The Diamond Podcast for Financial Advisors

With Jack Ginter – CEO and Partner, Callan Family Office Overview Jack Ginter, CEO and Partner of Callan Family Office, discusses how understanding the unique needs of clients and delivering upon those needs are the key to building a world-class advisory business. The 30-year industry veteran shares his journey and offers actionable advice to advisors of all levels. 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… What does it really take to build a world-class advisory business? Ultimately, the answer seems quite simple. As Jack Ginter shares, it comes down to the recognition that clients at every level of wealth have different expectations—and to meet those expectations means thinking differently about your service model. It was an answer that developed over the course of Jack’s three-decade career serving ultra-high net worth clients. This discerning group expected much more than what was available in the “packaged” solution environment of the big brokerage firms. It’s advice that’s relevant to advisors serving all client segments – from the mass affluent on up – as competition from all corners of the industry drives the need to offer more than core planning and investment services. In Jack’s case, he left his role as president of Abbott Downing, Wells Fargo’s ultra-high net worth business unit in 2021, and in 2022 launched Callan Family Office. This uniquely self-financed independent firm partnered with Callan LLC., one of the largest independently-owned investment consulting firms in the US, and was designed from the ground up with specific intentions around serving the unique needs of their ultra-high net worth client base. In this episode with Louis Diamond, Jack talks candidly about: His blockbuster break from Abbott Downing—and what led him to launch an independent firm. The choice to launch the now $5B Callan Family Office—and why he did so without taking on debt or selling equity. The relationship with Callan LLC—and what value the firm brings to the table. The specific client needs he sought to address—and how that has become the competitive advantage he sees in independence. The importance of customization—and how it helps deliver what it really takes to go head-to-head with the biggest names in the business for the wealthiest clients. And, ultimately, advice for advisors of all levels on what you need to pay attention to when taking your business upmarket. It’s the one episode that reveals why advisors – regardless of where they practice – need to ask themselves this critical question: How can we best serve our clients? 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 What’s in it for Clients? 7 Ways They Can Benefit from an Advisor’s Transition Many advisors cite “improving client service” as the catalyst for a move—but knowing what the real impact will be is critical. The Inverse Grid: Is Your Firm Providing Enough Value? When considering the products and services a firm provides in exchange for the revenue they keep, is it really a good value? Innovative Ways the Best Independent Firms Fuel Growth: A Special Industry Update Independence allows advisors to create an unlimited menu of innovative value-add services for their clients. And as the industry landscape expands, employee advisors are finding ways to get in on the action. Learn specific examples of the various services offered by some of the industry’s leading independent firms. Jack Ginter Chief Executive Officer Partner Having extensive experience that extends across ultra-high-net-worth wealth management and corporate banking, Jack Ginter is responsible for the firm’s overall growth and management, with a focus on optimizing the client experience and delivering exceptional client service. He takes a leading role in fostering strategic relationships, business development, and team building. At Callan Family Office, Jack builds on his three-decade career of creating and building complex businesses. Prior to Callan Family Office, Jack served as president at Abbot Downing, Wells Fargo’s ultra-high-net-worth business, where he oversaw the merger of legacy family office businesses, which ultimately accounted for more than $50 billion in assets under management. He also served as interim head of The Private Bank at Wells Fargo in 2021. In 2008, Jack joined Calibre, Wachovia’s ultra-high-net-worth management business and a predecessor bank of Wells Fargo, where he served as the regional managing director in Philadelphia. Earlier in his career, he worked as the city executive for U.S. Trust in Philadelphia. Jack graduated from Saint Joseph’s University in Philadelphia with a bachelor’s degree in finance. He serves as vice chair of the board of directors for the Zoological Society of Philadelphia and was previously an executive advisor to the Wells Fargo Women’s Team Member Network. Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

An annual digest for financial advisors with hosts Louis Diamond and Jason Diamond Overview A compendium of the best advice from top advisors on eliminating limitations and bureaucracy, fostering growth, maximizing business value, and ensuring your firm is the right place for your clients and business for the long term. 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… Even after 6 years of producing this series, we’re still in awe of the extraordinary wisdom shared by the advisors, firm leaders, and industry thought leaders who join us on the show. But it’s the advisor interviews that listeners often find most captivating and instructive. It’s these advisors’ candid perspectives on their personal journeys that listeners find compelling: From their experience on liberating their businesses from limitations to finding more freedom; to their secret sauce around growth and maximizing value; and on to building businesses the right way—providing a succession path and ultimately, a legacy. 