

[01:13] Welcome.

[01:14] This is Tara Conti Bansal,

[01:17] and this is the podcast Her Life, Her Practice, Her Way.

[01:22] Today I am delighted to talk to Katherine Kubiak-Rizzone,

[01:28] and I got to know her through advisors for good,

[01:33] which I think the world of the people that are there.

[01:38] And she has impressed me from the very first second that I met her.

[01:44] I will.

[01:45] Well,

[01:46] Katherine, welcome. I’m. Like I said, I am delighted to have you here.

[01:51] Will you just start with telling us your story?

[01:55] I want to hear where you came from and how you got here.

[02:00] Kathryn Kubiak-Rizzone: Sure.

[02:01] Wow, that’s quite an introduction, Tara.

[02:04] Thank you. It’s a pleasure to be here.

[02:06] And yeah, I guess how I would describe it is I’m.

[02:11] I’m a mom, I’m a wife, I’m a small business owner and a financial planner.

[02:18] But that came about as I was a career changer. So this has been a journey I started. I grew up in Buffalo, New York,

[02:27] and met my wife in college. We were on the rowing team together.

[02:32] Tara Bansal: Oh, I didn’t know that. Where were you? Where did you guys go to school?

[02:35] Kathryn Kubiak-Rizzone: We went to ub. It’s called SUNY at Buffalo.

[02:39] Um, and both had not played. We had played soccer in high school and decided to focus on academics when we went to college and then missed the camaraderie of a.

[02:50] Of a sport and the physical activity and. And walked onto the team, each of us. She did it for a year more than I did. She started as a freshman and I came in as a sophomore.

[03:02] But, yeah, so that was serendipitous. And we’ve been together ever since. It’s been a long time.

[03:09] Tara Bansal: That’s a long time. That’s great. What did you study in college?

[03:13] Kathryn Kubiak-Rizzone: So I was interested. I was pre med, but I knew that if I changed my mind or you Know, wanted to pivot that I didn’t want a biology degree and end up in a lab.

[03:25] That wasn’t my style. So physical therapy was actually a bachelor’s degree at the time.

[03:31] And I said that was just such a perfect. I would get to, you know, work with patients and it would be a very direct kind of connection and stepping stone if I ever were to go on to med school.

[03:44] But. And then things changed. My wife was pre med and she continued.

[03:49] Well, you know, we had a couple different journeys together,

[03:53] but ultimately I decided I was fine to stick with physical therapy.

[03:58] And so that’s what I. That’s my first career was in pt.

[04:02] Not what you think of per se when you think of a physical therapist. The only setting I didn’t work in was like the traditional sports orthopedic kind of rehab that you might think of.

[04:15] I actually worked in a lot of nursing homes. I worked in hospitals, I worked with children. I did home health rehabilitation, people after strokes and all kinds of neurological conditions and other sorts of things.

[04:30] Tara Bansal: Did you enjoy it?

[04:32] Kathryn Kubiak-Rizzone: I did. There were a lot of aspects that I enjoyed. And I say it seems like a 180 to now be a financial planner. When I tell people the story, they’re like, wow, that’s a big change.

[04:43] But to be honest, the things that I loved about being a physical therapist are very, very similar to the things I love about being a financial planner.

[04:53] So I really enjoyed the teaching aspect. And even for a bit, I. I had a side gig. It was. I taught anatomy of physiology therapy school. So.

[05:04] And just connecting with people.

[05:06] There’s a lot of similarities to kind of your maintaining physical health, doing, you know, the things that we know are right for our, our physical health.

[05:16] And then there’s parallels to our financial health and just those types of behaviors and challenges.

[05:25] Yeah, interestingly, I.

[05:27] So it was a bachelor’s degree. And then soon into my career as a physical therapist, I was like, I knew I wanted to learn more, so I went back for a master’s,

[05:37] which turns out I probably just wanted more continuing on, like practical application. Not kind of research focused,

[05:44] but in the,

[05:46] in the coursework we would study,

[05:48] we would take classes around or like read research studies around. What’s the best exercise to help seniors in the nursing home? And the takeaway was always for me, I was like,

[06:01] there isn’t a best exercise. There is no such thing. The best is what you’ll do.

[06:07] And so I said, it doesn’t matter. We could study everything in the world, find the best things thing, and if if the senior in the nursing home doesn’t want to do it and won’t stick to it,

[06:17] then it’s not going to help them. And so what I ended up gravitating towards, I was at UNC Chapel Hill, Otar Heels,

[06:26] and they had a very strong public health program.

[06:30] So I ended up taking a lot of classes in public health.

[06:33] And there are things around stages of change.

[06:37] And those things are also very, very.

[06:40] Tara Bansal: Applicable to what we’re here doing now.

[06:43] Kathryn Kubiak-Rizzone: Y. Yeah. So it’s so funny that I kind of. What my thesis was on was on like self efficacy for exercise and various other components that like, it’s just, it’s been a full circle.

[06:54] Tara Bansal: Very much relate to full efficacy with your finances and being empowered. I mean, I should have started that.

[07:02] You have your own financial planning practice. You’re a fee only financial planner.

[07:08] And it’s called About Time Financial Planning. I love your tagline or your words of transparency,

[07:16] inclusion and empowerment. All three, I just think are amazing.

[07:23] I’m very much.

[07:24] Part of why I got into this is that I wanted women to feel comfortable and empowered with their finances and money. And so kind of,

[07:34] it’s huge.

[07:35] Kathryn Kubiak-Rizzone: I think we, you know, as women, we,

[07:39] you know, and other marginalized communities,

[07:41] like there are so many kind of systems that have not, you know,

[07:48] that have excluded us historically and to present day,

[07:53] you know, and. And then kind of layer on top of that just various systematic kind of cultural expectations around work in the home and things like that. And I just think there’s.

[08:07] Whether internalized or externalized, there’s a lot of barriers that people are fighting and at the same time a lot of strengths that we just need to tap into and help unleash and empower.

[08:20] And that’s what’s the most exciting thing, is to just kind of give that space for people to come into their power when it comes to their finances.

[08:30] And you know, there’s so many ways that I.

[08:35] I think our, our money kind of is the.

[08:40] Is how we live our values in the world and being able to kind of help people feel empowered around that and clarity around that and that they truly can make decisions grounded in what’s best for their lives and their communities.

[08:55] It’s just such a gift.

[08:57] Tara Bansal: It is. I agree.

[08:59] And yet I think often people say they have these values and then their money is not aligned with that for whatever reason. Do you have any like, theories or why that seems to happen?

[09:13] I mean, I. I feel like people who are aligned with their values and how they spend it feels so Much better.

[09:20] But I just. An observation from my side is that not always do people do that?

[09:26] Kathryn Kubiak-Rizzone: It’s interesting. That’s a good question to kind of ponder,

[09:30] I think, you know, I, I take people through various exercises and we do, you know, start with the big picture and I promise I tell them, I say we’re not going to spend all the time being up in the clouds like this, but I think just even giving a little bit of space to kind of articulating for yourself and speaking them to another person what truly matters for a fulfilling life.

[09:56] And you know, that’s first. Exactly right. So then however I said we’re also. I’m also very creative of being able to tie just about anything that we might, you know, if you really want this, like we can connect it back to a goal or value.

[10:10] So there’s lots of.

[10:12] But it’s, it’s doing it because that’s what is truly calling to you. Not because there’s a should, but from somewhere. Whether that’s your past or society or you know, some fad or something like that, whatever the media or friends or, or your background.

[10:29] The baggage that we bring are saying I should look at this. We kind of just push back a little and say where is that coming from?

[10:37] It is. Maybe it’s a true desire and maybe it’s coming from elsewhere.

[10:43] Tara Bansal: Yeah, I, I agree on that. Do you use money quotient or where did your exercises come from?

[10:51] Kathryn Kubiak-Rizzone: No.

[10:52] So I have been through the Kinder Evolve training. It’s the five day.

[11:01] I like having tools in the tool shed. But I’m not a jump on the bandwagon and think that one system is the be all end all for everyone.

[11:12] Tara Bansal: Well that goes back to what you just said, right? Like that there’s no one best way it’s customized for I think what is important to people and it’s what’s most important for them and will work.

[11:27] Kathryn Kubiak-Rizzone: Now I’m a little bit of a junkie when it comes to kind of like what is everything that exists out there and how might I apply it,

[11:34] you know, in various circumstances. But I find a lot of it is more to the just.

