The Diamond Podcast for Financial Advisors

Overview

Justin Berman demonstrates an important concept: Change is constant. After a novel leap from Goldman Sachs to independence in 2010 and building the business from $1B to $5B in 10 years, he decided he needed to make a change to provide an even greater impact on his clients and business in the future. So he merged with Cresset Asset Management and in just 3 years, increased revenue from $17mm to $27mm.

> 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.

It was May of 2020 when Justin Berman first shared his breakaway story on this series.

In “Life After Goldman Sachs,” Justin shared his perspective on leaving the prestigious brand to launch an independent firm. He discusses why, after 7 years at Goldman, he felt limited by changes at the firm in his ability to serve his high-net-worth clients’ needs and continue to grow the business into the future.

So, Justin launched Atlanta-based RIA Berman Capital Advisors, a firm that grew from managing a billion in client assets to $5B over the course of 10 years.

Then in September of 2021, it was announced that Justin’s firm would merge with Cresset Asset Management.

The big question is why would a successful independent firm decide to align with a multi-family office and investment firm like Cresset?

As Justin put it, he once again considered the future, his clients’ needs, and his firm’s ability to serve those needs and grow the business going forward.

And it’s proving to be a good decision: In just 3 years, his revenue increased from $17mm to $27mm.

He revisits his journey with Mindy Diamond, filling in the gaps since his last visit, and offering a unique perspective on the evolution of an advisory business, including:

Justin’s story is important because it shares how, instead of being feared, change should be embraced as a pathway to growth. Listen in to learn valuable insights that can help inspire your own evolution.

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

Finding the Shortest Path to Excellence Can Be a Game Changer for Advisors

Life After Goldman Sachs: A Story of Extraordinary Success

Private Bankers Find Greater Independence: Former $2B J.P. Morgan Team on Their New Chapter with Cresset

Justin Berman

Justin Berman is Co-Chairman at Cresset, and Founder of Berman Capital Advisors. In his role, Justin works with multi-generational entrepreneurial families while setting the strategic vision for the firm.

Justin founded Berman Capital Advisors in 2010 as part of his commitment to provide truly objective family office services, wealth management, and investment consulting services to a select group of high-net-worth families. Prior to this, Justin worked in the Private Wealth Management division of Goldman Sachs & Co., where he was a member of the firm’s Leadership Council. He has also served in the Investment Advisory Group at myCFO, Inc., and in the Private Client Group at Arthur Andersen & Co.

Justin graduated summa cum laude from Georgetown University, where he served as Varsity Tennis Captain and was a Rhodes Scholar finalist. He also earned an MBA from The Wharton School, University of Pennsylvania, where he was named a Palmer Scholar.

Justin is active in the community and is on the board of trustees of The McDonough School of Business at Georgetown University, Leadership Atlanta, and Grady Health Foundation. He also chairs the board of My Journey Matters, a program designed to help reduce recidivism in young offenders in Atlanta. Justin is also involved in the Young Presidents’ Organization. Justin and his wife, Mara, reside in Atlanta and have three children.

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Overview

Three Merrill breakaways offer unique perspectives on the process of considering change, life outside the wirehouse, and filling the gaps that one might experience when leaving a big brand name behind to become an independent business owner.

> 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.

Advisors who are considering the leap to independence often share their concerns about leaving behind the culture, community, and support they’ve grown accustomed to in the wirehouse world.

And that’s perfectly valid.

While many advisors are vocal about the lack of freedom and control at the big firms, there are still a lot of positives—like having a well-known brand with a seemingly endless budget behind you and the ability to create a strong foundation for success.

On the other side, there are those who’ve made the break to independence and share that life outside the walls of the wirehouses is pretty amazing.

For this special episode, we invited three such breakaway advisors who developed extraordinary independent businesses to discuss how they did it. That is, to offer their trade secrets to creating businesses that merged the best of the wirehouse they grew up in with the freedom and control they were searching for.

