With Gerry Spitzer — Founding Partner, Questar Capital Partners

Overview

Gerry Spitzer of Questar Capital Partners discusses leaving the wirehouse world after 30 years to launch an independent firm, sharing a perspective of building a business at Merrill and, more recently, UBS, and why focused, niche businesses may be better served in the independent space.

Listen in…

> 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.

About this episode…

Many of the most successful financial advisors agree that having a clear and succinct value proposition is critical. Equally important is the ability to deliver on it. For many advisors, the latter can be difficult—particularly those in large wirehouses, who are often limited in the services they can provide to their clients.

And it’s that very reason that many leave the big brokerage firms and start their own independent businesses.

Gerry Spitzer built an extraordinary business in the wirehouse world. After starting with the Merrill training program, he met his partner, Richard Reyle. Together, they invested 20 years at the firm, building a practice focused on exit planning and ESOP strategies to help business owners monetize their lives’ work.

Yet, like many of their peers, they felt things changed at Merrill once Bank of America took over. After careful due diligence, independence seemed like a bridge too far at the time, while UBS offered the support and strategic alignment they desired, along with the ability to serve their unique client niche.

A decade later, after building the business to some $850mm in assets under management, they decided it was time to consider their own succession plan and path to monetization—and they didn’t see UBS as the right partner for this part of their journey.

The independent space had matured quite a bit since they last looked around, so in 2022, Gerry and Richard left UBS to launch Questar Capital Partners with support from Sanctuary Wealth.

Today, they are managing $1B in client assets and see this as only the beginning of their new chapter…a chance to unlock a world of opportunity.

In this episode, Gerry shares his story with Louis Diamond, including:

• The changes in the wirehouses that motivated them to explore—and why they ultimately chose independence in their second transition.
• Their exponential growth at Questar—and what is fueling their current momentum.
• Serving a niche client base—and how they can better do so in the independent space.
• The value of partnerships—and how the dynamics between Gerry and Richard is a key factor in their success.
• The counsel they provide to their clients around retirement and exit planning—and how those conversations impacted their own decision-making process.

It’s a digest of advice for all employee advisors who are considering how best to serve their clients, especially those with a niche practice. Plus, Gerry offers advice on the due diligence process, which we are happy to have guided them through—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.

Related Resources

Diamond Consultants Advisor Transition Report 2024: Focus on Merrill
This “firm-focused report” looks under the hood at movement to and from Merrill from January to June of 2024.

Merrill Information Hub
A curated list of top-of-mind content for Merrill Advisors

Gerry Spitzer, CEPA, CPA, CPWA
Co-founder

Gerry Spitzer co-founded Questar Capital Partners in 2022 with his business partner Richard Reyle following a career that spanned more than 30 years in Wealth Management.  Gerry founded his own independent firm with a team of experienced, likeminded advisors who share a deep understanding of the financial industry and a passion for helping individuals and businesses achieve their goals.

At Questar, Gerry focuses on all aspects of private wealth management, including investment management, financial planning, multi-generational estate planning, tax planning and minimization, insurance and charitable giving.

Gerry spent his career at both Merrill Lynch and UBS before going independent.  During the years at Merrill, he worked with publicly held companies managing their equity compensation plans and deferred compensation plans.  At UBS and beyond, the focus has been working with privately held businesses on exit transactions, primarily ESOPs.

Gerry is a Certified Exit Planning Advisor (CEPA) as well as the President of the New Jersey Chapter of the Exit Planning Institute (EPI).  Gerry works closely with privately held business owners, advising them on exit and succession planning, liquidity needs and Employee Stock Ownership Plans (ESOPs).  As New Jersey Chapter EPI President, he creates a forum where the local community of professional advisors can collaborate. The New Jersey chapter also develops educational programs for business owners and professional advisors to build awareness and better prepare business owners for the successful exit of their business.

In addition to being a CPA and CEPA, Gerry is on the Rutgers Center for Employee Ownership Advisory Board, a member of the Forbes Finance Council, on the Board of the National Alliance on Mental Illness of New York and involved with financial literacy topics.  Gerry and his wife Jeanne have three daughters and live in Scotch Plains, NJ.  He is an avid golfer, traveler, and Jets and Syracuse University sports fan.  Gerry earned a BS in Accounting from Binghamton University’s School of Management.