[11:40] It’s less about the tool, it’s less about the kinder three questions. What I took away from that training is it’s not at all the questions. Anybody can look those up.

[11:49] It is the presence that you create.

[11:52] It is the safe space and this vessel for truly tapping into what matters.

[11:59] And that is all an interrelational dynamic.

[12:03] And that’s another reason why I think That I see many, many women in this field excelling because it’s just. I was like, I’m not trying. Nobody told me how to interact with someone in this way.

[12:16] I’m just authentically connecting with you because I care about you as a person and want to hear,

[12:22] not because I have an ulterior agenda to address through these.

[12:27] Tara Bansal: Right. It’s not transactional. It’s really authentic of caring and curious and wanting.

[12:34] Yeah. What’s best for them.

[12:36] I agree.

[12:37] So going back where.

[12:41] Where did you grow up?

[12:43] What did you love to do when you were little?

[12:45] Kathryn Kubiak-Rizzone: Okay, this is. We’re taking it back, Tara.

[12:52] I was.

[12:54] I was very academic. That’s a nice way. You know, I was. I liked to read. I was good in school. School. I was very,

[13:02] you know, mathematically inclined and stuff like that. A very good student.

[13:06] But then I also enjoyed sports,

[13:09] like I said, playing soccer and then rowing in college. So, yeah, I always knew. I guess I don’t think anyone,

[13:17] you know, in my high school would be surprised if they were listening to this. To kind of like,

[13:21] I’ve kind of always had a drive. I was involved in lots of clubs and, you know, that I was that kind of go getter, if you will,

[13:29] the child.

[13:30] And.

[13:31] But I think it’s almost like I’ve always been looking for the.

[13:36] The way to kind of, you know, share my energies and passions with the world.

[13:41] So.

[13:43] The way. So when I was in physical therapy, I would often.

[13:47] I worked part time quite a bit when our kids were. Were young, and then I would also. I was involved in various advocacy efforts around educational equity and various other kind of passions that I had through that dynamic.

[14:04] And so I feel like I’ve always kind of had a number of things going on. Juggling a lot of balls. Right.

[14:11] And just kind of. Yeah, I would say that that theme persists from child to.

[14:17] Tara Bansal: Yeah. Tell us the story of how you switched from or made the pivot from physical therapy to becoming a financial planner.

[14:30] Kathryn Kubiak-Rizzone: So the.

[14:33] I took a good kind of look. I had been looking for a while. I think there was. I was happy enough doing what I was doing as a physical therapist, but it never quite grabbed me.

[14:45] I think I never quite felt the full use of my brain in that way.

[14:53] And so I considered a lot of different paths. And interestingly, also, ultimately, what I kind of realized, I. I thought back about all the jobs that I had had and the positions and I.

[15:03] I did. I. I kind of journaled, like, what were the things that I liked and didn’t like about the Physicians. And it was very helpful to kind of tease out themes and what other,

[15:12] you know, career paths would allow,

[15:15] you know, enough kind of flexibility for,

[15:18] you know, so my wife is a physician.

[15:20] Uh, there’s, you know, we have three children. It is. We need to have firemen. That is not, you know, 80 hours a week, things like that. But, you know, that would just check a lot of boxes.

[15:31] And before we could be legally married. And back in the day, when you would file taxes by getting the booklets and papers at the library, I’m that old to do it all by hand.

[15:46] And it was my own. Like, I’ve never used software to file. I would read through the publications to understand. I would go line by line and fill out our taxes, and I would do them four different ways because,

[16:01] wow, children.

[16:02] And when you’re not legally married, there’s all different possibilities of claims, the kids, who itemizes deductions. And this was years and years before I ever had financial planning on the radar.

[16:13] That’s just how it was a puzzle to solve. That’s how my brain worked. And I was like, this was great. So I have always done that. I have always kind of seen things in that way.

[16:24] And so that was when my wife and I would go, we did seek out some financial planners along our journey.

[16:31] And inevitably, I would ask a question,

[16:35] and they would either not be able to answer or not be interested in answering.

[16:41] The two examples that come to mind are, one,

[16:44] I was kind of asking, like, just like, where the. What the assumptions were. Like, where the outputs kind of came from.

[16:51] Because I was like, they hadn’t ever asked about our spending habits. And I was like, well, how do you. How do you know that this is the. You know, what does this number even mean?

[16:58] And they were kind of like, well, we just plug it into the computer and this is what it spits out. And I was like, wow, okay.

[17:04] You’re just like, it’s this black box, and you just can’t even explain to me where it comes from. So, okay.

[17:10] Tara Bansal: Yeah, okay.

[17:11] Kathryn Kubiak-Rizzone: And then another one. I think I just asked about a 529 plan, which isn’t. You would think it was aligned, but I think maybe because they weren’t paid to manage 529 plans, that wasn’t part of their value proposition anyway.

[17:26] So we would leave.

[17:27] Tara Bansal: Those were the people. Sorry to interrupt, but were the. The. The people you met with, were they financial planners or were they more like investment managers?

[17:35] Kathryn Kubiak-Rizzone: Because I think,

[17:36] yes, that was more of an investment manager. It was kind of like the,

[17:40] you know,

[17:40] my Dad’s guy kind of thing sort of, you know,

[17:44] that’s doing us a favor by we don’t have any money, but we’ll meet with you sort of thing.

[17:50] So that was the vibe that I was just like,

[17:53] you know, and we were. We didn’t not have any money. We just didn’t have their threshold of what, you know, they wanted,

[18:00] want or whatever. And we had a lot of questions. So every time we would leave those meetings, my wife would look over and she said, like, why don’t you just go do this?

[18:09] Tara Bansal: So she. She like thought that, yeah, she even seen the.

[18:13] Kathryn Kubiak-Rizzone: The possibility.

[18:14] So.

[18:16] So yeah, there are a lot of, you know, kind of possibilities. But this just. There’s so many aspects of this profession that I think work with for families.

[18:26] It’s certainly not easy to run a business. I didn’t enter that lightly.

[18:31] But to have the autonomy and flexibility and to be able to craft the practice that you want, work with the people you serve, I mean, that is just such a gift.

[18:44] And so,

[18:46] yeah, I just feel like I made it.

[18:49] Tara Bansal: Yeah. And that’s part of what I want to highlight with this podcast is like, with the title, like,

[18:55] you get to decide and you can design it, like, who do you really want to work with?

[19:01] How do you want it to look?

[19:03] So tell us more.

[19:05] When did you start,

[19:07] like,

[19:08] even once you made this decision?

[19:10] Kathryn Kubiak-Rizzone: Oh, this was also. I feel like it was just meant to be the way things all transpired.

[19:17] Tara Bansal: How old were you?

[19:19] Kathryn Kubiak-Rizzone: So I made the switch in basically at the very end of 2019.

[19:26] And wouldn’t you, if you recall what happened early in 2020?

[19:33] So. Right. I mean, it was, I think, January of 2020 when I enrolled in an online CFP course.

[19:41] And simultaneously I was able to find a virtual paraplanner position.

[19:47] I give a lot of credit. They. I had no experience on paper, they knew, but they liked the way I wrote. So for any of you that are kind of,

[19:56] you know,

[19:57] new or things out there, there are. It’s sometimes the very little things you that I find make the difference. You know, just responding to the email and other sorts of kind of table stakes in my eyes.

[20:12] But don’t take for granted just writing a cover letter or something like that.

[20:18] So anyway, I had secured both of those virtually.

[20:21] Tara Bansal: And where were you living at this time?

[20:23] Kathryn Kubiak-Rizzone: Yeah, I guess I haven’t told about our whole yet.

[20:26] Tara Bansal: Because you moved around a lot.

[20:28] Kathryn Kubiak-Rizzone: Yeah, I grew up in Buffalo,

[20:30] and then after college, my wife and I moved to North Carolina.

[20:36] We lived in the middle of the country in rural North Carolina first and then we moved to yet another rural place in North Carolina. But when we were both at UNC Chapel Hill.

[20:50] So that’s where she went to med school when I went to grad school.

[20:53] So we were in North Carolina in the Triangle region for seven years.

[20:57] And then she did her residency at Vanderbilt. So we moved to Nashville.

[21:03] Tara Bansal: Very nice.

[21:04] Kathryn Kubiak-Rizzone: An awesome, exciting place at the time.

[21:07] Never would have guessed that I would have ended up there. And it was amazing. And we met such a great community in both of those places. We were there for seven years and then family wasn’t.

