Getting Unstuck: How to Change “What If” to “What Could Be”

The Diamond Podcast for Financial Advisors

Kandungan disediakan oleh Mindy Diamond Financial Advisor Recruiter and Consultant and Mindy Diamond Financial Advisor Recruiter. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Mindy Diamond Financial Advisor Recruiter and Consultant and Mindy Diamond Financial Advisor Recruiter atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

Cloud Realities

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CR093: Role of AI/Gen AI in cybersecurity with Corence Klop, Rabobank 44:18

10 days ago44:18

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Senarai

Suka

Disukai

44:18

AI and Generative AI are transforming cybersecurity by enhancing threat detection and response. These technologies offer unmatched accuracy and efficiency, making them crucial for protecting sensitive data. As cyber threats evolve, integrating AI into security strategies is essential. This week, Dave, Esmee and Rob talk to Corence Klop, CISO at the Rabobank, about the expanding role of AI and Generative AI in cybersecurity, and how to begin integrating these technologies into your organization. TLDR 04:45 Rob is confused about wrong AI information for a hotel booking 08:20 Conversation with Corence 33:40 How can you identify the state of flow for your end-user in agile practices? 40:50 Going to the swimming pool and disco with your daughter Guest Corence Klop: https://www.linkedin.com/in/corenceklop/ Hosts Dave Chapman: https://www.linkedin.com/in/chapmandr/ Esmee van de Giessen: https://www.linkedin.com/in/esmeevandegiessen/ Rob Kernahan: https://www.linkedin.com/in/rob-kernahan/ Production Marcel van der Burg: https://www.linkedin.com/in/marcel-vd-burg/ Dave Chapman: https://www.linkedin.com/in/chapmandr/ Sound Ben Corbett: https://www.linkedin.com/in/ben-corbett-3b6a11135/ Louis Corbett: https://www.linkedin.com/in/louis-corbett-087250264/ ' Cloud Realities' is an original podcast from Capgemini…

about a year ago 53:40

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Advisors often face the fear of the unknown, feeling dissatisfied but stuck in “what ifs.” Erin Rocchio, coach and Managing Partner at Evolution, joins Mindy Diamond to share strategies that help advisors break free of this inertia, acknowledge fear, and open their minds to transformational change.

301 episod

#Trading #Business #Mindy Diamond - Financial Advisor Recruiter and Consultant #Mindy Diamond - Financial Advisor Recruiter #Careers #Entrepreneur #Wealth Management

Getting Unstuck: How to Change “What If” to “What Could Be”

The Diamond Podcast for Financial Advisors

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published about a year ago

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301 episod

#Trading #Business #Mindy Diamond - Financial Advisor Recruiter and Consultant #Mindy Diamond - Financial Advisor Recruiter #Careers #Entrepreneur #Wealth Management

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The Diamond Podcast for Financial Advisors

1
“The Least Boring CPA” on How Tax Planning Can Add Value to Clients and Your Business 49:13