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Michael Nathanson — CEO, Focus Financial Partners

Overview

Michael Nathanson shares his vision for Focus, offering a unique insider’s perspective on the firm’s evolution and differentiators, and how that plays into the future of independence. Plus, he offers thoughts on his own transition to CEO and advice for advisors and business leaders.

Listen in…

> 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.

About this episode…

“How the vision has grown.”

That’s a headline on the Focus Financial Partners website. And there’s a lot of truth in that statement.

Founded in 2004 by Rudy Adolf, Lenny Chang, and Rajini Kodialam, the American Express alums

recognized an opportunity to expand access to capital for independent advisors looking to achieve scale and increase growth, as well as monetize their life’s work.

In a conversation on this series in 2022, Rudy shared his vision and literal history of the firm’s role in transforming the independent space. Then, a year later, Rudy, Lenny, and Rajini left to explore new endeavors.

Michael Nathanson is now the CEO of Focus Financial Partners, taking the helm of a new generation of growth for the Focus ecosystem, which has grown to more than 90 partner firms in more than 38 states, plus Australia, Canada, Switzerland, and the U.K.

Michael was the CEO of one such partner firm, The Colony Group, when he was a guest on our show in 2023. Michael described how Focus was the right solution to help them grow their firm from $1B to $20B.

In this episode, Michael talks candidly with Louis Diamond about his new role as the CEO of Focus, including:

• The firm’s evolution—and how his own experience can serve to drive further growth.
• The role of “interdependence”—and how that concept plays into his vision for Focus.
• The transition from public to privately-held company—and what that means for partner firms.
• Key differentiators—and what prospective advisors and firms need to know about their culture and values.
• Their rebranding initiative—and how it reflects their strategy, vision, and path going forward.

 

Plus, Michael shares his thoughts on the future of independence and much more. It’s rare access to a leader who built his wealth management career from the ground up—a unique lesson for advisors and business leaders alike.

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

One-on-One with Rudy Adolf: How Focus Financial Partners Revolutionized RIA M&A—and Went Public in the Process
Industry legend Rudy Adolf describes how the idea of Focus Financial Partners came to be, filling a gap in how independent financial advisors accessed capital, resources and monetized their life’s work, plus the firm’s journey as a public company, their growth, how they are further evolving and more.

20X Growth in 10 Years: A $20B RIA on Embracing the Value of Private Equity and Interdependence
Michael Nathanson of The Colony Group discusses how “interdependence” helped to foster the growth of the RIA; the real value of equity partner Focus Financial; and their unique culture, curated services, and acquisition strategy, and more.

Michael Nathanson
Chief Executive Officer

Michael Nathanson is a highly respected and experienced leader in the wealth management industry. As Chief Executive Officer, Michael plays a pivotal role in driving organizational change and spearheading a range of firm-wide initiatives. He is relentlessly dedicated to bringing meaning and joy to the lives of clients, his team, and throughout the Focus Partnership, by fostering a culture that values lifelong learning, cultivates innovation, and offers opportunities to live lives full of passion and purpose.

Michael’s passion is reflected in the recognition he has received, having been selected ten times by Barron’s magazine as one of the top 100 independent financial advisors in the nation, included in Worth magazine’s list of the country’s top 250 wealth advisors and recognized as one of ThinkAdvisor’s 2022 LUMINARIES winners for Executive Leadership. He also was selected six times as a “Super Lawyer,” as published in Massachusetts Super Lawyers. During his tenure as Chief Executive Officer and Chair of The Colony Group, he is most proud of the firm being named one of 50 firms as a Best Place To Work for Financial Advisors by InvestmentNews.

As a lifelong learner, he is committed to sharing his knowledge and experience with clients, colleagues, and the next generation of industry leaders and is a frequent speaker at industry conferences. He also has served on the Fidelity Clearing and Custody Solutions Advisor Council and the Schwab Advisor Services Advisory Board. Previously, he served on the Board of Advisors for Boston University’s Program for Financial Planners and as Co-Chairman of the Boston Bar Association.

Also available on your favorite podcast app and other media sites

                  
     

Browse other episodes in this podcast series…

With Tony Smith — CEO, Stonegate Investment Group

Overview

Tony Smith of Stonegate Investment Group discusses transitioning from UBS after 14 years and $4.4B in AUM to independence and building the business to $6B, including the motivations to make a change at this stage of his career, how they achieved such extraordinary growth in a short time, and much more.

Listen in…

> 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.

About this episode…

“Constrained.”

