Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

Mindy Diamond - Financial Advisor Recruiter and Consultant

While independence offers a great deal of freedom and flexibility, it’s not for all advisors. Financial Advisor Recruiter and Consultant, Mindy Diamond, explores the space and options available to help advisors assess if independence is right for them.

All Episodes

In the first episode of her podcast on independence, Mindy Diamond explores the origins of the space, the backstory of its explosive growth, and introduces key players behind the momentum. She discusses key trends to be aware of, why so many advisors find independence attractive, and defines the profile of a typical independent advisor.

Nov 2017

15 min 6 sec

After exploring the origins of independence in the first episode of this series on independence for financial advisors, in this episode Mindy Diamond walks advisors through a process to help them determine if the model is right for them. She’ll share a story of 2 advisors who, after asking themselves a series of questions, identified that independence was not right for them.

Nov 2017

20 min 18 sec

In this podcast, Mindy explores the Independent Broker Dealer or IBD model offers a mix of freedom and support for advisors who want flexibility but also to retain some of the "scaffolding" they're accustomed to.

Nov 2017

22 min 34 sec

In this episode, Mindy explores the RIA space, for advisors with their sights set on the highest level of freedom and flexibility, plus the maximum ability to build long-term enterprise value. [podcast]

Dec 2017

21 min 43 sec

What drives a wirehouse advisor to make the leap to independence? And what happens once they get to the other side? Hear it first hand in this one-on-one interview with breakaway broker Matt Celenza. Join Mindy Diamond, host of this podcast on independence for financial advisors considering change.

Jan 2018

31 min 17 sec

As one of the relatively new models in the wealth management landscape, independence for financial advisors is often subject to headlines and hearsay. In this podcast episode, Mindy addresses some of the popular preconceived notions about independence, setting the record straight on common myths she hears from advisors.

Jan 2018

18 min 26 sec

While most financial advisors dream about the freedom, flexibility and control of independence, many don’t make the move because of the perceived downside in the short-term economics. In this podcast, Mindy shares how there are now plenty of ways to monetize in the short-term.

Feb 2018

16 min 50 sec

How will the ability to go independent be impacted by an advisor's non-Protocol status? Sharron Ash, Chief Litigation Counsel at Hamburger Law Firm, joins Mindy Diamond on this special podcast episode that explores the answer to that question and many more surrounding the recent withdrawals from the Protocol and advisor movement.

Feb 2018

20 min 50 sec

While the freedom and flexibility of the independent space are attractive to many, it’s the long-term economic potential that’s the real draw for entrepreneurial-minded financial advisors. Special guest and industry expert Louis Diamond shares the top ways independent advisors monetize in the long-term.

Feb 2018

29 min 36 sec

How do the economics of going independent compare to the value of taking a recruiting deal from a major firm? In this podcast episode, Mindy Diamond will help answer that question by walking through a real-world example of a traditional recruiting deal offered to a wirehouse advisor and what that same advisor could expect by going independent.

Mar 2018

14 min 28 sec

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. Learn more about quasi-independence in this podcast episode of Mindy Diamond on Independence.

Mar 2018

12 min

At a time when many other advisors would be focused on retirement, this senior advisor and his team took “the road less traveled” in order to better serve their clients and business. [podcast]

Apr 2018

27 min 52 sec

Employee advisors are often limited to organic growth alone. For those who want to meaningfully accelerate their growth and use multiple initiatives to do so, organic growth alone can feel limited. It’s these advisors often feel the greatest pull towards independence. In this podcast episode, Mindy will drill down on the specific things that really contribute to the turbo-charged growth of an independent firm.

