By Mindy Diamond – Most wirehouse advisors consider themselves fiduciaries. That is, in practice, they make every attempt to put clients first and make all decisions with their best interests in mind. But in reality, while the advisor’s mindset and heart may be in the right place, the very nature of working for a brokerage firm makes it impossible to be a true fiduciary.
Gil Baumgarten, President and CEO of Segment Wealth, joins Mindy to discuss how, in the 8 short years since he launched his RIA firm, he has more than doubled his assets under management, quadrupled his take-home pay and created a “much better business” for himself and his clients. It’s a story about the growth potential of an RIA and the satisfaction that comes with it.
Alex Goss of Goss Advisors speaks with Louis Diamond about his path to independence, starting in the wirehouse world, then on to the independent broker dealer (IBD) space before launching his own firm, now a leading platform for prospective advisors. [podcast]
In this podcast episode, Jim Dickson, Founder and President of Sanctuary Wealth Partners, shares the inside track on what it was like to be in a senior role in the wirehouse as bureaucracy was on the rise, and why he left behind his 20-year career to build an independent firm.
October 11, 2018 – Mindy Diamond Mentioned – By Rita Raagas De Ramos, Financial Advisor IQ – Financial advisor Gary Hirschberg has left Goldman Sachs – where he was responsible for $1.4 billion in client assets – to launch his own independent practice, Aaron Wealth Advisors. Chicago-based Aaron Wealth Advisors, which will target high net worth investors and their families, is the 47th firm to join the RIA network of Dynasty Financial Partners.
Mindset, Motivation and Momentum: What’s really driving all the movement to independence with David Canter, Head of Fidelity’s RIA Segment
Fidelity’s David Canter provides an inside perspective on why independence continues to be the hottest ticket in town, and what we can expect for the RIA space going forward. [podcast]
In this podcast episode, special guests Bill Loftus of Coastal Bridge Advisors and Mark DuPont of Focus Financial Partners provide an “outside-in” look at how a capital partner helped this team make the leap to independence in 2008, and share the story behind the amazing success of this RIA.
What’s Driving the Momentum Towards Independence – And Will it Continue? A Conversation with Shirl Penney, Dynasty Financial Partners
Shirl Penney, President and CEO of Dynasty Financial Partners, joins Mindy in this episode to share insights from his own unique entrepreneurial mindset and vast industry knowledge and experience as the founder of Dynasty. They discuss the momentum towards independence and what it takes to get from here to there. [podcast]
The very millennial reason Shirl Penney snagged Merrill Lynch’s 34 year-old Ayco-killer and his $1B team and why Focus Financial lost out
July 31, 2018 – Louis Diamond Quoted – By Brooke Southall, RIABiz – It’s one of Shirl Penney’s most sparkling recruiting triumphs and one of Merrill Lynch’s more excruciating poaching losses. A team of mostly millennials broke away to become an RIA with nearly $1 billion in assets. Michael Henley, 34, and only nine years into his career, signed on with Dynasty Financial Partners — where Penney, 41, presides as CEO — to form Wyeth Private Wealth in Chadds Ford, Pa.
June 11, 2018 – By Ravie Lakshmana, OnWallStreet – A former UBS team overseeing $340 million in client assets has joined independent firm Kestra Private Wealth Services, in what’s the latest move in a series of advisors departing the wirehouse for smaller, regional rivals.
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