2023 proved to be the year that advisors took a hard look at their businesses and their firms with a long-term point of view. And they asked themselves the tough questions, like: What steps should I be taking to maximize the value of my business? Where can I find the freedom to run my business the way I want to? Are the firm’s management and policies negatively impacting my clients and my earning potential? Why are respected colleagues leaving the firm? And, ultimately, is this firm the right place for my clients and business for the long term? So, we took on the annual task of combing through each of a year’s worth of episodes to find the best advice from your peers. Our goal: To share a digest of relatable lessons and actionable anecdotes from those who’ve walked the walk—18 guests who were kind enough to lend their time and experience. Yet there are many more amazing guests, incredible topics, and relatable soundbites that we could not include in this digest. So be sure to catch up with the entire series on our website, Apple Podcasts, or any major podcast platform. Please note: This episode represents the first episode in which we use our new call name. It’s a change that reflects our commitment to providing the industry’s most respected and objective content on transitions, advisor growth and, of course, independence. As Featured on this Episode: Scott Bills, Chief Executive Officer, Partner, Nilsine Partners Matt Blocki, Founder and CEO, Equilibrium Wealth Advisors Matt Celenza, Founder and Managing Partner at Boulevard Family Wealth Chris Cooke, Cooke Financial Group Andy Ferguson, founder and CEO of Proquility Private Wealth Partners Ghislain Gouraige, Partner, NewEdge Wealth Jonathan Hirtle, Executive Chairman at Hirtle, Callaghan & Co. Marc Horner, Wealth Advisor and Founder of Fairhaven Wealth Management Leo Kelly, Founder and CEO, Verdence Capital Advisors Evan Mayer, Founder and CEO of Fortuna Wealth Shane Morrow, Managing Partner & CEO, IronBridge Wealth Counsel Matthew Murphy, CEO & Partner, Marble Wealth Michael Nathanson, CEO and Chair, The Colony Group Rory O’Hara, Founder and Senior Managing Partner Ausperity Private Wealth Jack Petersen, Managing Partner and Advisor at Summit Trail Advisors Craig Savage, Partner, Wealth Advisor, William Blair Ray Sclafani, CEO and Founder, ClientWise Alan Zafran, Co-Chief Executive Officer and Co-Founding Partner of IEQ Capital 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 An Advisor’s Guide to 2024: The Impact of 2023 on the Coming Year A review of the most influential trends that impacted advisors in 2023, plus predictions and actionable guidance for 2024 to help advisors think more strategically and set longer-term goals to grow, protect, and future-proof their businesses. Of Myths and Moving 2023 Setting the record straight on the most common misconceptions that can block financial advisors from achieving their best business lives. Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

A Special Industry Update with Mindy Diamond and Louis Diamond Overview A review of the most influential trends that impacted advisors in 2023, plus predictions and actionable guidance for 2024 to help advisors think more strategically and set longer-term goals to grow, protect, and future-proof their businesses. 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… What were some of the most impactful trends of 2023? How did these trends influence the decisions advisors made around change? And what can be expected from 2024 when it comes to recruiting, deals, movement, and growth? It’s the annual episode in which we step back to review all that was learned from the year passed with actionable guidance for the coming year so advisors can think and act with a longer-term perspective. With an entire year serving as our guide, we’ll answer some of the top questions advisors have, including: What can be learned from the fact that there’s been an uptick in the number of billion-dollar teams who transitioned to other firms and models? What are the trends in transition deals and the winners and losers in the battle for top talent? How have changes in the industry landscape impacted advisor movement? And we dive into the trends we anticipate will have the greatest influence on the coming year, such as: Private equity’s path for wirehouse teams with their sights set on building independent enterprises. The influencers on multi-generational teams and their role in driving movement. Changes in compensation and sunset programs. And much more. We’re grateful for the opportunity to have shared an extraordinary year of education, knowledge, and perspectives with you. 2024 is destined to be an exciting year—and we’re looking forward to providing more impactful topics and insights along with candid conversations around transitions, growth, and an ever-changing industry landscape with some of the industry’s brightest movers and shakers. With that in mind, we’re excited to announce that we’re changing the name of this show to better reflect the wider range of content you’ve become accustomed to as the series evolved over time. So, starting in 2024, you’ll find us by our new calling card: The Diamond Podcast for Financial Advisors: Insights on Transitions, Advisor Growth, and Independence. Until then, listen in to what is traditionally one of our most downloaded episodes of the year! 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 Of Myths and Moving 2023 Setting the record straight on the most common misconceptions that can block financial advisors from achieving their best business lives. The Next Big Thing: Private Equity Disrupting the Landscape for the Best Teams Private equity firms are showing an enhanced interest in wirehouse breakaways, investing directly in these teams on day one. Learn what’s driving this new trend, which teams are most appealing, how it will impact movement, and more. MaxCeV™: How to Maximize Your Career Enterprise Value This formula seeks to provide a process by which an advisor can “calculate” the sum total of 4 key factors—to conceptualize what their career enterprise value really is and how to achieve it. Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

