Powering Independence Podcast

Inside the Deal Part 4: Integration Zero in on how to integrate an RIA, a new team, or a new advisor into your firm. In Part 4: Integration, Harris Baltch is joined by Jack Petersen, Co-Founder and Managing Partner of Summit Trail Advisors. With 9 M&A deals completed since launching their firm, Summit Trail has deep experience in structuring transactions and integrating advisors and teams into their business. Join the two as they delve into integration best practices, common pitfalls that buyers should be aware of to be successful on their next deal and more.

Inside the Deal Part 3: Closing Zero in on negotiating & closing RIA deals, and learn best practices for RIAs contemplating a sale. ​​​​In Part 3: Closing, Harris Baltch, Dynasty Head of M&A and Capital Strategies, is joined by​​​​​​ Marty Bicknell, CEO of Mariner Wealth Advisors, to discuss how to negotiate and close RIA M&A successfully. Join the two as they delve into how to close deals in a virtual world, how a buyer can differentiate themselves from the pack, repeatable M&A tactics to move a deal from signing to closing and much more.

Inside the Deal Part 2: Execution Zero in on RIA deal execution behind closed doors and learn best practices for RIAs contemplating a sale. Harris Baltch, Dynasty's Head of M&A and Capital Strategies, is joined by Liz Nesvold, Managing Director and Head of Raymond James' Asset and Wealth Management Investment Banking Unit, to discuss how to execute RIA M&A successfully. Join two of the most accomplished RIA dealmakers in the space as they delve into a review of the evolving M&A landscape, how execution has changed throughout the pandemic, structural considerations, valuation best practices and much more.

  Inside the Deal Part 1: Deal Readiness How do RIAs know if they are M&A ready? How are deals sourced? Harris Baltch is joined by Mark Tibergien, Founder of Mark Tibergien Insights, former CEO of Pershing Advisor Solutions and current Board Member of Pathstone Family Office, and Brad Armstrong, Partner at Lovell Minnick Partners, to delve into the key criteria for ‘M&A deal readiness’, how to access the best COIs for originating high quality M&A opportunities, and more.  

Episode 30: Getting the Inside Scoop on the Independent Space:  A Conversation with Ben Harrison In this episode, Austin speaks to Ben Harrison, Co-Head of Wealth Solutions at BNY Mellon | Pershing.  Their discussion covers Ben’s professional journey and some of the lessons he has learned along the way, as well as, his insights into the future of the independent space.  Austin and Ben also cover the importance of financial literacy and the wealth management industry’s responsibility to help people understand their wealth and finances.

Episode 29: How to Find and Keep the Best Talent within Your Organization With more than 30 years of experience in Financial Services, Mason Salit, Chief Talent Officer at Dynasty Financial Partners, has a very unique vantage point on identifying and growing human capital.  Mason brings passion and joy to his day-to-day duties and discusses the importance of a strong culture of mentorship in this podcast.  Having known each other for more than 16 years, Austin and Mason share lots of stories and laughs—definitely worth a listen.

Episode 28: Improving Your Communication as a Leader   This podcast focuses on a very important theme for leaders—communication.  I am joined by Adam Piandes, who is a coach, author, speaker, and entrepreneur.  We discuss how to have authentic conversations with fellow team members in the work environment.  We unpack how to be compassionate, even when the stakes of running a business are high.  Finally, we touch on the impact of social media on our lives and our connections to others. This one is worth a listen.  

Episode 27: Trends in the Off-Shore Advisory Space   As one of the major wealth management institutions exits the international market, we sit down with Miguel Sosa, Founder and Partner at Premia Global Advisors.  After more than 30 years at Merrill Lynch, Miguel founded Premia.  Miguel shares his view on the space, his process, and the opportunities for advisors to move away from a transactional business model.  This conversation spans both the on-shore and off-shore focused advisor and is certainly a timely topic in today’s wealth management environment.  

Episode 26: In this year’s final podcast, I speak with Lisa Crafford, a principal within the Platform Strategy and Consulting Group at BNY Mellon | Pershing.  A former Australian National Trampoline Champion and world-wide traveler, we discuss a wide variety of themes relevant to the independent advisory movement. You’ll want to listen in order to understand the relevance of “hungry, humble, and smart.”

Episode 25: What it means to be a “Schwabie”—Examining the Powerful Culture of Charles Schwab through the Stories of its People Guests: Brad Losson, VP & National Managing Director, Relationship Management at Charles Schwab Advisor Services Jerry Cobb, Managing Director, Business Consulting at Charles Schwab Leslie Tabor: Managing Director, Business Consulting at Charles Schwab In this episode of the Powering Independence Podcast, we explore the people and culture of Charles Schwab.  Our guests talk about what is different about their place of work and why they are so enthusiastic about promoting their firm.  With varying levels of experience and career paths, each story helps to illuminate the power of being a Schwabie.