[21:18] We were kind of 15 hours from either family. Some was in Florida, some was in north. In New York.

[21:24] And we decided that was just a lot of kind of driving for things. They weren’t following us. We liked the latitude, but they weren’t following us.

[21:33] I won’t say we saw exactly what was happening in the political climate, but that was not a factor in the kind of protections of New York when we were legally married.

[21:45] It was in New York before we had national rights. And so you know, we were just like, let’s, let’s go back.

[21:53] But we are an hour east of Buffalo in Rochester, New York.

[21:58] And so that’s where we’ve been now. It’s. I don’t know, I’ve heard. Have you heard of the seven year.

[22:03] Tara Bansal: Yeah, like the cycles of. Yeah, I, I have heard that it’s like the seven year itch or whatever. Like people often refer to the marriage but I think in just like,

[22:15] I don’t know, ready for change that you know, there’s a like flow or you know.

[22:22] Kathryn Kubiak-Rizzone: It surprised me when I heard that that interval doesn’t match with any, you know, many school. If you think about even K top, it’s like sets of four or undergrad or you know, like there’s a lot of fours but not where does the seven come from.

[22:37] And yet that is exactly what we ended up. We were seven, seven. And now we’ve been. Now we’re going on 10 up here.

[22:43] Okay. But anyway, yeah. So we’re in Rochester, New York and what were we? Eva asked.

[22:50] Tara Bansal: Well then doing like so early 2020, you’re, you’re signed up for, you know, CFP program and have a new paraplanner position, both remote.

[23:07] Kathryn Kubiak-Rizzone: I expected what I would do is just focus,

[23:10] really hammer out the CFP program in like nine months. Just full, you know, full time. I was, I was like, I want, I’m not working. I will just get it done.

[23:19] And then you know that I Felt like that’s what would give me credibility in the industry. I knew I had a lot of life knowledge and experience but there’s a lot to learn and you know.

[23:31] Tara Bansal: And did you have children at this point or not?

[23:35] Kathryn Kubiak-Rizzone: So yeah,

[23:36] we, so right now I guess I’m 45 and turn 46 this summer.

[23:43] We, our oldest is currently 17.

[23:47] We have a 14 year old and then a 7 year old.

[23:51] So quite,

[23:52] quite a lot.

[23:54] Tara Bansal: Yeah.

[23:56] Kathryn Kubiak-Rizzone: I was joking. Was it last year we were had this like learning to ride a bike and drive a car at the same time.

[24:04] At the same time when it was 6, 13 and 16.

[24:07] So lots and lots of fun milestones happening.

[24:13] So yeah, so it did not work out that I studied, you know, full time. Instead we had the shutdown. The kids were all home. Everyone we had also not. This was not a Covid puppy but we had just gotten a puppy before.

[24:28] Tara Bansal: COVID So you beat the rush.

[24:31] Kathryn Kubiak-Rizzone: Like okay, I’ll be working from home and study. I can train the puppy and take the, you know, they not full, full puppy. Like I not they were already house trained but young and we had a.

[24:43] So how old was our daughter at the time? 3.

[24:46] And so I’ll be in the house with yeah the, the puppy, the three children and me working from home. And then my wife,

[24:56] she’s not in inpatient medicine.

[24:59] She works in a clinic. But there was definitely the risk of maybe having to, you know, she was working the whole time kind of entering the hot zone.

[25:08] Tara Bansal: What kind of physician is she?

[25:10] Kathryn Kubiak-Rizzone: She is a sports med physician. So non operative, not an orthopedic surgeon but like any,

[25:17] both adults and children, athletes and you know, weekend warrior kind of thing or just general arthritis type thing. Any sort of musculoskeletal kind of condition.

[25:29] And but she ended up like,

[25:33] you know, for a little while we thought she might have to help triage some scariness if, if it ever we have had a big outburst or an outbreak or something like that, you know.

[25:45] So there was a lot of uncertain stress.

[25:48] That’s what I,

[25:49] I just like, I feel like we’re right around that anniversary. I’m seeing all the memories.

[25:53] Tara Bansal: Oh yeah. I mean five years ago exactly.

[25:57] Kathryn Kubiak-Rizzone: Believe what we all endured. So but I,

[26:00] I,

[26:01] I was prior to my career change I was working in nursing homes and there’s no way that I would have been able to continue that. Like I would have had to quit in order like with you can’t have a three year old at home full time and also have both of us be going out there.

[26:17] So I would have not been doing anything and instead I was laying the foundation. I still studied. I just did it on a slower, more normal trajectory and it didn’t really derail things too long.

[26:30] It took me about a year to complete the CFP coursework.

[26:34] Tara Bansal: That’s pretty amazing. I know with kids, homeschooling and all of that. And a little one like, yeah, sounds.

[26:44] Kathryn Kubiak-Rizzone: Like a lot walking because that’s with a puppy and a baby and just to kind of get out of the house. I think we met more neighbors during COVID like waving across the street to each other to get out.

[27:01] Tara Bansal: So you were working as a paraplanner. You passed the CFP exam then what?

[27:06] Kathryn Kubiak-Rizzone: Oh yes. So I was working as a paraplanner.

[27:10] Very behind the scenes. I would, I sat in on a couple meetings, but a lot of what I was doing was more organizational and that type of thing,

[27:19] so. And often even I was sometimes like categorizing transactions in the budget system,

[27:25] which I think is not a value add. The clients didn’t really appreciate, they didn’t have buy in.

[27:31] But I mean I’m very familiar. I’ve always tracked expenses. So I was like, yeah, I can do that. Then I moved to another position. Both of these were with fee only firms.

[27:40] I’ve only ever wanted to be a fee only planner. To me that’s just when I think of a financial planner or you know, when you hear the words financial advisor, financial plan.

[27:52] It’s someone who can advise or help plan for all aspects of your finances. And that was, I was, you know, exactly seeking. The type of relationship that we were looking for is like, you know, investments is a piece, but it’s a very small piece.

[28:07] And so anything, you know, that money touches, I wanted to be able to help and you know,

[28:13] thought partnering.

[28:15] Tara Bansal: So and I love that term thought partner. Like on your website, you use that a lot. And I just love that that it’s not once again that you have this magic bullet or formula or whatever that it’s about the client and what they want and to work with them as a partner instead of even like that you’re leading the way or telling them what to do.

[28:44] Kathryn Kubiak-Rizzone: There’s no, I mean there’s no way, one way to do money. Right.

[28:48] We just.

[28:50] And, and a lot of it is I say it’s trade offs and it’s exploring possibilities and it’s just having a second brain to help you think through, like what am I not thinking of?

[29:02] Or you know, and sometimes it’s often it’s validating and just kind of saying.

[29:08] Tara Bansal: Yes or giving permission or how we can make this work. Right. Like with these other trade offs or what’s more important.

[29:17] Kathryn Kubiak-Rizzone: I always, I say, you know, I’ll, I’ll run the numbers and I’ll tell you what it, what it says on paper is optimal, but what’s optimal is for your life. Back to the exercise.

[29:27] There is no best thing. It’s what works for your life in, in the here and now, so into the future. But yeah.

[29:36] Tara Bansal: All right, so you changed positions.

[29:39] Kathryn Kubiak-Rizzone: So then I changed positions. I was ready to be client facing.

[29:42] And I just knew if I given the opportunity that that would, that this is where I just wanted to be able to really dive in and help people. So I was able to get another position that was,

[29:54] you know, I guess like a associate financial advisor. I had not yet taken the exam. So this was after I completed the coursework and then started this position. Now full time, but I’ve always been.

[30:07] Tara Bansal: But still remote, completely remote.

[30:09] Kathryn Kubiak-Rizzone: So this was. This position was based in D.C. i was in Rochester. That’s another, I think, blessing is I’ve only ever done this career through a zoom, you know, lens.

[30:22] I’m sure it’s very different than being physically present with people, but I can feel people’s energy through the computer screen. It doesn’t in any way to me feel like a sacrifice in a way.

[30:35] You know, it’s. Instead, it’s beautiful that I get to work with people across the country from where we are. So,

[30:41] so many fortunate things that did come out of this. It’s crazy to me to realize.

[30:48] Tara Bansal: So when did you go on your own?

[30:50] Kathryn Kubiak-Rizzone: Yeah, so I worked at that other firm. So that’s where I passed the CFP exam and got the, you know, full experience hours.

[30:59] And I’ve. I wanted to. I think I always knew that I would go out on my own for a minute. I tried to say, well, maybe I would just be happy kind of working for someone else.