3 days ago49:13

49:13

With Steven Jarvis—CEO and Head CPA Retirement Tax Services Overview Steven Jarvis, the founder and CEO of Retirement Tax Services, offers advice on how a CPA can help increase the growth and enterprise value of an advisor’s business by providing tax planning strategies and more. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… Certified Public Accountants (CPAs) can add incredible value to the service that financial advisors provide to their clients. Beyond basic accounting practices, they can serve as powerful partners, especially when it comes to tax planning strategies, which can lead to added growth for an advisor’s business. In this episode, Steven Jarvis, who bills himself as “The Least Boring CPA,” explores that potential with us. The Jarvis name may be familiar: Matthew Jarvis, Steven’s brother and business partner, who was also a guest on this show, is a popular podcast host and CFP. In the first decade of his accounting career, Steven was on the partnership trajectory at a national firm. That’s when he realized that his work was often relegated to a single page inserted into a much larger report—and it didn’t have nearly the impact he had hoped for. As Steven put it, “There was a disconnect between my ability to make change and my desire to do so.” Since then, Steven has found the connection he was looking for. As the founder and CEO of Retirement Tax Services, he works with financial advisors on tax planning through a year-round tax service model that keeps the financial advisor in the driver’s seat. What does that really mean? In this episode with Louis Diamond, Steven answers that and more, including: His partnerships with advisors—and how his role goes beyond the basics of accounting services. Strategic tax planning—and how that differs from tax preparation. Compliance management—and why it’s critical to develop a plan to stay within the lines. The impact on growth—and how a CPA can help advisors increase their enterprise value. Essentially, Steven covers all the bases around taxes so advisors can focus on delivering what he calls “massive value” to their clients. Steven lives up to his title as “The Least Boring CPA” and is generous with sharing his knowledge, so be sure to tune in. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources How to Deliver Massive Value: Turning the Tables on The Perfect RIA’s Matthew Jarvis Matthew Jarvis rose from near bankruptcy to running a profitable independent financial advisory practice. He shares his story plus key teachings on extreme accountability, delivering massive value to clients, and more. The Competition Conundrum: Charge Less or Offer More? Clients have more choices than ever before. Here are 5 ways to stand out from the crowd. MaxCeV™: How to Maximize Your Career Enterprise Value This tool breaks down four key factors that contribute to career enterprise value, offering a framework for advisors to conceptualize and achieve their full potential. It’s an essential part of Diamond Consultants’ due diligence process to guide advisors towards long-term success. Steven Jarvis, CPA CEO and Head CPA Steven Jarvis, CPA is the CEO and Head CPA at Retirement Tax Services, a tax firm focused on working with financial advisors to change the world one tax return at a time. In this role Jarvis spends his time working with real financial advisors and taxpayers to help find opportunities to not tip the IRS. Afterall, there are no patriotic awards for overpaying taxes. With over 10 years of experience (and counting) as a CPA, Jarvis has the hands-on experience to create actionable content for his audience. He has been featured in industry publications including Advisor Perspectives and regularly produces content for financial advisors through the Retirement Tax Services website and the Retirement Tax Services Podcast . His experience covers written content, public speaking at leading industry conferences and 3 years as an adjunct professor in the graduate business school at Whitworth University. “Steven regularly speaks on a variety of tax topics for financial planners but always keeps his focus on how attendees can take action (information only has value if it is implemented!). Some of Steven’s favorite topics to cover include: Common mistakes advisors make on tax planning and how to fix them The real math on Roth conversions and how to effectively communicate them with clients Collaborating with CPAs and building great COI relationships Incorporating tax planning into the a financial planning practice NEW – Secure Act 2.0 and what to do about it for tax planning Steven’s years of experience and time working with hundreds of financial advisors gives him the ability and expertise to speak on a variety of topics, so if there is a tax topic you don’t see on the list you’d love to hear him speak on, just ask!” Also available on your favorite podcast app and other media sites…

The Diamond Podcast for Financial Advisors

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LPL’s Acquisition of Commonwealth and What it Means for Advisors and the Industry

8 days ago

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With Louis Diamond Overview LPL Financial, the largest independent broker dealer, is set to acquire Commonwealth Financial Network. Louis Diamond shares a perspective for Commonwealth advisors and LPL advisors alike and what the acquisition means for the industry at large. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… LPL Financial, the largest independent broker dealer, is set to acquire Commonwealth Financial Network—and it’s big news. Commonwealth has established a reputation as one of the most advisor-friendly independent broker-dealers in the industry. The firm is well-known for its strong culture, impressive technology, and advisor-centric focus. On the other hand, LPL is a $1.8T organization dedicated to the legacy on which the firm is built, as CEO Rich Steinmeier recently shared in this series. That is, the advisors are LPL’s clients, and it maintains the tradition of treating advisors “like people, not accounts.” In this episode, Louis Diamond shares insights for advisors at Commonwealth, LPL, and the broader industry, including: The strategic rationale for LPL—and why this makes good sense for their business goals. The blending of two cultures—and how the boutique feel of Commonwealth may be impacted. The value of scale—and how LPL’s infrastructure invest may benefit Commonwealth advisors. The prospect of a retention deal for Commonwealth advisors—and how they should consider their future. The acceleration of consolidation—and what this means for other independent broker dealers and the industry at large. Plus, Louis offers three questions advisors should ask themselves when they find their firm is being acquired. It’s an important perspective for all advisors—one that offers actionable advice, especially for those who are building their businesses in the independent broker dealer world. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources Your Broker Dealer Was Just Sold. What Should You Do? Major players are acquiring independent broker dealers with increased frequency, leaving advisors caught up in these sales to wonder what the impact will be on their business. Here are four actions to take to find out. The 2025 Annual Report on Transitions and Deals for Financial Advisors – 2024 Activity Data Data-driven insights and analysis on advisor transitions, deals, and the evolving wealth management industry landscape. Up Close with Rich Steinmeier: LPL’s CEO on the Transformation of a $1.8T Company Rich Steinmeier offers a candid perspective of LPL’s journey and how the founding core principles remain a pillar of the business today, even as evolutionary changes have made it one of the hottest firms in the industry. Also available on your favorite podcast app and other media sites…

The Diamond Podcast for Financial Advisors

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The Leap from IBD to RIA: Unpacking a $700mm to $1.7B Growth Story 56:40