Former Merrill Advisors Michael Henley, the Founder and CEO of the $1.6B Brandywine Oak Private Wealth, Matt Liebman, CEO of $1.5B Amplius Wealth Advisors, and Jerry Davidse, CEO of $500mm Presilium Private Wealth join Louis Diamond to share their journey, including:

It’s an episode that shares different points of view with a common goal: To do what’s best for their clients and business lives. Available on audio and video—so be sure to listen in or watch.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

A Diehard Merrill Advisor’s Journey to Independence

$1B+ Multi-Generational Merrill Breakaway Team Leaves Behind the Big Brand to Gain “More” for Clients

Outgrowing the Employee Model: How an ex-Merrill Advisor Found Autonomy & Abundance in Independence

Michael Henley CFP® | CPWA® | CRPC® | RMA®

Michael Henley is the Founder and CEO of Brandywine Oak Private Wealth, a private wealth management and registered independent advisory firm headquartered in Kennett Square, PA. Over the course of his 20-year career, Michael has been dedicated to helping wealthy individuals and families plan and manage all aspects of their finances and investments. With a passion for helping others look behind the curtain and understand the complex world of finance, he develops close relationships with clients as he helps them progress toward their financial goals. Michael loves to provide clarity and alleviate financial anxiety, help prevent families from overpaying in taxes, and give wealthy families permission to enjoy their life savings. He says, “No work is more gratifying than giving families outcomes to what matters most to them.”

Michael holds the CERTIFIED FINANCIAL PLANNER™, Certified Private Wealth Advisor®, Chartered Retirement Planning Counselor℠, and Retirement Management Advisor® designations. Residing in Chadds Ford, PA, with his two children, he enjoys outdoor activities, particularly maintaining trails on his property, hiking with his dogs, and being an actively engaged dad, always taking his kids everywhere. Michael’s latest hobby is tennis, he is obsessed with hot yoga, and he recently started ice skating to join his daughter Savannah. He can also be found moving logs to the firepit with his son Maverick on the tractor. Michael serves on the board of United Way of Southern Chester County and loves mentoring younger advisors. Great mentors helped him succeed, and he’s convinced that every leader needs to both have mentors and be a mentor.

Matthew D. Liebman, CFA®, CRPC®, CAIA®

As Founding Partner and CEO, Matt drives the principal mission and core promise of Amplius Wealth Advisors: to put clients at the center of everything Amplius Wealth Advisors does.

Prior to founding Amplius Wealth Advisors, Matt returned home to the Philadelphia area in 2008, where he co-led The Liebman Marks Group at Merrill Lynch for 13 years, consistently receiving firm recognition as a top advisor. Before Merrill Lynch, Matt worked in the investment management industry in New York City in a variety of roles – as a research analyst, portfolio manager, and hedge fund manager. Combined with his education and background in asset allocation theory and behavioral finance, Matt has considerable experience with high-net-worth families and provides a unique approach to guiding clients towards their financial goals.

Matt is a CFA® Charterholder, Chartered Retirement Planning Counselor (CRPC®), and Chartered Alternative Investment Analyst (CAIA®). He was recognized as one of the Top Advisors in Pennsylvania by Forbes as a “Best-in-State Wealth Advisors” ranking in 2020, 2021, and 2023.

Matt earned a BBA from Emory University’s Goizueta School of Business as a dual major in business and political science with concentrations in finance and new venture consulting.

Matt is a Member of the New York Society of Security Analysts, Philadelphia Society of Security Analysts, CFA Institute, and the CAIA Institute. He serves on the boards of the Anti-Defamation League and KleinLife and is an active volunteer in the Philadelphia community.

Matt lives in Haverford, PA, with his wife Allison and two children, Noah & Lucy. He is an avid NBA fan, tennis player, and volunteer basketball coach for his children’s youth teams. Matt is an avid follower of domestic and global politics and enjoys reading business, sports, and political non-fiction books.

Jerry Davidse, CFP®

Jerry Davidse, CFP® has worked closely with leading families across the U.S. as a wealth manager since 2001, advising them on wealth planning, custom investment portfolios and risk management strategies. He believes in clear communication with clients and provides simple recommendations for complex financial decisions. Jerry earned two degrees from the business school at Villanova University in 2001.

Jerry was awarded the CERTIFIED FINANCIAL PLANNER™ certification in 2005 by the Certified Financial Planner Board of Standards, Inc. He was previously a Vice President at Morgan Stanley and Senior Vice President at Merrill Lynch before founding Presilium Private Wealth in 2022. He was recognized by Forbes in 2023 as one of the top wealth advisors in Pennsylvania.