[31:10] And I had run a business. I didn’t tell you about this part in the history. I had run a business before in physical therapy. Also dabbled in personal training.

[31:22] And I had a small business where it was fitness classes for pregnant women and moms.

[31:29] Um, and so we. So yeah, so I had a personal training business. And then it kind of morphed into these prenatal postpartum fitness classes.

[31:36] So I knew I was like, I’m not just scratching an entrepreneurial itch that somehow thinks that’s the be all, end all. It was hard.

[31:44] It’s not, you know, I, I didn’t go into it lightly, but I think I just. I wanted to be able to help people in the way that I saw the vision that they,

[31:55] you know, deserves to be helped.

[31:57] And I think I’m just like, speaking to anyone who’s out there kind of as an employee, you know, making. Running things like you probably are more competent than you think you are,

[32:08] and just, you know,

[32:11] it’s certainly not a thing to just enter into lightly. I’ve had a lot of.

[32:16] Tara Bansal: No, but I also, for me,

[32:19] like, I wanted to do it my way, and I, I got frustrated when I felt like they weren’t doing it the way I wanted to do it. And,

[32:31] and depending on where you are and the amount of flexibility you have,

[32:36] I think that varies firm to firm and things like that. But,

[32:40] yeah, I,

[32:42] I wanted to be able to do it my own way. And I don’t know if that’s how you felt and that’s what ultimately.

[32:49] Kathryn Kubiak-Rizzone: Yeah, I’m sure. You know, I mean, I loved the interactions that I had with clients and it felt, you know,

[32:54] I think I would just say, oh, you know, my mind would go to, well, this is the way I would do it kind of thing. And I spent.

[33:02] I loved talking to other advisors, kind of what you’re doing, Tara, in this. But I would just, I love to kind of hear, well, how do you do it? Like, what’s your onboarding sequence like,

[33:13] your meetings? How do you, like, tell me what you do with people? You know, when it comes to cash flow or.

[33:19] Because it’s fascinating, no two firms, like, operate in the same way.

[33:23] Tara Bansal: It’s so true.

[33:24] Kathryn Kubiak-Rizzone: And I, I loved it,

[33:26] connecting with people on that way because you hear, like, their passions came out in the way that they, you know, designed their processes and things like that.

[33:35] So that was just,

[33:36] in the end that actually was. It ended up being helpful. In no way was I doing it. I was doing it because I liked to learn about this. But a lot of clients have come from other advisors and I think just,

[33:49] I feel so supported by this network that is,

[33:54] you know, very giving and supportive and happy to pay it forward and share what we know.

[33:59] Tara Bansal: And so how do you get or where do you get that networking and helpful support?

[34:06] Kathryn Kubiak-Rizzone: I’m in too many groups. So the XY Planning Network, NAPFA are the two kind of big.

[34:15] Tara Bansal: Yeah.

[34:16] Kathryn Kubiak-Rizzone: And then there are kind of offshoots of those where there’s like, little slack channels and discord groups for various,

[34:24] like, advisors for good, you know,

[34:26] specific topic areas potentially.

[34:30] And so I just, I think there’s areas that are, you know, I’m in some masterminds and just because I’ve connected with people,

[34:38] there’s always something to learn. And that was the, that was the threshold for me.

[34:42] I said I wouldn’t have felt comfortable jumping in for a little while. I wondered before everything went remote, before I actually was.

[34:54] Yeah, I guess before the pandemic, I had networked locally in Rochester with the handful. I say I think there were maybe 5 fee only financial planners in our area. They were all like solo shops,

[35:09] not looking to grow.

[35:10] And so I was like, oh man, if this is the type of work that I want to do for people,

[35:15] I might just have to go out and do it myself because there’s not a pathway.

[35:19] Tara Bansal: Yeah.

[35:20] Kathryn Kubiak-Rizzone: You know, and then pandemic opens things up.

[35:24] I can work anywhere.

[35:27] I was like, oh, and so that was super exciting. Shout out to Hannah Moore. And at the time it was the FPA externship. Now she runs it through Amplified Planning.

[35:36] But I also did that for two summers and that’s what really opened my eyes to, oh, this is. I’m not crazy. Like there. This is a model that’s quite popular in major metropolitan places around the country.

[35:51] And lots of people that had energy to kind of not just serve existing retirees or people with a certain level of wealth.

[35:59] But you know, I could create the model in the way that I want. It’s not, I’m not this visionary that is, you know, seeing things that haven’t been done before.

[36:09] Lots of number people are taking their approach.

[36:12] So that was also helpful to kind.

[36:15] Tara Bansal: Of realize how many masterminds are you part of?

[36:23] Kathryn Kubiak-Rizzone: Like I think three or four.

[36:26] Tara Bansal: Okay. And how often do most of them meet?

[36:30] Kathryn Kubiak-Rizzone: Most are once a month. One meets twice a month. But I say I can only usually come once a month.

[36:36] Tara Bansal: Of these other ones, are any of them more female focused? Because I’m in a female only financial planner.

[36:45] Kathryn Kubiak-Rizzone: Yeah, one of them. Not by design. It we just was created through like the XYP and Launcher group. But I they it’s all women.

[36:53] Tara Bansal: Okay, that’s nice.

[36:55] Kathryn Kubiak-Rizzone: Usually there’s one that’s RAM planners, which is for.

[37:01] It’s a very neat intersection of kind of movement driven folks, folks who are working in solidarity economy and like activists and things like that meets people in the financial planning world.

[37:18] And so some of them are like people who are interested in really shaking things up and trying to kind of come from that world into finance and others that are in finance looking to kind of incorporate so they Are there’s like,

[37:34] they challenge me because I’m,

[37:37] I, I,

[37:39] it’s helpful to kind of hear the extremes of, you know, where we are not as a country and as a society. And I don’t know that we will ever get there,

[37:48] but it’s the, the like, if you want to move the needle an inch, you kind of have to advocate, you know, way over at the end to kind of shift this behemoth.

[37:58] And so that’s,

[37:59] that’s always a helpful kind of group for me.

[38:03] Tara Bansal: So when did you register?

[38:07] Kathryn Kubiak-Rizzone: Yeah.

[38:07] Tara Bansal: You’re your own Ria, correct? Yeah.

[38:10] Kathryn Kubiak-Rizzone: So we are at.

[38:11] So I registered. New York was very quick.

[38:16] I was still working at the last term. I had given notice, but I planned to kind of finish off the end of 2023.

[38:25] But I was nervous about there being a gap. And so I said I kind of got everything ready so that I could launch. And then I figured there would take a while before I get approved.

[38:36] And so then I continue working and turns out New York registers people really fast.

[38:43] I heard that I was officially registered in September, but I wasn’t. I worked full time at the other firm until November 1st. Like, yeah, basically Halloween. And then, so,

[38:55] and then I stayed on part time to kind of help the transition. We had a very cordial,

[39:00] you know, working relationship. I still, you know, we still refer people back and forth and our friends in the industry.

[39:07] So that’s great.

[39:08] It’s wonderful.

[39:11] But then, so, yeah, so I officially think of my launch as being November 1st of 2023,

[39:18] which is nice because it’s just a couple months of Runway, and then I can kind of think of like, 2024 was my first year, real year.

[39:27] Tara Bansal: Yeah. How did you get clients and how did things get going for you?

[39:34] Kathryn Kubiak-Rizzone: This is another thing that is just miraculous to me. I put a ton of energy and my soul into the website, which is beautiful.

[39:44] Tara Bansal: And I just love so many parts of it. The colors, the language, the. You can tell there was a lot of thoughtfulness that went into your website.

[39:56] Kathryn Kubiak-Rizzone: I mean, before you have a firm, all you have is the intentionality around how you’re going to build it. Right. And I knew that a website is.

[40:03] Tara Bansal: It’S the how to communicate that.

[40:06] Kathryn Kubiak-Rizzone: Right. The only way to convey things to someone who’s never met me.

[40:09] So I specifically looked for a web designer outside the industry because again, a big kind of tenant is like not what you, not your traditional financial advisor. Right. And so needed to be modeled in the way that it manifested.

[40:26] I wanted to make sure it was accessible and so she really helped with the kind of colors,

[40:31] um, and that sort of thing. I probably wrote every word. Um, she got a framework going and then I was like, okay, that’s not my voice. And so I poured over because to me, it’s really important intentionality around what the words evoke in a feeling.