10 days ago56:40

56:40

With Scott Pinkerton – Senior Planner & Managing Partner, FourThought Private Wealth Overview Scott Pinkerton of FourThought Private Wealth offers a perspective on outgrowing the independent broker dealer model, transitioning to an independent RIA, and the extraordinary growth realized as a result of the change. Scott unpacks the difference between the models, shares why he opted to sell equity to Focus Financial, and more. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… Independence comes in various shapes and sizes—with different levels of freedom and control that can serve just about any desire an advisor may have in building their business. Scott Pinkerton knew that firsthand, having joined his father’s business in the 1980s at A.G. Edwards. Wachovia’s acquisition of the firm, which soon became Wells Fargo, opened the door for Pinkerton Private Wealth to join Wells’ independent broker dealer model, Finet. For decades, the IBD model worked well for Scott and his team, building the business to over $700mm in assets under management. Yet there came a point when Scott wondered: “Should we coast along and just stay comfortable, or should we challenge ourselves to beat the trends and go for it?” Then, it became clear that even though they were “independent,” they were still limited by the guardrails imposed by the IBD model. To be a true fiduciary and make untethered decisions about their business and how they served clients would mean taking the ultimate leap: launching their own independent RIA. And so they did. In 2020, FourThought Private Wealth launched and five years later grew to manage over $1.7B in client assets. In this episode with host Mindy Diamond, Scott talks about that journey and his transition, including: The choice to leave Wells and launch an RIA firm—and how that decision has impacted their business. Life in the independent broker dealer model—and what promoted them to consider full-on independence. Their extraordinary growth—and what key factors drive it. Selling equity to Focus Financial Partners—and why they saw this as the right move at the right time. Plus, Scott offers a detailed perspective on serving clients, their ability to provide “unique” family office services, the realities of business ownership, and much more. It’s an episode for any advisor or business owner who may be looking at their business and considering how best to optimize it for now and the future. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources You ARE Vulnerable: A Reality Check for All Wirehouse Advisors There is a new reality for advisors who work for a wirehouse: An undercurrent of vulnerability. Are You Vulnerable? An Advisor’s Guide to Surviving and Thriving in a Hyper-Compliant Environment In a world managed to the lowest common denominator and driven by heavy-handed compliance, every employee advisor is vulnerable. In this episode, Mindy and Louis break it all down, share warning signs all advisors should pay attention to and proactive steps an advisor can take to protect themselves. Vulnerability & Termination – An Advisor’s Survival Guide A list of steps to take if you feel vulnerable, are under investigation or heightened supervision or have been terminated. Scott Pinkerton Senior Planner, Managing Partner Scott is a CERTIFIED FINANCIAL PLANNER® and Accredited Investment Fiduciary® who began his career in financial planning in 1985. He also completed the Certified Investment Management Analyst® program through the Wharton School of Finance. He later became a Certified Private Wealth Advisor® through the Investments & Wealth Institute at the University of Chicago Booth School of Business. CPWA® is an advanced credential for wealth managers who work with high-net-worth families and individuals, focusing on the life cycle of wealth: accumulation, preservation, and distribution. Most recently, in 2023, Scott was named to the Barron’s Top 1200 Advisors and Forbes Best-In-State Wealth Advisors. Scott is a longtime philanthropist, a deacon in his church, and an avid cyclist. He and his wife of more than 30 years, Julie, have three grown daughters and four grandchildren: 2 granddaughters and 2 grandsons. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

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The Annual Update on Advisor Transitions and Deals: 2024 Edition 47:21

17 days ago47:21

47:21

With Jason Diamond & Louis Diamond Overview In this companion guide to the annual Advisor Transition Report, Jason Diamond and Louis Diamond share key findings and post-publication insights from the annual state of the industry, with updates on advisor movement, transition deals, and more. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… Why do advisors change firms? That simple question set us on a journey that began four years ago when we first conceived our Advisor Transition Report. The cynical view is that advisors move primarily because they get paid highly lucrative recruiting deals—and with firms willing to pay aggressive multiples of revenue to recruit advisors, that explanation certainly holds some weight. But what about the advisors who opted for a version of independence where transition capital is less available or even non-existent? Or the advisors who approach due diligence with complete disregard for recruiting deals, preferring to evaluate each firm on their own merits because their only focus is how to make life better for their clients? It stands to reason that dollars alone are not a sufficient explanation for advisor movement, and certainly not to the high degree we have seen movement in recent years. That’s why we publish our annual Advisor Transition Report : to connect the dots between the raw movement data and the answers to the overarching question of “Why?” The goal is to arm advisors with the information they need to make an informed decision—even those who have no intention of making a move but simply want to be empowered with knowledge. In this special Industry Update, Jason Diamond and Louis Diamond share key findings and post-publication insights, including: Advisor movement—and which firms were the winners of top talent. Channel activity—and which channels were most attractive to advisors. Competitive recruiting—and how each of the wirehouses compared in the race for talent. Transition deals—and where they’re headed. Advisor mindset—and how that influences change. Key indicators and trends—and how activity over 2024 is influencing 2025. Plus, select case studies from some of the year’s prominent transitions…and much more. It’s the annual episode that serves as a companion to the report, with key highlights and insider information. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources The 2025 Annual Report on Transitions and Deals for Financial Advisors – 2024 Activity Data Data-driven insights and analysis on advisor transitions, deals, and the evolving wealth management industry landscape. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