Jerry enjoys traveling, golf, coaching youth sports and has run four marathons. He and his wife live in Radnor, Pennsylvania, with their son, Jake, and daughter, Emma.

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Overview

Jason Diamond turns the tables on Mindy who offers a first-hand glimpse into her book, Should I Stay or Should I Go?, created specifically for financial advisors who are looking to optimize their businesses or thinking through the biggest decision of their lives.

> 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.

This multi-faceted episode offers perspective on what advisors can glean from this invaluable resource, why Mindy wrote the book, and what she learned along the way.

In seeing a significant gap in information available for financial advisors looking to optimize their businesses, Mindy took on the task of developing a one-of-a-kind book entitled Should I Stay or Should I Go?

Mindy’s journey started 30 years ago and culminated in this expansive project: A roadmap designed to help top advisors think critically and objectively about their firms.

Drawn from three decades of counseling financial advisors on the choices that impact their business lives, the book offers a self-guided process based on what Diamond Consultants practices with our own advisor-clients.

Along with Jason Diamond, Mindy answers questions like:

Mindy also shares examples and excerpts from the book, along with the type of guidance one could expect to find in it. So be sure to listen in for the inside story.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Should I Stay or Should I Go?

Why Settle for “Good Enough” When Great is Possible?

Financial Advisors: What’s The Risk Of Staying Put?

The 7 Unintended Consequences of Staying the Course

Top Tips for Setting Your Business Up for Success Years Before a Move

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Overview

Gordon “Gordy” Abel from Dynasty Financial Partners offers perspectives on why marketing matters, how to create and leverage a brand, the key aspects of an effective value proposition, and more for employees of an established firm or someone just launching a new independent entity.

> 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.

Marketing is the secret sauce behind many successful wealth management firms.

It starts with developing a unique brand—from creating the firm’s name and distinct design to leveraging that brand through various mediums.

Then there’s messaging – a relatable value proposition and supporting content – broadcasted into the marketplace. It’s how one wealth management firm stands out from a crowded sea of others—and the advent of social media has made it a ubiquitous and essential part of a business’s growth.

But how does it work? If you’re launching a new firm, where do you start? And if you work within an existing brand, how do you enhance the marketing efforts?

To answer these questions and more, we called on Gordon “Gordy” Abel, the seasoned marketing pro who serves as the Chief Marketing Officer for Dynasty Financial Partners, one of the wealth management industry’s top independent platforms for advisors and teams who are looking to build the independent business of their dreams.

Gordy joins Jason Diamond to share his unique vantage point as both Dynasty’s CMO and the “outsourced” CMO for the independent RIAs on their network.

He and Jason discuss all things marketing specifically as it relates to wealth management businesses, including:

Plus, Gordy and Jason discuss the future of marketing, the impact of AI, and much more! It’s an episode that demonstrates why marketing, when done right, is an investment that can pay off in droves.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Innovative Ways the Best Independent Firms Fuel Growth: A Special Industry Update

Driving Organic Growth: Practical Marketing Tips for Advisors from FiComm’s Megan Carpenter

Top Tips for Setting Your Business Up for Success Years Before a Move

Gordy Abel

Mr. Abel joined Dynasty Financial Partners in May 2016 and serves as Managing Director, Chief Marketing Officer. He is responsible for helping grow the business through raising the firm’s brand profile as he leads the marketing efforts for Corporate Marketing, Network Advisor Marketing and Dynasty Community educational events and experiences. In his role not only as CMO but also as a member of Dynasty’s leadership team, Abel plays a critical role in partnering throughout the organization to drive growth across the core business, investments platform, the Dynasty Investment Bank and Dynasty Connect all while helping Dynasty Network advisory firms build their businesses through an innovative, technology-driven marketing approach to organic and inorganic growth.

Mr. Abel has driven the creation and launch of over 40 new brands for the independent wealth advisory firms in the Dynasty Network. He takes immense pride in guiding these firms to create their new brand identity, mission, vision, positioning, and values in order to successfully launch their independent firm, better build their businesses over time and ultimately better serve their clients through their partnership with Dynasty.