Apr 2018

13 min 6 sec

Before independence was in vogue, Dorie Fain left the comfort and familiarity of a big-name firm – plus significant chips on the table – to build her own RIA. And she did it without leveraging a service provider. Here’s what she learned… [podcast]

May 2018

34 min 48 sec

It’s no small task to build an RIA firm. There are some breakaway advisors willing to do the heavy lifting on their own, others do not have the capacity, time nor desire. In this podcast episode, Matt Sonnen of PFI Advisors gives a realistic view of resources and requirements, plus compares and contrasts the different paths you can take. [podcast]

May 2018

31 min 21 sec

Prospective breakaways and independent business owners alike often ask us about the long-term, bigger picture potential for their firm. In this episode, Nathan Bachrach of Simply Money Advisors joins Mindy to discuss the answers so many independent business owners ponder. [podcast]

May 2018

32 min 33 sec

Independence may sound "isolating" to many financial advisors exploring the space. In this episode, Mindy dispels that myth, exploring how independent advisors can find support, synergy and a community to share ideas. [podcast]

Jun 2018

12 min 53 sec

After years of strong growth, many successful independent businesses find themselves at a plateau. Inorganic growth – via mergers and acquisitions (M&A) or recruiting – offers these firms a way to expand into new markets, improve buying power, gain scale and capture operating leverage. M&A can also increase the metrics on which the valuation of the business is based, and help solve for succession.

Jun 2018

12 min 11 sec

No doubt that the breakaway movement shows no sign of abatement and, in fact, almost every day we learn of yet another advisor who has chosen to leave their traditional brokerage firm for the greater freedom and flexibility of independence. And while any advisor who chooses to leave the mother ship is courageous in giving up the comfort and turnkey support of a major firm, it is especially brave when an advisor from a non-Protocol firm chooses to make the leap.

Jul 2018

10 min 24 sec

As more and more advisors consider a move to the independent space, they often express concern about the heavy-lifting such a move might require. In this podcast episode, Mindy is joined by Tim Oden, Senior Managing Director for Business Development at Schwab Advisor Services. With his 30-years of industry experience, he offers a great perspective on the ever-increasing movement towards independence.

Jul 2018

32 min 34 sec

Throughout this series, Mindy has focused mostly on what it means to be independent and how to get from here to there. In this episode, she takes a step back to look at the thought process behind a move from a very different vantage point and offers a 10-point exercise for advisors.

Aug 2018

11 min 9 sec

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]

Aug 2018

38 min 24 sec

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.

Sep 2018

46 min 50 sec

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]

Sep 2018

43 min 58 sec

What’s inspiring folks to jump ship from where they’ve built their life’s work to pursue other firms or even business models? Find out, plus a process that will guide you to answer your own question: Do I stay or do I go?

Oct 2018

14 min 14 sec

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.

Oct 2018

40 min 3 sec

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]

Nov 2018

36 min 20 sec

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.

Nov 2018

34 min 39 sec

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 on this podcast episode.

Nov 2018

43 min 4 sec

In this podcast episode, Liz Nesvold, founder and managing partner of Silver Lane Advisors, joins Mindy to explore what it means to build your business with the end in mind, and why it’s one of the most critical directives an RIA firm owner should follow.

Dec 2018

45 min 30 sec

Michael Henley, a 34-yr old “diehard Merrill Lynch advisor” and team, with a partner less than 10 years from retirement, came to a point at the wirehouse when it was more about “jumping through hoops” for the bank than doing best for their clients.

Jan 2019

46 min 51 sec

A curated collection of the top words of wisdom shared by wealth management industry leaders and top breakaways from the first year of the leading podcast series for advisors exploring the independent space, Mindy Diamond on Independence.

Jan 2019

36 min 29 sec

Michael Henley, a 34-yr old “diehard Merrill Lynch advisor” and team, with a partner less than 10 years from retirement, came to a point at the wirehouse when it was more about “jumping through hoops” for the bank than doing best for their clients.

Feb 2019

46 min 51 sec

Attorney David Gehn shares his experience in working with advisors through non-Protocol moves, the challenges of terminations and hyper-compliance, avoiding TROs and other contractual matters that can arise even before an advisor considers a move.