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Crafting the Perfect Employer Value Proposition: The Key to Attracting and Retaining Top Talent 49:18

24 days ago49:18

49:18

A Special Industry Update with Louis Diamond & Jamie Campbell Overview A special episode designed for firms with their sights set on enhancing recruiting efforts and advisors looking to attract new team members, offering the steps to craft an effective Employer Value Proposition (EVP), with examples on usage and potential impact on hiring success and retention. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… It should come as no surprise that competition for top talent has become tougher than ever. This means that companies must excel at attracting, hiring, and retaining team members. So where do you start? Studies indicate that communicating and demonstrating a clear Employer Value Proposition or EVP is one of the most important factors in attracting and retaining talent. For example, a study by CareerArc found that 69% of candidates would decline a job offer from a company with a negative employer brand—even if they were unemployed. A Gallup poll indicated that employees who understand and connect with their company’s mission and values are 67% more engaged. A Gartner study found that approximately 65% of candidates reported withdrawing from a hiring process because of an unattractive EVP. Likewise, a well-defined EVP can increase new hire commitment by up to 29% and potentially reduce annual employee turnover by nearly 70%. So, what exactly is an Employer Value Proposition and how can you create one that’s compelling as well as something your firm can live up to? Jamie Campbell from our new Executive Search Group joins Louis Diamond in this special Industry Update to break it all down, including: The key ingredients of an EVP—and how each resonate with prospective talent. The importance of a well-crafted EVP—and how to ensure its tenants are embedded into your culture. Aligning your EVP with your corporate vision and strategy—and what firms do this best. The value of retention—and how it’s impacted by your EVP. Communicating your EVP—and what you can do to expand your messaging reach. It’s an episode that offers immediate action items for firms with their sights set on enhancing their recruiting efforts and advisors looking to attract and retain new team members. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Is Your Firm Ready to Attract and Secure Top Talent? Take this quick quiz to evaluate your executive search preparedness. Start Quiz Related Resources About Our Executive Search Group A dedicated partner to help you find the right talent for your growth. Our 7-Step-Process Our retained executive search platform is based on three decades of experience, expertise, and extensive reach—and a unique 7-step proprietary methodology. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

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Up Close with Rich Steinmeier: LPL’s CEO on the Transformation of a $1.8T Company 1:02:28

4 weeks ago1:02:28

1:02:28

With Rich Steinmeier – CEO, LPL Financial Overview Rich Steinmeier offers a candid perspective of LPL’s journey and how the founding core principles remain a pillar of the business today, even as evolutionary changes have made it one of the hottest firms in the industry. Watch… Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… LPL Financial is a classic example of a “legacy firm”—built over time on a solid and enduring foundation. While many may view long-standing firms as immutable and resistant to change, LPL’s new CEO, Rich Steinmeier , is proving that’s a misconception. LPL shows that enduring legacies built to last are those established on a solid foundation of the past while continuously evolving and transforming to become better and stronger for the future. LPL was born in 1989 from the merger of two small brokerage firms, Linsco and Private Ledger, and was designed as an alternative to traditional Wall Street firms. The founders’ vision centered on helping financial professionals build competitive businesses while serving their clients’ best interests. Yet, as Rich puts it, LPL’s foundational legacy is in how it views its advisors: They are LPL’s clients, and the tradition of treating advisors like “people, not accounts,” remains today. Since Rich rose to the rank of CEO in October 2024, his role has been to advance LPL value propositions, such as taking care of advisors and institutions so they can take care of clients. In this candid conversation with Louis Diamond, Rich shares a behind-the-scenes perspective of the firm, including: Raising to the ranks of CEO—and his vision for LPL now and in the future. A look back at the legacy—and how the foundational tenets are informing their direction and goals. Continually raising the service level bar—and why “finding more ways for advisors to win” is such an important concept. The variety of ways for advisors to affiliate with the firm—and how that’s transforming the way advisors consider independence. The succession crisis—and how LPL sees an opportunity for advisors and their businesses. Their path to becoming a $1.8T firm—and what’s driving their growth. It’s a rare, candid conversation with the CEO of one of the hottest wealth management firms in the industry. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources The Succession Conundrum: How Advisors Can Balance Legacy and Liquidity Multigenerational teams have several options for monetizing and transitioning the book from one generation to the next. So, how do they decide what’s best? Satisfying an Advisor’s Quest for Independence as an Employee For many advisors, independence is just a bridge too far—but greater autonomy and control are often closer than they realize. Succession and Liquidity: Key Considerations and Options for Founders and Next Gens Succession and monetization are hot topics for advisors in every model. LPL Financial’s Liquidity and Succession program representatives discuss what advisors, independent business owners, and next gens need to consider as they grow their businesses and explore long-term and short-term options, plus best practices to prepare for a transition and maximize business value. Rich Steinmeier Chief Executive Officer Before becoming CEO in 2024, Mr. Steinmeier served as LPL Financial’s Chief Growth Officer, where he led teams responsible for shaping the LPL corporate and business line strategy, recruiting new financial advisors and institutions to LPL, leading the field management of LPL employee advisors, creating and deploying capital solutions to LPL clients, and leading the marketing and communications functions. Prior to joining LPL Financial, Mr. Steinmeier had senior leadership roles at UBS Financial and Merrill Lynch as well as working as a consultant for McKinsey & Company. Rich earned a B.S. in economics from the Wharton School at the University of Pennsylvania and an M.B.A. from Stanford University as an Arjay Miller Scholar. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