It’s a word that many advisors who live in the wirehouse world use when describing the motivations around their move.

It’s a descriptor that demonstrates the feeling of a lack of freedom to serve clients and grow the business in a way that resonates with their vision—and not the mandates of a larger firm, bank entity, or shareholders.

Tony Smith was one of a team of seven at UBS serving HNW clients, generating some $18mm in annual revenue and managing assets in the vicinity of $4.4B.

Yet the feeling that things had changed during his 14-year tenure at the firm had grown stronger over time. Increasing constraints, bureaucracy, and an overall lack of freedom—all threads that Tony saw as a common symptom of life in the big brokerage firms.

And ultimately, the desire to have greater flexibility and autonomy became a strong pull to consider independence.

With two team members having some 5 decades in the industry each, one might think independence was a bridge too far. Yet Tony led the team in their launch of Stonegate Investment Group to achieve what they describe as an unconstrained and highly personalized experience for their high net worth clients.

And since its launch in 2021, Stonegate has grown to managing $6B in client assets.

Tony shares an incredible story of growth with Mindy Diamond, including:

• After growing the business to $4.4B, why Tony and his team chose to explore their options—and why they opted for independence.
• The limitations they experienced at UBS—and how independence offers them greater latitude in serving their clients.
• The complacency plateau—and how never reaching it is key to building an extraordinary business.
• “Your clients, your business, your self”—and why Tony feels it’s a long-term decision that should be thought through in that order.
• And much more.

It’s an incredible story that offers a perspective on why advisors seek change and how that motivation and clarity around goals can result in extraordinary growth—relevant to employee advisors and business owners alike.

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

Diamond Consultants Advisor Transition Report 2024 – Focus on UBS
This “firm-focused report” seeks to look under the hood at movement to and from UBS from January to June of 2024.

The Juggling Act: Balancing Short-Term Needs and Long-Term Goals
A process to help you identify and prioritize your immediate needs vs goals for the future when considering a move.

Rapid Reaction: UBS Comp Plan Changes and the Impact on Advisors
Louis Diamond offers a perspective for UBS advisors on the firm’s compensation plan changes announced on November 21. It’s an episode for advisors who are curious about the updates and how they can use this knowledge to make informed decisions.

 

Tony Smith
CEO 

Tony Smith is the CEO of Stonegate Investment Group and has been advising wealthy families and institutions for more than three decades.  Tony also serves as the Chief Investment Officer at Stonegate. After beginning his career in corporate finance, Tony advised Ultra-High Net Worth family groups at Smith Barney for 15 years.  In 2007, Tony and his entire team joined UBS Financial Services, where he served as Managing Director – Investments and Senior Portfolio Manager and Branch Manager.  Tony has been recognized as one of the nation’s top financial advisors by Barron’s, the Financial Times and Forbes, ranking as Barron’s top Financial Advisor in Alabama in 2018 – 2021.  In 2021, Barron’s named Tony’s team as one of the Top 100 Private Wealth Management teams in the country. Tony has been ranked in Barron’s 2023 Top 100 Independent Advisors and the #2 Financial Advisor in Alabama.  In July 2021, Tony and his partners formed Stonegate Investment Group, LLC., an independent Registered Investment Advisory firm.

Tony has been happily married to his high school sweetheart, Tammy, for 38 years.  He has two children Justine (34) and Haley (30), and 3 grandchildren.  He enjoys hunting, fishing, spending time at his farm, and traveling.

Tony holds a BS in Finance and an MBA from the University of Alabama at Birmingham.

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

An Annual Digest for Financial Advisors – 2024 Edition, with Louis Diamond

Overview

A compendium of advice extracted from 48 episodes of the 2024 season of the Diamond Podcast for Financial Advisors, including the importance of your “Why,” the most compelling reasons for change, being a “true” fiduciary, unique value propositions, and more.

Listen in…

> 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.

About this episode…

When we started this series back in 2017, we had no idea how many meaningful conversations we would have with top financial advisors, C-suite executives, entrepreneurs, and thought leaders.

It’s gratifying when listeners share how a guest inspired them, or they learned something new, or how the conversations provided just the information they needed to help them create their best business life.

And that’s why we compile this annual recap episode: It offers listeners a digest of some of the best advice from our 2024 season guests.

In combing through 48 episodes, we extracted the most compelling themes and relatable guidance from your peers—and what we found in our conversations was amazing.

