The Diamond Podcast for Financial Advisors

Overview Four top advisors who each left a major firm share how they built successful independent businesses on their own terms. Originally recorded as a live webinar, this candid roundtable explores the real fears, challenges, and opportunities of transition, and what advisors wish they’d known before making the leap. 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… Advisors considering independence often ask the same questions: What finally pushes someone to leave a major firm? How do you handle the fear of losing clients? What would you do differently if you could do it again? In this special episode (a replay of one of our most engaging webinars), Louis Diamond moderates a discussion with four advisors who’ve been there and built thriving firms after leaving Merrill, UBS, Wells Fargo, and Morgan Stanley: Trent Leyda, SpirePoint Private Client (formerly of Morgan Stanley) Jordan Raniszeski, Carnegie Private Wealth (formerly of Wells Fargo Advisors) Rebecca Baker, Marble Wealth (formerly of UBS) Jerry Davidse, Presilium Private Wealth (formerly of Merrill Lynch) Together, they offer rare, first-hand insight into what independence really looks like beyond the headlines: the risks, rewards, surprises, and decisions that shaped their journeys. Listeners will learn: What drove each advisor to leave their firm—and what ultimately tipped the scales. How they managed the fear of client loss—and what actually happened next. The biggest surprises of running their own business—and the lessons they’d share with others. How independence reshaped their client relationships—and their lives. And much more from our guest-submitted questions. It’s an unfiltered, practical look at transition from those who’ve lived it and a powerful resource for any advisor exploring what could be next—whether currently at a wirehouse or already an independent business owner. 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 Activating Plan B: Wirehouse Breakaways Build a Legacy Family Wealth Office Trent Leyda and Kay Campione offer a unique perspective on their time at Morgan Stanley, how it had come to diverge from their vision of building a family office they would entrust with their own families’ wealth, and how they are better equipped to realize that vision as an independent firm. Outgrowing the Employee Model: How an ex-Merrill Advisor Found Autonomy & Abundance in Independence Jerry Davidse discusses his transition from Merrill to building RIA firm Presilium Private Wealth with partner Brook Hart. He shares how they gained the freedom to communicate and create an exceptional experience for their clients, their outstanding portability ratio, uptick of referrals, and more. Seeing the Future Through the Eyes of the Client: A $770mm UBS Breakaway Story Matthew Murphy and Rebecca Baker of Marble Wealth discuss their choice to leave UBS and opt for independence early in their careers, the impact of signing on to the firm’s retire-in-place program ALFA, their age as a competitive advantage, and much more. A $1B+ Wells Fargo Breakaway Team Gets Re-Energized in a New Model In building a $1B business at Wells, Angie Ostendarp and Jordan Raniszeski realized they had outgrown the model, which limited their ability to serve their clients and continue their growth trajectory. They share why supported independence was the right fit and how it’s changed their path toward the future. Also available on your favorite podcast app and other media sites

Neil Rubinstein, a Private Advisor and Managing Director at Rockefeller Capital Management, shares insights from his transition from Merrill after 18 years. He discusses how Rockefeller offers exclusive access to alternative investments and enhanced client services, which he believes were limited at Merrill. Neil delves into the frustrations he faced at his former firm and how the new platform has driven significant growth for his practice. He emphasizes the importance of aligning firm values with client-focused services and the evolving definition of success in wealth management.