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Beyond the Broker Dealer: Next Gen Sheds Light on Their Evolution to RIA 54:25

5 weeks ago54:25

54:25

With Gideon Drucker – President and CEO, Drucker Wealth Management Overview Gideon Drucker shares a multi-generational growth story, evolving from the insurance world, to independent broker dealer HTK, and most recently, to fully independent as an RIA. Now CEO, Gideon shares insights on his own evolution from next gen to leader, the advantages of independence, and their transition. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… Many multi-generational wealth management businesses evolve from one generation to the next, with each generation making its mark and helping to drive the firm to the next higher level. In this case, Bernie Drucker started in the life insurance world in 1959, building a practice helping families find financial independence. Bernie’s son, Lance, joined him in 1985, integrating investment management into their services. The third generation of Druckers, Gideon, came on board in 2016 after serving as a paratrooper in the Israeli military. Gideon learned the insurance and wealth management business from the ground up, working alongside his father and extending the legacy born two generations earlier. Drucker Wealth thrived for over 38 years with independent broker dealer Hornor, Townsend & Kent (also known as HTK), where they were the largest advisory team for 18 straight years, managing over $700mm in assets for their clients. But just as Lance had helped take the business to the next level when he joined his father, Gideon set his sights on creating what he calls “Drucker Wealth 3.0”. it was with that goal in mind that the team left the IBD world to become a stand-alone independent RIA firm. Gideon now serves as the President and CEO of Drucker Wealth Management and talks with Mindy Diamond about the firm’s evolution, as well as his own, including: The growth from one generation to the next—and how that motivated them through change. Signs they were outgrowing the broker dealer model—and what inspired them to explore their options. Their transition from HTK and the broker dealer world—and what advantages they gained as an RIA firm. Growing up in the business—and how his story can offer learnings for senior advisors and next gen alike. The transition from next gen to leader—and how Gideon needed to adapt and grow. Plus, Gideon offers a candid insider’s perspective just one year in—and describes what he sees as the next phase of evolution for the business. It’s an episode that offers value to those considering how to create continuity and a legacy, as well as serves as a growth blueprint for any next gen or senior advisor. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources From Insurance Sales to $8B RIA: A Northwestern Mutual Breakaway Story Andy Schwartz went from selling insurance at Northwestern Mutual to managing $3.5B in assets and leading one of the firm’s largest groups. In 2014 they left to go independent as Bleakley Financial Group, now managing $8B in assets as a hybrid RIA. The Succession Conundrum: How Advisors Can Balance Legacy and Liquidity Multigenerational teams have several options for monetizing and transitioning the book from one generation to the next. So, how do they decide what’s best? Wealth Management Landscape At A Glance: Focus on Independence In a greatly evolved industry landscape, the independent space has expanded to offer a variety of models with varying levels of freedom and flexibility. Which one might be right for you? Gideon Drucker Founder and Director of the Wealth Builder Division Gideon Drucker, Certified Financial Planner, Accredited Investment Fiduciary and Equity Compensation Associate, is the Founder and Director of the Wealth Builder Division at Drucker Wealth , a family wealth management firm started by his grandfather Bernie Drucker in 1959. The third generation Drucker, Gideon specializes in working with young professionals looking to take a more proactive approach to their financial future. While meeting many of his firms’ pre-retiree clients during his first year, Gideon kept hearing a common refrain: “If Only I had met you 30 years ago.” This sentiment, repeated dozens of times by new Drucker Wealth clients approaching retirement, became Gideon’s inspiration for everything to come. Gideon created the HENRY Syndrome™ suite of services as a way to educate and empower young professionals, newlyweds, and young families to make smart financial decisions for their futures. Gideon was recently named by Forbes as a Top Next Gen Advisor and is a sought after public speaker, presenting his HENRY Syndrome ™ workshops to hundreds of companies, organizations, and nonprofits throughout New York City and beyond with a primary focus in the tech community. Gideon graduated from Lehigh University before serving as a combat paratrooper in the Israel Defense Forces. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

