The Diamond Podcast for Financial Advisors

MAR 26, 2026

The Annual Report on Recruiting, Deals, and Transitions

<h2>With Jason Diamond and Louis Diamond</h2> <h3>Overview</h3> A companion to our annual Advisor Transition Report, Jason Diamond and Louis Diamond unpack what’s driving advisor movement in 2025, and what the data reveals about control, growth, and where the industry is heading. <h3>Listen in…</h3> <a href="https://hubs.ly/Q048m_5z0" target="_blank" rel="noopener">> Download a transcript of this episode…</a> 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. <h3>Watch…</h3> https://youtu.be/JJGz4N0Y4UI <h3>About this episode…</h3> After thirty years of counseling financial advisors – including many of the most successful in the industry – we started to see patterns emerge. Sure, every advisor’s situation is unique. And firms evolve, markets change, and business models shift. But the underlying questions advisors wrestle with around control, growth, and enterprise value tend to repeat themselves. Increasingly, the answers to those questions are revealed in the data—that is, when you know where to look. This is exactly why we go through the yearly process of creating our Advisor Transition Report. And this year’s edition doesn’t disappoint. (If you haven’t downloaded your copy yet, get the latest edition here.) Just from raw numbers alone, here’s a spoiler alert: 11,172 experienced advisors changed firms in 2025 compared to 9,615 in 2024. In this companion podcast episode, Jason and Louis take a deeper dive into the data and provide additional color on: <ul> <li>What’s actually driving that level of movement?</li> <li>Where are advisors going and why?</li> <li>Which firms are the winners? And who’s losing the recruiting game?</li> <li>What models have become most attractive to advisors and why?</li> <li>What’s the impact of AI on the role of the advisor and movement—and how will it shape the industry at large?</li> <li>How is the balance of power between advisors and firms evolving?</li> </ul> Plus, they dive into some real-world transition case studies to further illustrate what’s driving change. It’s an episode that provides an inside perspective on the trends behind advisor movement and recruiting, and the potential impact on advisors and business owners alike. Want to learn more about where, why, and how advisors like you are moving? <a href="https://www.diamond-consultants.com/contact-us/">Click to contact</a> us or call 908-879-1002. <h3>Related Resources</h3> <a href="https://www.diamond-consultants.com/tools-and-resources/diamond-consultants-financial-advisor-transition-report/">The 4th Annual Advisor Transition Report</a> A data-driven look at where advisors are moving, why they’re making changes, and what it means for your business in 2026.

