Hayden Hughes, the 11-year old son of Ryan Hughes, interviews his father during the COVID-19 quarantine. We begin the episode with Ryan asking Hayden what his experience has been like during the lockdown period and if he thinks at all about finance (the answer is no, of course). Then Hayden flips the script and interviews his father with a list of unscreened questions.

You are all in for a treat as we get to experience the world through the eyes of a very inquisitive 11-year old boy. Enjoy.

Outline of this Episode

• [0:43] Hayden Hughes
• [1:15] Hayden's Quarantine Experience & Life of an 11-yr old
• [5:37] Purpose of Financial Advice
• [7:16] Why Start Bull Oak Capital?
• [9:05] Why Do Clients Choose To Work With You?
• [10:18] What Was Your Biggest Business Mistake?
• [13:36] How Do You Keep Your Clients Happy?

Hayden's Quarantine Experience

Hayden does not like being in quarantine, but he enjoys his weekly bikes rides with his family to pick up a pizza. He is also an independent studier, so his mother doesn't have to spend too much time helping him with his school work. 

If Hayden had all of the money in the world, he would cure COVID-19 and save the rest of the money. 

Purpose of Financial Advice

The purpose is to help people make better financial decisions. Some don't need help while others are do-it-yourselfers. Though, the ones that do need help want to make smart financial decisions, they just might not have the time nor the patience to do it on their own. 

As your financial life becomes more complicated, you need the help of a financial advisor.

Why Did You Start Your Own Business?

I wanted to do my own thing and on my own terms. I enjoy running my own business because I get to help out my clients the way that I think is the right way. 

Some financial planning firms have major conflicts of interest and I did not want to be a part of this. 

Why Did Your Clients Decide To Work With You?

When a client chooses to work with Bull Oak Capital, they are not necessarily signing up with the firm, they are choosing to work with Ryan Hughes. And what makes me different is that there's only one Ryan Hughes. Nobody can replicate my experience, my education, or my philosophy on the capital markets. 

I structured Bull Oak Capital to be different from the competition. The way we approach financial planning and our investment philosophy is different. But at the end of the day, my clients are working with Ryan Hughes. 

What Was Your Biggest Business Mistake?

I started my career at Merrill Lynch at their Beverly Hills office in 2007. I was a junior partner on a team that managed over $1B. My daily commute was about 3 hours (1.5 hours each way). During that time period, Hayden was born, which also happened to be during the height of the Great Financial Crisis. At the time, I did not know if Merrill Lynch was going to survive (Bank of America ended up buying the firm in 2008). I also knew that I wanted to be a father that was always there for his children. So, I panicked and left the firm to join Morgan Stanley branch 5 minutes from my home. 

In the end, I took a major step backward and left a great team. But, the move also prompted me to go to business school (UCLA Anderson), which ultimately allowed me to start this firm. 

How Do You Keep Your Clients Happy?

When clients join this firm, they have certain expectations. My job is not only to meet those expectations but to also exceed them. Whenever a client calls or emails me, they expect a certain level of service. 

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