Episode 13: Succession Planning Most advisors know they need to create both a contingency AND succession plan, but that’s a task for another day! It is an emotional process and one that many advisors have difficulty facing. This special episode of the Powering Independence Podcast is hosted by our Head of M&A Joe Rizzo with special guests Mark Tibergian, CEO of Pershing Advisor Solutions and Brad Griswold, Managing Partner at Corbenic Partners. They cover the emotional aspects of creating a ...
Feb 04, 2020•1 hr 2 min•Season 1Ep. 13
Safe Passage: How to Move Your Business Optimally and Compliantly Along the journey to independence, compliance is one of the most misunderstood topics. Although many advisors have a basic grasp on what their risk officers do, how to run a SEC and/or FINRA Compliant Firm is somewhat of a mystery. In this discussion we will talk about the changes to broker protocol over the past ten years, hybrid RIA(s), what to do vs what not to do, and most importantly who gets to be the chief compliance office...
Jan 21, 2020•51 min•Season 1Ep. 12
Episode 11: The Intersection between Elite Athletes and Business Elite athletes spend years honing their physical skills in order to compete at a professional level. For many of these individuals, training, playing and recovering consume most of their physical and mental focus. For this discussion, we’ll examine the elite athlete from a few distinct points of view. Frank Zecca, a former collegiate athlete and now head of OFS Wealth, will discuss the tools he uses to assist pros with the manageme...
Jan 06, 2020•58 min•Season 1Ep. 11
Episode 10: Mapping Your Journey: Can I Really Use What I Like? Financial advisors need to ensure their clients will have access to great products and services when they transition to the independent space. Mutual funds, stocks and bonds all appear to be simple to transition, but what about things like precious metals, alternative investments, and corporate trusts? Cost of goods sold (COGS) is also important to entrepreneurs. We will investigate these topics and more as we talk about how to meet...
Dec 16, 2019•58 min•Season 1Ep. 10
Episode 9: Catch Me If You Can: Cybersecurity for RIAs In 2002, Steven Spielberg released the movie Catch Me If You Can – focusing on the life of Frank Abignale, a master con-artist and check forger. Frank was eventually caught by the FBI and ultimately helped them catch other con-artists and fraudsters. Today’s fraudsters use technology and cybercrime to steal from unsuspecting victims – including phishing e-mails, malware and identity theft. Forbes magazine estimates that cybercrime will resul...
Sep 04, 2019•1 hr 11 min•Season 1Ep. 9
Episode 8: Legal, Compliance and Freedom - Making Compliance Fun Again! (Part Two) Who would have ever thought that the topic of legal and compliance would require two episodes, but it does! Part #2 continues the discussion covering how a firm handles FINRA and the SEC when sorting through the confusion that exists when trying to satisfy both standards and how to maintain a high standard of regulatory diligence within independent wealth management firms. For this episode, we welcome back our ste...
Jul 25, 2019•42 min•Season 1Ep. 8
Episode 7: Legal, Compliance and Freedom – Making Compliance Fun Again! (Part One) One would never think about putting the words Legal, Compliance and Freedom in the same sentence. Many advisors, in the past, have considered the compliance departments in their old firm the anti-business unit, but that’s because many of those policies and procedures catered to the lowest common denominator of advisors. This unfairly restricted the best advisors and made it difficult to serve their clients. They k...
Jul 10, 2019•53 min•Season 1Ep. 7
EPISODE 6: The Next Generation of Advisors - Who will lead your firm’s future? Who will lead your firm’s future? If the answer is uncertain, then the enterprise value of your company will definitely be affected and it could even lead to clients leaving your firm. Your hosts, Gordon Ross and Ed Friedman, are joined by a panel of industry leaders to discuss how to best address these issues and attract more qualified young professionals into the industry. On the panel are David Root, CEO of DB Root...
Jun 19, 2019•1 hr 13 min•Season 1Ep. 6
EPISODE 5: Technology - Is My Stack Better Than Yours? There has never been more innovation when it comes to technology within the wealth management industry. With that, there has never been more confusion too! What is the best tech solution for my firm? How do I diagnose what my company needs? Once we adopt new technology software, how do I onboard it and drive adoption? Ed and Gordon are joined by a group of industry leaders who have had to answer these questions: Brian Schulte, Information Sy...
Jun 05, 2019•58 min•Ep. 5
EPISODE 4: Marketing - You Mean I Shouldn't Buy a Billboard? With new technologies and strategies constantly being developed, the approach to Marketing has seen dramatic change in recent years. RIA teams and industry leaders need guidance on how to leverage this critical channel for business growth and client engagement. How do you know if you are spending too much or too little on Marketing? How do you know you are receiving a return on your investment? To answer these questions, please join ou...
May 23, 2019•59 min•Ep. 4
EPISODE 3: M&A - The Power of Inorganic Growth So many firms want to grow inorganically and recruit established advisors to their firms and transfer their clients across, but what does this process actually entail? Is your firm M&A ready? How do you attract these advisors? What should the negotiation look like? Is the market too frothy right now? Ed and Gordon are joined by a panel of experts who live and breathe advisor recruitment every day: Mindy Diamond, Founder and CEO of Diamond Co...
May 09, 2019•1 hr 5 min•Season 1Ep. 3
EPISODE 2: The Science of Client Acquisition Growth is the lifeblood of any independent wealth management business. Adding new clients and assets is central to that growth. The best firms in our industry take a very deliberate, process driven approach. The Science of Client Acquisition takes a deep dive into some of the ideas and insights from industry leaders on this vital topic. Joining host Ed Friedman to explore this subject is Ken Haman, Managing Director of Alliance Bernstein, Erik Strid, ...
Apr 25, 2019•1 hr 20 min•Ep. 2
EPISODE 1: Women in Wall Street - When Socks Tell a Story Why have so few women joined the wealth management industry? What can the industry do to change this? What should a wealth management firm be doing to ensure it is attractive to female clients? Ed Friedman is joined by a panel of experts to discuss these questions and more: Michelle Smith, Founder and CEO of Source Financial Advisors, Penny Phillips, Founder and CEO of Thrivos Consulting, Sally Cates, Director of PR at Dynasty Financial P...
Apr 10, 2019•1 hr 10 min•Season 1Ep. 1