47 MIN

MAR 19, 2026

When Success Isn’t Enough: Merrill Breakaways Make the Case for Independence

<h3>With Todd Stankiewicz, President & CIO, and Joe Castiglie, COO & CIO – SYKON Capital</h3> <h3>Overview</h3> Todd Stankiewicz and Joe Castiglie of SYKON Capital join Jason Diamond to discuss redefining success after Merrill, launching their own RIA, and how independence allowed them to combine institutional-caliber investing with behavioral insights to deliver peace of mind to clients. <h3>Listen in…</h3> <a href="https://hubs.ly/Q047jhY40" target="_blank" rel="noopener">> Download a transcript of this episode…</a> 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. <h3>Watch…</h3> https://youtu.be/EoWNsiS_-AA <h3>About this episode…</h3> For many advisors, success at a wirehouse is relatively easy to measure by assets, production, and growth. But what happens when those metrics don’t reflect what should come by way of success—that is, a sense of feeling fulfilled? This episode dives into the moment when two successful Merrill advisors realized that growth alone wasn’t the true measure of their success: it was delivering on their vision of providing real peace of mind to their clients. And that required a broader toolkit than the traditional model allowed. So, Todd Stankiewicz and Joe Castiglie decided to launch their own RIA, SYKON Capital, and build a firm grounded in full control from investment philosophy to client experience to culture. With Jason Diamond, Todd and Joe unpack their story, including: <ul> <li>The turning point in their conversations—and when it shifted from “We’re building something successful here,” to “We might want to build something of our own.”</li> <li>Their definition of success—and how it evolved over time.</li> <li>Their introduction to the independent community—and why it changed their perspective.</li> <li>Their unique combination of institutional-caliber investment management and behavioral insight—and why they felt they could only achieve it in an independent model.</li> <li>The operational and leadership perspective—and what they found to be the biggest and most surprising challenges in launching an independent firm.</li> </ul> For advisors who are successful where they are — but quietly wondering if there’s more on the other side — this conversation will challenge how you define control, growth, and impact. Want to learn more about where, why, and how advisors like you are moving? <a href="https://www.diamond-consultants.com/contact-us/">Click to contact</a> us or call 908-879-1002. <h3>Related Resources</h3> <a href="https://www.diamond-consultants.com/tools-and-resources/merrill-advisor-transition-report-2025/">Diamond Consultants Merrill Advisor Transition Report 2025</a> This annual “firm-focused report” takes a closer look at advisor movement to and from Merrill during the first half of 2025. <a href="https://www.diamond-consultants.com/intentional-growth-how-top-advisors-build-businesses-that-last/">Intentional Growth: How Top Advisors Build Businesses That Last</a> Markets can be a tailwind, but building a durable business requires intention and a plan. Here are 5 core practices from the industry’s elite. <a href="https://www.diamond-consultants.com/why-so-many-successful-advisors-feel-stuck/">Why So Many Successful Advisors Feel Stuck</a> They’ve built thriving businesses. Strong production. Loyal clients. Growing teams. So why do so many successful advisors quietly wonder, “Why doesn’t this feel as good as I expected?” This episode tackles the psychology of success and what comes after it. Todd Stankiewicz President, CIO As President and Chief Investment Officer of <a href="https://www.sykoncapital.com/" target="_blank" rel="noopener">SYKON Capital</a>, I lead a firm built around one simple idea: it’s not just about the money, it’s about what your money enables you to do. We combine values-based financial planning with institutional-grade investment management, all grounded in behavioral insights. That means fewer cookie-cutter strategies and more tailored, actionable guidance that meets you where you are, and helps you get where you want to go. Whether you’re navigating a major life transition, looking to scale your wealth, or simply want more clarity and control, we’re here to simplify the complex and deliver advice that actually feels personal. Because at SYKON, we don’t just manage portfolios. We help people live better, more intentional lives. Joseph P. Castiglie III CFA As Chief Operating Officer and Chief Investment Officer of <a href="https://www.sykoncapital.com/" target="_blank" rel="noopener">SYKON Capital</a>, I am responsible for leading the firm’s investment strategy and overseeing day-to-day operational excellence — all with a singular focus: helping clients achieve meaningful, lasting financial outcomes. At SYKON, we work to ensure every element of the client experience is intentional, streamlined, and aligned with each individual’s goals and stage of life. From portfolio design to strategic planning and firm-wide processes, my approach reflects SYKON’s mission to meet clients where they are and guide them with clarity and care. By combining disciplined investment oversight with practical, real-world insight, I help deliver personalized financial strategies that support confident decision-making and long-term success. <h3></h3>

