Ep #296: Transitioning an Established Practice to Fee-Only: A Conversation with John Mason and Tommy Blackburn

XYPN Radio

We’re excited to have John Mason and Tommy Blackburn on the show today. John and Tommy are partners at Mason & Associates, a fee-only firm out of Newport News, Virginia. Tommy and John are friends, first and foremost, but also business partners, both working at a firm that John’s uncle and father started together in the early 80s.

Today, the firm serves over 400 clients, a majority of whom are federal employees. John and Tommy talk about what it was like to transition the business from a broker-dealer into an independent firm, a transition they spearheaded just last year. John and Tommy reflect on what they gave up but, more importantly, what they gained by moving away from the broker-dealer structure. They share some sage advice about how preparation can be your best friend in a transition like this. John and Tommy also have a radio show together on their local radio station, and they discuss how radio marketing is a primary lead source for them and how it enables them to further their mission by expanding their reach and impact.

If you’re interested in what it’s like to transition an existing firm into the fee-only space and to do it with a dear friend, then this show is for you.

You can find show notes and more information by clicking here: http://www.xyplanningnetwork.com/296