• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
    • Moves in the News
  • Tools for Advisors
    • Diamond Consultants Advisor Transition Report 2022
    • NEW – Edward Jones Advisor Transition Report 2022 edition
    • Merrill Information Hub
    • UBS Information Hub
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
      • Kelly Griffiths
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
    • Transition Announcements
  • Tools For Advisors
    • NEW – Diamond Consultants Advisor Transition Report 2022
    • NEW – Edward Jones Advisor Transition Report 2022 edition
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

Podcast

Independence for Financial Advisors

The Rewards and Risks of Independence: A Conversation with Mark Tibergien

Posted by Mindy Diamond

An episode for all members of the wealth management community—from those at wirehouse firms to independent business owners.

Mark Tibergien, the CEO of BNY Mellon Pershing Advisor Solutions, shares his thoughts on the momentum towards independence, the evolving advisor mindset, what it takes to run a successful practice and much more.

Mark Tibergien

There are few people whose knowledge of the wealth management industry can match that of Mark Tibergien—so to have access to this award-winning thought-leader, author and CEO is fortuitous.

Mindy sets the stage for an intense dialogue with Mark about the state of the industry, the independent space and what lies ahead for captive and independent advisors.

Together they discuss:

  • The key differences between captive and independent advisors—and how the desire to become a “true” fiduciary is driving advisor sentiment and movement towards independence.
  • The fundamental changes in the role of the advisor—an evolution from product-advocate to customer-advocate.
  • The evolved role of the custodian—and how it’s grown beyond just asset custody.
  • A look at the RIA space—and the most compelling features that will influence growth and asset flow in the future.
  • The real risk profile of independence—and what advisors need to be aware of before they decide to make the leap.
  • How the business of financial advice has changed—3 key questions that firm owners need to ask themselves.
  • How to build an “enduring” firm—and why planned obsolescence should be a goal of every firm founder.
  • Options for independent firm owners looking to access capital—understanding the real cost of selling equity.
  • What succession planning really means—and where there’s opportunity to create transferable value.

It’s a deep dive into a world that has changed dramatically: where those willing to accept risk and accountability are seeing the highest level of reward. It’s the one episode you don’t want to miss.

 

Podcast: Play in new window | Download (Duration: 43:05 — 39.4MB) | Embed

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


Related Resources

The 5 Attributes That Make a Financial Advisor a “Real” Fiduciary
Wirehouse advisors are recognizing that being a true fiduciary is impossible as an employee—and it’s adding more fuel to the flow of movement to independence. Read->

The Real Beneficiaries of Independence: Your Clients
While advisors have a real opportunity to build the advisory business of their dreams in the RIA space, it’s the clients who stand to gain the most. Read->

Why Advisors and Their Affluent Clients are No Longer Looking the Other Way When it Comes to Independence
As advisors make the move to independence, their high net worth and ultra-high net worth clients reap the benefits of a more personalized approach. Read->

What compels breakaway advisors to go around “the wall”?
Despite significant risks and roadblocks in front of them, breakaway advisors don’t stop. Why? Read->

 


 

About Mark Tibergien:

Mark Tibergien is Chief Executive Officer of Pershing Advisor Solutions, a BNY Mellon company. Pershing Advisor Solutions is one of the country’s leading custodians for registered investment advisors and family offices. Mark is also a Managing Director for Pershing and a member of its Executive Committee. In addition, Mark was named to BNY Mellon’s Diversity & Inclusion Advisory Council to the CEO.

Prior to joining Pershing in 2007, Mark was a principal at the accounting and consulting firm, Moss Adams LLP, where he was partner-in-charge of the Business Consulting group, chairman of the Financial Services Industry group and partner-in-charge of the Business Valuation group. Previously, he was president of a nationally recognized bank and business training and consulting firm, a principal in an investment management and business valuation firm, a writer for a financial trade magazine and a general assignment newspaper and radio reporter.

Mark has worked with public and private companies on matters related to business management, transition planning and strategy formulation since 1976. This includes hundreds of independent registered investment advisors, broker-dealers, investment managers, insurance companies and other financial services organizations in the United States, Australia, Europe, the Middle East and Canada.

In a 2017 Investment Advisor survey, Mark was named The Most Influential Person in Financial Services, with almost half of respondents voting for him. For his contributions to the industry, Mark was named to the 2016 InvestmentNews’ Icons & Innovators list which recognizes those who have shaped and transformed the financial advice profession. In 2015, Private Asset Management magazine honored Mark with a Lifetime Achievement Award for his dedication, commitment and achievements in the industry. Mark has been recognized 14 times by, Investment Advisor (IA) magazine as one of the “25 Most Influential People” in the financial services industry and, in 2016, IA ranked Mark as number one in the “Top 7 Most Honored People in IA’s 25 History.” Mark received the 2015 Insiders Forum Leadership Award, and was named to the 2012 InvestmentNews “The Power 20” list. For eight consecutive years, Accounting Today recognized Mark as one of the “100 Most Influential” people in the accounting profession.

He is the author of four books published by Bloomberg Press (John Wiley & Sons), Practice Made Perfect, How to Value, Buy or Sell a Financial Advisory Practice, Practice Made (More) Perfect and the latest, The Enduring Advisory Firm, co-authored with Kim Dellarocca, Global Head of Marketing for Asset Servicing and Technology at BNY Mellon. Mark has also been a regular columnist for Investment Advisor magazine and monthly contributor to ThinkAdvisor.com on management issues since 2005.

Mark has previously served in a variety of community and industry organizations including the Rotary Club of Seattle, Travelers Aid Society, the Foundation for Financial Planning, the International Association for Financial Planning and the SIFMA Foundation. Most recently, Mark was named to the Advisory Council for the Center for Financial Planning whose mission is to promote diversity in the advisory profession.

 


This podcast is also available on…

Mindy Diamond on iTunes           Listen on Google Play Music           Diamond Consultants Podcast on YoutUbe

 

Browse other episodes in this podcast series…

You may also be interested in...

Share
0

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...

    Subscribe to the Series

    Get updated by email when a new episode is added.


     

    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.

      Daniel Gude
      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

     

    Other Recent Episodes

    • From Cold-Calling to $500mm Breakaway: A Former Merrill Advisor’s Team-Based Approach to Growth
    • Financing Independence: A Lender’s Perspective on Breakaway Transitions, M&A and Succession
    • Two $10mm Teams Leave the Wirehouse World in One Week: An Industry Update on Advisor Transitions
    Independence 101 The Basics for Advisors
    Feedspot Top 35 Podcasts for Financial Advisors
    We're available to answer your questions. Contact us

    Connect with us

    Search

    © 2023 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

    • Leading Financial Advisor Recruiting Firm:
    • About
    • Services
    • FAQs
    • Articles
    • Podcast
    • News/Media
    • Tools/Resources
    • Contact
    • Our Locations
    • Privacy Policy
    • Site Map