Many of the most successful advisors, business owners, leaders, and entrepreneurs share a common thread: They each place incredible value on their “why”—their personal motivations that serve as the foundation for their success and how the client is often at the heart of it.

The result is a compendium of advice on what it really takes to get from here to there—and ultimately take your practice from good to great!

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

Featured in this episode…

• Justin Berman, Co-Chairman at Cresset and Founder of Berman Capital Advisors
• Brett Bernstein, CEO and Co-Founder, XML Financial Group
• Allan Boomer, Partner and CIO, Momentum Advisors
• Jeff Brown, President, Stratos Private Wealth
• Matt Brown, Founder, Chairman, and CEO, CAIS
• Brent Chappell, Managing Partner and Co-Founder, Chappell Wealth Management
• Jerry Davidse, CEO, Presilium Private Wealth
• Michael Henley, Founder & CEO, Brandywine Oak Private Wealth
• Michael Kitces, Industry Thought Leader and Chief Financial Planning Nerd
• Matt Liebman, CEO, Amplius Wealth Advisors
• Barry Mitchell, Founder & Managing Director, Next Level Private
• Erik Morgan, President, Senior Partner, Freestone Capital
• Angie Ostendarp, Senior Managing Partner, Carnegie Private Wealth
• Taylor Pankratz, President and Co-Founder, Holistic Planning
• Jordan Raniszeski, Senior Managing Partner, Carnegie Private Wealth
• Mike Quin, Managing Partner, DayMark Wealth Partners

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Bill Good, Founder & Chairman and Frantz Widmaier, Chief Executive Officer, Bill Good Marketing

Overview

A free session on accelerating growth via marketing with one of the leading firms in the wealth management industry. They offer advice on the value of content, the referral process, building strategic partnerships, CRMs and technology, and much more.

Listen in…

> 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.

About this episode…

Marketing touches all aspects of what a firm says, how daily business is conducted, how clients are retained, and how prospects are attracted.

It’s an essential practice that, when done strategically and thoughtfully, can be the biggest game-changer for every advisor’s practice.

And when it comes to marketing in the wealth management industry, Bill Good is one of the top names in the space.

As the founder of Bill Good Marketing, Bill and his team focused on not just the messaging but also the delivery and processes around client acquisition and retention, as well as practice management—because messaging is only one piece of the puzzle for a successful wealth management business. Advisors and firms also need solid processes in place to run effectively and optimally serve clients.

Bill and his firm’s CEO, Frantz Widmaier, join Mindy Diamond to share salient tips, including:

• The value of content—and how there’s great power hidden in your written, spoken, and video messaging.
• Video best practices—and why mindset is the most important investment of your time and effort.
• Revolutionizing the referral process—and how you can adapt your own processes to leverage partners.
• Avoiding the “strategic one-way street”—and how to build real strategic relationships united for the benefit of the client.
• The proper use of a customer relationship management (CRM) tool—and how the connection with marketing is often the secret sauce to success.
• Key principles around time management—and how it surprisingly impacts all aspects of marketing and the client engagement processes.
• The efficacy of technology and AI—and why they are not replacements for advisors but enablers for growth.

This episode will get you thinking about the new year and beyond. You’ll walk away with valuable tips and advice on accelerating growth from an industry legend—action items you can start on today.

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

Innovative Ways the Best Independent Firms Fuel Growth: A Special Industry Update
Independence allows advisors to create an unlimited menu of innovative value-add services for their clients. And as the industry landscape expands, employee advisors are finding ways to get in on the action. Learn specific examples of the various services offered by some of the industry’s leading independent firms.

What’s the ‘Real’ Value of a Financial Advisor’s Business?
A still red-hot RIA M&A market has many employee advisors pondering what their business could be worth on the open market. Here are 3 valuation scenarios to address that curiosity.

Michael Kitces on Advisor Wellbeing: How Autonomy is Trumping Income When it Comes to Advisor Happiness
Listen in for an insightful and revealing look into advisors’ minds and what really makes them happy, based on data from the latest Kitces survey. Learn the motivations and drivers that lead not only to success but to a better quality of life.

Bill Good
Chairman

Bill Good is the Chairman of Bill Good Marketing, Inc. With a career spanning decades, Bill has revolutionized financial advisory practices through the Bill Good Marketing System, a marketing system based on best practices.  He has written two influential books, Prospecting Your Way to Sales Success and Hot Prospects, both of which are in print from Simon & Schuster.  He has delivered thousands of seminars and has written 392 articles in major industry trade magazines.