Prior to joining Dynasty, Abel has held executive and marketing roles at Google, JPMorgan Chase and BlackRock/iShares.

In 2020, Abel was named an honoree for the Tampa Bay Business Journal Pride award for his inclusion, support, and advocacy of the LGBTQIA+ community. Over his career he has served two board terms for the Financial Communications Society and has been active with the ANA, Ad Council and IAB.

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Overview

The “affiliation channel slide” has become a common path for many employee advisors seeking independence. Jason Andrews and Ross Bauer of Merritt Point Wealth Advisors share a story demonstrating how their transition from Wells Fargo PCG to FiNet resulted in tremendous growth opportunities.

> 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.

Almost every advisor we host on this series shares the desire for greater independence.

The good news is that there are plenty of options available in the ever-evolving industry landscape for advisors to find just what they’re looking for—including firms with multi-channel affiliations.

These give employee advisors an opportunity to slide to an independent model and become true business owners with far less hassle than they might have dealt with had they gone to another platform provider or built an independent business themselves.

Wells Fargo Advisors Financial Network or FiNet as it’s commonly known, the independent broker dealer arm of Wells Fargo Advisors, is a popular home for advisors looking to go independent without the heavy lift of setting up their own firm from scratch.

And that’s especially true for Wells advisors, particularly this episode’s guests, Jason Andrews and Ross Bauer.

As employee advisors at Wells Fargo’s Private Client Group or PCG, they built the business to $280mm in assets under management and decided that it was time to build their own firm based on their vision.

After conducting due diligence, the notion of a transition to independence without actually “leaving” Wells was of tremendous appeal to them. So in 2019 they made the leap and launched Merritt Point Wealth Advisors with FiNet.

And today, just five years later, they are managing nearly $1.7B in assets.

Jason and Ross share their story with Louis Diamond, including:

It’s an incredible story that shows how vision, planning, and determination can create extraordinary results, so be sure to listen in.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Top Tips for Setting Your Business Up for Success Years Before a Move

Wells Fargo’s Barry Sommers on Transforming the Wealth Management Experience

Sustainable and Scalable Growth: A Leading Coach’s Advice on How to Achieve it

Ross Bauer

In his role as COO, Ross is responsible for overseeing client, advisor and employee success. Ross’s focus is on initiatives that are advisor-led and client centric, offering a high level of flexibility, service, and technology.

Passionate about business, economics and educating others, Ross began his career at Merrill Lynch in the Global Wealth Management Division. Ross then moved on to work at a tax firm in London that serviced multinational individuals. In 2014, Ross joined Wells Fargo Advisors where he focused on developing and implementing custom-tailored investment strategies for the firm’s wealth management clients. In 2019 Ross co-founded Merritt Point Wealth Advisors where he served as Managing Partner before taking on his current role of COO. Ross has been a guest lecturer at NYU Stern School of Business, where he educated MBA students on investment strategies and risk management.

Jason Andrews, CRPC®

Jason is Founder and CEO of Merritt Point Wealth Advisors. He is a Chartered Retirement Planning Counselor and a Senior Fundamental Choice Portfolio Manager.

Today, Jason also focuses on empowering other advisors to help them build, grow, and own their own practices by achieving independence through Merritt Point Wealth Advisors.

Prior to founding Merritt Point Wealth Advisors, Jason co-founded Cutler and Andrews Financial Group, which began at UBS in 2003 and moved to Wells Fargo Advisors in 2008. Jason was Senior Vice President – Investments at Wells Fargo Advisors, where he spent ten years and Vice President – Investment at UBS Financial Services, where he developed a proprietary Self-employed 401(k) platform to service Local Real Estate firms.

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Overview

Industry coach John Bowen demonstrates how building and fostering the development of your “Dream Team” can be the game changer your business is waiting for. It’s an episode that serves as a free coaching session with actionable advice for employee advisors and business owners alike.

> 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.

Many wealth management firms have left a level of potential untapped: mastering the power of teamwork.

It’s the accomplishments of that team, running on all cylinders and driving toward a unified vision, that propels phenomenal success. But getting to that level isn’t always easy.

