Join Mindy and Louis Diamond on a journey to explore this evolving industry landscape. Along with guests including industry leaders and breakaway advisors, they discuss various models from the wirehouses, regional firms, broker dealers on through to independence. Plus they offer comparisons between different types of independent models including supported independence, independent broker dealers (IBDs), registered investment advisors (RIAs), and hybrid RIAs. And share some practice management advice along the way.
The goal of this series remains: To dispel some myths, share some facts, and help advisors get better educated on the options available without any concern over confidentiality or obligation. Be sure to subscribe and stay up-to-date.
Advisors have been busy managing client expectations as the market has taken them unwittingly on a wild roller coaster ride. And this uncertainty is an inconvenient truth of the wealth management business. That is, some days it’s up, other days it’s down. But what of those who have been thinking that their firm may no longer be the right partner for their business? How do they know if now is the right time to explore their options? And if not now, when? This episode explores those answers and more. 
Listen…
When advisors are limited by what they can do for their clients, they are confronted with a choice: Live with the status quo or consider a path that would expand their ability to serve clients and grow the business on their own terms. Kelly Milligan and his team were met with the same decision and opted for the latter. In this episode, the former ACTM Chair discusses his role on Merrill’s esteemed advisory group, the change in culture at the firm and how that motivated him and his team to launch independent firm Quorum Private Wealth one year ago, and much more. Listen…
Phil Fiore and his team realized that working at UBS limited their ability to grow and offer customized services to their primarily institutional client base. They had a desire to expand their footprint and take advantage of inorganic growth opportunities. 5 years later, he looks back on launching Procyon Partners with Dynasty Financial Partners. Phil discusses the unique requirements of institutional clients vs. private wealth clients; the limitations that prevented his team from serving their clients optimally from within a wirehouse structure; the breadth of opportunity they realized in independence; plus Procyon’s extraordinary success in M&A—and much more. Listen…
The real impetus behind a move should be to improve client service—because it’s the clients who ultimately drive business growth and value, so doing right by them is imperative. But without communicating “what’s in it for them,” your clients may never understand the positive impact the change can bring. This episode explores how to best identify the “why” of your move and communicate that to your clients. Listen…
In this annual digest of some of our best interviews of the year, we take a step back to glean the key lessons candidly shared by advisors who demonstrated unstoppable determination and whose stories contained valuable and relatable lessons for all. These recent breakaway advisors and independent business owners share their motivations to consider change; why they chose independence; their ability to serve clients and grow their businesses; and much more. It’s a “best of the best” show—a single episode that offers key insights from the 2021 season of one of the top podcasts for financial advisors. Listen…