[40:50] So that I think has been a very helpful. I feel a lot of people that come feel like they already know me or, you know, are aligned in that way.

[41:01] I know that other kind of social media presence. I’ve heard a lot about content marketing and how that can do the same.

[41:07] And I had plans to do all of that and I haven’t because I’ve been busy.

[41:15] Yeah,

[41:16] I think the majority of.

[41:19] I did get a lot of referrals from other V. Only planners, which has just been such an honor.

[41:27] I also like to kind of do the same. I.

[41:31] It’s. It’s important to me to serve people that I know I’m going to serve well. And if I’m not right for them for whatever way part of this transparency is I said I’m not going to try to convince them that I’m right for them and I want to connect them with someone else.

[41:47] So I probably,

[41:49] you know, refer out and connect people.

[41:51] I won’t say as much, but there’s a good number of people that I have come to me and I have connected them with others because sometimes that.

[42:00] Tara Bansal: You just feel like you don’t. You’re not excited to work for them. I mean that to me, that. Or is it more like either complexity or a specialty that you don’t have?

[42:11] Kathryn Kubiak-Rizzone: I tried.

[42:12] So I.

[42:14] A toxic flaw would be that I want to help everyone.

[42:19] Know, however,

[42:21] that how you can be more efficient. If I know, like, sure, I could help you, but it’s not my,

[42:29] you know, typical kind of niche clientele.

[42:33] Then it’s going to take me twice as long as someone else. Someone else. And that’s not the best use of my time and it’s not the best use of your time or resources.

[42:43] So, you know, that’s why there’s. I. I’m only human. There’s only so many hours in the day and there’s only so many people that I can help. So. So as hard as it is initially, you know, I just.

[42:53] But it’s not like I’m not the only person that exists, you know, that’s. It’s this abundance mentality of there are lots of great people doing great things and if it’s not me, I’m more than Happy to connect you with someone else that is the right fit.

[43:09] Tara Bansal: So you have a network of people that you generally refer to. No, I.

[43:16] Kathryn Kubiak-Rizzone: I balk at the idea even of that. I was like, there’s not this like, oh, I send them to you. It’s not like this BNI group that I feel like I’m sending them to you because I expect you to send people to me.

[43:28] There is no that. In no way does it come from there. There’s not a referral network. It is that I know a lot of people in this industry and I understand what their areas of specialty are.

[43:38] And so I kind of go through my virtual Rolodex when I’m hearing you describe what you’re looking for.

[43:44] And if it’s not like really aligned with what my strengths are and skill sets are, then I’m going to connect you with these other people because that’s exactly, you know, they check those boxes.

[43:57] Tara Bansal: Who do you want to and love working with?

[44:02] Kathryn Kubiak-Rizzone: So I have a pretty big niche, but even in that, you know, I have a couple of different defined niche areas.

[44:12] What I would say.

[44:14] So the specific niche areas are physician families,

[44:18] small business owners and LGBTQ couples, basically because that’s our, that’s my lived experience.

[44:24] Tara Bansal: That’s your world. Yeah.

[44:25] Kathryn Kubiak-Rizzone: My wife is a physician. We’re an LGBTQ couple.

[44:28] But that’s just. I was like, there’s not a great way to kind of really. It’s where my kind of special sauces is in like high earning people in their,

[44:42] in the peak of their working years that are just kind of a lot of life is still hitting and the, the most fun is when they’re close enough that I can kind of show look you, you have options.

[44:55] Like when they really want to know how much longer might I have to be doing this is, you know, and we can kind of look and say the gift that I’ve given lots of people,

[45:06] the news that they guess what, you’re already financially independent and that you get to choose.

[45:12] That’s so wonderful.

[45:14] And I often say that when folks that I said, oh. And I know I can say this because it doesn’t. You’re not going to retire tomorrow because there’s an evolution.

[45:22] But I’m excited to learn that some people are really taking it to heart and taking steps in that direction. So those. That’s been wonderful news. So I feel like there’s a little bit of the earlier career kind of especially with physicians where life feels like it’s been put on hold for a long time and now it’s we want to buy a house and start a family and you know,

[45:46] it’s like. But we also feel like we’re playing catch up because there’s student loans or,

[45:50] you know, we haven’t been able to contribute to retirement. So that’s. I expected to be a little bit more there, but really it’s a little deeper into the career where I find now actually, no, it’s more colleges on the horizon and that’s the new kind of like motivator.

[46:06] Yeah, exactly. And just what is our future kind of looking like? So there’s a lot of tax complexity around high earners where it feels like a lot is going to taxes.

[46:18] So these are like the tangible kind of planning problems that I solve that I solve, if you will and then just, you know, good people that are,

[46:30] you know, want to live intentionally in the world and,

[46:36] you know, have gratitude for.

[46:38] I just like, I think I. To be able to help people that are helping others in their professions. I feel like I’m able to give you the gift of more like less burnout.

[46:51] You know, if that’s. I was like, if you can help more people, we can all kind of have this ripple greater effect.

[46:57] If you feel options and flexibility around what you’re doing and are choosing to continue as opposed to the money saying you’re chained to that X more years.

[47:10] Tara Bansal: Well, and that’s part of, part of why I’m doing this podcast is I think so many female financial advisors.

[47:20] Kathryn Kubiak-Rizzone: Are.

[47:20] Tara Bansal: Kind of burning the candle at both ends, trying to take care of their family, trying to work on their business,

[47:26] trying to keep their head above water and juggling all these things. Right. Like speaking from,

[47:33] you know, and, and that’s also sounds like who you work with or you’re like, you know, a little bit in the thick of it and what choices do you have and how can we help,

[47:43] you know, dial this down for enjoying more and still get what you want?

[47:49] Kathryn Kubiak-Rizzone: And I recognize sometimes the systems don’t. It’s like, well, I’d love to cut back to part time, but that’s not an option where I am. And so it’s helping to just explore outside the box sometimes of,

[48:02] you know, what that can look like for you.

[48:06] Tara Bansal: How quickly has your practice grown?

[48:09] Kathryn Kubiak-Rizzone: Very,

[48:10] very.

[48:11] Yeah.

[48:13] But I, I’m also a very systematic person. Like, I, I build systems by design. It helps me to stay organized if I feel myself thinking through it. It’s stressful to me to have to think through the same problem more than a handful of times.

[48:30] I want to have A checklist or something that says okay. It’s a different part of the brain to like analyze and solve problems than it is to just make sure you’re not forgetting something.

[48:42] So even my is. It took me, I don’t know why it took me so long to create a, like a toiletries packing list,

[48:50] like the defaults.

[48:53] So then it was just like, because you still have to find the travel toothpaste or like buy the new small size, you know, suntan lotion for the trip or whatever.

[49:03] But if you don’t have to also like remember it and make sure that you’re not forgetting it. So like the list is there, but now the.

[49:10] You’re separating out anyway. Yeah,

[49:13] but so I do. I’ve created a lot of systems that help to streamline,

[49:18] to help make sure that I feel on top. And that’s how I’ve been able, I think, to handle a faster volume of incoming clients and do a good job. You know, I care deeply about servicing how.

[49:34] Tara Bansal: How many hours a week. Yeah. And generally would you say you work?

[49:38] Kathryn Kubiak-Rizzone: My target,

[49:39] which I’ve definitely exceeded it a little bit, but where I kind of based everything was. My target was to work like 37 hours a week.

[49:50] I think it’s like 46 weeks a year.

[49:54] I multiply it out to be around 1700 hours a year because I still want to be able to go on the zoo field trip with our daughter and see the, the track meets with our sons after school and you know, take a walk with my wife during the day that she’s home,

[50:11] you know, doing work from home kind of thing or whatever that is.

[50:16] So that was important to me as I kind of made the switch to try to just,

[50:22] you know, not sacrifice the things that are most important by putting everything, you know, just um,

[50:30] yeah.

[50:32] Unbalancing my life in that way.

[50:35] Tara Bansal: What percentage of your clients are like recurring versus the one time plans?

[50:41] Kathryn Kubiak-Rizzone: Uh, about two thirds recurring.

[50:44] I mean, I guess right now I’m in a little bit. I’ve. I’ve. A lot of project clients have kind of graduated and just a few new ones are on. So maybe right now it’s a little more like three quarters are ongoing.

[50:54] But generally of the new folks that come in, roughly 2/3 are ongoing and one third are project.

[51:01] Tara Bansal: Okay, nice.

[51:02] Kathryn Kubiak-Rizzone: Yeah.