It takes building, supporting, and nurturing extraordinary talent. And developing a structure where teamwork and collaboration become a natural part of the work environment.

That’s why we invited one of the top coaches in the industry, John Bowen, to join us on the show.

His firm, CEG Worldwide, just completed a study of what it takes to build your “Dream Team.”

“The Dream Team Effect,” as John calls it, is one of the major factors that drives success in everything from growth to client retention to long-term success.

And the impact is tangible when you look closely at the foundation of team dynamics and tap into the power therein.

In this episode with Louis Diamond, John offers actionable advice on mastering the art of team dynamics, including:

Plus, John shares his proprietary Dream Team framework to get you started on your way—with key graphics, so be sure to check out the video, too. Consider it your free coaching session with one of the industry’s finest!

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Finding the Shortest Path to Excellence Can Be a Game Changer for Advisors

The Dream Team Effect; Mastering Team Dynamics to Achieve Wealth Management Excellence

Advisor Success Formula: Closing the Gap Between HNW Client Expectations and Advisor Services

John Bowen

John Bowen is the founder and CEO of CEG Worldwide, the world’s leading coaching firm for financial advisors. Since 2000, Bowen and his team have had the privilege of coaching elite financial advisors to build simple, elegant wealth management businesses that serve their affluent clients extremely well while building lives of significance for themselves, their teams and their loved ones.

Before founding CEG Worldwide, Bowen worked directly with affluent clients as a financial advisor for 26 years, managing up to $2 billion in assets before selling his firm. Following the sale of his firm, he became CEO of Assante Capital Management. Under his leadership, Assante more than tripled assets under management to more than $25 billion.

Bowen is widely recognized as a leader in the financial services industry. Over three decades, he has delivered hundreds of keynote presentations and workshops to thousands of top advisors around the world. For more than 20 years, he wrote a highly acclaimed monthly column for the leading U.S. financial services trade journal, Financial Planning. And he is the author or co-author of more than a dozen books, including Elite Wealth Planning: Lessons from the Super Rich, The Wealthy Client Pipeline: Leveraging Thought Leadership to Build Profitable Partnerships with Attorneys and Accountants and Breaking Through: Building a World-Class Wealth Management Business.

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Overview

Using the Diamond Consultants trademark data-driven analysis and insights on recruiting and deals, Louis and Jason Diamond share a “state of the recruiting industry” report for the first half of 2024, with perspectives on what to expect for the rest of the year. 

> 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.

It’s hard to believe that we’re past the mid-point of 2024 and are already gathering data for our next transition report.

It’s going to be another massive effort because this year is already proving to be incredibly active: Based on what we’re seeing, the pace of transitions is currently surpassing 2023.

Which is why we felt it was important to share a mid-year Industry Update on what we’re seeing in the way of deals and dive into some of the most noteworthy transitions to date.

Using our trademark data-driven analysis and insights on the state of recruiting and deals, Louis Diamond and Jason Diamond share:

Consider it a mid-year companion to our trademark Transition Reports, with a sneak peek into the data and insights contained in the forthcoming firm-focused reports for Merrill, UBS, and Edward Jones. So listen in to get the latest scoop.

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 2023 Advisor Transition Report

COMING SOON – Diamond Consultants Merrill Advisor Transition Report 2024

COMING SOON – Diamond Consultants UBS Advisor Transition Report 2024

COMING SOON – Diamond Consultants Edward Jones Advisor Transition Report 2024

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Overview

Matt Brown discusses the founding of CAIS and his vision to democratize alternatives (alts) investing and open up access to firms of all sizes. He shares how technology helped transform the independent space and provides an extraordinary growth engine for firms. Plus, he offers his thoughts in the inaugural Founder’s Blueprint segment.

> 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.

Many of the best and brightest ideas in wealth management over the last decade have stemmed from someone in the industry who saw a gap and filled it.

Such is the case with Matt Brown, who envisioned using technology to make alternative investments more accessible to the masses.

Once limited to institutional and ultra-sophisticated investors, these “unconventional” alternative investments, or alts, have become popular vehicles for many advisors looking to serve clients and expand their portfolios.

Matt first recognized the white space when it came to advisors’ access to alts while he was a financial advisor at Shearson Lehman Brothers and Smith Barney.

