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.

> 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.

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:

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.

Diamond Consultants Merrill Advisor Transition Report

The Advisor Transition Playbook: Inside Baseball on Due Diligence, the Move, and Everything In Between

Mindset Shift: Why Advisors are Forgoing a Recruiting Deal and Leaping Right to Independence

Alex Markowitz

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.