Beyond his professional achievements, Bill is an avid reader and a passionate photographer. He enjoys walking his Shih Tzu, Pepper, and has been happily married to his wife Joava for 51 years.

 

Frantz Widmaier
CEO

Frantz Widmaier is a dynamic leader with a rich background in marketing, technology, business strategy and operations. Currently the CEO of Bill Good Marketing, Widmaier has been with the company since 2017, initially serving as Chief Operating Officer and then transitioning to CEO in 2021. He has been instrumental in driving the company’s technological innovation, aligning its growth, evolving its culture, and building a strong executive body so that the business can continue to serve the evolving needs of financial advisors. Under his leadership, Bill Good Marketing continues to build on its legacy of helping financial advisors grow their businesses through cutting-edge marketing and retention strategies.

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Mindy Diamond & Louis Diamond

Overview

Mindy and Louis Diamond’s annual review is designed to provide guidance on the most impactful wealth management industry trends anticipated for 2025 including transitions, deals, comp, private equity, the wirehouse recruiting race, and more.

Listen in…

> 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.

About this episode…

It’s time to turn the page on another year—and an exciting one it was.

The election activity aside, the wealth management industry made headlines on its own, with mega-teams on the move, massive M&A deals, and stunning leadership shifts.

What does this all mean for advisors?

How does this activity color the year ahead?

Mindy Diamond and Louis Diamond take their annual look back at the year past and share thoughts on the year ahead, including:

• Transitions: Will 2025 movement beat 2024?
• Deals: Will they head higher or recede?
• Compensation changes: What impact will they have on movement?
• Wirehouse recruiting: Which firms will be most prominent in the race for top talent?
• Private equity: Will it continue to drive M&A activity and RIA growth?
• Custodians: How will expansion impact the growth of the RIA space?
• And what’s the “next big thing” for 2025?

This is the one episode to listen to for guidance designed to help advisors and business owners alike inform their goal-setting and be better prepared to make decisions for the coming year with the power of knowledge behind them.

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

Of Myths and Moving 2024
What’s the reality when it comes to recruiting and transitions? An annual perspective for advisors.

Mid-Year Report on Deals, Transitions, and Recruiting
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.

Should I Stay or Should I Go?
The Book for Financial Advisors by Mindy Diamond

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Mike Quin – Managing Partner, DayMark Wealth Partners

Overview

Mike Quin, a former Market Manager at Wells Fargo, left the wirehouse world to launch DayMark Wealth Partners. Mike offers a candid perspective on his experience and how it motivated him and his team to build an independent firm that is focused on their clients, the strategies behind their extraordinary growth from $1B to $4B, and other valuable lessons for employee advisors and business owners alike.

Listen in…

> 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.

About this episode…

Many think that the breakaway movement is driven primarily by advisors—that is, those servicing clients and managing books of business yet attracted to the premise of being an entrepreneur and the prospect of building equity in the long term.

No doubt that’s true, but there’s also a trend of some of the biggest and brightest leaders in the industry who are equally motivated to execute their vision beyond the hallowed walls where they honed their leadership skills.

Mike Quin’s 26 years in the industry, for example, was primarily in senior leadership roles at Morgan Stanley, UBS, and, most recently, Wells Fargo Advisors as the Ohio Market Manager, where he was recognized as a Premier Manager each year.

In Mike’s view, his role was to work with financial advisors and their clients. Yet, over time, he felt the big firms were changing their perspective of the client side.

So, like many returning to the office after COVID, Mike and his advisor friends who ran their own practices at Wells found themselves thinking about the value they received from the firm—and whether they could fully serve clients with impunity.

In this episode, Mike joins Louis Diamond to talk about his decision to break away and their extraordinary growth from $1B to $4B, including:

• Specific pain points he experienced at Wells—and how that drives his vision for success.
• Building a team—and how individual advisors came together to create DayMark Wealth Partners.
• Life in a leadership role—and how his experience in the wirehouses differs from that of DayMark.
• The importance of staying true to their clients—and how building with intentionality is helping them to deliver better service.
• Their strategy for growth—and how recruiting the right advisors and teams plays into their plans.

It’s an important conversation with someone who saw the wirehouse world from the top down and is willing to candidly share his experiences—offering sage advice for employee advisors and business owners alike.

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

Should You and a Non-Partner Colleague Transition Together?
There are valid reasons to consider changing firms or models with a colleague. But is it right for you?

