The Diamond Podcast for Financial Advisors
Launched in 2017 as Mindy Diamond on Independence, the show has taken on a broader perspective beyond the independent space to include topics, insights, and candid conversations around financial advisor transitions, growth, and an ever-changing industry landscape. Each episode is designed to offer objective guidance and actionable advice with some of the industry’s brightest movers and shakers.
Deep Research: How Smart Money Evaluates Wealth Management Firms
Steve Chubak, Managing Director at Wolfe Research
What can advisors learn from the way institutional investors evaluate wealth management firms? Wolfe Research’s Steve Chubak offers a different lens on growth, recruiting, AI, pricing, M&A, and what separates stronger firms from the rest.
In Summary
Financial advisors and institutional investors often evaluate the same wealth management firms—but from very different vantage points.
Advisors may be asking whether a firm offers the platform, technology, economics, and resources they need to serve clients and grow their businesses. Institutional investors are digging into...
The Trust Behind the Transition: UBS Breakaways on What It Takes to Move $1B in a Matter of Months
Michael Lee & Steve Armaly—Founders & Managing Partners, Ox Road Capital
After leaving UBS to launch Ox Road Capital, Michael Lee, Steve Armaly, and their partners crossed $1B in AUM in just 225 days. They share how years of client trust, partner alignment, and a client-first vision helped make an extraordinary transition possible.
In Summary
When Michael Lee, Steve Armaly, and their partners left UBS to launch Ox Road Capital, they walked out the door without client information or a single dollar in assets at their new firm.
Just 225 days later, Ox Road cr...
The Wirehouse Talent Battle: Winners, Losers and What’s Changing
A Special Industry Update with Louis Diamond and Jason Diamond
Wirehouse advisor movement accelerated sharply in the first half of 2026. Louis and Jason Diamond unpack the numbers, the forces driving them, and what they reveal about an increasingly competitive advisor marketplace.
In Summary
Wirehouse advisor movement reached a notable pace in the first half of 2026. Across Merrill, Morgan Stanley, UBS, and Wells Fargo, 1,449 experienced advisors left while 932 joined—a net decline of 517 advisors in just six months. Yet those aggregate numbers obscure four very different firm-level stories and a much broader shift in th...
The Modern Family Office: Cresset’s CEO & Head of AI on Building for the Future
With Susie Cranston, CEO, Cresset | Kelly Wagman, PhD, Director, Head of AI Strategy, Cresset
Cresset CEO Susie Cranston and Head of AI Strategy Kelly Wagman explore the modern family office, AI as a scale enabler, human-led advice, equity, culture, and what Cresset is building next.
In Summary
What does the modern multi-family office really look like—and how might AI change what it can deliver?
Cresset has grown from an idea less than a decade ago into a national wealth management and family office firm with more than $250B in assets unde...
Build, Grow & Transact: David Bahnsen on Building a $10.5B Business Worth Selling
David Bahnsen, Founder & Managing Partner, The Bahnsen Group
From $600mm to $10.5B, David Bahnsen built The Bahnsen Group almost entirely through organic growth. He shares the decisions behind that growth, the value of reinvesting in the business, and why selling to longtime partner Hightower became the right next step.
In Summary
David Bahnsen left Morgan Stanley in 2015 with eight people and $600mm in client assets, motivated less by dissatisfaction than by what he calls being “intoxicated by the idea of freedom.” Eleven years later, The Bahnsen Group has grown to $10.5B in assets, 106 empl...
Unleashing Potential: Why Capacity is an Advisor’s Biggest Competitive Advantage
Michael Kim — CEO & President, AssetMark
AssetMark CEO Michael Kim explains why advisor growth increasingly depends on creating capacity—and using outsourcing, technology, and AI to spend more time where advisors add the greatest value.
In Summary
Growth is a priority for nearly every advisory firm. But as client expectations expand and the business of wealth management becomes more complex, growth increasingly depends on an advisor’s ability to create capacity.
Jason Diamond speaks with Michael Kim, CEO and President of AssetMark, about why the strongest firms are intentional about where advisors spend...
Why So Many Successful Advisors Feel Stuck - Best of Replay
With Louis Diamond and Mindy Diamond
Louis and Mindy Diamond explore why successful financial advisors can feel stuck despite thriving businesses—and how agency, enterprise value, risk, legacy, and a clear true north can help them evaluate what comes next.
In Summary
Successful advisors by definition have thriving businesses, loyal clients, and enviable careers—yet still wonder whether comfort has replaced energy. Louis and Mindy Diamond examine why success itself can make change harder, how the desire for agency competes with the disruption of a transition, and why record practice valuations, longer careers, and...