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Friends & Fiduciaries: College Roommates Leave Their Series 7s Behind to Build an Independent Business 50:58

6 weeks ago50:58

50:58

With Christopher Griffith & Henry Wheelwright, Co-Founders and Managing Partners, Stablepoint Partners Overview Chris Griffith and Henry Wheelwright, rising stars in the wirehouse world, share their growth story and motivations to leave Morgan Stanley and launch their own independent firm on the Goldman Sachs custody platform. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… The best partnerships have a great backstory. Chris Griffith and Henry Wheelwright were college roommates and best friends bonded by sports and similarities in goals. Together, they started their wealth management careers at A.G. Edwards. Then the duo moved on to UBS where they quickly became known as “rising stars.” 8 years later, they transitioned to Morgan Stanley, building a business managing $650mm in client assets and garnering accolades from the likes of Forbes. Chris and Henry were always focused on their clients: Driven to understand their needs and do what was best for them. Young yet accomplished, the team started to think more boldly—for creative ways to serve their clients as their personal CFOs, helping to make a positive difference in their lives and those of their future generations. It was that thought process that led them to conduct due diligence, with a focus on the independent space, where they could serve as true fiduciaries. After looking at all the options available to them – from supported independence to each custodian – they landed on building their independent firm from the ground up on the Goldman Sachs custody platform. Just one year later, as Stablepoint Partners, the duo shares how it’s going with Jason Diamond, including: Leaving behind the Morgan Stanley imprimatur—and how their clients responded to the change. The creative freedom they lacked in the wirehouse—and how they resolved that in independence. Goldman Sachs as custodian—and what they offered that other custodians didn’t. The choice to build an RIA from scratch—and why they opted for that path vs. supported independence. Their extraordinary short-term growth—and what they expect for the future. Everyone loves a good “buddy story,” and this one has all the markings of a blockbuster: Two young advisors who have learned a lot in a short period of time and are happy to share actionable advice. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources Embracing the Modern Advisor: An Inside Look at Goldman Sachs Advisor Solutions Richard Lofgren, the Managing Director of Goldman Sachs Advisor Solutions, provides inside baseball, including how they differentiate from other established custodians, their ideal advisor profile, and much more. If Not Another Wirehouse, Then What? Advisors considering change want something more than what they have at their current firm. The good news is that there’s plenty to choose from. But that’s the bad news, too. Wealth Management Landscape At A Glance: Focus on Independence In a greatly evolved industry landscape, the independent space has expanded to offer a variety of models with varying levels of freedom and flexibility. Which one might be right for you? Our newly updated “Landscape at a Glance” focuses on independence, providing the key features of each model. Christopher K. Griffith, CFP®, CPWA® Managing Partner, Co-Founder Chris co-founded Stablepoint Partners to put his client’s best interests first. His vision was to purposely grow the firm in a way that provides exceptional service to every client, keeping focus on building lasting relationships, o ering trusted advice and delivering personalized guidance. The son of two educators, Chris earned both the Certified Financial Planner (CFP) and Certified Private Wealth Advisor (CPWA) designations, and once studied with the head of the Federal Reserve of India. Chris earned his Bachelor of Arts degree in Economics and Finance at Clark University, where he also played varsity basketball. He earned the CPWA designation through the Booth School of Business at the University of Chicago. Prior to starting Stablepoint Partners, Chris was a Managing Director at Morgan Stanley, the highest title attributed to Financial Advisors, where he and his partner, Henry Wheelwright led one of the top performing teams at the firm. Prior to Morgan Stanley, Chris and The Griffith Wheelwright Group team spent eight years at UBS Financial Services where they were recognized as rising stars in their field. Since their original launch in 2001, Chris and his team’s focus was, and remains to be, to work alongside clients to understand their life goals and develop a personalized wealth strategy to get them there. Chris and Henry have grown their practice one conversation at a time, for over 20 years through three bear markets, the Great Recession, Covid, and a devastating financial crisis. The combination of his experience and knowledge of the financial world, and an innate passion to help others made a career in wealth management a natural fit for Chris. In 2018, Chris was named as one of the “Top 40 Under 40” in the Financial Advice industry by Investment News, and a “Best in State Wealth Advisor” by Forbes every year since 2019. Chris attributes his accomplishments to the personal and professional bonds he’s established with clients over the years. Outside of his work with clients, Chris most enjoys spending time with his family. He and his wife, Erin live in Norwell, Massachusetts with their two children, C.J. and Wesley. You’ll often find Chris on the sidelines coaching youth basketball or on the golf course, caddying for his sons. Chris and his family are actively involved in several charitable organizations, making giving back to those in need a priority together. Henry J. Wheelwright, CFP® Managing Partner, Co-Founder As a Managing Partner and Co-Founder of Stablepoint Partners , Henry believes in ensuring that every financial decision reflects the short, medium, and long-term goals of every client. His client relationships continue to be built on a foundation of trust, ongoing communication, and timely execution by his seasoned Stablepoint Partners team of professionals. As a Certified Financial Planner (CFP) with over two decades of experience as a financial advisor, Henry is a centerpiece of counsel for his clients where he begins all relationships as their Fiduciary, focusing on a personalized financial plan that develops, implements, and executes investment strategies to meet their goals and planning needs. Henry’s interest in finance started at an early age. He was raised in Manhattan, where his mother was a journalist at Money magazine. She brought him to the Stock Exchange and mock investment classes which he credits for initiating his passion for wealth management. His style is personal, proactive, and educational with a goal to help his clients live better lives through investment and financial planning support. Henry received his Bachelor of Arts in Economics and Finance at Clark University, where he both pitched for their varsity baseball team and met his long-time friend and co-founding Stablepoint partner Chris Griffith. Both Co-Founders credit their collegiate athletic careers, and many years as close friends, as leading to a coaching and advice-driven approach to the clients of Stablepoint Partners. Both Henry and his wealth management team have been recognized by Forbes as Best-In-State Financial Advisors and have been considered top performers at their previous firms. Henry started his wealth management career in 2001, working at A.G. Edwards, UBS Financial Services, and most recently Morgan Stanley, prior to founding the Independent Registered Investment Advisory Firm (RIA) Stablepoint Partners with Chris. This was an important transition to independence that is focused on the clients of the practice, and the core values of independent and object advice, innovation, and reimagining the client wealth management experience. Henry lives in the Squantum section of Quincy with his wife Kim and his two children Olivia and William. For Henry, his family and community remain important parts of his life outside of Stablepoint Partners. He is a trustee at the First Congregational Church of Squantum, and enjoys golf, basketball, and staying engaged with the non-profits in his surrounding community. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

