Matt Schuberg

Founder and CEO, Planned

In this conversation, financial planner Matt Schuberg shares insights with Siddharta on his journey and approach at Get It Planned. Born and raised in Southern California, Matt's financial career evolved from cold sales to focusing on helping individuals in their growth phase. Differentiating his practice, Matt emphasizes spending and cash flow for clients with fewer assets. He underscores the importance of controlling what is manageable in today's complex world. Matt discovered Sora through the XY Planning Network and values its unique approach to simplify and add value to client debt management. His overarching advice is for individuals to educate themselves on financial matters, enhancing decision-making for a more secure future.

Full transcript below:

Siddhartha: Matt, welcome aboard. We have Matt Schuberg with Get It Planned. Maybe you can start off by telling us a little bit about yourself and your firm. How did you get started?

Matt: Thanks for having me. I appreciate you guys doing this with me. It'll be fun. I'm born and raised in Southern California, specifically Ventura County. I got into finance right out of college as an intern with AXA advisors. After finishing college, I went full-time and took the cold sales route, going to local campuses to set meetings. I struggled initially, so I decided to go back to school for my MBA. After that, I re-entered the industry, working for an advisor and a team to learn the business before building my own clients.

I worked for various firms, focusing on the higher net worth space, but it wasn't as enjoyable. I wanted to work with people more my age, in similar life stages. So, I started Get It Planned to help those who haven't had access to financial planning before.

Siddhartha: What motivates you in your role today to do what you do here?

Matt: Throughout my life, I've had a genuine interest in personal finance. Friends often approached me with questions, and I enjoyed helping them. I've always loved assisting people and answering financial questions, especially for friends who live paycheck to paycheck. Helping them improve their situation, enjoy life, and accomplish their goals is what motivates me.

Siddhartha: Jumping gears to focus on your practice today, how do you differentiate your practice, and what's your philosophy?

Matt: I focus on a different type of client than the typical advisor. Instead of concentrating on investments, I prioritize my clients' spending and cash flow, aiming to increase the gap between what they earn and spend. This is a more significant value-add, especially for clients in the growth phase who don't have substantial assets yet. I also emphasize comprehensive planning, including insurance, taxes, real estate, and debt.

Siddhartha: How did you come across Sora, and how do you think about incorporating liability management and planning into your practice?

Matt: discovered Sora through the XY Planning Network live conference. Your presentation intrigued me with its unique concept and focus on simplicity. Addressing the debt side is often overlooked, but it presents opportunities for clients to save money or improve their financial situation. It's a unique way to add value, and I'm always looking for new ways to do that.

Siddhartha: If you were speaking to a client or potential client, what are the most important things you would share with them right now?

Matt: In today's world, focus on what you can control. The external factors can be overwhelming, but concentrating on what you can control significantly improves your financial situation. Also, educate yourself on financial topics. I want clients to understand the "why" behind recommendations, empowering them to make informed decisions and improve their decision-making skills.

Siddhartha: What are you reading, watching, or listening to these days?

Matt: I focus on the behavioral side of financial decision-making, delving into the psychology of financial planning. Understanding why we make certain decisions and addressing habits plays a huge role in finance. I believe that, no matter how good a financial plan is, it's worthless if the person isn't implementing the advice. So, I've been focusing on the behavioral side of it.

Siddhartha: Anything else you'd like to share with clients, potential clients, or others in the industry?

Matt: My biggest suggestion is to learn as much as you can. Even if you delegate, understanding what's happening with your money is crucial. Maximizing and optimizing your finances can provide more freedom and flexibility. The better you understand it, the better your decision-making will be, the more freedom and flexibility that'll give you. So, I think the better you understand it, the better your decision making will be, and the better off you'll be. So, that's my biggest tip to give.

Siddhartha: Fantastic. Well, Matt, thanks so much for joining us and sharing a little bit about yourself and your firm, Get It Planned. For those interested, you can find more about Matt at getitplanned.com. Thanks again, Matt. Really appreciate it