[51:04] Tara Bansal: What. What are you doing to build your business now?

[51:09] Kathryn Kubiak-Rizzone: So I still have done very little. It has been mostly organic and I think I.

[51:16] Tara Bansal: When you say organic, is that just referrals?

[51:19] Kathryn Kubiak-Rizzone: I guess, yeah.

[51:20] Tara Bansal: From. Yeah.

[51:20] Kathryn Kubiak-Rizzone: Clients or from,

[51:22] you know, from other planners and now it’s from clients.

[51:29] So I don’t know. Sometimes, I mean, I ask everyone. It’s a kind of a medley of where people come from. And I, I do want to, I know that it’s important to kind of curate your stream, you know, make sure that they’re, the people that are coming truly are a good fit.

[51:47] Otherwise it’s, you know, not, it’s a,

[51:49] a waste of their time and my time kind of thing. But I do feel like I still can connect them. It’s not,

[51:56] I’m happy to give people a half hour of my time to hear, you know, what they have and to connect them to the next best person for them.

[52:05] Tara Bansal: Is it just you in your practice right now?

[52:08] Kathryn Kubiak-Rizzone: It is just me.

[52:10] Tara Bansal: So no virtual assistant now.

[52:14] Kathryn Kubiak-Rizzone: I hired our teen boys this summer to do some data entry.

[52:20] Very, very. They work about one hour a week.

[52:23] But it was, and it’s probably things that I can ultimately automate through technology.

[52:31] But the hurdle to actually create that,

[52:35] that it didn’t break was bigger than just showing them how to enter certain things in.

[52:40] And I’m happy to,

[52:42] you know, contribute to their development in that way.

[52:46] And I will be hosting an intern this summer through the BLX internship program.

[52:54] So I,

[52:56] I’m not prepared to take them on. This is a purely, you know, finite kind of period of time.

[53:02] Probably the first. If I bring someone on board, it would be in the more administrative kind of client service side.

[53:10] I don’t know.

[53:12] This is,

[53:13] this is my big kind of existential question that I thought I would have a little bit more time in the business before it really hit. And I had to kind of truly ponder what I wanted this to look, you know, do well.

[53:29] Tara Bansal: That’s what that I wanted. Like, what do you want? Your, how big do you want your practice to get and what do you want it to look like?

[53:36] Kathryn Kubiak-Rizzone: I don’t know.

[53:38] Tara Bansal: Okay.

[53:38] Kathryn Kubiak-Rizzone: So when I grew as fast as I did, even over the summer, I thought, well, goodness, I either have to slow this down or I have to hire. And I thought, okay, you know, I just was kind of a little bit tunnel visioned into,

[53:49] I guess I’ll have to hire. And then I kind of put the brakes on and I was like, wait a minute. I want, you know, I’ve been intentional to start.

[53:55] I want to be intentional this whole time.

[53:58] I think where I, I only ever set out really I think to create a lifestyle practice and be how kids is to term coins it solo with help like virtual assistant.

[54:12] I will say when there’s something that feels bigger than me about the. The movement, if you will.

[54:21] And so that is what kind of made me wonder,

[54:25] you know, is this. This mission driven thing that I do?

[54:29] But I also am not sure if I want to.

[54:32] I love working with clients that. That still, it’s not. It hasn’t gotten old for me that, you know,

[54:39] and I don’t know if I want to step back from that and spend more time managing other people who are doing that work as opposed to keeping it. So I’m sure it will evolve over time, and I’m open to what that looks like.

[54:57] I recognize it would be.

[54:59] It’s probably more helpful to be going in the right direction from the start, but I still don’t know what that direction looks like.

[55:07] Tara Bansal: Oh, great. What do you love about your job?

[55:13] Kathryn Kubiak-Rizzone: It.

[55:15] Everything.

[55:15] I feel like,

[55:16] you know,

[55:17] it. I’m not.

[55:21] I think that being able to help people realize that they can do more, they have more options than they have is such a gift,

[55:30] you know, empowering them to live their best lives and,

[55:34] you know, lean deeper into whatever it is, whether it be their career, whether it be their families, whatever that looks like is just such an honor and a gift.

[55:44] And to also know that it’s,

[55:48] you know, fits within my lifestyle and I am able to,

[55:54] you know, kind of keep things in balance to whatever extent you.

[55:58] Tara Bansal: Yeah, you have control, like, you can make the decision. So.

[56:02] Kathryn Kubiak-Rizzone: Sure. Yeah, it’s very. It’s empowering in all ways.

[56:06] Tara Bansal: Anything that you really dislike or would love to get, you know, rid of.

[56:12] Kathryn Kubiak-Rizzone: I think that’s what’s so hard is I actually like. I like the operations piece, I like the planning piece. So there’s not anything the. The piece that I feel like. The.

[56:27] The thing that I don’t like is when I don’t feel good at something, when it’s like a newer, not a new.

[56:33] It’s more like, oh, this isn’t tested. Like, I have a new idea for how I would unroll this, and now we’re just like kind of trying it out. And then that feel is like, I want to feel like I’m giving, you know, the best version.

[56:47] So even just.

[56:49] I’ve warned the intern that’s coming along. I’m like,

[56:53] I want to have a whole system set up for you, and I don’t want you to feel like you have to help me build the ship as we sail it.

[57:01] And she’s like, it’s okay.

[57:03] Tara Bansal: What podcasts or books or, I don’t know, anything else. Just real quick like, that you would recommend.

[57:15] Kathryn Kubiak-Rizzone: I think Finance for the People by Paco de Leon is a really. Have you read it?

[57:23] Tara Bansal: No, but I feel like I’ve heard of it.

[57:26] Kathryn Kubiak-Rizzone: Yeah, it’s a little like, it’s a way for people. It’s very unassuming.

[57:32] It’s a queer woman of color that’s writing to a different audience than most of the people that I work with. But it’s like one of the chapters is like, yes, we’re all weird about money.

[57:40] It helps people tie in a little bit.

[57:43] You know, it’s not in any way academic or talked down to people. It’s just, you know, very.

[57:48] So I think it’s a very. I recommend that sometimes as a very accessible book for people to feel like an entry into,

[57:56] you know, my money. I wouldn’t say that it’s.

[58:00] Yeah, it’s not for everyone, but I think the themes are kind of transformed.

[58:05] Tara Bansal: Universal. Yeah.

[58:07] Kathryn Kubiak-Rizzone: And. Oh, my goodness. And activate your money. I bet you’ve heard that.

[58:12] Tara Bansal: I haven’t heard of that one.

[58:13] Kathryn Kubiak-Rizzone: I heard that one. That’s Janine Furpo.

[58:16] And for people that want to kind of align their values with their money,

[58:21] she talks and she gives some really specific,

[58:25] tangible ways in various asset classes, if you will, you know, including, like, banking. There’s websites that you can kind of see,

[58:33] you know.

[58:34] You know, are they. Is it investing in the community and that kind of thing? Because those are all intentional decisions that I think,

[58:40] you know, most people come thinking like, oh, I want to align my investments. And I was like, you know, we do that. And there’s lots of other ways I help people take a bigger picture and see many other ways that we can align our resources with our values as well.

[58:56] And I think that’s a helpful broader approach.

[59:00] Tara Bansal: Oh,

[59:01] wow.

[59:02] I mean,

[59:03] just.

[59:04] You are the reason your firm is growing so quickly, because I can just tell that you do a great job.

[59:13] And.

[59:14] And not just like,

[59:16] not just the number side. Like, I can tell you’re very detail oriented, very, you know, well informed and knowledgeable.

[59:24] And yet you talk about. Right, like, what getting to the people side and the really deeper reason for the money. And so that’s. That’s what I think all of us should be doing, you know, and I want people to know that that is okay and I think even better.

[59:44] Right. Like,

[59:45] one of my questions is how.

[59:48] How much do you feel like is like the softer side and value side versus, like, more the technical financial planning? Just.

[59:58] Kathryn Kubiak-Rizzone: That’s a great question. I mean,

[01:00:01] it’s both. And like, I don’t. I think that I think the softer side is getting so, so, so much more awareness. And like there are a ton of podcasts and things now, right, that like, I don’t know.

[01:00:15] So I chimed in, I gave like a list of 10 podcasts, so I just can’t come up with them right now.

[01:00:20] When somebody was asking about the like, psychological aspects of money, right.

[01:00:25] And it’s almost like I feel like that’s catering to people that think that it’s all just the numbers. And it’s like, well, if you, of course, you know that it’s more than that, then you probably don’t mean to be leaning in even more or I don’t know, I guess I’m just like.