With Steve Lockshin – Entrepreneur and Founder of Vanilla and AdvicePeriod Overview Steve Lockshin, founder of AdvicePeriod, Vanilla, and others, offers a unique perspective on how an advisor’s entrepreneurial DNA can drive their ability to serve clients and grow untethered, particularly in the independent space. 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 advisors often face an unfortunate truth: The decision-makers at a firm often know very little about being an actual financial advisor. Steve Lockshin has sat on both sides of the proverbial table, and he shares two unique vantage points: The perspective of an advisor who recognizes the limitations at his current firm and the entrepreneur and problem solver who fills those gaps with new solutions. Steve first realized his love for the wealth management industry as an unpaid college intern at Legg Mason, later shifting his skills to broker and then on to financial advisor. Yet he gained more recognition as he flexed his entrepreneurial muscles, launching some of the industry’s largest independent wealth management and fintech firms, including: Convergent Wealth Advisors, a company he founded in 1994 and later sold to City National Bank; the consolidated performance reporting platform Fortigent, which sold to LPL; and more recently, wealth management firm AdvicePeriod, which merged with Marty Bicknell’s Mariner Wealth in the summer of 2021 in a blockbuster transaction. Featured several times in Barron’s Top Advisors and even landing the number one spot in the country, Steve’s accolades demonstrate his stature in the advisory space. Yet it’s Steve’s prescience that’s the real story here: He seems to have the natural ability to see – and create – the next big thing in wealth management. It’s the notion of working outside the lines to create unique solutions that drive business growth and enterprise value. In this episode, Steve discusses his extraordinary journey and shares advice with Louis Diamond, including: The difference between traditional and independent firms—and how independence offers the ability to better fulfill clients’ unique needs. Being in charge of one’s destiny—and how the inspiration he derives from working with others drives him. Updates on his latest endeavor, Vanilla—and what motivated him to build a fintech platform that simplifies and standardizes the estate planning process. The reality of AI—and what role he sees it will have in wealth management. Plus, Steve shares what it’s like to be Michael Jordan’s financial advisor—and much more. It’s an episode with extraordinary value for advisors, business owners, and everyone in between—because even if you’re building your business in a wirehouse, there’s plenty to learn from an industry powerhouse who has found pathways to channel his entrepreneurial spirit toward 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 The Path to Independence: 6 Key Elements to Consider Before Starting Your Journey With so many options to choose from, how does an advisor decide which path to independence to take? Everything You Need to Know About Independence: An Industry Update Jason Diamond joins the show for a quick yet thorough education on the continually evolving independent space answering the questions that many of our advisor-clients ask us during due diligence. How to Maximize Your Career Enterprise Value This formula seeks to provide a process by which an advisor can “calculate” the sum total of 4 key factors—to conceptualize what their career enterprise value really is and how to achieve it. It’s one of the central tenets of Diamond Consultants’ process in guiding advisors through due diligence. Steve Lockshin Founder and Principal Steve Lockshin is a Founder and Principal of AdvicePeriod and former Chairman of Convergent Wealth Advisors, a company he founded in 1994. Steve helped pioneer the independent advisory industry, building one of the largest independent RIAs in the nation. Lydian Wealth Management was acquired by City National Bank (NYSE:RY) in 2007. He is also the founder and visionary of Vanilla, a tech-enabled platform to automate estate planning for advisors and lawyers. Steve is widely known for his contemporary approach to wealth advisory and estate-planning knowledge and is a frequent speaker on both topics. He memorialized his concerns about conflicts of interest in the industry in his guide for consumers, Get Wise to Your Advisor (John Wiley & Sons: 2013). Steve has received many industry accolades, including being ranked #1 by Barron’s in both their state (CA) and #1 in the national rankings in numerous periods. In 2019 Steve was named WealthManagement.com’s Thought Leader of the Year and the firm has received numerous awards for its culture and industry pace-setting. Steve is a champion for the fiduciary standard and consumer education in financial services. In 2012, in an attempt to unify the industry by providing a simple set of standards for consumers, Steve helped launch Advizent. In 1995, as part of the development of Convergent Wealth Advisors, Steve founded CMS Reporting. CMS Reporting is now known as Fortigent, LLC, a leading provider of outsourced wealth management solutions with more than $75 billion in assets on its platform. Fortigent was acquired by LPL Financial Holdings, Inc. (NASDAQ: LPLA) in 2012. Steve has been a member of the Young Presidents Organization (YPO) since 1998 and is an accomplished pilot and an enthusiastic lacrosse fan. Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

