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Disrupting the TAMP marketplace with a flat-fee offering – An interview with Scott MacKillop of First Ascent Asset Management

XY Planning Network Podcast

By Alan Moore | March 21, 2017

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An Interview with Scott MacKillop

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You know we’re all about disrupting marketplaces here at XYPN, so we’re thrilled to bring you this week’s interview with Scott MacKillop of First Ascent Asset Management. Scott is blowing up industry norms on the asset management side of financial planning, freeing his firm from the legacy data that holds others back.

Scott talks about what pushed him to start his own firm after helping get several other small firms off the ground. He shares his thought process about the flat-fee model that First Ascent uses and why there’s less incentive today to use an AUM fee structure. Scott also explains how they plan to scale over time and some of the pushback they’ve faced in the industry.

We also dig into how technology is streamlining so much of the back office work in financial planning. Since Scott’s firm can outsource much of the administrative work, they have more time to focus on excellent client service. He also shares why they built their own account-opening software and how they manage growth without compromising service.

Listen to the Podcast