48 MIN

MAR 12, 2026

Edward Jones to Independence: A $1.7B Post-Litigation Comeback Story

<h3>With Dylan Ripley & Todd Vincent – Managing Partners and Financial Planners, Cedarwood Financial Partners</h3> <h3>Overview</h3> Todd Vincent and Dylan Ripley join Mindy Diamond to share the reality of leaving Edward Jones, defending a two-year lawsuit, and still nearly doubling their business. A candid look at resilience, and what really happens when the firm pushes back. <h3>Listen in…</h3> <a href="https://hubs.ly/Q046wmm50" target="_blank" rel="noopener">> Download a transcript of this episode…</a> 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. <h3>Watch…</h3> https://youtu.be/G5-oAHz5kWQ <h3>About this episode…</h3> For many advisors considering change, the concern about legal retaliation from their firm often lingers in the background. But what if you move and that fear comes to fruition? What will it do to your business? And what if – instead of derailing you – it ultimately becomes a catalyst for growth? Every transition comes with some risk and uncertainty—even when you dot every “i” and cross every “t.” And a non-Protocol move adds an extra layer of complexity. This episode’s guests, Todd Vincent and Dylan Ripley, learned all that firsthand. Todd spent nearly 30 years at Edward Jones, and Dylan built his career there over more than a decade, eventually partnering with Todd in a multi-office practice overseeing close to $1B in assets. Over time, they realized they could do more for their clients – and grow the business faster – if they stepped outside the traditional firm model. In exploration, they liked the idea of having a support partner rather than building their own RIA and ultimately opted for Commonwealth Financial Network to launch Cedarwood Financial Partners. The transition itself went smoothly—that is, until they found themselves navigating a lawsuit from Edward Jones that lasted nearly two years. In one of our most candid episodes yet, Todd and Dylan walk through that experience with Mindy Diamond, sharing: <ul> <li>The choice to leave Edward Jones—and what specifically motivated them to consider change.</li> <li>The initial transition—and when they learned they had “poked the bear.”</li> <li>The reality of defending a lawsuit—and how they worked through it.</li> <li>The value of messaging—and how partnering with a marketing firm was a gamechanger.</li> <li>Nearly doubling their assets under management, despite the lawsuit—and what key traits drove their success.</li> </ul> It’s an episode that answers the question on every advisor’s mind, “What happens if the firm sues me?” and does so with candor and grace. Listen in to learn how resilience drives what comes next: how advisors can steady themselves, rebuild momentum, and grow on the other side of a challenge. Want to learn more about where, why, and how advisors like you are moving? <a href="https://www.diamond-consultants.com/contact-us/">Click to contact</a> us or call 908-879-1002. <h3>Related Resources</h3> <a href="https://www.diamond-consultants.com/tools-and-resources/top-tips-for-setting-your-business-up-for-success-years-before-a-move/">Top Tips for Setting Your Business Up for Success Years Before a Move</a> Whether you’re just exploring what’s out there or actively conducting due diligence, these insights will help you position your business and team for success, whenever the time is right. <a href="https://www.diamond-consultants.com/how-to-avoid-the-dreaded-tro-legal-strategies-for-advisors-in-transition/">How to Avoid the Dreaded TRO: Legal Strategies for Advisors in Transition</a> As TROs and lawsuits make headlines, two top attorneys who represented Merrill breakaways OpenArc, share how advisors can minimize risk, protect client relationships, and make a clean move with confidence. Dylan Ripley CEO / Financial Planner After serving his clients at Edward Jones for almost ten years, Dylan Ripley co-founded Cedarwood Financial Partners in 2022 following a tabletop discussion on how he and his partner could better serve their clients, scratching out their vision on a napkin. From that initial napkin chat, he began diligently working to make this vision a reality through extensive research and sweat equity. Dylan holds a Bachelor of Business Management from the Carlos Alvarez School of Business at The University of Texas–San Antonio. After joining Edward Jones, he earned the Accredited Asset Management Specialist certification through the College of Financial Planning. He has a passion to serve others and does so through his service to clients and his community involvement. He is a current member of the Rotary Club of Temple, serving on the board for two years. He’s also a small group leader at his church and active in local Chamber of Commerce events. Most recently he was asked to serve on the advisory board for the Salvation Army of Bell County. Dylan and his wife, Cayleigh, have three children. When he’s not serving his clients or community, he can be found experiencing the world with his family, chasing kiddos around a ball field, golfing, or attending any live concert he can. Todd Vincent Chairman / Financial Planner Todd Vincent co-founded Cedarwood Financial Partners after serving his clients at Edward Jones for twenty-six years. Prior to Edward Jones, Todd served four years in the U.S. Army as a field artillery officer with the 1st Cavalry Division at Fort Hood, Texas. Todd earned his Bachelor of Arts in Chemistry and Economics from Bucknell University in Lewisburg, Pennsylvania. He also holds a Master of Theology (ThM) from Dallas Theological Seminary. Todd and his wife, Stefanie, have three young adult children. As a family, they are active in their community and their church. They are an adventurous family who loves travel and outdoor activities. They reside on a 142–acre game ranch they share with others who desire rest, renewal, and recreation. Todd’s favorite hobbies include camping, hunting, and riding his Harley-Davidson. Todd specializes in finding creative methods to produce retirement income and efficient wealth transfer strategies.