With Chris Cooke and Brian Cooke – Cooke Financial Group Overview What motivated this $1.6B multi-generational Wells Fargo team to leave the wirehouse world for supported independence with a relatively unknown broker dealer? It’s a candid conversation with Chris and Brian Cooke of Cooke Financial about how their desire for greater freedom and control coupled with support and resources drove their decision and fueled their amazing growth. 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… Seven years ago, Chris and Brian Cooke made headlines for breaking away from Wells Fargo Advisors to join the “under the radar” Indianapolis broker dealer Noyes & Co. Certainly, it was big news for a $1.6B team to leave the wirehouse world—particularly in 2016. But here’s what makes it even bigger news today—especially if you’re a wirehouse advisor. It demonstrates the “pushes and pulls” that motivated their decision to leave Wells, which we find are common amongst many top advisors like them: The feelings of being limited by their firm. The management changes that gave them pause to consider whether where they were was indeed the best place to serve their clients and grow their business. The need for greater freedom and control. The desire to be entrepreneurs. The ability to be a part of something bigger than themselves, with equity for the long-term. And to create a legacy that they could continue for generations to come. John Cooke started the business in 1969 as part of Prudential Securities, with Chris and Brian joining in 1992. Taking their father’s lead, they maintained the family feel—developing strong relationships with their clients through authenticity and empathy. And in doing so, they grew to over $1.6B in assets under management. Yet things were changing at Prudential. In 2003, the brokerage unit was sold to Wachovia, which later sold to Wells Fargo. So, like many of their peers in the wealth management industry, the Cookes tired of the changing of the corporate guards—and running the business and serving clients the way they wanted to became increasingly difficult. Yet, as a billion-dollar team, they had other big firms knocking on their doors. But Chris and Brian knew they wanted to be entrepreneurs, have greater control, and were interested in equity in something bigger than themselves. So, in 2016, the $1.6B team left Wells for Noyes. And in 2018, with the help of Jim Dickson, Noyes was relaunched as Sanctuary Wealth with the Cooke Financial Group as founding members. Louis Diamond talks with Chris and Brian in one of our final episodes of the 2023 season. They talk about: Their transition to Noyes—and the birth of Sanctuary Wealth. The choice to opt for what would become “supported independence”—and not building an independent firm themselves. Going independent—and why they didn’t consider a transition deal from another firm. The motivations around their decision—and what anticipated changes in wealth management shaped their decision to leave the wirehouse world. The power of a family business now welcoming the 3rd generation of Cookes—and how they developed into the $2.4B enterprise it is today. It’s a very special episode for many reasons—one that represents the evolution of individuals and the businesses they built in a changing wealth management landscape. And even our own business and this series are evolving as a result of these changes—representing the growth of the industry and our steadfast goal to keep listeners informed and empowered. So listen in and stay tuned for some exciting updates along with our new calling card. Want to learn more about where, why, and how advisors like you are moving? Email mdiamond@diamond-consultants.com or feel free to give us a call at 908-879-1002. Related Resources The Independent Alpha: Making the Breakaway Math Add Up Advisors breaking away for independence know what they are giving up, so how can they justify making this leap? The answer starts and ends with growth. How to Navigate the Emotional Rollercoaster Ride of a Transition: A Special Industry Update Mindy Diamond and Louis Diamond share ideas from 25 years of experience to help advisors navigate the daunting process of transition and advice on how to better cope with what can feel like a tumultuous ride. Sanctuary Wealth $25B Later: An Inside Look at the Firm’s 4-Year Growth and What Lies Ahead Jim Dickson, founder and CEO of Sanctuary Wealth, revisits the show as the firm celebrates its 4th anniversary, to recap the early days of Sanctuary, discuss where the firm is today and the growth of supported independence, plus share lessons they’ve learned along the way and much more. Chris Cooke Chris Cooke has been an integral part of the evolution of the Cooke Financial Group. He joined the firm in 1992 as Managing Director of Investments and in 2016 he arranged the merger that launched Sanctuary Wealth, now one of the fastest-growing hybrid RIAs in the country. Cooke Financial Group became the inaugural team on Sanctuary’s exclusive Partnered Independence℠ platform in 2018. Prior to joining Cooke Financial Group, Chris was an accountant at a national financial services firm. His experience in auditing and performance monitoring was instrumental as the team continuously developed their service capabilities. As one of the owners of the Cooke Financial Group, Chris’ expertise is concentrated in wealth management, retirement planning, and estate planning. A non-practicing CPA and attorney, Chris is a member of the Indiana Bar Association. He also holds the professional designation Certified Investment Management Analyst (CIMA®), a bachelor’s degree in accounting from the University of Notre Dame, and a Juris Doctorate with a focus on tax law from the Indiana University Law School in Indianapolis. Throughout his 30+ year career, Chris is consistently recognized by leading financial publications as one of the very best in the country, and in Indiana, for comprehensive investment consulting and wealth management. Some of his recent accolades include: #1 Best-in-State Wealth Advisor – 2018-2023, Forbes/SHOOK Research Top 250 Wealth Advisors – 2018-2023, Forbes/SHOOK Research Top 1200 Financial Advisors – 2018-2023, Barron’s Top 400 Advisors in America – 2013-2019, Financial Times He is also a sought-after subject matter expert. He’s spoken before the Barron’s Top 100 Financial Advisors, at Pershing’s INSITE Conference, and at the Forbes/SHOOK Top Advisor Summit. Chris has been quoted in The Wall Street Journal and the Indianapolis Business Journal along with many other national publications. Chris is a history buff and for over 20 years has been actively involved with Conner Prairie, an interactive history museum affiliated with the Smithsonian. He is currently Chairman of the Conner Prairie Foundation Board of Directors and, in his local community of Fishers, Indiana, he is a board member for the Ascension North Region Hospitals (Fishers, Carmel, Kokomo, Anderson). He is also a Finance Committee member for Elevate Ventures. Chris enjoys waterskiing, tennis, and the family horse farm. He and his wife Elizabeth have three grown children, two of whom have joined the Cooke Financial Group.   