Innovative Ways the Best Independent Firms Fuel Growth: A Special Industry Update
Independence allows advisors to create an unlimited menu of innovative value-add services for their clients. And as the industry landscape expands, employee advisors are finding ways to get in on the action. Learn specific examples of the various services offered by some of the industry’s leading independent firms.

The Employee Advisor’s “Gut Check”
Have you had that “feeling in your gut” that says, “I’m not sure that where I am is allowing me to serve my clients best?” Many advisors get stuck at this point, uncertain of how to qualify whether the feeling has any basis in reality. We’ve created the “Employee Advisor’s Gut Check” tool. With it, you’ll be armed with the right criteria by which to evaluate your current firm, as well as any others you may be considering.

Mike Quin
Managing Partner/CEO

Mike Quin is one of the seven founders of DayMark Wealth Partners. Mike is responsible for managing the firm and growing the business through acquiring elite advisory practices across the country. He is focused on delivering a unique Multi-Family Office strategy to only the very best Advisors who choose DayMark. Through DayMark’s triangulation of advice, he has created a model that helps navigate possible conflicts of interest in which Advisors, for their clients, are able to create, build and preserve Generations’ Worth of Wealth.

Mike has 26 years’ experience in the Private Wealth Management Industry. Mike has spent most of his career in Senior Leadership running the Private Client Group Businesses in Ohio and Connecticut at UBS, Morgan Stanley, and most recently, Wells Fargo Advisors. During his time at Wells Fargo Advisors Mike served as The Ohio Market Manager and was recognized as a Premier Manager every year he was with the firm. Mike also was a member of the Executive Committee for the firms Women’s Initiative.

A graduate of Ohio University, he also attended The Wharton School where he received the SIFMA Certificate from Securities Industry Institute. Mike sits on the Board of the Karen Carns Foundation and is involved in many initiatives to help children throughout the communities in which DayMark does business. Mike enjoys playing golf, skiing, or any activity with his family. He is married to Christina, who also attended Ohio University. They have three kids, Jack (23) who recently graduated (University of Cincinnati) and is now working in the area with Altafiber, Kate (21), who a Senior year at the University of South Carolina, and Kevin who is a Sophomore at the Carl H. Lindner College of Business, University of Cincinnati.

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Steve Brennan — Managing Director, Head of Private Wealth Solutions, Hamilton Lane

Overview

Steve Brennan, Managing Director and Head of Private Wealth Solutions from one of the leading private markets firms offers a unique perspective on the space, including how democratized access has helped foster growth beyond the wirehouses, the impact on an advisor’s business, innovations and trends, and much more.

Listen in…

> 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.

About this episode…

The private markets space has experienced tremendous growth over the last 20 years. From private equity to private credit and direct investments, clients have come to expect their advisors to have broad access to bespoke and interesting opportunities.

And firms like Hamilton Lane rose to the challenge to make that possible.

Founded in 1991, Hamilton Lane has become one of the largest and most respected private markets investment firms worldwide. Initially, the firm focused on private equity consulting, providing institutional investors with insights into the growing landscape of private assets.

Their focus on data-driven insights and customized solutions has made them a key player in the race to democratize access to private markets serving large institutions, individual investors, and family offices through tailored products and strategies.

In a space that’s growing by leaps and bounds, how can an advisor determine the best path for their clients?

Steve Brennan, Managing Director and Head of Private Wealth Solutions at the firm joins Louis Diamond to answer that and more, including:

• Access to private markets—and what advisors need to consider when looking for a solutions partner.
• Fostering growth—and how offering access to clients can enhance an advisor’s bottom line.
• The competition—and how Hamilton Lane compares to other options.
• The innovations and trends Steve’s seeing—and how each can impact an advisor’s business.

It’s an educational episode with valuable information for employee advisors and independent business owners alike. Steve provides an informed perspective from one of the leading private markets firms in the world.

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

Innovative Ways the Best Independent Firms Fuel Growth: A Special Industry Update
Independence allows advisors to create an unlimited menu of innovative value-add services for their clients. And as the industry landscape expands, employee advisors are finding ways to get in on the action. Learn specific examples of the various services offered by some of the industry’s leading independent firms.

Is The End Near at The Wirehouses?
The headlines, reports, and data all seem to indicate that the model is tagged for extinction. But is that really the case?