55 MIN

MAR 5, 2026

Private Equity, Scale, and Strategy: Inside Kestra with Its CEO, President, and Private Equity Partner

<h3>With James Poer, CEO Kestra Holdings, John Amore, President Kestra Financial and Fayez Muhtadie, Co-Head of Private Equity at Stone Point Capital</h3> <h3>Overview</h3> Louis Diamond sits down with James Poer (Kestra Holdings), John Amore (Kestra Financial), and Fayez Muhtadie (Stone Point Capital), who share unique vantage points of how scale, private equity, and alignment shape enterprise value in today’s wealth management landscape. <h3>Listen in…</h3> <a href="https://hubs.ly/Q045J2PM0" target="_blank" rel="noopener">> Download a transcript of this episode…</a> 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. <h3>Watch…</h3> https://youtu.be/jqE5vfTRewc <h3>About this episode…</h3> As advisory practices grow larger and more sophisticated, the definition of success is shifting. For many advisors, it’s no longer just about income or payout. It’s about ownership, alignment, and building something that carries real enterprise value. That shift raises important questions, such as: <ul> <li>What does scale actually enable?</li> <li>How should advisors think about capital?</li> <li>And what does alignment really look like between firm leadership, capital providers, and the advisors they serve?</li> </ul> To explore that, we invited three guests who see this from unique vantage points. James Poer, who leads Kestra Holdings, John Amore, who oversees the strategy and execution behind Kestra Financial’s growth, and Fayez Muhtadie, who represents Stone Point Capital, Kestra’s private equity partner. Kestra today operates one of the larger independent wealth management ecosystems in the country, supporting roughly 1,450 advisors and overseeing more than $160B in assets across its broker dealer and RIA platforms. Stone Point, for its part, is a financial services-focused private equity firm with decades of experience investing in banks, asset managers, insurers, and wealth platforms. Together, they represent a scaled, privately backed model that has become increasingly common in our industry. In this episode with Louis Diamond, they unpack what they describe as “multiple ways to win” actually means inside a platform of this size, including: <ul> <li>The Kestra ecosystem—and how the firm has evolved from its founding to spin-off from NPF.</li> <li>The value of private equity ownership—and how common misconceptions impact the positive potential.</li> <li>The importance of cultural alignment—and how it can be preserved as firms grow.</li> <li>Growth and scale—and why James believes this business is not an income game, but a wealth game.</li> <li>Plus, the questions advisors should be asking when assessing their current firm or platform.</li> </ul> If you’re evaluating scale, ownership, or long-term enterprise value in your business, this is a conversation worth hearing. Want to learn more about where, why, and how advisors like you are moving? <a href="https://www.diamond-consultants.com/contact-us/">Click to contact</a> us or call 908-879-1002. <h3>Related Resources</h3> <a href="https://www.diamond-consultants.com/is-scale-a-necessary-evil-in-wealth-management/">Is Scale a Necessary Evil in Wealth Management?