With Alex Markowitz – Founding and Managing Partner, Alteri Wealth Overview After more than a decade at Merrill, Alex Markowitz wanted to serve clients differently, without quotas or constraints. He launched Alteri Wealth, an independent firm built on empathy, teamwork, and what he calls a “financial physician” approach to client care and growth. 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… Not every advisor aims to work in wealth management—and even fewer begin in medical school. However, for this episode’s guest, the similarities between medicine and financial advice are strong: empathy, the desire to help, and the commitment to “do no harm.” Alex Markowitz couldn’t imagine taking on the debt of medical school. But he could envision serving those who needed his help another way: as a financial advisor. That belief would ultimately lead him from the world of medicine to Merrill Lynch, and later, from Merrill to independence. After more than a decade in the wirehouse environment, Alex found that the rules, quotas, and bureaucracy left little room to be a true fiduciary. He couldn’t thrive in a profession where corporate structures dictated both his future and the outcomes of those he served. The turning point came when he began asking a simple question: “If I were fully independent, how would I serve my clients differently?” A year and a half later, as Founding Partner of Alteri Wealth, Alex is answering that question every day. Built around a “financial physician” approach to client care, the firm’s growth comes entirely through referrals—no marketing, no lead generation, just radical candor and results. In this episode, Louis Diamond speaks with Alex about his journey, including: Recognizing misalignments with the wirehouse—and how that reality set his thoughts on independence in motion. Leaving Merrill to build an independent firm—and how that unlocked the ability to merge multiple solo practices into a unified team. The value of hiring a COO—and why they saw the role as “essential” from day one. The “clients first” approach—and how it serves as both their guiding principle and a powerful growth strategy. The “gathering assets” mindset of the wirehouses—and how being free of that allows him to think of his business as a business. It’s a candid look at what life after the wirehouses can look like—and how independence can transform not just a business, but the very way an advisor defines success. 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 Diamond Consultants Merrill Advisor Transition Report This annual “firm-focused report” takes a closer look at advisor movement to and from Merrill during the first half of 2025. The Advisor Transition Playbook: Inside Baseball on Due Diligence, the Move, and Everything In Between A guide to advisor transitions: due diligence, culture, deals, client comms,and lessons from the $129B Merrill breakaway. Mindset Shift: Why Advisors are Forgoing a Recruiting Deal and Leaping Right to Independence 6 reasons why more advisors are choosing to bet on themselves before monetizing their businesses. Alex Markowitz Founding Partner Alex Markowitz is a Founding Partner of Alteri Wealth, where he leads with a singular focus: his clients and their families. With a background in Biological Anthropology and Chemistry from UC San Diego, graduating Cum Laude, Alex initially pursued a medical degree before discovering his true calling in financial services. This pivot led to a distinguished 13-year career at Merrill Lynch, where he rose to the rank of Senior Vice President and was honored on the Forbes Best-In-State Next-Generation Wealth Advisor List in 2023. Driven by a desire to serve clients more holistically, Alex co-founded Alteri Wealth to build the Family Office of the future. One that integrates every aspect of a client’s financial life with innovation, care, and purpose. Known as a “financial physician,” Alex takes a comprehensive and diagnostic approach to wealth management, ensuring that each client’s unique needs are addressed with precision and empathy. Alex’s passion for helping others extends beyond his professional life. He is deeply involved in his community, volunteering with his local Temple, The Friendship Circle—an organization supporting families of children with disabilities—and the City of Hope in the fight against cancer. A proud resident of Westlake Village, Alex shares his life with his wife Michelle and their beloved rescue dogs, Dom and Bon Jovi. Outside of work, he’s an avid Miami Dolphins fan, LEGO enthusiast, and bourbon aficionado. His ideal evening includes a glass of bourbon, a classic Carole King or James Taylor record spinning on the turntable, and the challenge of constructing intricate LEGO masterpieces. Also available on your favorite podcast app and other media sites

Jarrod Malone and Michael Bressan, partners at Shumaker, are experts in advisor transitions and legal disputes. They discuss the rising trend of Temporary Restraining Orders (TROs) against departing advisors, highlighting the importance of legal guidance in minimizing risks. They explain how wirehouses like Merrill identify targets for TROs and share best practices to protect against litigation. Notable cases and common advisor mistakes are also explored, underscoring the significance of careful planning and compliance during transitions.