Wealth Management Landscape At A Glance: Focus on Independence
In a greatly evolved industry landscape, the independent space has expanded to offer a variety of models with varying levels of freedom and flexibility. Which one might be right for you? This “Landscape at a Glance” focuses on independence, providing the key features of each model.

Steve Brennan
Managing Director and Head of Private Wealth Solutions

Steve is a Managing Director and Head of Private Wealth Solutions, leading the firm’s efforts to provide both evergreen and traditional private markets solutions to the growing Private Wealth channel. In this capacity he sets the strategic direction and oversees all aspects of the Private Wealth Solutions business.

Previously, Steve held numerous leadership roles in Hamilton Lane’s institutional business including Global Head of Business Development. Steve serves as a member of the firm’s Investment Committee and Evergreen Portfolio Committee. Prior to joining Hamilton Lane in 2002, Steve held relationship management and investment support roles at Goldman Sachs (GSAM) and BNY Mellon.

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Louis Diamond

Overview

Louis Diamond offers a perspective for UBS advisors on the firm’s compensation plan changes announced on November 21. It’s an episode for advisors who are curious about the updates and how they can use this knowledge to make informed decisions.

Listen in…

> 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.

About this episode…

On November 21, UBS Wealth Management announced sweeping changes to its advisor compensation plan.

As consultants to financial advisors, our role is to provide guidance on anything that can potentially impact their ability to optimally serve clients and grow their businesses.

The goal of this episode is to take a step back and provide UBS advisors with some context on this important issue: a lens through which to consider their business in a more strategic way and to understand how these changes might stack up to competitors in the industry.

Louis Diamond shares his perspective for UBS advisors, including:

• The key elements of the changes to the UBS compensation plan.
• The ramifications for individual advisors, and teams large and small.
• Who is impacted the most and how.
• How this compares to compensation plan changes at other wirehouses.
• And steps an advisor could take to learn more.

This episode is for UBS advisors who are curious about the plan changes, what they mean for their business lives, and how this knowledge can help them make informed decisions in the future.

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

Diamond Consultants Advisor Transition Report 2024: Focus on UBS

It’s the only report of its kind in the industry, designed specifically for UBS advisors. So complete the form below to get your copy.

Please note: Your information is shared only within our firm in complete confidence and without obligation.

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

With Jason Diamond and Louis Diamond

Overview

Jason and Louis Diamond explore strategies for maximizing enterprise value, whether or not an advisor plans to move. Learn actionable insights, key business practices, short-term vs. long-term tactics, and real-world examples.

Listen in…

> 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.

About this episode…

All advisors, regardless of whether they are content where they are, are considering a move, or are in the process of doing so, would be wise to reconcile questions like:
How much is my book worth?
How portable is my book?
And,
How will this firm help me to increase the ultimate enterprise value of my business?

Maximizing value is typically the goal of any advisor, regardless of whether they are pondering a move or not—and the reality is that movement is not, and should not, be a precursor to focusing on optimizing your enterprise value.

So then what should an advisor who may not be considering change be thinking about?

In this special Industry Update, Jason Diamond and Louis Diamond talk about the key components of an advisor’s business that impact enterprise value.

Listen in to learn:

• The economics—and how an advisor can determine their maximum career enterprise value (or MaxCEV as we call it).
• Setting up the business for success—including logistical and operational practices you should be reviewing on an ongoing basis.
• Looking at the short-term and the long-term—and how each requires different strategies and tactics.

Plus, they share real-world examples of the factors that make a business more “attractive” and how that impacts value and strategic shifts for advisors who may never make a move but are set on maximizing their carer enterprise value.

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

How to Maximize Your Career Enterprise Value
This formula seeks to provide a process by which an advisor can “calculate” the sum total of 4 key factors—to conceptualize what their career enterprise value really is and how to achieve it. It’s one of the central tenets of Diamond Consultants’ process in guiding advisors through due diligence.

Top Tips for Setting Your Business Up for Success Years Before a Move
In this document, we have compiled the most salient tips collected from over two decades of helping our advisor-clients through successful transitions.

 

Also available on your favorite podcast app and other media sites

                            

            

 

Browse other episodes in this podcast series…

Allan Boomer, the CIO of Momentum Advisors, shares his journey from a working-class background to an internship at Merrill and later landing at Goldman. In this episode, he discusses leaving Goldman to gain the ability to act as a true fiduciary in independence, the role of diversity as his “superpower,” his vision for a “100-year business,” his focus on long-term growth, and more.