Episode 24: Making the Uncomfortable, Comfortable: How to Discuss the Meaning of Wealth as a Financial Advisor Guest: Tobias Donath, Vice President, Fidelity's Center for Family Engagement The roles of financial advisors have morphed over the years.  With the democratization of products and most services, building deeper relationships with clients is critically important.  However, the path towards conversations about family values, the significance of wealth, and legacy can be challenging for some.  In this episode of the podcast, Tobias Donath from Fidelity’s Center for Family Engagement and I discuss the importance of this discussions and how to start them.  If you are an advisor thinking about how to engage with your clients in new and meaningful ways, this podcast is for you.   Dynasty Financial Partners is an independent entity and not affiliated with Fidelity Investments. Fidelity Institutional SM(FI) provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC. 946333.1.0

Episode 23: Homemade Volcanoes, Zoom Calls, and Snap Filters: Managing Work-Life Integration in Today's Environment One of the most obvious impacts of COVID-19 has been the need to integrate professional and family life in a much closer way.  With many schools beginning the academic year remotely, working parents are called upon to balance many new roles and responsibilities.  A silver lining in the pandemic is that families have had the opportunity to spend more time with each other than ever before.  In this episode of the podcast, I am joined by three parents, all who share their authentic journeys around navigating the new normal.  We have some laughs and some tears and some really great stories. Guests: Alex Hansen, Senior Vice President, Chief Compliance Officer, Dynasty Financial Partners Jill Russo, Vice President, Compliance, Dynasty Financial Partners Alyssa Kamangar, Associate, Finance, Dynasty Financial Partners

Episode 22: A Differentiated Business Model for Differentiated Clients: How Intellectus Built a Firm for Entrepreneurs Guest: Dave La Placa, Founder and CEO of Intellectus Partners Dave La Placa has an incredible background and many great experiences that fuel this conversation.  A founder of several companies, co-executive producer of a movie, board member for several technology companies, and CEO of Intellectus Partners, an RIA Focused on entrepreneurs.  Dave brings an tremendous amount of insight into the mindset required to build and grow businesses—especially businesses in the tech sector.  As a true operator in Silicon Valley, he shares valuable insight into how he is able to service these clients as a registered investment advisor.  Finally, as we built the Dynasty presence on the West Coast, we shared an office with Dave, which created a great foundation for our dialogue.

Episode 21: Operational Excellence: A Discussion on How to Effectively Translate Military Knowledge to Financial Services Organizations On this episode of the podcast, Austin speaks to Jim Combs, Chief Executive Officer of National Advisors Trust.  Jim discusses his time at West Point, where he was a 4-time varsity lacrosse player.  The conversation hones in on leadership, service, and creating a sustainable culture through setting the right standards.

Episode 20: Into the Great Wide Open: Perspectives of the Advisor Transition Process from the Front Lines. Into the Great Wide Open was the eight studio album recorded by Tom Petty and the Heartbreakers in 1991.  The title track follows Eddie as he embarks upon a music career in Hollywood.  Although perhaps a reach, there are several similarities between the protagonist of the song and the protagonists of the independent advisor movement.  First and foremost, the future is wide open, the sky is the limit, and there is often a sense of rebellion. On today’s episode, I am joined by Chuck Cooper, co-founder and Managing Partner of StrongBox Wealth in Lee’s Summit, Missouri and two of my colleagues, Jason Pinkham, co-founder and Managing Director at Dynasty Financial Partners and Caitlin Douglas, a Vice President and top transition specialist at Dynasty.  We will be discussing the transition process from a traditional financial institution into the independent space.  The perspective will be from the team responsible for all of the planning and execution of the move.

Episode 19: Hitting the Right High Note: A Conversation with one of the Founders of High Note Wealth Michael Forrester received a degree in History from the University of Minnesota and an Associate Degree in Culinary Arts from Le Cordon Bleu College.  He combined that experience with a career in real estate to begin a wealth management career.  Recently, Michael took the next step in his life by starting High Note Wealth Wealth in Deephaven, Minnesota.  Michael has both his CFA and CFP Designations and is the CIO of High Note Wealth.  Today’s discussion focuses on his career trajectory and lessons learned from starting an RIA.

Episode 18: Entering the Matrix: A View from Inside the Future of Wealth Management Guests: Ben Weisshaut, Founder and CEO of Wishlife and Mang-Git Ng, Founder and CEO of Anvil Foundry Fin-tech is a buzz word within the financial services and wealth management space. Thinking about the future intersections between technology and the delivery of financial advice is a really fun exercise. Silicon Valley has been a hub for innovation and design for many years. A tremendous amount of wealth has been created through “start-up” ventures. These ventures have created a whole new set of rules for the life-cycle of businesses. Ben Weisshaut and Mang-Git Ng are both founders of companies looking to modify the wealth management landscape. In today’s episode we’ll investigate the future of technology in the advisory space and the role owners play in the culture creation at their companies.  

Episode 17: How Does the Math Work? Guest: Ben Bines, Senior Vice President, Network Development, Dynasty Financial Partners Compensation matters…full stop…period.  Understanding the economics of running an independent registered investment advisor is incredibly important.  The benefit in this transition from an employee to an owner is the control.  As an owner, the principals now control the decisions—how much to spend on real estate, marketing, and employee salaries. With all of the misinformation in the marketplace, it is challenging to know what is fact and what is fiction.  In today’s episode, we speak with the quantitative powerhouse Ben Bines.  Ben will walk us through the most important financial considerations when choosing the independent path and common mistakes advisors make during this process.  We’ll also spend some time dispelling myths around the cost of independence.

Episode 16: Providing Financial Advice In the Middle of the Corona Virus Outbreak and Market Volatility   These are unprecedented times both domestically and globally.  COVID-19 has had far-reaching impacts upon many areas of our lives.  Volatility has spiked in the global marketplace and has certainly increased the volume of communication necessary from our advisors to their clients.  The intensity of fear/uncertainty feels similar to the housing crisis in the late 2000s.  Thinking back to that time, it was the advisors who formulated a thoughtful plan, demonstrated confidence, and executed who won.  In this conversation, Matt Celenza joins me to discuss how he is guiding his clients through these challenging times.  

Episode 15: Making Change Count How to Positively Impact Diversity and Create Change in the Financial Services Industry, Guest: Meghan Philbin, Communications Consultant and Coach, Templar Advisors