With Joe Duran – Managing Partner, Rise Growth Partners Overview He’s built and rebuilt some of the industry’s most successful firms and now he’s helping others do the same. In this episode, Joe Duran, the founder of Rise Growth Partners shares lessons from building, selling, and starting again, and how staying curious and adaptable fuels lasting success. 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… Joe Duran’s career has always been about reaching new heights—and then helping others climb on their own. A proverbial mountain climber himself, Joe built and sold two of the most successful firms in the RIA space: Centurion Capital and United Capital. Today, Joe sees himself as a sherpa—guiding the next generation of entrepreneurs through his latest venture, Rise Growth Partners. His story is one of constant reinvention, relentless curiosity, and the humility to keep asking one simple question: “What if I’m wrong?” Joe first joined us on the show back in 2020, shortly after the sale of United Capital to Goldman Sachs. Now, with the benefit of both hindsight and foresight, Joe revisits that experience and explores the mindset behind building truly world-class firms, including: The Goldman experience—and what he learned from the sale of United Capital. The development of Rise—and how he sees it helping to shift the narrative in the industry. Learning from your clients instead of your competitors—and why that’s the real key to building a world-class firm. Finding an investor that can “really help you—and why you need to look beyond “financiers.” Adding services without adding staff—and when you shouldn’t look in-house for solutions. Challenging your assumptions—and how to stay relevant in an industry that never stops changing. And why being great doesn’t necessarily mean being the biggest. Joe also reflects on how the industry can avoid the risk of mega-RIAs repeating the mistakes of the wirehouses. It’s a candid and thought-provoking conversation about reinvention, leadership, value creation, and what it means to evolve from mountain climber to sherpa from one of the industry’s trailblazers. 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 Why Settle for “Good Enough” When Great is Possible? In a vastly expanded industry landscape with more high-quality options than ever before, some advisors settle for “good enough” when the potential for “great” is often within reach. What’s holding them back? Limitless Growth: Building the Business You Want and the Life to Match Stephanie Bogan, founder of Limitless Advisor, offers a glimpse into the advice and perspective she shares with advisors and business leaders in the wealth management world, focusing on mindset and methods, and their relationship to achieving one’s best business life. Wealth Management Landscape at a Glance The wealth management industry offers more options than ever, making it challenging to identify and compare the various models. We created this “at a glance” continuum infographic—to help you navigate the different models and understand how their features stack up. Joe Duran Managing Partner Joe Duran is a serial entrepreneur and an industry visionary in wealth management and wealthtech. Early in 2024, Joe and his team launched Rise Growth Partners (‘Rise’), the industry’s first harmonious financial partner. With firsthand experience in building nationally recognized registered investment advisers (RIAs), Rise’s team partners with middle-market RIAs, providing capital and strategic expertise. Previously, Joe was a Partner at Goldman Sachs, serving as Co-Head of the Workplace and Personal Wealth business. He founded and served as CEO of United Capital, one of the nation’s largest independent wealth management firms, which Goldman Sachs acquired in July 2019. Prior to that, he built and sold Centurion Capital–one of the first turnkey asset management platforms–to General Electric, where he served as President of GE Private Asset Management (now listed as NYSE: AMK). Joe is the author of three bestselling books on investing and entrepreneurship. He is a sought-after conference and podcast speaker and appears frequently on a broad spectrum of media, ranging from CNBC to Goop. Joe has MBAs from Columbia University and UC Berkeley, as well as an undergraduate degree from Saint Louis University. He is a CFA Charterholder and a member of the Young President’s Organization (YPO), the world’s largest leadership community of chief executives. A Yogi for decades, he meditates daily and is an avid beach volleyball player. Joe and his wife Jennifer cherish their three daughters and share a love of frequent travel, dining, dancing and live concerts. Also available on your favorite podcast app and other media sites