1
The Lifecycle of a Billion Dollar Business: Build at a Broker Dealer, Grow as an RIA, then Sell 50:02

7 weeks ago50:02

50:02

With Bryan Sweet, Founder, CEO, Wealth Advisor – Sweet Financial Partners Overview Bryan Sweet of Sweet Financial Partners shares the ultimate independent business growth story, starting with 32 years under the Raymond James BD umbrella, then as an RIA, and most recently selling to Carson Wealth. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… There are different milestones business owners look to achieve along the path of independence. For example, over the course of three decades, Bryan Sweet built and grew an independent business under the Raymond James broker dealer umbrella. Bryan felt he needed access to a broader range of products and solutions and a greater degree of control over his business, so he decided to launch an RIA with the support of Dynasty Financial Partners. Then, Bryan completed what many consider the coup de grâce in the independent wealth management business lifecycle: Sweet Financial Partners sold to Carson Wealth. Today, Bryan shares the journey of his billion-dollar business with Louis Diamond, including: Building an independent business at Raymond James—and what kept Sweet Financial there for so long. The motivations for launching an RIA—and why Bryan felt he needed to flex his entrepreneurial muscles after 32 years. The benefits of an RIA vs. the IBD model—and what additional value his clients realized. Key growth strategies—and how they evolved with each model. The sale to Carson—and why now. It’s the ultimate independent business growth story: A candid conversation that offers detail into each phase of Sweet Financial’s lifecycle, with advice on the due diligence process, the motivations, and the results. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources A Comparison Fact Sheet – IBD vs RIA When it comes to freedom and control, there are key differences amongst the independent broker dealer (IBD) and registered investment advisor (RIA) spaces that every advisor should be aware of. Should I Stay or Should I Go? An Advisor’s Guide to Thinking Through Their Biggest Decision Jason Diamond turns the tables on Mindy who offers a first-hand glimpse into her book, Should I Stay or Should I Go?, created specifically for financial advisors who are looking to optimize their businesses or thinking through the biggest decision of their lives. IBD vs. RIA Revisited: Two Independent Pathways for Advisors to Consider When it comes to freedom and control, there are key differences amongst the independent broker dealer (IBD) and registered investment advisor (RIA) spaces that every advisor should be aware of. Bryan J. Sweet CLU, ChFC, MSFS Founder, CEO, Wealth Advisor – Sweet Financial Partners As a Forbes Best-in-State Wealth Advisor for multiple years running, Bryan has been on the mission to help people live their retirement dreams since the start of his career in financial services back in 1979. It is because of this that he created his proprietary The Dream Architect™, which not only helps his clients maximize their distribution planning in retirement, but also helps them strive for and accomplish their biggest dreams. With Bryan’s vast industry experience, he is also partnered in multiple entities including the Elite Wealth Advisor Symposium, which supports high-performing financial advisors across the United States in the growth and scaling of their businesses. He and his partners do this through teachings on team engagement, marketing, automation, best practices, and all that it takes to build a high-class and scalable advisory practice. The bottom line is that Bryan thrives on helping others experience the growth and freedom that he has created in building a world-class financial services practice, all while living the life of his dreams. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