Brian Cooke Brian Cooke joined the Cooke Financial Group in 1992 and earned the professional designation of Certified Investment Management Analyst (CIMA®) in 1995. He is a seasoned Wealth Advisor with over 30 years of industry experience in assisting individuals, families, and institutions in securing their financial future. As one of the owners of the Cooke Financial Group, Brian specializes in asset allocation analysis, professional money management consulting, and client communications. Brian is consistently recognized by leading financial publications as one of the very best in the country, and in Indiana, for comprehensive investment consulting and wealth management. Some of his accolades include: #1 Best-in-State Wealth Advisor – 2018-2023, Forbes/SHOOK Research Top 250 Wealth Advisors – 2018-2023, Forbes/SHOOK Research Top 1200 Financial Advisors – 2018-2023, Barron’s Top 400 Advisors in America – 2013-2019, Financial Times Advisors Under the Age of 40 – 2007, On Wall Street Magazine Forty Under 40– 2006, Indianapolis Business Journal Brian and his brother, Chris, are co-founders of Sanctuary Wealth. With a shared vision of partnered independence, the Cooke Financial Group was the first team to join Sanctuary in 2018. Sanctuary is now one of the fastest-growing hybrid RIAs in the country. Today there are over 80 partner firms in 20 states with total assets under management of over $25 billion. He has a bachelor’s degree in business/marketing from the Kelley School of Business at Indiana University. Brian is a member of the Penrod Society and St. Simon the Apostle Church. He is a member of the Professional Advisor Leadership Council at the Central Indiana Community Foundation. Brian is a member of the finance committee for the Cathedral Foundation. He is also a volunteer for Homes of Hope and Youth With a Mission (YWAM). Brian and his wife, Amy, live in Indianapolis and have two children: Anna and David. Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

With Matthew Celenza, Founder and Managing Partner at Boulevard Family Wealth Overview Wirehouse advisors often wonder what they are missing as they watch peers and colleagues break away to the independent space. Matt Celenza was once that guy. He believed he had access to everything his UHNW clients needed—until his move revealed just how much more he could do with true open architecture to improve client service and grow faster. 6 years after his first visit on this series, Matt comes back to share an insider perspective on “what he wishes he knew before breaking away”—the good and the bad. 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 was nearly six years ago when we welcomed our first guest on this series. At that time, Matt Celenza was just a few months into life as an independent business owner, the founder of Boulevard Family Wealth in Beverly Hills. A seasoned industry professional hailing from Morgan Stanley, Smith Barney Citigroup, and later Merrill, Matt made the leap to independence after building an extraordinary $800mm-plus business serving ultra-high net worth clients. Yet he left Merrill to build his own RIA firm. A transition like this begs the questions: Why leave when business is good? What could possibly be missing that would warrant the risk and hassle of a move? And what about upsetting momentum? Matt’s motivations, even back in 2018, mimic many of the advisors we speak with today—most importantly, a focus on the long-term. In this episode, Matt looks back at his transition and shares an insider perspective on “what he wishes he knew before breaking away”: Why he believed he had “open architecture” access to everything he needed to serve his UHNW clients in the wirehouse world. What he can do now for clients and the business that he could not do as an employee of a wirehouse. How, even though it wasn’t a primary driver for his move, he is now able to grow faster AND live a better business life. Today, Matt’s firm has more than doubled in assets under management—and he attributes that to gaining the ability to think and act strategically. Listen in as Matt revisits that breakaway decision with Mindy Diamond: The perspective of hindsight—and what he might have done differently. The journey of building an independent business—and how he achieved such extraordinary growth. Their value proposition—and why it’s evolved over time. The partners they chose—and how they continue to benefit from them today. His long-term focus—and how it is empowering him and his team. Listen in as Matt shares a point of view relevant to any advisor who has taken the time to consider their goals and is striving to live their best business life. Want to learn more about where, why, and how advisors like you are moving? Email mdiamond@diamond-consultants.com or feel free to give us a call at 908-879-1002. Related Resources A View from the Top: An Interview with Breakaway Broker Matt Celenza 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. What We Can Learn When Top Advisors Leave Their Firms If changing firms made sense to these $1B+ financial advisors, what lessons can be learned by those who manage less but aspire for more? The Independent Alpha: Making the Breakaway Math Add Up Advisors breaking away for independence know what they are giving up, so how can they justify making this leap? The answer starts and ends with growth. Matthew Celenza