In this podcast episode, special guests Bill Loftus of Coastal Bridge Advisors and Mark DuPont of Focus Financial Partners provide an “outside-in” look at how a capital partner helped this team make the leap to independence in 2008, and share the story behind the amazing success of this RIA.
Shirl Penney, President and CEO of Dynasty Financial Partners, joins Mindy in this episode to share insights from his own unique entrepreneurial mindset and vast industry knowledge and experience as the founder of Dynasty. They discuss the momentum towards independence and what it takes to get from here to there. [podcast]
Throughout this series, Mindy has focused mostly on what it means to be independent and how to get from here to there. In this episode, she takes a step back to look at the thought process behind a move from a very different vantage point and offers a 10-point exercise for advisors.
As more and more advisors consider a move to the independent space, they often express concern about the heavy-lifting such a move might require. In this podcast episode, Mindy is joined by Tim Oden, Senior Managing Director for Business Development at Schwab Advisor Services. With his 30-years of industry experience, he offers a great perspective on the ever-increasing movement towards independence.
No doubt that the breakaway movement shows no sign of abatement and, in fact, almost every day we learn of yet another advisor who has chosen to leave their traditional brokerage firm for the greater freedom and flexibility of independence. And while any advisor who chooses to leave the mother ship is courageous in giving up the comfort and turnkey support of a major firm, it is especially brave when an advisor from a non-Protocol firm chooses to make the leap.
After years of strong growth, many successful independent businesses find themselves at a plateau. Inorganic growth – via mergers and acquisitions (M&A) or recruiting – offers these firms a way to expand into new markets, improve buying power, gain scale and capture operating leverage. M&A can also increase the metrics on which the valuation of the business is based, and help solve for succession.
Independence may sound "isolating" to many financial advisors exploring the space. In this episode, Mindy dispels that myth, exploring how independent advisors can find support, synergy and a community to share ideas. [podcast]
Perspective breakaways and independent business owners alike often ask us about the long-term, bigger picture potential for their firm. In this episode, Nathan Bachrach of Simply Money Advisors joins Mindy to discuss the answers so many independent business owners ponder. [podcast]
It’s no small task to build an RIA firm. There are some breakaway advisors willing to do the heavy lifting on their own, others do not have the capacity, time nor desire. In this podcast episode, Matt Sonnen of PFI Advisors gives a realistic view of resources and requirements, plus compares and contrasts the different paths you can take. [podcast]
Before independence was in vogue, Dorie Fain left the comfort and familiarity of a big-name firm – plus significant chips on the table – to build her own RIA. And she did it without leveraging a service provider. Here’s what she learned… [podcast]
Employee advisors are often limited to organic growth alone. For those who want to meaningfully accelerate their growth and use multiple initiatives to do so, organic growth alone can feel limited. It’s these advisors often feel the greatest pull towards independence. In this podcast episode, Mindy will drill down on the specific things that really contribute to the turbo-charged growth of an independent firm.
Many advisors who explore full-on independence find that it’s just too much of a leap. For those folks, the quasi-independent space may be just the ticket. Learn more about quasi-independence in this podcast episode of Mindy Diamond on Independence.
How do the economics of going independent compare to the value of taking a recruiting deal from a major firm? In this podcast episode, Mindy Diamond will help answer that question by walking through a real-world example of a traditional recruiting deal offered to a wirehouse advisor and what that same advisor could expect by going independent.
How do advisors who move to independence overcome their concerns about making the leap? In this episode, Mindy interviews an advisor who left the safety of a traditional firm in 2009 for the greater freedom and flexibility offered by the Independent Broker Dealer model. Learn how he overcame the perceived obstacles of a move to independence, and what his biggest regret is now.
While the freedom and flexibility of the independent space is attractive to many, it’s the long-term economic potential that’s the real draw for entrepreneurial-minded financial advisors. Special guest and industry expert Louis Diamond shares the top ways independent advisors monetize in the long-term.
How will the ability to go independent be impacted by an advisor's non-Protocol status? Sharron Ash, Chief Litigation Counsel at Hamburger Law Firm, joins Mindy Diamond on this special podcast episode that explores the answer to that question and many more surrounding the recent withdrawals from the Protocol and advisor movement.
While most financial advisors dream about the freedom, flexibility and control of independence, many don’t make the move because of the perceived downside in the short-term economics. In this podcast, Mindy shares how there are now plenty of ways to monetize in the short-term.
As one of the relatively new models in the wealth management landscape, independence for financial advisors often subject to headlines and hearsay. In this podcast episode, Mindy addresses some of the popular preconceived notions about independence, setting the record straight on common myths she hears from advisors.