1
What’s on the Minds of Elite Advisors and Teams? A Special Industry Update 35:30

8 weeks ago35:30

35:30

With Jason Diamond & Mindy Diamond Overview What drives the industry’s top advisors and teams? This special episode with Jason and Mindy Diamond explores the traits that drive their success, as well as the challenges they face. Listen in… > Download a transcript of this episode… NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. About this episode… Reaching the upper echelon of success in the wealth management world is something that many advisors strive for. The reality is that the path there is not an easy one—the result of which is driven by design, not left to happenstance. So how do they get there? No doubt, elite advisors possess unique mindsets and methodologies that contribute to their growth. And there’s much that advisors at every level can learn from the industry’s superstars. In this special Industry Update, Jason Diamond and Mindy Diamond explore the topic, including: How do we define an “elite” advisor or team? What makes these individuals and teams stand out from others? What do they focus on? How do they think about their businesses? What are their pain points? What challenges do they face? What options are available to them should they decide to consider change? Plus, much more. It’s an episode that offers strategic insights for advisors and teams at all levels. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources Building Enterprise Value: A Coach’s Advice for Advisors and Teams Ray Sclafani of ClientWise discusses the key areas that employee advisors and independent business owners can impact to influence sustainable growth, enhance client relationships, and ultimately build “exit” value. Of Myths and Moving 2024 What’s the reality when it comes to recruiting and transitions? An annual perspective for advisors. The Strategic Due Diligence Roadmap A visual guide to help financial advisors embark upon an efficient process—one that is more likely to result in discovering Your Best Business Life™. Also available on your favorite podcast app and other media sites Browse other episodes in this podcast series……

The Diamond Podcast for Financial Advisors

1
Unlocking a Niche: 30-Year Wirehouse Veteran on Building a $1B Independent Business 53:36

9 weeks ago53:36

53:36

Gerry Spitzer of Questar Capital Partners discusses leaving the wirehouse world after 30 years to launch an independent firm, sharing a perspective of building a business at Merrill and, more recently, UBS, and why focused, niche businesses may be better served in the independent space.

The Diamond Podcast for Financial Advisors

1
Focus Financial Partners 2.0: Inside Baseball from the New CEO on the Firm’s Evolution 1:10:09

10 weeks ago1:10:09

1:10:09

Michael Nathanson shares his vision for Focus, offering a unique insider’s perspective on the firm’s evolution and differentiators, and how that plays into the future of independence. Plus, he offers thoughts on his own transition to CEO and advice for advisors and business leaders.

The Diamond Podcast for Financial Advisors

1
Unconstrained Growth: $6B+ Former UBS Team Finds Real Freedom to Focus on Clients 48:55

11 weeks ago48:55

48:55

Tony Smith of Stonegate Investment Group discusses transitioning from UBS after 14 years and $4.4B in AUM to independence and building the business to $6B, including the motivations to make a change at this stage of his career, how they achieved such extraordinary growth in a short time, and much more.…

The Diamond Podcast for Financial Advisors

1
The Most Valuable Insights for Advisors: On Goals, Growth, and Building Something Great 31:50

12 weeks ago31:50

31:50

A compendium of advice extracted from 48 episodes of the 2024 season of the Diamond Podcast for Financial Advisors, including the importance of your “Why,” the most compelling reasons for change, being a “true” fiduciary, unique value propositions, and more.

The Diamond Podcast for Financial Advisors

1
The Good News on Marketing: An Industry Legend on How to Grow Bigger Faster 54:34

14 weeks ago54:34

54:34

A free session on accelerating growth via marketing with one of the leading firms in the wealth management industry. They offer advice on the value of content, the referral process, building strategic partnerships, CRMs and technology, and much more.

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