With Steve Davis, Founder & CEO, Madison & Elm Wealth Management Overview After more than a decade at Edward Jones, Steve Davis realized he’d outgrown the model. He wanted more control, flexibility, and the ability to serve clients his way. In this episode, Steve shares how he built a lean, focused, and highly efficient independent practice with LPL—and why success isn’t about size, but about designing a business that fits your life. 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… When we talk about advisors “outgrowing the firm,” it often sounds theoretical. For this episode’s guest, it’s anything but. After more than a decade at Edward Jones, Steve Davis found himself limited—unable to market his CFP® credential, restricted on hiring, and frustrated by compliance that treated every advisor the same, regardless of experience. The breaking point came when he lost a major client relationship: not because of service, but because he simply couldn’t access the solutions that his client needed inside the Edward Jones model. That was when it became clear that Steve hadn’t just outgrown Edward Jones; he needed a platform that matched where he wanted to take his practice well into the future. Today, as the founder of Madison & Elm Wealth Management, an independent practice affiliated with LPL, he runs what he calls a “hyper-efficient, hyper-focused” solo practice. With 60 clients, $60M in assets, and a net payout that well-exceeds that of his time at Edward Jones, he’s proven that independence isn’t just about size: It’s about control, choice, and building a business aligned with your life. In this episode, Jason Diamond dives into Steve’s story, including: The limitations he experienced at Edward Jones—and the tangible things he can now do for his clients and business as an independent. The options he considered—and why he passed on a lucrative W-2 recruiting deal. The process of transitioning out of Edward Jones—and why independence with LPL was the right path. The real value of freedom—and how it was reshaped both his practice and his perspective. Creating a business that aligns with his lifestyle—and why that was not possible at the firm. It’s an honest look at life after the W-2 world and how one advisor built a business that works smarter, not harder, with relevant takeaways for advisors 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 Post-Transition Survey: Checking in on Former Edward Jones Advisors Who Recently Moved Unfiltered, fresh, candid, and honest feedback straight from your Edward Jones peers who transitioned to another firm or model within the past 18 months. The Advisor Transition Playbook: Inside Baseball on Due Diligence, the Move, and Everything In Between From due diligence to culture fit, client communication to deal evaluation, there’s far more to moving than meets the eye. In this special Industry Update, Jason and Mindy unpack the real playbook behind advisor transitions – the triggers, misconceptions, and timelines – plus lessons from the recent $129B Merrill breakaway that prove why no advisor is “too big” for change. Wealth Management Landscape at a Glance The wealth management industry offers more options than ever, making it challenging to identify and compare the various models. We created this “at a glance” continuum infographic—to help you navigate the different models and understand how their features stack up. Steve Davis Founder and CEO Steve Davis is the founder and CEO of Madison & Elm Wealth Management. Steve is a Certified Financial Planner (CFP®) with over 14 years of experience supporting clients in pursuing their financial goals. He meets with clients in-person or virtually, partnering with them and proactively sharing his expertise in order to help maximize their opportunities. He has the support of a team of professionals at LPL Financial who are specifically equipped to handle the sophisticated needs of higher net worth clients. As a former Division I athlete, Steve brings the same focus and dedication to his clients that allowed him to excel on the baseball field. Steve grew up in Cincinnati, Ohio before attending Kent State University on an athletic and academic scholarship. After graduating magna cum laude with a degree in finance and entrepreneurship, he spent two years as an equity trader. He has been serving clients nationwide ever since. Steve lives with his wife and three children in the western suburbs of Chicago. Also available on your favorite podcast app and other media sites

With Adam Malamed—CEO, Sanctuary Wealth Hosted by Louis Diamond Overview Supportive independence has become one of the most dynamic segments of wealth management, offering advisors the freedom of independence with the scale and resources of a major firm. In this episode, the CEO of Sanctuary Wealth joins Louis Diamond to discuss Sanctuary 2.0: how the firm doubled in size, its vision for advisor autonomy, and the future of growth, technology, and partnership in the independent space. 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… Advisors considering independence often wrestle with a key question: “Do I want to go it alone—or have the backing of a platform?” That question gave rise to the concept of supportive independence—one of the most dynamic corners of the wealth management ecosystem. It bridges the gap between the turnkey structure of the wirehouses and the full autonomy of running your own RIA. The model offers ownership and freedom while surrounding teams with the infrastructure, technology, and expertise to accelerate growth and achieve scale. And it comes with an added advantage: a community built on accessible leadership and shared talent. It’s in this space that Sanctuary Wealth has carved out its niche. Since its founding, Sanctuary has become a top destination for elite wirehouse teams seeking greater freedom and control—without giving up the benefits of scale. With CEO Adam Malamed at the helm, the firm has entered what he calls “Sanctuary 2.0”—a new era of growth, innovation, and