Core Planning Firm Featured Interview With Founder Guy Penn

“During the pandemic, Guy Penn founded Core Planning, a 30-advisor strong roll-up RIA firm. It was created to be a horizontal group of advisors who can share ideas and resources while operating their own branded practice, a "community RIA."

Guy's description: "It's an artists' and farmers' market where everyone has their own tent, their own craft, and are building what they are proud of - but we share a parking lot."

Guy is a glass artist (see his work below). His ingenuity led to the formation of what could possible be the multi-advisor RIA firm model of the future.

Core Planning operates in direct opposition to how RIA "roll ups" typically work. They have a written culture code expressing the firm's values that is published on the internet. Says Guy, "We all have this idea of true generosity because we are going to need it sometimes."

Each client's information is kept confidential by the advisor but they are generous and transparent with each other and share how they operate. There is total transparency with the business model - Guy feels that if another firm were to copy what he is doing, it would help the profession. There are 30 advisors located virtually.

Opposing growth for growth's sake, they aim to keep the RIA firm small on purpose. During Guy's presentation, the words that kept coming up were "integrity", "efficiency (instead of profitability), "fun problems to solve", "community", "simple", and "farmer's market."

Guy's story serves as evidence that you can grow your own way. You don't have to grow in the broken way that the industry dictates.

Through modesty, making thoughtful decisions, and having the right people on your team, you can make your RIA firm work according to your own philosophy and values.

This was intriguing and if enough advisors did this it would change the world.”