Ex-Merrill Leader’s Vision Comes to Fruition: John Thiel on Making the Advisor “The Value Proposition”
The Diamond Podcast for Financial Advisors
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Evolving Wealth Management Insights
This chapter explores the speaker's career transition from public accounting to wealth management, highlighting their insights on client service and leadership. It addresses the changing demands on financial advisors and the necessity for diverse skills in a complex environment. The discussion emphasizes the importance of enhancing the advisor-client relationship and embracing innovative fintech solutions to improve client outcomes.
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Overview
John Thiel offers a unique perspective on the evolution of the wealth management industry and his former leadership role at Merrill. Plus, he shares how his new independent firm, Indivisible Partners, is carving a new path for those seeking a firm with a greater focus on the advisor.
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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…
After nearly three decades with Merrill, John Thiel left the firm and his position as the Head of Wealth Management with just one regret: the feeling that there was more to be accomplished in the wealth management industry.
After seven years of remaining connected to the industry through consulting, board work, and similar endeavors, John’s vision for redefining the advisor’s role and what advice truly means to clients gained greater focus.
John’s experience at Merrill, where he rose through the ranks from advisor to management over the years, provided him with a unique perspective and valuable experience that few can claim.
It’s a trend we’re seeing more of these days—one in which members of the C-suites at the industry’s wirehouses are inspired to build a new independent business based on their knowledge of the gaps that exist in our ever-changing landscape.
Such “breakaway leaders” like John have a knack for seeing all sides of the circle—and they’re willing to bet their reputations on taking a shot at building the next big thing. And that’s the very space from which Indivisible Partners was born.
John joins Mindy Diamond in this episode to discuss his journey and outline his vision, including: 
- His experience at Merrill—and why he chose to leave the firm and the wirehouse world behind.
- The gaps he saw in the wealth management industry—and how he sees Indivisible Partners filling them.
- Indivisible’s value proposition—and why building a firm that “invests in the advisor” is a unique and attractive proposal.
- The management team he assembled—and how this top talent from the C-suite is working together to build out something “special.”
- The role of a “servant leader”—and why he thinks advisors want someone who is more than a supervisor.
- His thoughts on the future of wealth management—and how the past is coloring the evolution we are seeing today.
John sees the wealth management industry as having a bright future and recognizes that change is a big part of that. Listen in for a unique perspective on what lies ahead.
Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.
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John Thiel
Founder, Executive Chairman
John’s multi-faceted role is to lead Indivisible Partners’ Operating Committee structure by helping set its vision and strategy as well as running the firm and attracting the best advisor talent available. He also supports and guides teams in practice management and business growth, drawing on his vision and expertise to shift the client experience to one focused on achieving their desired outcomes.
Indivisible Partners is John’s vision come to fruition. He has long believed that financial services firms fall short of fully helping clients integrate their money decisions with the realities of their lives. The Indivisible Partners model enables advisors to use the latest data, analytics, and tools within the rigor of an institutional-caliber process to improve the quality of today’s decisions without jeopardizing the plans of tomorrow, through more robust impact analysis. The view is holistic, the process is collaborative, and the outcomes are rooted in the client’s best interests.
His previous 27 years at Merrill Lynch has prepared John for this moment. There, he accelerated growth and drove a dramatic cultural and strategic transformation to better serve clients’ needs. As Head of Wealth Management, he led Merrill Lynch’s shift into goals-based wealth management and became a renowned thought leader in the financial services industry. He grew revenue from $12.5 billion to $15 billion, doubled pre-tax margins to 28%, reengineered and grew the financial advisor training program, and reduced experienced financial advisor attrition to historic lows of 2.5%.
Throughout his Merrill Lynch tenure, John cultivated an environment that fostered a powerful relationship of trust between clients and advisors. It is this culture that he and the Indivisible Partners leadership team are amplifying today. John continues to focus on servant leadership that empowers advisors to develop trusted relationships with clients while offering them easy-to-understand, outcomes-based advice. He believes this is where the industry is lacking and creates the space for Indivisible Partners to become a premier wealth management firm.
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