partnership designed to help advisors not only transition successfully but thrive long after the move. Building on his experience scaling Ladenburg Thalmann into a multi-billion-dollar enterprise, Adam is now leading Sanctuary into its next chapter with a sharp focus on growth, technology, and long-term sustainability. In just two years, he has helped the firm nearly double in size, expanded its reach through the acquisition of Tru Independence, and solidified its standing as one of the industry’s most compelling platforms for elite advisors. In this episode, Louis Diamond and Adam discuss: How Sanctuary doubled in size—and why its growth strategy continues to resonate with elite advisors. The balance of autonomy and support—and what makes Sanctuary’s formula work. Advisors’ long-term goals—and how the firm continues adding value well beyond the transition. The future of wealth management—and how technology, data, and AI are reshaping the platform. Sanctuary’s long-term strategy—and how succession planning, equity monetization, and access to capital remain central components. It’s a candid look at where one of the fastest-growing firms is headed and the value it offers advisors seeking a path to independence. 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 Mindset Shift: Why Advisors are Forgoing a Recruiting Deal and Leaping Right to Independence 6 reasons why more advisors are choosing to bet on themselves before monetizing their businesses. Firms That Win in 2025: What Advisors Are Really Looking For With advisor expectations evolving, not all “good firms” are winning the talent. Mindy and Louis Diamond share what today’s top advisors really value—and why some firms are standing out while others fall short. Wealth Management Landscape at a Glance The wealth management industry offers more options than ever, making it challenging to identify and compare the various models. We created this “at a glance” continuum infographic—to help you navigate the different models and understand how their features stack up. Alan Malamed  Chief Executive Officer Adam Malamed is the Chief Executive Officer of Sanctuary Wealth, where he leads the firm’s strategic vision, long-term growth initiatives, and commitment to innovation in the wealth management industry. Since assuming the role in 2023, Adam has focused on building the platform of the future investing in top talent, advanced technology, and scalable growth resources. His mission is to drive value for Sanctuary’s Partner Firms by helping them grow, operate more efficiently and build equity. Under Adam’s leadership, Sanctuary continues to solidify its position as the premier destination for sophisticated and elite financial advisors and wealth management firms. He oversees the firm’s long-term strategy with an emphasis on business expansion ensuring Sanctuary remains a leader in the Hybrid RIA space. With over 25 years of experience in financial services, Adam is a seasoned executive, entrepreneur, and board director. Prior to joining Sanctuary, he served as Executive Vice President, Chief Operating Officer, and Board Director at publicly traded Ladenburg Thalmann Financial, where he was instrumental in growing the firm’s revenue from $35 million to $1.5 billion. Adam earned a B.A. in Business Management from the University of Massachusetts Amherst and completed the General Management Program at Harvard Business School. Also available on your favorite podcast app and other media sites

A Special Industry Update, With Jason Diamond and Mindy Diamond Overview From due diligence to culture fit, client communication to deal evaluation, there’s far more to moving than meets the eye. In this special Industry Update, Jason and Mindy unpack the real playbook behind advisor transitions – the triggers, misconceptions, and timelines – plus lessons from the recent $129B Merrill breakaway that prove why no advisor is “too big” for change. 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… Everything about a transition can seem incredibly overwhelming. From understanding “the why’s” of a move, then conducting due diligence, and on to aligning the right models, and selecting the best firms, it might seem like a fairly linear process. And for some it can be. But for others, the layers of minutiae can be daunting. Essentially, it comes down to the adage, “You don’t know what you don’t know.” In this episode, Jason Diamond is joined by Mindy, to fill in some of those blanks and share some inside baseball on how to get from here to there, including: The main triggers that drive an advisor to consider a move—and why it’s typically not about frustration. The biggest misconceptions about change—and what most advisors say after they’ve transitioned. Conducting due diligence—and what key pieces of information you need to gather in the process. Assessing culture—and how to really get a sense of what a firm stands for. Transition deals—and how to identify if they are indeed a gift or a trap. The timeline of a move—and how long it really takes from exploration to transition. Communicating with teams and clients—and what you can or can’t do, and when. Plus, they add context to their advice by drawing from experience gained in the recent $129B Merrill breakaway move. Essentially, it’s a download of “everything you need to know when considering a move.” 