#29767 Fw: A few more questions
Resolved
Created Oct 18, 2024, 6:52 PM
Resolved Feb 19, 2025, 1:24 AM
System (internal)
Oct 18, 2024, 6:52 PM
Check-in (internal)
Oct 18, 2024, 6:52 PM
Peet-- See Guy's responses to a few questions below. It does sound like I could keep my own email domain and just set it up to their archiving service, which I think means I can keep the whole 365 subscription? You were right that I am not an "employee"... JT --------------------------------------------------------------- From: Guy Penn <[email protected]> Sent: Friday, October 18, 2024 12:37 PM To: Jill Tripp <[email protected]> Subject: Re: A few more questions Hi Jill, happy Friday! Yes I'm happy to chat with your IT person anytime. We use Outlook for just the basic email and calendar parts, but some folks here get the full Word/Excel/Etc package on their own machines if they want. Some prefer Google docs etc, so we're pretty agnostic about documents. For branding, you are free to keep your domain and full control over it. From a compliance standpoint, we just need to have a journal established to archive emails, that's an easy process we're happy to set up. Here's an overview of tech pieces we cover: https://www.corepln.com/core-systems more on tech: we do cover Portfolio Visualizer, but it is branded with core planning on the forms if that's OK. In terms of other tech, each of us does license our planning software, most are using Right Capital. We also each cover our own Wealthbox subscription, but we get a substantial group discount at $40/month for the pro version. Generally, we cover the rest, other than some ancillary things like Zoom, Calendly, or other productivity tools you might like to have. We each use own computers, and access our software applications through a single sign on app vault that keeps it all secure. We are each self emploed 1099 contractors, which works well for us in terms of business expenses flowing to our personal Schedule C. As IARs, we are considered supervised persons, but that supervision is limited to upholding compliance standards, so we are not considered employees. I hope that helps a bit, but certainly put me in touch with your IT person, I would be happy to coordinate and help make everything a smooth transition. chat soon! Guy [www.gmpenn.com](http://www.gmpenn.com/) --------------------------------------------------------------- From: Jill Tripp <[email protected]> Sent: Friday, October 18, 2024 1:04 PM To: Guy Penn <[email protected]> Subject: Re: A few more questions Hello Guy. Happy Friday to you. I'm starting to dive into some of the logistics of winding down Stewart & Associates and joining up with Core Planning. I had a phone conference with my IT professional this morning and he of course had a million questions that I couldn't answer (I'm still not fluent in "tech-geek" as hard as I may try). Some of the most basic: If I go the "branding" route and have my own brand/website, can I have my own email domain/address? Or do you I have to use CP address for compliance/archiving reasons? How do I access other 365 apps (other than email/calendar)—do the other advisors subscribe to those on their own? Do you have a list of exactly which parts of the tech stack are part of the revenue agreement with CP and which parts I'll need to purchase on my own (it sounded like Right Capital for sure, but are there others? What about Portfolio Visualizer?) I was assuming that I bring my own computer? Is that true? Being paid via 1099...am I an employee or a contractor? I know from a regulatory perspective that I would be a supervised person—does that make me an employee? Is there someone that my IT consultant can talk to in-depth about the specifics? He wants to try to help me transition and get set up properly, but I think will have some high-level questions... Thanks, Guy! --------------------------------------------------------------- From: Guy Penn <[email protected]> Sent: Wednesday, October 16, 2024 5:38 PM To: Jill Tripp <[email protected]> Subject: Re: A few more questions Can't wait, and yes, you're welcome here with open arms! You operate from a place of integrity and bring so much to the table because in this type of community setting, your expertise can make such an impact for others. I'm here to talk anytime 🙂 Guy [www.gmpenn.com](http://www.gmpenn.com/) --------------------------------------------------------------- From: Jill Tripp <[email protected]> Sent: Wednesday, October 16, 2024 5:44 PM To: Guy Penn <[email protected]> Subject: Re: A few more questions Well, you just keep coming up with the right answers, Guy! Thanks for the quick reply. I think I'm ready to say "officially" that I'm going to be making this change to my practice at the end of this year and joining Core Planning (assuming you'll have me!) I'm getting excited about it! Let's talk soon about next steps. Jill --------------------------------------------------------------- From: Guy Penn <[email protected]> Sent: Wednesday, October 16, 2024 4:08 PM To: Jill Tripp <[email protected]> Subject: Re: A few more questions I agree! There's a lot to prep and consider in these beginning stages and we can take them slowly one at a time. These two questions are among my favorite because they really speak to who we are. We make sure to spell out very specifically in the IAR agreement that Core makes no claim to client relationships and there is no Non-compete or Non-solicit. Each practice is owned by the advisor and each advisor is free to move. It's our hope and mission that we are the best possible place to be, but it's up to us on delivering that. We have no desire to be bought, merged, or acquired by a larger company. This is one of the reasons we implemented a 'cap on advisor contribution.' That means we are not intended to be a profit center, but a place where advisors can be most profitable. Our intermediate plan over the next few years to get a large portion of the core planning equity into hands of the advisors here. That would solidify the notion that we are not meant to sold to a third party. Sorry for the long-winded reply, lol! But these are topics important to me and I enjoy expressing them. Looking forward to chatting again anytime. always here for you Guy [www.gmpenn.com](http://www.gmpenn.com/) --------------------------------------------------------------- From: Jill Tripp <[email protected]> Sent: Wednesday, October 16, 2024 4:42 PM To: Guy Penn <[email protected]> Subject: A few more questions Hello Guy! I hope your week is going well so far. I've been doing more legwork and research this week regarding my potential business change and have checked in with my banker, my landlord and my former business partner...phew! Everything still looking good from my end of things. A couple more questions that I've come up with in recent days: - Is there are any non-compete clause I would be required to sign, or anything that would prevent me from leaving and taking my clients with me down the road? (Not planning to leave already, just trying to make sure I've covered worst-case scenarios!) I know you mentioned keeping Right Capital subscriptions separate, partly because of this type of situation, so I'm guessing I know the answer, but probably shouldn't assume anything. - Do you envision that Core Planning could/would ever be bought out by a larger firm? That's it for now. Continuing to slowly move forward on this, along with doing my "day job." 🙂 Talk soon, Jill
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Feb 19, 2025, 1:24 AM
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