</a> Scale can provide a competitive advantage. Yet there might be scenarios in which bigger isn’t always better. <a href="https://www.diamond-consultants.com/tools-and-resources/landscape-at-a-glance/">Wealth Management Landscape at a Glance</a> The wealth management industry offers more options than ever, making it challenging to identify and compare the various models. We created this “at a glance” continuum infographic—to help you navigate the different models and understand how their features stack up. <a href="https://www.diamond-consultants.com/how-to-set-up-your-business-to-maximize-enterprise-value/">How to Set Up Your Business to Maximize Enterprise Value</a> 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. James Poer Chief Executive Officer of Kestra Holdings James Poer is Chief Executive Officer of <a href="https://www.kestraholdings.com/" target="_blank" rel="noopener">Kestra Holdings</a>, an ecosystem of companies empowering high-performing financial advisors to achieve lasting independence. Together, Kestra’s businesses deliver a full end-to-end suite of wealth management solutions for success driven and entrepreneurial-focused financial professionals, including investment solutions, technology services, succession and monetization, insurance and planning services, trust services, and back-office support. James most recently chaired the Financial Services Institute (FSI) Board of Directors after serving for several years on the board. He currently sits on the Board of Advisors for the Langston Wealth Management Center at The University of Texas at Austin’s McComb’s School of Business, serves as Chair of Arden Trust Company’s Board of Directors, and is a member of the Board of Kestra Holdings. A true native Texan and alum of Texas Christian University, James currently resides in Austin, Texas. John Amore President of Kestra Financial As the President of industry-leading wealth management company <a href="https://www.kestrafinancial.com/" target="_blank" rel="noopener">Kestra Financial</a>, John is committed to building out capabilities that empower the success of Kestra’s financial advisors and the financial independence of their clients. Through a comprehensive suite of offerings across portfolio construction, investment products, advisory services, financial planning, retirement plans, alternative investments, and insurance solutions, John and his team are focused on helping Kestra’s advisors thrive in a community of complete wealth managers. Prior to his role as President, John served as Head of Wealth Management for Kestra Financial, leveraging his global leadership experience to ensure every aspect of Kestra’s wealth management offering drives growth and innovation, enabling financial professionals to accomplish their business objectives. John has had the privilege of leading wealth management teams for more than 14 years in the United States, Europe, and Latin America. Prior to joining Kestra Financial, he led global businesses at UBS across financial planning, portfolio construction, estate planning, wealth planning, investment products, and trust solutions. John began his career in management consulting in the financial services sector and earned his MBA/MIA at Columbia University and his BS at Boston College. Fayez Muhtadie CO-HEAD OF PRIVATE EQUITY Fayez is Co-Head of Private Equity at <a href="https://www.stonepoint.com/" target="_blank" rel="noopener">Stone Point Capital</a> and a member of the Investment Committees of the Trident Funds. He has more than 25 years of experience in the private equity and investment banking industries. Fayez helps to lead Stone Point Capital’s global investments in asset & wealth management, business services, employee benefits & human capital management, insurance run-off and lending & markets. Fayez joined Stone Point in 2003.