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 $129B Blockbuster Move: Shirl Penney on Why This Transition Marks a New Era for the Industry The $129B OpenArc breakaway marks a watershed moment for wealth management. In this Rapid Reaction episode, Louis Diamond and Shirl Penney unpack what it means for the RIA model, advisors, and the future of industry competition. The Missing Narrative of the $129B Merrill Breakaway Story The largest (and quite possibly most significant) advisor breakaway in industry history made news this week. Yet instead of leading with the scale or significance of the move, headlines centered on Merrill’s lawsuit alleging corporate raiding. Transition Announcement: $129B Merrill Team Launches OpenArc Corporate Advisory with Support from Dynasty, Schwab, and Diamond Consultants We’re proud to share that one of the industry’s largest and most decorated advisor teams has launched OpenArc Corporate Advisory, a new national firm based in Atlanta, GA. It’s a hallmark transition from Merrill, with more than a decade of consulting and guidance from Diamond Consultants. Also available on your favorite podcast app and other media sites

With Shirl Penney—President and CEO, Dynasty Financial Partners, Hosted by Louis Diamond Overview The $129B OpenArc breakaway marks a watershed moment for wealth management. In this Rapid Reaction episode, Louis Diamond and Shirl Penney unpack what it means for the RIA model, advisors, and the future of industry competition. 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… When the news broke that a team managing $129B in client assets left Merrill to launch OpenArc Corporate Advisory, the headlines focused on the sheer scale of the move—and the ensuing legal firestorm. However, this transition represents even more: a defining moment for the independent wealth management movement and a demonstration of the industry’s evolving landscape. For years, independence has been steadily chipping away at wirehouse dominance. Yet OpenArc is proof that even the most elite and institutionally focused advisor teams see greater opportunity in starting their own firm. That’s where Dynasty Financial Partners comes in. Under Shirl Penney’s leadership, Dynasty has become synonymous with enabling large, complex teams to make the leap to independence, providing the scale, capital, and infrastructure needed to compete at the very top of the industry. And with OpenArc, Dynasty has helped one of the biggest breakaways launch a new enterprise built for the future. Yet getting the team to this moment was a decade in the making, with Mindy Diamond and Louis Diamond guiding the growing team through an educational journey on an ever-changing landcsape of possibilities. In this special Rapid Reaction episode, Louis and Shirl offer their perspectives on: Why the OpenArc deal is such a watershed moment. What it signals about the evolution of the RIA model and the industry at large. How it may influence other large teams contemplating their own futures. They also highlight key learnings for advisors watching this transition closely—and what it reveals about the next chapter of industry competition. It’s a rare inside look at a landmark deal in wealth management—and the insights it offers for advisors and firms across 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 Transition Announcement: $129B Merrill Team Launches OpenArc Corporate Advisory with Support from Dynasty, Schwab, and Diamond Consultants It’s a hallmark transition from Merrill, with more than a decade of consulting and guidance from Diamond Consultants. Transition Announcement: $5.5B UBS Mega-Team Leaves for RBC One of the top teams in the industry, led by the largest female advisor at UBS, Leslie Lauer, moves to RBC Wealth Management. Shirl Penney  President and CEO Shirl Penney is the founder, CEO, and member of the Board of Directors of Dynasty Financial Partners, one of the leading advocates and platforms for independent wealth advisor firms. Since its launch in 2010, Dynasty has grown to nearly $115B assets under management. Shirl is recognized throughout the industry for his thought leadership and insight on key trends and issues impacting the rapidly evolving wealth management landscape. Investment News named him to its 2015 list of ‘40 Most Influential People in Wealth Management Under 40,’ as well as to its inaugural list of ‘Icons and Innovators in Wealth Management’ the following year. In 2019, Dynasty relocated from New York, NY, to St. Petersburg, Florida, and Shirl quickly became a leading voice in the city’s business community, embracing local causes and giving back to organizations serving the area where Dynasty employees live and work. In 2023, he was named ‘Florida Entrepreneur of the Year,’ and in 2024 the Tampa Bay Business Journal selected him for its ‘Power 100 List’ of the area’s most influential business leaders. Prior to Dynasty, Shirl worked at Citi Smith Barney in various leadership roles including director of private wealth management and head of executive financial services. Shirl is from Eastport, Maine, and graduated from Bates College. He and his family live in St. Petersburg where they are active in numerous charitable causes focused on education, poverty, ALS, and veteran services. He is a Fellow of the inaugural class of the Finance Leaders Fellowship, a member of the Aspen Global Leadership Network, and a member of the Young President’s Organization of Florida. Also available on your favorite podcast app and other media sites