Founder and Managing Partner As Founder and Managing Partner of Boulevard Family Wealth, Matt brings over 20 years of experience servicing the ultra-high net worth marketplace. Matt’s focus is marshaling all of the integral resources and providing the highest level of service needed to properly structure a multi-family office platform. Matt began his career at Morgan Stanley before moving to Smith Barney Citigroup where he was one of the original members of the Citi Family Office. After 12 years there he moved to the Merrill Lynch Private Bank and Investment Group. Matt made the decision to take our business independent in order to truly offer best-in-class opportunities and service to our clients. Matt is very active in the local community, serving as chairman of the board for A Better LA, and working hard with other organizations to bring equality to the inner city of Los Angeles. When out of the office, he enjoys traveling and spending quality time with his wife and their two sons. Matt graduated with honors from Niagara University’s business program. Licenses include: Series 7, 63, 65, Life and Health Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

A conversation with Mark Copeland, Founder, Signature Estate & Investment Advisors (SEIA) & Ben Prigal, Vice President of Reverence Capital Partners Overview Mark Copeland, Founder of Signature Estate & Investment Advisors (SEIA) and Ben Prigal, Vice President of Reverence Capital Partners, discuss the value of partnership between private equity and RIAs. SEIA built a $19B practice organically and got it “right” before considering acquisitions and inorganic growth. Plus, this top private equity executive discusses practice valuation, what sets apart the most valuable firms, and why private equity loves investing in the wealth management space. It’s an episode that demonstrates yet another way that advisors can unlock the value of the businesses they built. Whether you’re currently a wirehouse advisor, an RIA owner, or anything in between, you’ll learn first-hand the value of a strong capital backer and strategic partner. 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 should an advisor who is not actively considering a sale or capital partner care about private equity in the RIA space? Because, like it or not, private equity is here to stay. It’s not merely some trend or fad: it represents a paradigm shift in the industry that will shape the growth (and consolidation) of wealth management firms for years to come. Unsurprisingly, the independent space has become a treasure trove for private equity firms—and for several good reasons. RIAs and private equity firms share a common goal: A focus on growth. RIAs are a great investment: They have high profit margins, consistent cash flow, and low capital needs. And ideally, private equity firms and the RIAs they invest in tend to work in partnership: A real value-add for the RIAs, which can benefit from the expanded business knowledge these firms bring to the table. In the case of Signature Estate & Investment Advisors (or SEIA), the $19B RIA firm headquartered in Los Angeles and with offices across the country, their growth was attributed almost solely to organic means ever since their founding in 1997. Yet their vision was to expand via inorganic growth and attract other like-minded advisors to become a part of their extraordinary firm. That’s where private equity firm Reverence Capital Partners came in. Focused on investing in the financial services space, they see their relationships as strategic partnerships designed to foster growth. While some independent firm owners still bristle at the thought of selling a piece of their business, Mark Copeland, founding partner of SEIA, sees it much differently, as he discusses in this episode. In Reverence Capital, he saw a partner with a shared vision and the capital that would allow them to focus on achieving their vision for SEIA. Likewise, Ben Prigal, Vice President at PE firm Reverence Capital, offers a similar perspective. In SEIA, they saw a partner with an outstanding business, a strong management team, and substantial growth opportunities. Together, they share both sides of the capital partnership story on this special episode with Louis Diamond, including: SEIA’s vision—and they identified Reverence as the right partner to achieve their goals. Growth and succession strategies—and how a private equity firm’s investment can benefit an RIA. Looking beyond capital—and how a private equity firm can provide additional value to the independent firm. Identifying the right partners—and how both an RIA and private equity firm view a good fit. The episode provides two interesting perspectives on achieving growth and offers valuable advice on deciding when or if selling a portion of the business is the right path to take. Want to learn more about where, why, and how advisors like you are moving? Email mdiamond@diamond-consultants.com or feel free to give us a call at 908-879-1002. Related Resources The Next Big Thing: Private Equity Disrupting the Landscape for the Best Teams Private equity firms are showing an enhanced interest in wirehouse breakaways, investing directly in these teams on day one. Learn what’s driving this new trend, which teams are most appealing, how it will impact movement, and more. Listen-> Valuation Expert FP Transitions: On M&A, Growth, and Maximizing Enterprise Value CEO Brad Bueermann discusses key aspects of M&A and succession, the most important factors around multiples, valuations, and maximizing enterprise value, the future of M&A, and much more. Listen-> Are You Selling Yourself Short by Selling Equity? So you’re considering independence and the potential of taking on a capital partner. Is that the right move—or is there a better way to financially de-risk the leap? Here are 5 things to consider. Read-> What’s the ‘Real’ Value of a Financial Advisor’s Business? A still red-hot RIA M&A market has many employee advisors pondering what their business could be worth on the open market. Here are 3 valuation scenarios to address that curiosity. Read-> M&A Readiness Assessment A self-appraisal to help you identify gaps and opportunities, and create a path to the next chapter of your business. Download-> Ben Prigal Vice President Ben Prigal is an investment professional at Reverence Capital Partners, an investment firm focused on the financial services industry. Reverence Capital Partners has invested over $8.0 billion across its funds, co-investment vehicles and investment partners. Over the course of his career, Mr. Prigal has been an active advisor and investor in wealth and asset management and is currently on the Board of Signature Estate & Investment Advisors (SEIA). Prior to Reverence, Mr. Prigal worked at Broadhaven Capital Partners as a Vice President, focusing primarily on the asset and wealth management and financial technology sectors.  