55 MIN

FEB 26, 2026

The Elevation of Independence: Jim Dickson on Building Real Enterprise Value

<h3>With Jim Dickson — Founding Partner and CEO, Elevation Point</h3> <h3>Overview</h3> Louis Diamond speaks with the founder and CEO of Elevation Point about building a next-generation independent platform focused on ownership, minority capital, data strategy, and scalable, durable advisory firms. <h3>Listen in…</h3> <a href="https://hubs.ly/Q044K93R0" target="_blank" rel="noopener">> Download a transcript of this episode…</a> 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. <h3>Watch…</h3> https://youtu.be/D0-y8Q-DYvg <h3>About this episode…</h3> For decades, advisors operated under the assumption that there was a single path to success—a defined route dominated by the largest and most prominent firms. Over time, the landscape of options expanded, and the independent space matured. With it came a new set of challenges: how to turn the pursuit of freedom and control into something durable, scalable, and ultimately into a true enterprise. Jim Dickson has been thinking through that challenge for most of his career. After two decades at Merrill, Jim went on to found Sanctuary Wealth (a story we shared earlier in this series), where he played a central role in shaping what supportive independence could look like for growing advisory teams. Today, his own journey has entered a new chapter with Elevation Point—a next-generation independent platform focused on helping advisors take business ownership to a new level, with alignment, scalability, and long-term value at the core. In this episode, Jim and Louis Diamond talk about what led Jim to this new chapter, including:<img fetchpriority="high" decoding="async" src="https://www.diamond-consultants.com/wp-content/uploads/2026/02/jim-Dickson-Headshot.png" alt="" width="200" height="250" /> <ul> <li>Elevation Point’s unique value proposition—and how it fills a gap in the landscape.</li> <li>The value of capital—and how Elevation Point adds value along the way.</li> <li>Increasing enterprise value—and what advisors can do to grow without sacrificing control.</li> <li>Ownership and alignment—and why “how much of the pie you actually own” becomes more important as firms grow.</li> <li>Growth and partnership—and what it really means to build a firm intentionally over time.</li> <li>AI, data, and technology—and how each can support better decision-making.</li> </ul> This is a story about yet another evolution in the landscape of options available to advisors—and why the future of independence is less about exits and more about elevation. Want to learn more about where, why, and how advisors like you are moving? <a href="https://www.diamond-consultants.com/contact-us/">Click to contact</a> us or call 908-879-1002. <h3>Related Resources</h3> <a href="https://www.diamond-consultants.com/the-right-way-to-build-a-team/">The Right Way to Build a Team</a> Three strategies to create a foundation designed to foster long-term alignment and growth—and, ultimately, a legacy. <a href="https://www.diamond-consultants.com/tools-and-resources/how-to-maximize-your-career-enterprise-value-maxcev/">MaxCeV™: How to Maximize Your Career Enterprise Value</a> This tool breaks down four key factors that contribute to career enterprise value, offering a framework for advisors to conceptualize and achieve their full potential. <a href="https://www.diamond-consultants.com/an-advisors-guide-to-2026-what-2025-set-in-motion-and-what-comes-next/">An Advisor’s Guide to 2026: What 2025 Set in Motion and What Comes Next</a> As 2026 comes into focus, advisors face a new set of strategic questions. This Industry Update explores the forces reshaping growth, deal structures, and enterprise value—and what those shifts may signal for the new year and beyond. JIM DICKSON FOUNDING PARTNER AND CEO Jim Dickson is a seasoned executive, entrepreneur, private investor, and innovator in wealth management with over four decades of experience in the financial services industry. Renowned for his advocacy for independent financial advisors, Jim is a visionary leader with experience in designing and implementing high-growth strategies for advisory firms. Jim’s deep understanding of the industry landscape positions him as a driving force behind transformative change, empowering advisors and firms to thrive in an ever-evolving marketplace. His growth mindset for RIAs and independence-seeking advisors prioritizes an “advisor-first” approach, tailored to an advisor’s values and long-term vision. Jim co-founded <a href="https://elevationpoint.com/" target="_blank" rel="noopener">Elevation Point</a> with Mark Penske in 2024 to serve as a value-aligned growth partner to independence-focused advisors and RIAs. Jim previously founded and built nationally recognized wealth management firm Sanctuary Wealth, which he launched in 2018. He was the visionary behind Sanctuary Wealth’s Partnered IndependenceSM platform, providing elite advisors with all of the tools, services, and resources needed to fully and effectively serve their clients. Under Jim’s leadership, it grew rapidly into one of the industry’s top RIA firms, with more than $25 billion in assets and 76 partner firms in 28 states by 2023, when he left the firm. Prior to Sanctuary Wealth, Jim spent 20 years as a senior divisional executive building and leading strategy for Merrill Lynch in Indianapolis and Chicago. He began his career as an accountant at Ernst & Young in Indianapolis. Jim received his bachelor’s degree in accounting and finance from Butler University, where he later served on the Board of Trustees for six years. He has been a leadership conference judge for FFA, a national non-profit organization preparing middle and high school students for careers in agricultural science, business, and technology.

48 MIN

The Diamond Podcast for Financial Advisors

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