With John Krambeer, Founder and CEO, Validus Capital Overview Few advisors build a multi-billion-dollar RIA. John Krambeer has done it twice. In this candid conversation, the Validus Capital CEO reflects on his journey, how independence has evolved, and the hard-won lessons that guide him now. 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… Some advisors break away once in their careers. John Krambeer has done it twice, each time building a multi-billion-dollar RIA. That kind of repeated success is rare in any industry—and in wealth management, it’s almost unheard of. Yet John’s journey provides a front-row seat to the evolution of the independent space, from its early pioneering days to the sophisticated and bespoke multi-family office models we see today. Long before “going independent” became popular, John left Merrill’s Private Banking & Investment Group (PBIG) in 2004 to launch Camden Capital. He was early to the RIA movement, betting on transparency, better reporting, and access to private investments when few advisors dared to break away and forge their own path. In 2022, John made the difficult decision to leave Camden and do it all over again—this time building Validus Capital, now a $2.5B multi-family office designed with hard-earned lessons in mind. In this conversation with Louis Diamond, John shares a candid look at: What it was like to break away in the early 2000s—and how platforms and support for independents have evolved since. Why he walked away from the first firm he built—and what drove him to take on the challenge a second time. The choices behind building Validus Capital today—and the firm’s approach to private markets and family office services. The hard lessons of growth—and what he wishes he had done differently the first time around. John runs back the game films to provide candid insights for prospective and current independent business owners. It’s a rare opportunity to learn from someone who not only helped shape the independent space but has proven that with clarity, conviction, and the right people, you can build lasting success more than once. 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 Best of the Best: 10 Ways Top Advisors Are Growing Their Businesses— A Special Industry Update A “Top 10” list of firm-level innovations and grassroots methodologies from some of the most successful advisors, teams, and firm in the business. Listen in to spark ideas designed to drive greater growth. Player or Coach? Why Every Advisor Eventually Has to Choose As advisory firms grow, founders often face a critical inflection point: double down on being a top producer or evolve into a leader who builds lasting enterprise value. Wealth Management Landscape at a Glance The wealth management industry offers more options than ever, making it challenging to identify and compare the various models. We created this “at a glance” continuum infographic—to help you navigate the different models and understand how their features stack up. John M. Krambeer CEO & Founder John Krambeer is the Founder and Chief Executive Officer of Validus Capital and has served as a financial advisor to wealthy families and institutional investors for over three decades. Mr. Krambeer has extensive experience providing wealthy families with strategic investment advice, structuring portfolios to meet long-term objectives, and creating private investment vehicles across the alternatives landscape. Mr. Krambeer has spent his career working with both traditional and alternative investment managers, evaluating asset allocation strategies, managing long-term equity portfolios, and implementing options strategies for concentrated stock positions. Mr. Krambeer has been recognized by Barron’s as a Top 100 Independent Wealth Advisor four times and as one of America’s Top Financial Advisors seven times. Prior to founding Validus Capital, Mr. Krambeer founded Camden Capital in 2004 and served as its Chief Executive Officer and Partner. He led the firm’s investing activities and established its private fund platform. Before forming Camden Capital, Mr. Krambeer spent 16 years at Merrill Lynch, where he helped build the Private Banking and Investment Group. Mr. Krambeer is a member of the Advisory Board of FrontRange Capital Partners, Saybrook Fund Advisors, NewRoad Capital Partners, and Rosemawr Management. He is active in the community, supporting various philanthropic organizations, including serving as the Founder and President of the Southern California Rodeo Boosters, an organization devoted to helping junior high and high school students competing in the sport of Rodeo with scholarship support as they transition to college. Mr. Krambeer was an inaugural member of the Schwab Institutional Advisory Council for Advisors Turning Independent (ATI) – a sounding board for firms transitioning to independence in the evolving wealth management industry. Mr. Krambeer received a Bachelor of Science in Finance from Woodbury University. Recognition Barron’s Top Wealth Managers 2014 – 2020, 2024-2025 Forbes/Shook Best in State Wealth Advisor 2025 Forbes/Shook America’s Top RIA Firms 2024 LA Times Visionaries 2021 LA Business Journal Leaders of Influence 2020 – 2021 Also available on your favorite podcast app and other media sites