[01:00:40] Tara Bansal: Well, and I agree with you, but I think part of.

[01:00:46] Because it comes naturally to you,

[01:00:49] that you don’t really need that. But I’ve heard and seen different people who like want a script because it just doesn’t come naturally to them.

[01:01:00] I think in general, women, it does. I don’t, you know, it may be making too broad,

[01:01:06] you know,

[01:01:07] brushstrokes here or stereotypes, but I do think some people just aren’t as good at that. And I think you can learn,

[01:01:14] but some people, it just comes naturally and I feel like that’s the way it is for you. I think it is for me too.

[01:01:21] Kathryn Kubiak-Rizzone: And yeah, I guess, I guess what I’m saying though is like I,

[01:01:26] most people, most clients don’t really want to hear the numbers behind it.

[01:01:30] Like that is so you. But you have to kind of do the numbers so that you yourself can be. Feel comfortable and confident that like, yes, I know. And that’s why it’s hard.

[01:01:41] I, I don’t do just hourly. Like I can’t just answer an isolated question for someone because everything is so related. So if, you know, I have to do the comprehensive picture and then once I know what your circumstances are, then I could.

[01:01:56] If you just have a one off kind of question, I can answer it through the lens of what is right for you because I know that the finances can support it, but I can’t just blindly say, yeah, yeah, I’m sure it’ll be fine, or what do you kind of thing?

[01:02:09] Tara Bansal: It’s like that one best exercise, right? It’s not possible.

[01:02:12] Kathryn Kubiak-Rizzone: Yeah, yeah. So, so I think it’s probably more. It’s probably the 80, 20 Pareto kind of, of soft versus hard.

[01:02:22] Tara Bansal: 80% soft.

[01:02:23] Kathryn Kubiak-Rizzone: I bet if, okay, no, like, I think that principle probably transcends a lot.

[01:02:28] Tara Bansal: I, I think that’s the way it should be. I just Wondered and I’m glad to get your, you know, opinion and take.

[01:02:36] Kathryn Kubiak-Rizzone: On it because yeah, I think, you know, it’s the like justificate. Right. We make decisions based on emotion and then we justify it with the numbers. Right.

[01:02:48] And so I think that’s where we’re probably not being honest with ourselves if we don’t kind of acknowledge that. But I don’t lead. I was talking to somebody, oh, one of my clients who’s a coach about this of like most people don’t think what they want is life planning or that’s,

[01:03:07] you know, they’re not going to seek out help in that way. What they are seeking out help in is the numbers.

[01:03:13] And so all of the life planning pieces of it. That’s the just subtle under the surface, you know, kind of behind the scenes. It is the theme through which we’re doing everything.

[01:03:26] But you know, they ask a numbers question and we give them back.

[01:03:30] Yes, the numbers question disguised in or you know, like a life answer disguised in a numbers answer.

[01:03:36] Tara Bansal: Yeah. Carl Richards talks about it like that’s the trickery of they come for like a numbers question or issue but it’s really behind those numbers. What’s.

[01:03:48] Kathryn Kubiak-Rizzone: Yeah, I feel like I, I kind of embody Kitsis and Carl, like I can’t, you know, in within me is the spreadsheet nerd.

[01:03:57] You know that like I come alive to do that just like him. But I recognize that that’s not what people want. And you know, what comes out is.

[01:04:05] Tara Bansal: The, the Carl Richards, which is incredible because that.

[01:04:09] I don’t know. I think the fact that you have both of that.

[01:04:13] I can do the spreadsheets, but I don’t love it. Like I was, you know, an engineer,

[01:04:19] so but for some reason I want to spend way more time on the emotional, softer what do you really want in your life part. And so.

[01:04:30] Kathryn Kubiak-Rizzone: And I think that there’s ways to emphasize that too. Right. If you,

[01:04:34] if that’s truly your calling, then you lean into that and that’s. You’ll attract the people that really.

[01:04:42] Tara Bansal: And. Or you hire or get someone to do the paraplanning or the numbers part that doesn’t want to be client interacting or you know, that’s why I think it is look at what you love and try to do more of that.

[01:04:56] Kathryn Kubiak-Rizzone: I’m really intrigued. I love that the field of financial therapy exists and I would. I don’t want to be a financial therapist in any way. I feel like that’s this, this is the perfect amount of like, yes, we’re Gonna acknowledge your history with, you know, your lived experience and how we all,

[01:05:16] you know, experience money differently.

[01:05:19] And we’re not just gonna, like, that’s not where we stay.

[01:05:25] We then translate that into action steps.

[01:05:29] And that’s.

[01:05:29] Tara Bansal: But I do love that there’s financial therapists that want to do that and dig into that, and I know one who. Yeah.

[01:05:38] So.

[01:05:38] Well, thank you. I appreciate you went. You spent your more time than I, I asked you, but I know I, I really do. We may have to have you back just because I have more questions I want to ask, but.

[01:05:53] Oh, no, thank you, thank you, thank you.

[01:05:57] As you just heard, Katherine and I had an amazing conversation.

[01:06:02] I clicked end recording and Katherine and I kept talking. There was so much juicy stuff that I,

[01:06:11] I said to Katherine, are you okay if I start recording again?

[01:06:15] I did. And here’s the rest of our conversation. Katherine talks more about her process and how she works with her clients.

[01:06:24] I felt like it was of great value.

[01:06:26] Tell me again how much time you spend with your clients and how that breaks down.

[01:06:33] Kathryn Kubiak-Rizzone: Yeah. So when we get started, there’s four initial meetings that I have with clients.

[01:06:37] The first is all around goals, values, and priorities. So I don’t ask for any financial data until I know what’s important to them.

[01:06:46] Tara Bansal: And I agree with that. Like, people want to get the paperwork, and I’m like, no, no, no, we’re not going there. Right?

[01:06:52] Kathryn Kubiak-Rizzone: Like, yeah, yeah, it’s. And it’s glorious. I just, I, I, I have a,

[01:06:56] a survey that I have them fill out that’s really just this inventory that helps to kind of open the door to, like, all the possible planning topics. And I think that it helps.

[01:07:05] Tara Bansal: Before they even come, they do the survey.

[01:07:07] Kathryn Kubiak-Rizzone: It’s the only piece of homework that they have before our first meeting, but it sets the stage for the litany of things that we can cover together.

[01:07:15] And then we talk about the things that are important to them.

[01:07:18] Uh, you know, some, you’ll hear people talk about creating that statement of financial purpose or whatever, but we kind of evoke. There’s lots of ways that people have of evoking,

[01:07:28] just getting people to talk about what matters, and that’s what I care most about. So I start very high level in what matters to them and their values. Without. I, I don’t actually like the idea of a values exercise.

[01:07:40] I find it very hard when I look at.

[01:07:41] Tara Bansal: I do too. I did not, I did that. And I didn’t really enjoy it.

[01:07:45] Kathryn Kubiak-Rizzone: Yeah. So that I’ve, I’ve explored all kinds of things, and this feels very natural. And it just. We’re just talking about what matters, and then we kind of take that and get a little more granular and talk about specific goals that we’re planning for and what retirement looks like and how often you replace your cars and if there’s college or home renovation or whatever.

[01:08:05] Tara Bansal: And that’s still in the first meeting.

[01:08:06] Kathryn Kubiak-Rizzone: Still in the first meeting, yeah.

[01:08:08] So this is kind of where we’re just setting the stage of, like, what do we want is possible? And I love it because I don’t have any idea if these things are possible or not.

[01:08:20] I have not a lick of. I have a hint of their numbers because pricing is based on complexity. So I have a general sense of, like, the range of income, and that’s about it.

[01:08:30] So it’s truly what is important to you. What do you want? You know, if anything’s possible and there’s.

[01:08:36] Tara Bansal: No judgment ahead of time because.

[01:08:38] Kathryn Kubiak-Rizzone: Yeah, right.

[01:08:39] Tara Bansal: I like that.

[01:08:40] Kathryn Kubiak-Rizzone: Then we can kind of see. Only then we put the numbers behind it. And if. If we need to tweak, then we can go from there. So that first meeting is an hour and a half for couples,

[01:08:50] an hour for individuals.

[01:08:53] At the very end of that first meeting, I introduce them to. Right. Capital, the financial planning tool. I walk them through the tasks and where they’ll upload documents and link accounts.