So he founded CAIS in 2009 with a vision of democratizing alts investing and opening up access to firms of all sizes. And that it did: Platforms like CAIS have leveled the playing field for independent firms by giving these advisors everything they need to compete with the biggest names in the business.

CAIS has realized extraordinary success, doubling in network assets from $3 trillion to $6 trillion in the last 12 months alone.

As Matt shares, the firm’s growth is indicative of a changing environment among investors moving beyond the traditional 60/40 portfolio to one that looks more like a 50/30/20 model based on stocks, bonds, and alts.

In this special episode with Louis Diamond, Matt offers a glimpse into how his vision became a model for success in the industry, including:

Also in this episode, we launch a new segment called Founder’s Blueprint. It’s an idea that was born out of listener comments for more backstories from some of the most successful entrepreneurs in the industry. Our goal is to share each founder’s unique “why” and “how” to help spark ideas and eliminate the fear that comes with the unknown.

We’re gathering each entrepreneur’s journey for a special digest episode at the end of the year. So be sure to listen in to get a quick download from Matt on what it took to get from A to B – and beyond.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

The Competition Conundrum: Charge Less or Offer More?

Finding the Shortest Path to Excellence Can Be a Game Changer for Advisors

The Inverse Grid: Is Your Firm Providing Enough Value?

Matt Brown

Matt Brown is the Founder, CEO, and Chairman of CAIS and has spent more than 30 years at the intersection of wealth management, alternative investments, and technology. In 2009, he founded the technology platform CAIS, the industry pioneer in democratizing alternative investments. Matt’s vision and leadership earned recognition in 2023, when he was named one of “The World’s Most Influential Decision Makers” by The Wall Street Journal.

Matt believes in the “American Dream” and ensuring that anyone with a dream, and the drive to achieve it, has an equal opportunity to make it happen. Matt joined Endeavor in 2001, the leading non-profit organization establishing entrepreneurial ecosystems in over 40 countries. Matt served on Endeavor’s Global Board of Directors and supported entrepreneurs in Latin America, Africa, Middle East, and United States.

Matt is on the Board of Trustees of the Museum of the City of New York and serves on the Executive Committee. Founded in 1923, the Museum reflects the essence of New York City, where people from all walks of life come together to create, innovate, and pursue their aspirations. Today, through immersive experiences, exhibitions, and programming, the Museum celebrates, documents and interprets the past, present and future of New York City.

Matt earned his Bachelor of Arts degree from Saint Mary’s College of California in 1991 and started his career at Shearson Lehman Brothers as a financial advisor. Matt is married to his wife of 22 years and the proud father of four.

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Overview

The first breakaway team to join Beacon Pointe Advisors offers a perspective on change at the wirehouses, the value of being a true fiduciary, the responsibility to a client and advisor’s business on serving an expanding list of client needs, taking a long-term look at the business, and much more.

> 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.

It’s hard to criticize the firm you work for when you’ve built a business managing $2B in client assets.

But a reality exists for many top advisors like the guests on this episode.

That is, they recognize how the industry and their clients’ needs are evolving—and that their firm may not be equipped to support them for the long term.

Russell Crow and William “Billy” Diehl invested nearly 3 decades each in the wirehouse world, most recently as Managing Directors at UBS.

They watched as the financial advice industry morphed from a transactional model to one in which advisors served a wide variety of client needs. That is, financial advisors were more embedded in the lives of their clients, with seats at the table for decisions well beyond the world of stocks and bonds.

They were now expected to be true fiduciaries, serving their clients not just as a financial advisor but instead as a financial concierge.

It was a concept that fit well into Russell and Billy’s vision for their business, but did not necessarily align with the firm’s vision.

Ultimately, they left the wirehouse world in October of 2023 to join Beacon Pointe Advisors as the first breakaway team to integrate with the firm.