Build, Grow & Transact: Making the Leap from Northwestern Mutual to a $20B Enterprise
Andy Schwartz CEO, OnePoint BFG Wealth Partners | Kevin Spahn Founder, Spahn Financial (now OnePoint BFG)
Two former Northwestern Mutual advisors, two very different paths. Andy Schwartz and Kevin Spahn share what it takes to build, grow, merge, and create lasting enterprise value.
In Summary
What separates a successful advisory practice from an enterprise with the ability to grow well beyond its founders?
Andy Schwartz and Kevin Spahn offer two different perspectives on that question. Both spent decades at Northwestern Mutual, but their paths eventually diverged. Andy left to help build what is...
Vanguard Acquires Altruist: What It Means for Advisors and the Industry
With Louis Diamond
Vanguard’s acquisition of Altruist could reshape RIA custody, bringing together Altruist’s technology with the scale, capital, and reputation of one of the industry’s best-known brands.
In Summary
Vanguard’s acquisition of Altruist brings one of the financial industry’s most established brands together with one of RIA custody’s fastest-growing challengers.
In this Rapid Reaction Industry Update, Louis Diamond looks beyond the reported $4B+ purchase price to consider what the combination could mean for advisors—what he sees as the good news, the potentially negative outcomes, and e...
Growth Without Compromise: Building Around the Advisor Experience
Shannon Spotswood – CEO, RFG Advisory
Choosing a platform isn’t just about technology or economics. It’s about finding a partner that helps you build the business you actually want to own. Shannon Spotswood explains why growth without compromise starts with choosing the right partner.
In Summary
What should advisors really look for in a platform partner?
Jason Diamond sits down with Shannon Spotswood, CEO of RFG Advisory, to discuss why the best platforms do more than provide technology and operational support—they help advisors build stronger businesses. Shannon shares lessons from hel...
Build, Grow & Transact: From Breakaway to Transaction in 3 Years
Three years after launching Oak Hill Wealth Advisors, Patrick Larkin merged with Cerity Partners, but not because that was the original plan. Pat shares how ownership changed his perspective on enterprise value, optionality, and building a business worth buying.
Why AI Matters Now: How a $1.5B RIA is Building the Firm of the Future
Most firms are adding AI to existing workflows. Ryan Belanger believes the bigger opportunity is building an advisory firm around it. He explains why Claro Advisors acquired a fintech company, how AI is changing advisor productivity, and what it takes to build a firm designed for what’s next.
IBD vs. RIA: A Special Industry Update on Independence
Louis Diamond and Josh Tomolak unpack today’s IBD vs. RIA decision, explaining how the models differ, where they overlap, and how advisors can evaluate which path best supports the business they want to build.
Build, Grow & Transact: $3.5B Cyndeo on Thinking Like a $25B Firm
Growth changes the questions leaders have to answer. Matt Kilgroe explains what happens when building an independent firm gives way to building an enterprise.
Lessons from the Links: From Golf Pro to $5B Family Office Partner
From professional golf to a nearly $5B multi-family office, Constantine Hatzivassiliou explains why the best advisors become the first call when life gets complicated.
Emotional Intelligence: The “Untouchable” Differentiator in an AI World
As AI makes expertise more accessible, what becomes an advisor’s true advantage? EI expert James Woodfall explains why authentic human connection may be the one thing technology can’t replicate.
The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 – Best of Replay
The best due diligence isn’t simply about finding a better firm. It’s about understanding what you’re building—and whether your current environment supports that vision.
Build, Grow & Transact: Americana’s $12B Path from Breakaway to Enterprise
Many advisors pursue independence for greater control. Jason Fertitta pursued it to build an enterprise. Today, Americana manages more than $13B and continues to scale through growth, acquisitions, and strategic capital.
From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story
Michael Smith shares how a client-first philosophy, niche specialization, and independence helped Emerald Advisors grow from $385mm to more than $1B in assets.
Architecting 100x Growth: A “How-To” From Legends Dan Sullivan and John Bowen
Most advisory firms grow through effort. The most valuable firms are built through architecture. Dan Sullivan and John Bowen explain why enterprise value is often determined long before a transaction occurs.
True Alignment: Advising business owners on Wealth, Significance, and Value
Nick Hubert and Taylor Gentry of Panoramic Capital Partners talk about helping business owners align personal significance, wealth, and business value through a long-term advisory framework.