[01:09:03] I’m sure I could do a video,

[01:09:05] but it’s just. I like to do it at the end of the meeting, and I’m not going to send them home with a video to watch. It takes a bit of time, and it’s just a seamless transition.

[01:09:15] You know, if I could have them bring physical documents and we weaned through them together,

[01:09:19] it’s. It’s the closest extent to that, if you will. Right. And so then we. There’s a bunch of time where they’re giving me the,

[01:09:28] you know, answering a question about other financial pieces and connect, you know, putting all the financial numbers behind it.

[01:09:36] And I look through everything, and then we get together in the second meeting or get organized, check in. And that’s where I’m kind of just like, clarifying all the details, filling in the gaps.

[01:09:46] When, you know, the mortgage rate doesn’t transfer in when you link an account or whatever these things are, making sure I truly understand the financial picture.

[01:09:56] Okay, so that’s a much more logistical meeting. It’s 30 to 45 minutes.

[01:10:02] Excuse me. And I’m just now tweaking my process a little bit that I think I’m going to have them start the like risk tolerance piece. At this stage I’ll tell you what I’m currently doing and how I switch it.

[01:10:14] So that’s the get organized. And then is the third meaning is their financial snapshot and action plan. And so that is where I say I liken it to a multi point car inspection or a head to toe physical where we’re looking at all aspects of their finances.

[01:10:29] I give like a red light, yellow light, green light, pulse check on a lot of areas not to overwhelm and add to the laundry list of things that they need to address, but simply to say it’s all, we’re looking at it all, it’s on the roadmap somewhere.

[01:10:42] And then that action plan is very specific. Next steps curated around what you know, whether it’s low hanging fruit or easy things that we can tackle or very important things to make sure that we address to help get them from point A to point B.

[01:10:56] So before that meeting, the snapshot and action plan meeting is when I’ve kind of done all the putting the pieces.

[01:11:03] Tara Bansal: Together to the whole comprehensive plan. So you look at insurance, you look at exactly everything.

[01:11:08] Kathryn Kubiak-Rizzone: Okay. I’ve never really. The firms that I worked for before,

[01:11:12] I didn’t ever see like we didn’t do a plan if you will 1. It was very modular, which I also see the value in, but it would take a very long time to get there.

[01:11:23] And the people that I serve are busy and I feel like I wanted.

[01:11:26] Tara Bansal: To be able to scheduling the meeting.

[01:11:28] Kathryn Kubiak-Rizzone: To the things quickly.

[01:11:30] So high level.

[01:11:32] But I record a video walkthrough of myself kind of explaining this,

[01:11:38] their financial snapshot action plan so that they can process it themselves.

[01:11:43] It takes about 15 minutes to record it.

[01:11:45] Tara Bansal: And is that separate than the meeting? Okay, because I just wondered if you recorded the meeting and they could go back.

[01:11:53] Kathryn Kubiak-Rizzone: No, I record the video walkthrough, send it to them the week before the meeting so they can watch it and jot down questions around details and implementation. Or just, you know, some people want to know more about where things come from.

[01:12:06] A lot of people don’t. They just want to know, okay, what do I do next steps, just all the things. And that way in the meeting we don’t rehash any of that, we just directly can answer their questions, we can explore trade offs.

[01:12:19] You know, it’s like I’m building it around the goals we talked about in the first meeting.

[01:12:24] If they’re not totally feasible, that’s where we can kind of move the levers in play.

[01:12:29] Sometimes we jump into Right capital. Sometimes we don’t. It’s very much dictated by whatever the clients need and I love that because you can hear me talking a ton on this podcast but I tend to try.

[01:12:39] I don’t want to be the one that is talking though as much as they can be leading. That’s what I do.

[01:12:46] Tara Bansal: They walk away with the action item list. Is that in writing?

[01:12:50] Kathryn Kubiak-Rizzone: Yeah. So in addition to the video there is a little PDF of. It’s not quite a one page plan if you will but I have there. You know it’s very.

[01:12:58] Tara Bansal: Pages visual.

[01:12:59] Kathryn Kubiak-Rizzone: I like that all of my colors are in. I think that’s very.

[01:13:03] And people have said that it’s very helpful to just very concise and. But actionable and clear around just kind of. Yeah. What these metrics look like. And so the action plan is spelled out on that PDF that accompanies the.

[01:13:18] Tara Bansal: Video and then the fourth meeting is just follow up on the action items.

[01:13:23] Kathryn Kubiak-Rizzone: What it has been is a deep dive into investment strategy. So really we haven’t talked deeply about investments in.

[01:13:31] Tara Bansal: Until the last.

[01:13:32] Kathryn Kubiak-Rizzone: Until the last meeting where we have the conversation around kind of near term versus long term, what are making sure we have enough allocated for each and the appropriate asset allocation.

[01:13:48] And that’s. It’s in that third meeting that we talk about the social impact. If they have preferences around impact investing in line with their values, we can have that conversation around what that looks like for them.

[01:14:00] Tara Bansal: Yeah,

[01:14:01] this is so fun.

[01:14:04] We’ll do it again because I just know I could talk to you forever. Thank you.

[01:14:09] Here are a few of my key takeaways from the conversation with Katherine.

[01:14:14] First, I really appreciated Katherine’s emphasis that there’s no single quote, best exercise or right way to do something.

[01:14:24] The best is what works for you and what you’ll actually do.

[01:14:29] This is such an important reminder and it applies far beyond fitness,

[01:14:34] to life and to the way we work as financial planners.

[01:14:39] In my life coaching work, I often talk about how only you can know what’s right for you.

[01:14:45] Similarly, there are many ways to build a financial planning practice and many ways to do a financial plan.

[01:14:53] We can’t and shouldn’t give advice until we understand what truly matters to our clients.

[01:15:00] It starts with asking the right questions and helping them clarify their values and goals.

[01:15:07] I also loved Catherine’s use of the phrase thought partner. I’m going to keep that and use it going forward.

[01:15:15] That idea really resonated with me. As planners, our role isn’t to tell people what to do.

[01:15:21] It’s to walk alongside them.

[01:15:24] We’re not above them,

[01:15:26] but beside them,

[01:15:27] offering insight, context, and helping weigh options.

[01:15:31] Yes, we bring knowledge and expertise,

[01:15:34] but we can’t apply that expertise effectively until we understand what they value.

[01:15:41] That’s where our real value lies and what distinguishes us from AI or any technical tool.

[01:15:49] It’s not just about having the knowledge,

[01:15:51] it’s about how we use it to support each person’s unique goals.

[01:15:56] And finally, I have to say I’m in awe of Katherine.

[01:16:00] She’s I think she even described herself as Carl Richards and Michael Kittis in one person.

[01:16:09] Her ability to connect with people on a deeply human level and operate so efficiently with facts, numbers and processes is seriously impressive,

[01:16:19] especially considering she only started her practice a few years ago.

[01:16:24] Katherine is a great example of how powerful it can be to combine heart and head to our meaningful work.

[01:16:33] Her story is just a great reminder that there’s no one best way to build a practice,

[01:16:39] just the path that’s right for you.

[01:16:43] Thank you for listening to Her Life, Her Practice, Her Way a podcast for and about female financial advisors.

[01:16:51] I truly hope you found something valuable and encouraging in today’s episode. If you did, I’d be so grateful if you’d take a moment to rate and review the show on Apple Podcasts or Spotify.

[01:17:04] It helps other phenomenal women in our field find this space.

[01:17:09] And if you know another advisor who would benefit from these conversations or from the kind of support I offer through coaching,

[01:17:17] please send this episode to her.

[01:17:19] If you’re curious about working with me as your coach or interested in being on the podcast, I’d love to hear from you.

[01:17:27] You can find more details and reach out to me on the contact page of my website.

[01:17:33] herlifeherpracticeherway.com no spaces, no underlines, just the word straight in a row.

[01:17:42] Until next time, keep building a life and practice you truly love.

💡 Kathryn’s Recommended Resources:

• Finance for the People by Paco de Leon – an accessible and affirming guide to money

• Activate Your Money by Janine Firpo – for aligning money with values across asset classes

🔗 Links & Resources:

• Kathryn’s firm: About Time Financial Planning

• BLX Internship Program: BLXInternship.org

• XY Planning Network: xyplanningnetwork.com

• NAPFA: napfa.org

• Amplified Planning Externship (formerly FPA Externship): amplifiedplanning.com

• Book: Finance for the People by Paco de Leon

• Book: Activate Your Money by Janine Firpo