In this episode, Russell and Billy share a compelling narrative with Mindy Diamond, including:

It’s an episode with relatable experiences and actionable advice for both wirehouse advisors and independent advisors alike.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

The Juggling Act: Balancing Short-Term Needs and Long-Term Goals

Investing in Growth: Exploring KKR’s Attraction to $25B+ RIA Beacon Pointe

The 5 Attributes That Make a Financial Advisor a “Real” Fiduciary

Russell Crow

Russell Crow is a Partner and Managing Director at Beacon Pointe Advisors and brings over 25 years of professional experience advising ultra-high-net-worth families, institutions, and business owners. Prior to joining Beacon Pointe in 2023, Russell served as Managing Director at UBS for 14 years after spending 7 years at Goldman Sachs and 4 years with Morgan Stanley in New York, Houston & Dallas. He received his BA from the University of Arkansas, his MBA from Arizona State University, and his MIM from Thunderbird, the American Graduate School of International Management.

William (Billy) Diehl

William (Billy) Diehl is a Partner and Managing Director at Beacon Pointe Advisors and brings over 25 years of professional experience advising ultrahigh-net-worth families, institutions, and business owners. Prior to joining Beacon Pointe in 2023, Billy served as Managing Director at UBS for 14 years after spending 7 years at Goldman Sachs and 4 years with Morgan Stanley in New York, Houston & Dallas. He holds the Certified Financial Analyst (CFA) designation and received his BA from Vanderbilt University and his MBA from the University of Texas at Austin.

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Overview

Succession and monetization are hot topics for advisors in every model. LPL Financial’s Liquidity and Succession program representatives discuss what advisors, independent business owners, and next gens need to consider as they grow their businesses and explore long-term and short-term options, plus best practices to prepare for a transition and maximize business value.

> 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.

Succession planning is one area in wealth management that seems to have trouble keeping up with the industry’s growth and evolution.

Research studies indicate that less than 30% of advisors have a succession plan. Many more who run thriving businesses have no strategy at the ready should a worst-case scenario leave them unable to attend to their clients’ needs or even continue their livelihood.

Likewise, many advisors are still looking at the equity they’ve accumulated in their firms and wondering how they can access it—whether to monetize their life’s work or reinvest in the business’ growth.

While advisors have a lot to evaluate, including many prospective external capital partners and investors, the good news is that there are firms that realize there are great partnership opportunities available internally with these thriving practices.

In this episode, LPL Financial’s Jeremy Holly, Executive Vice President of Strategic Business Development, and Jared Fingeret, Senior Vice President, join Louis Diamond to discuss this critical topic.

Jeremy and Jared represent LPL’s Liquidity and Succession program, which provides end-to-end solutions for advisors looking to increase business value and monetize the legacy they’ve built.

So in this episode, they share perspectives for both business founders and next gens on what they need to consider as they grow their businesses and explore both the long-term and the short-term, including:

It’s a conversation relevant to advisors and next gens in the wirehouses, independent firms, and everywhere in between.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

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Jeremy Holly

Jeremy Holly serves as Executive Vice President of LPL Capital Partners for LPL Financial. In this role, Holly and his team are responsible for the creation, development, execution and oversight of LPL’s suite of offerings designed to help financial advisors looking to grow through acquisition, access liquidity from their business, monetize their life’s work through a sale of their practice or protect the legacy they’ve built.

Serving as a key leader with LPL for more than two decades, Holly has held numerous roles across corporate development, advisor financial solutions, national sales, strategy and finance. After stepping away for two years to  serve as chief development and integration officer for SageView Advisory Group, where he was responsible for the firm’s acquisitions, recruiting, and synergy realization, Holly rejoined LPL Financial in 2023.

Holly is a graduate of the University of North Carolina at Chapel Hill with a Bachelor of Science in Business Administration. He lives in San Diego.

Jared Fingeret

Jared Fingeret serves as Senior Vice President of LPL Liquidity & Capital, which addresses advisors’ monetization and succession needs. In this role, he is responsible for crafting the strategy and execution of LPL’s proprietary M&A offerings to help financial advisors monetize their business through either a full or partial book sale, transition out of their business, or protect the legacy they’ve built.

With more than a decade of experience in the financial services industry, Fingeret joined LPL Financial in 2022 from HighTower where he served as Director of M&A. He also held previous roles with Focus Financial Partners and Deloitte.

Fingeret is a graduate of Rutgers University with a Bachelor of Science in Finance. He lives in Brooklyn, N.Y. with his wife, two children, and their cat, a Russian Blue, named Boris Ivanovich.

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