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Podcast

Independence for Financial Advisors

The Top 7 Turnkey Models that are Rocking the Independent Landscape

Posted by Mindy Diamond

Comparing and contrasting some of the most popular options available to breakaways with special guest Louis Diamond

Captive advisors who seek greater freedom and flexibility are lucky to have an industry landscape where so many high-quality independent options exist—with new ones being born every day. But with this expanded waterfall of possibilities comes waves of confusion, leaving advisors scratching their heads when attempting to discern between the various models and options in the space.

Advisors considering independence often find themselves trying to answer:

  • What’s a service provider?
  • What’s a platform firm?
  • What’s quasi-independence?
  • What’s the difference between having your own ADV and being part of a joint one? And why does it matter?
  • How do firms like Rockefeller Capital Management, Sanctuary Wealth Partners and Dynasty Financial Partners differ?
  • And many more frequently asked questions.

Louis Diamond - Diamond Consultants

Louis Diamond joins Mindy to answer these questions and others, with a goal of imparting some order and providing actionable information to help you better understand where all of the pieces fit.

Together they review the evolution of various models, with a closer look at the new world order. You’ll learn how 7 of the most popular options came to be, what their visionary creators set out to solve for and which advisors are best suited for them.

It’s an episode that will help advisors differentiate between options which offer more guardrails and those that provide the highest levels of freedom and flexibility.

Listeners will also learn how to focus their efforts through a series of thought-provoking questions, designed specifically for advisors considering how to best outline their next chapter.

 

Podcast: Play in new window | Download (Duration: 16:28 — 23.3MB) | Embed

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Episodes Mentioned

Quasi-Independence: The Sophisticated Independent Model that Offers the Best of All Worlds
Many advisors who explore full-on independence find that it’s just too much of a leap. For those folks, the quasi-independent space may be just the ticket. Listen->

A Best-of-All-Worlds Model: Full-Service Independence with Equity Upside
A Conversation with Jim Gold, CEO and Founding Partner of Steward Partners. Listen->

Rockefeller Capital Management Demystified
A Conversation with Chris Dupuy, Managing Director and Chief Operating Officer. Listen->

What’s Driving the Momentum Towards Independence and Will it Continue? With Shirl Penney, Dynasty Financial Partners
An insider’s guide to what it takes to get from here to there in the independent space. Listen->

How This Former Merrill Insider Once Drank the Kool-Aid, Then Set Out to Build a Better Toolbox
A Conversation with Jim Dickson, Founder and President of Sanctuary Wealth Partners. Listen->

How a Legacy Merrill Team Experienced 600% Growth in 10 Years
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 RIA make the leap to independence—and achieve amazing results. Listen->

Other Related Resources

Independence Isn’t Just for the Most Entrepreneurial Advisors
While you don’t need to have Jeff Bezos’ or Mark Zuckerberg’s level of entrepreneurial spirit, there are some key characteristics that most successful independent firm owners possess. 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->

Quasi-Independence: The Super-Sophisticated Boutique Model Taking the Industry by Storm
It’s safe, flexible and worthy of your consideration—even though some of the names may not be all that familiar just yet. Read->

The Rockefeller Effect: Why the Multi-Family Office Model Has Become the Talk of the Industry
What is it about Rockefeller Capital Management – and other firms like it – that’s driving such a high level of interest amongst the industry’s elite? Read->

 

 

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…

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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.

      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

    • 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
    • Advisor Transition Report: An Update on Advisor Movement Over the Course of 2022
    Independence 101 The Basics for Advisors
    Feedspot Top 35 Podcasts for Financial Advisors
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