Prior to that, Mr. Prigal worked in the investment banking division at Wells Fargo Securities.  He currently resides in Miami, Florida with his wife and two daughters. Mr. Prigal earned a BS in Finance and BA in Economics from The Pennsylvania State University.   Mark Copeland Founding Partner Mark E. Copeland, CFP®, AIF®, is a Founding Partner in Signature Estate & Investment Advisors. He is one of SEIA’s four founding partners who have shared over two decades of teamwork together. Mr. Copeland’s emphasis is Investment Planning and Wealth Management with affluent individuals, athletes, and corporations. Currently, he is a licensed independent insurance broker and Partner with Signature Comprehensive Insurance Services, LLC (SCIS). Since 1988, Mr. Copeland has been in the securities and insurance business. His current memberships include the International Board of Certified Financial Planners and the National Association of Insurance & Financial Advisors. He currently resides in Orange County, California with his wife and four children. Mr. Copeland received his Bachelor of Science degree in Political Science from the University of California, Los Angeles. He is a CERTIFIED FINANCIAL PLANNER™ practitioner with the Certified Financial Planner Board of Standards, Inc., having completed the CFP® professional education program through the College of Financial Planning in 1993. He is also a licensed insurance agent (CA Insurance Lic. #0750414). Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

A conversation with Ghislain Gouraige, Partner, NewEdge Wealth Overview Ghislain Gouraige, a 15-year UBS veteran and former esteemed leader of the firm’s Private Wealth Advisory Council, kept his head down and built an extraordinary $3B business. Then, he started to see the potential outside of UBS, sharing, “You can’t unsee what you’ve seen.” That turning point led the self-proclaimed “UBS culture carrier” down a new path—one that he says he only wishes he had found earlier. Ghislain explores what he learned along that journey and offers salient tips on building an extraordinary business—both as an employee advisor and an independent.  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 would a 15-year UBS veteran leave after building a $3B practice? Particularly someone who was a self-proclaimed “culture carrier”—an esteemed UBS Private Wealth Advisory Council leader with a line to the top of the house and who viewed the firm as the definitively best place for his business. At that time, Ghislain Gouraige said he was the guy who “just wasn’t listening” beyond the four walls of UBS—and he couldn’t even imagine that there might be something better. (No doubt, in building a $3B business at the firm, there didn’t seem to be much of a reason to do so.) Then, friend and ex-UBS PWM colleague Rob Sechan left to build NewEdge Wealth in 2020, an RIA designed to allow other breakaway advisors serving high net worth and ultra-high net worth clients to join NewEdge’s elite platform. Then Ghislain stopped and listened—and a new world of potential opened up around him. And what once seemed “good enough” somehow didn’t quite feel that way anymore. That is, there might be better ways for him and his team to serve their clients and grow the business by removing limitations on marketing to business owners and expanding the universe of alternative investments (especially with smaller, top-tier, diverse managers). So, in January of 2022, the 11-person Coral Gables, FL team left UBS for NewEdge Wealth. Ghislain’s sentiments mimic that of many other advisors. For many years, he kept his head down and built an extraordinary business. Then, he started to see the potential outside of his firm. And as he shared, “You can’t unsee what you’ve seen.” That turning point led him down a new path—one that he says he only wishes he had found earlier. In this episode, Ghislain speaks candidly with Mindy Diamond, including… His turning point—and how one’s perspective can be restricted until you open yourself up to learning about what’s happening around you. The highlights of his career—and how he built an extraordinary business at UBS. The choice to transition to NewEdge—and why that decision won over building his own RIA or even taking an outsized transition deal from another large firm. His business life nearly two years later— and how the change has impacted his clients, growth, and future. Plus, Ghislain shares actionable advice for those considering their own future and much more. Listen in to learn how to allow education to open your mind, along with salient tips on building an extraordinary business—both as an employee advisor and an independent. Want to learn more about where, why, and how advisors like you are moving? Email mdiamond@diamond-consultants.com or feel free to give us a call at 908-879-1002. Related Resources Why a $5B UBS Breakaway Team Set Out to Build the “Boutique Firm of the Future” Ex-UBS $5B advisors, Rob Sechan and Jeff Kobernick found that servicing their UHNW clients became difficult at the wirehouse and wanted more than other firms offered. So they built RIA NewEdge Wealth with EdgeCo Holdings and other UBS veterans. Listen-> The