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Podcast

For Financial Advisors

Ask the Breakaways: 3 Advisors Answer Your Questions About Making the Leap

Posted by Mindy Diamond

A conversation with Terry Cook of Parcion Private Wealth, Lori Siegel of Centrix Wealth Partners and Michael Henley of Brandywine Oak Private Wealth

Podcast link available below…

After more than 130 episodes of the show, one of the most common responses we’ve received from listeners is that they want to learn more—particularly when it comes to interviews with breakaways.

That is, more about specific aspects of the advisor’s journey, as well as what they gained or lost on the independent side.

So we saved some of the questions that listeners have asked over the past year, then sent out a survey via social media and email to find out what others might want to learn.

After reviewing the submissions, we got our team together, looked at some of our most popular breakaway episodes and narrowed it down to three individuals who represented unique stories, client types and paths to independence.

The result is this special episode – delivered in both audio only and video format – featuring a panel of three brilliant advisors who graciously took the time to dig into the details of their journeys: Merrill breakaway Michael Henley, founder and CEO of Brandywine Oak Private Wealth; UBS breakaway Terry Cook, CEO of Parcion Private Wealth; and UBS breakaway Lori Siegel, founding partner of Centrix Wealth Partners.

  • Each opted for different paths to independence—Lori joining the independent arm of Raymond James, Michael launching his own RIA with the assistance of Dynasty Financial Partners and Terry choosing also to launch his own RIA but taking more of a “do-it-yourself” route.
  • Each started their journeys at different asset levels—Lori at $300mm, Michael at $900mm and Terry at $1.3B—and have experienced extraordinary growth since their leaps.
  • Each have different client niches—Lori working with high net worth clients, Michael primarily corporate clients and Terry with business owners and entrepreneurs.
  • Each had different motivations behind their leap—yet shared similar goals.
  • And while each have different views of some of the nuances of business ownership, one thing they all agree upon: Independence was the absolute right path for them.

They answer all your questions and more (and since we promised complete anonymity, you won’t hear your name announced but you may recognize your question).

So listen in – or watch – this exclusive episode.

Podcast: Play in new window | Download (Duration: 1:12:45 — 99.9MB) | Embed

Subscribe: Apple Podcasts | Google Podcasts | Spotify | Amazon Music | Pandora | iHeartRadio | Stitcher | Podchaser | TuneIn | Deezer | Anghami | RSS

Download a transcript of this episode…

Related Resources

The Wealth Management Landscape At A Glance
What Financial Advisors Need to Know. Read->

Optionality Under One Roof
For Advisors Who Aren’t Quite Ready for Independence. Read->

The Limitations of Building a Billion-Dollar “Boutique Firm” within a Wirehouse
A conversation with Terry Cook, CFP®, CIMA, Managing Partner of Parcion Private Wealth. Listen->

Controlling My Destiny: Insights from a $300M UBS Breakaway
A conversation with Lori Siegel, Founding Partner of Centrix Wealth Partners. Listen->

A Diehard Merrill Advisor’s Journey to Independence
With Michael Henley of Brandywine Oak Private Wealth and Louis Diamond of Diamond Consultants. Listen->

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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    WHAT OUR LISTENERS ARE SAYING…

    • Your podcast helped me a ton during my due diligence. There is no replacement for hearing from others who were successful leaving the wires. You are doing great things for the industry.

      Rory O’Hara
      Founder, Senior Managing Partner – Ausperity Private Wealth
    • A fantastic bundle of wisdom from one of the very best Curators of all things Wealth Management.

      Jim Dickson
      Founder - Sanctuary Wealth
    • I love the fact that you are talking a diverse group of people in our industry and educating us all. We are all doing our own thing, so it’s helpful listening to other interviews and hearing about different approaches to the business.

      Brock Moseley
      Founder, Miracle Mile Advisors
    • I didn’t realize what I could do until I heard what other advisors were doing. Then week after week, it was like the gaps were filled in. Without it, I wouldn’t have had the confidence to go independent. Even after transitioning, I still can’t wait for Thursday mornings to hear the latest interview.

      Jerry Davidse
      CEO, Presilium Private Wealth
    • Best new resource I have come across in a long while.

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      Senior VP at LPL Financial
    • I would say one of the best things I ever did was listen to your podcast. I listened to it a thousand times. There are so many aspects to explore. You’re driving blind until you actually engage a professional.

      Michael Henley
      Founder & CEO, Brandywine Oak Private Wealth
    • Fantastic Podcast and a must-listen for anyone considering Independence!

      Robert Walter
      President, Sanctuary Wealth
    • This is outstanding. Every team considering independence should listen.

      Chris Cooke
      Managing Partner, Cooke Financial Group
    • Every advisor at a brokerage firm should listen to this podcast. I’m convinced that most advisors don’t realize their real value. Do your research. You deserve your true value and going out on your terms. It’s your life’s work. Even if you don’t transition to independence, know your value and options in order to make an educated decision.

      Robert Harris
      Senior Wealth Advisor, Avidian Wealth Solutions

     

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