Feb 2019

35 min 29 sec

Merrill breakaway Lisa Van Walleghem of MAXIMAI shares why leaving the once “great school of experience” with a globally diverse book to form her own independent firm was the best way for her to serve her offshore clients and grow her business.

Mar 2019

40 min 22 sec

Guest Jim Gold discusses breaking away from the senior leadership ranks at Morgan Stanley to build Steward Partners, a full-service employee-owned quasi-independent model, for advisors who are not interested in building something from scratch. He also shares some exciting news about the growth of the firm.

Mar 2019

35 min 44 sec

Industry superstar Greg Fleming at the helm, the Rockefeller name, an extraordinary financial advisor community and leadership dream team makes this firm a home run. COO Chris Dupuy shares some inside baseball on Rockefeller Capital Management.

Apr 2019

41 min 36 sec

Rob Bartenstein discusses how Kestra Private Wealth Services offers a path to supported independence for advisors who want to go independent but do not want to build an RIA firm themselves.

Apr 2019

37 min 44 sec

In a greatly expanded landscape, many independent models exist that provide varying levels of freedom and flexibility. Louis Diamond joins the episode to help identify, compare and contrast the 7 most popular options available to breakaway advisors.

Apr 2019

16 min 27 sec

Chip Munn reminds us that breakaways do not always come from the wirehouses. He left regional broker dealer Hilliard Lyons for RJFS in 2016 in search of more freedom and flexibility to grow his business. And grow he did: from $300mm in AUM to $1.2B in just a few short years.

May 2019

34 min 52 sec

Louis Diamond takes over the mic to share actionable advice on succession planning for all advisors no matter your age, stage of your career, or whether you’re seated at a wirehouse or are an independent business owner.

May 2019

25 min 31 sec

Former Morgan Stanley advisor Margaret Dechant had a successful “self-sufficient business” at the firm with $2.5B under management. So, what drove her and her partners to breakaway, leave deferred compensation behind and form their own independent firm?

May 2019

43 min 29 sec

Morgan Stanley breakaway Steve Schwarzbach, Founder and Managing Partner of $800mm RIA Icon Wealth Partners, shares how he and his partners – free of the “big firm agenda” – regained the power to define their firm’s culture and offer best-in-class products and services.

Jun 2019

36 min 25 sec

A conversation about the IBD model with Commonwealth Financial Network Managing Principal of Business Development, Andrew Daniels. Learn how the firm, 40 years in the making, has evolved, and how their model differs from others in the independent space.

Jun 2019

47 min 20 sec

Prospective breakaways often ask, “How can an independent firm possibly compete on a technology level with the wirehouses?” Eric Poirier, CEO of Addepar, joins the show to answer that question and explores the role of fintech in independence.

Jun 2019

41 min 37 sec

One of the industry's leading voices, Michael Kitces, joins Mindy to discuss the fundamental shifts in the wealth management industry, the leveling of the playing field and what advisors need to do to differentiate, compete and thrive.

Sep 2019

1 hr 6 min

In part 2 of 2, Eric Poirier, CEO of Addepar, explores the ongoing role technology plays in the different stages of a business, as well as a firm’s valuation, and what independent firm owners need to consider as their businesses and clients evolve.

Sep 2019

43 min 19 sec

Industry veteran and CEO of HighTower Bob Oros digs into the evolution of the firm and the landscape at large in this podcast episode. It’s an engaging conversation with a unique perspective on the momentum towards independence and thriving M&A market.

Sep 2019

48 min 15 sec

Rob Nelson, CEO and Founding Partner of NorthRock Partners, talks about his explosive growth after a shift from IBD to RIA, the value of a capital partner, professional athletes as clients as well as team members, and much more.

Oct 2019

41 min 6 sec

Rich Gill, senior partner of Wealth Partners Capital Group, discusses what makes an attractive acquisition target, what a good deal looks like, how to prepare your firm for acquisition, how long the red hot M&A market will continue and much more.

Oct 2019

59 min 15 sec