The Advisor Transition Playbook: Inside Baseball on Due Diligence, the Move, and Everything In Between – Best of Replay
Jason and Mindy Diamond unpack the real advisor transition playbook—from due diligence and culture fit to portability, enterprise value, and the evolving landscape of advisor choice.
Why AI Matters Now: Filling the Estate Planning Gap with Wealth.com
Rafael Loureiro on why estate planning may become one of the next major advisor differentiators and how AI could turn it into a continuous planning process.
Short-Term Hard, Long-Term Easy: Ex-Edward Jones Advisor on Building Beyond $1B
After three decades at Edward Jones, Ricky Smith realized he wanted more than growth: he wanted ownership. Now, his independent firm is 50% larger than the business he left behind.
A President’s Perspective: Inside an $8B Boutique Firm’s Evolution
Leah Sciabarrasi of Crestwood Advisors shares how an $8B firm was built over time—through evolving leadership, disciplined growth, and a focus on scaling without disrupting the client experience.
The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2
A continuation of the Advisor Transition Playbook, this episode focuses on how the inputs to due diligence are evolving and how newer factors, such as AI and enterprise value, are shaping how advisors assess firms and long-term fit today.
From Serving Entrepreneurs to Becoming One: A $2B UBS Breakaway Story
Ben Domingue shares why he left UBS after building a $2B business, how advising entrepreneurs pushed him toward ownership, and what changes when you “eat your own home cooking.”
Next Gen Success: A Masterclass in Building Trust and Credibility in a $7B Multi-Family Office
Wen Nottebohm of Cresset offers a next-gen view on building a career path, earning trust with UHNW clients, leveraging mentors, and how AI is reshaping expectations.
From the Ground Up: How to Create a $2.4B Content Growth Engine
James Conole built Root Financial to ~$2.4B by focusing on content-driven growth, creating steady inbound demand and structuring the business to support it from the ground up.
Entrepreneur, Advisor, and Conductor: Orchestrating Success After Edward Jones
Ryan Guth, Founder of Goldfin Group, talks about moving beyond Edward Jones to build an independent business defined by control, differentiation, entrepreneurial alignment, and how this allows him to serve as a “conductor” to his clients.
The Annual Report on Recruiting, Deals, and Transitions
A companion to the annual Advisor Transition Report, this episode explores what’s driving advisor movement and what it signals about control, growth, and evolving business models.
When Success Isn’t Enough: Merrill Breakaways Make the Case for Independence
Todd Stankiewicz and Joe Castiglie share why leaving Merrill to launch SYKON Capital allowed them to redefine success, expand their toolkit, and combine institutional investing with behavioral insight in service of their clients.
Edward Jones to Independence: A $1.7B Post-Litigation Comeback Story
Todd Vincent and Dylan Ripley left Edward Jones to build Cedarwood Financial Partners—then faced a lawsuit that lasted nearly two years. They share how resilience, messaging, and focus helped them rebuild and grow.
Private Equity, Scale, and Strategy: Inside Kestra with Its CEO, President, and Private Equity Partner
Kestra’s CEO, President, and private equity partner discuss scale, capital, and why this business is no longer an income game — it’s a wealth game.
The Elevation of Independence: Jim Dickson on Building Real Enterprise Value
The founder and CEO of Elevation Point joins Louis Diamond to discuss minority capital, ownership alignment, data strategy, and how independent advisors can build scalable enterprise value without sacrificing control.
Why So Many Successful Advisors Feel Stuck
Many top advisors look successful on paper yet feel stuck. This Industry Update explores why “winning” can create new constraints, and how freedom, control, and enterprise value reshape what comes next.
Rise and Reinvent: Joe Duran on Building and Rebuilding World-Class Firms (Best of Replay)
Having built and sold two world-class firms, the founder of Rise Growth Partners shares lessons on leadership, innovation, and how growth requires constant reinvention.
Building for Continuity: Leadership Lessons from the Battlefield to the Firm
For Dennis Morton, succession isn’t a future problem, it’s a leadership obligation. Drawing on his experience as an Army platoon leader and co-founder of an independent firm, he shares how technical competence, accountability, and bold goals drive culture, next-gen leadership, and a business that can thrive beyond any one person.
Custody Reimagined: How Jason Wenk and Altruist Are Disrupting the Status Quo
A candid conversation on rethinking custody from the ground up—and why simplification, aligned economics, and integrated technology are becoming critical for advisors building modern, scalable firms.
An Alternate Exit Plan: How a $1.4B Merrill Team Solved for Succession
Succession doesn’t have to mean slowing down. This episode explores how Tim Krueger and his $1.4B Merrill team rethought succession, liquidity, and legacy to create long-term continuity.