Mysteries of UBS: Deciphering What Drives its Wins and Losses UBS advisors describe a culture defined by wins and losses—and they are asking tough questions about what the future holds. Read-> Everything You Need to Know About Independence: An Industry Update Jason Diamond joins the show for a quick yet thorough education on the continually evolving independent space answering the questions that many of our advisor-clients ask us during due diligence. Listen-> 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. Our “Landscape at a Glance” focuses on independence, providing the key features of each model. Download-> Ghislain Gouraige, CEPA® PARTNER Host of NewEdge Wealth’s ONWARD series. For nearly three decades, Ghislain has worked with ultra high net worth families and entrepreneurs to help them meet their investment needs, philanthropic goals and lifestyle objectives. With thorough and strategic planning, Ghislain specializes in assisting entrepreneurs and their families navigate issues they face through business transitions. Prior to joining NewEdge Wealth, Ghislain was a Managing Director at UBS. Throughout his career, he has also held positions at Bank of America’s Private Bank, Lehman Brothers, Merrill Lynch and Citibank. Ghislain began his career as an associate attorney in the corporate and securities department of the law firm Steel Hector and Davis. He received an Honors B.A. in Political Science from the University of Pennsylvania and a J.D. from Harvard Law School. Ghislain has been recognized as an industry leader by several major organizations such as Forbes, Financial Times and Barron’s for the past five years. He is also a Certified Exit Planning Advisor® (CEPA®), which provides a unique, value additive offering to our entrepreneurial client base. Ghislain is an active member in the community and currently serves on the Board of Directors of the Ayiti Community Trust, the James Brister Society of the University of Pennsylvania, COOP Careers, and REX Homes. He also serves on the Board of Advisors of the University of Pennsylvania Museum. He has previously been a board member of Ransom Everglades School, Nicklaus Children’s Hospital, and the University of Pennsylvania Library Board of Overseers, among others. Ghislain lives in Coral Gables, FL with his wife and their two Great Danes. In his spare time, he enjoys spending time with his family, including his four grown children. Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…

Richard Lofgren, Managing Director at Goldman Sachs Advisor Solutions, shares insights on building their custody offering. He discusses his journey from the Navy to finance, highlighting his experiences at Schwab and Goldman. Lofgren elaborates on Goldman's unique approach, emphasizing digital efficiency and support for growth-focused financial advisors. He addresses why Goldman entered the RIA custody market, contrasting it with traditional providers, while also touching on technology adoption challenges and the future for independent advisors in a consolidating industry.

A conversation with Louis Diamond Overview Mindy Diamond and Louis Diamond share ideas from 25 years of experience to help advisors navigate the daunting process of transition and advice on how to better cope with what can feel like a tumultuous ride. 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’s certainly much to celebrate when advisors find their best business lives—yet the ride there can be an emotional roller coaster. There’s the mind-boggling process around due diligence. The excitement for something new. The worry if you’re making the right decision. The anticipation and anxiety that comes with change. And the finish line—where all the emotions settle down, leaving you with that feeling of accomplishment. As consultants to the industry’s top financial advisors from early on in their educational stage, through exploration, and on to transition, we often wear many hats. We have the shared role of part negotiator, part confidant, part business coach, and even part therapist—supporting advisors throughout the decision-making process while hearing their concerns and helping to assuage their anxieties. In short, we’ve seen it all. In this episode, Mindy Diamond and Louis Diamond share some ideas culled from over 25 years of experience to help you navigate what can be a daunting process and better cope with what can feel like a tumultuous ride, including: The key phases of the due diligence process—and how understanding and preparing for each will keep everyone focused. Strategies and best practices to adopt—and how these can help keep your emotions in check. The power of clarity and conviction—and how each drive both a positive process and outcome. Anecdotes from advisor transitions we’ve facilitated—and what takeaways are most resounding. Communicating and setting expectations—and how doing so for all involved, including the team, clients, and even family members will help to alleviate unexpected surprises. Even if you have no intent of making a move, it’s an episode that will help you better understand the due diligence and transition processes—and how to make them more efficient and less stressful. Download The Strategic Due Diligence Roadmap It’s essential to understand the process involved in conducting thoughtful and effective due diligence. And having a solid support system and path is imperative to success. So we created this visual guide to help financial advisors embark upon an efficient process—one that is more likely to result in discovering Your Best Business Life™. Consider this interactive, visual framework as a way to achieve your goals, whatever they may be. Related Resources Avoiding the Post-Transition Blues 8 tips to help advisors enjoy a less stressful experience during and after a move. Read-> 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. Listen-> Also available on your favorite podcast app and other media sites                                             Browse other episodes in this podcast series…