Podcasts about ADV

Motorcycle traveller Andy Scherer was riding alone through a remote part of Mexico when a series of troubling encounters led to armed roadblocks—and his abduction. In this episode of Deep Trouble, Andy and his daughter Leslie share what happened, the decisions he faced and what other motorcycle travellers can learn from the experience.

Download the “65 Investment Terms You MUST Know to Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/  The markets are stabilizing after weeks of volatility — equities are regaining strength, sector leadership is rotating back toward growth, and earnings continue to surprise to the upside. At the same time, oil prices remain volatile due to geopolitical tensions, inflation is ticking higher again, and consumer sentiment has dropped to record lows, creating a complex and uneven economic backdrop.In this episode of Today's Market Explained, Brian Kasal and Chris Reardon break down the forces driving today's market movements across asset classes, sectors, and corporate earnings. From blockbuster bank earnings at JPMorgan and Goldman Sachs — boosted by a 26% jump in investment banking revenue following SpaceX's massive $1.74 trillion IPO — to high earnings expectations volatility hitting AI infrastructure suppliers like CoreWeave and Nebius, they explore where leadership is moving next. 

With Josh Tomolak, Vice President of Independent Advisor Services, Diamond Consultants Louis Diamond and Josh Tomolak unpack today's IBD vs. RIA landscape, explaining what has changed, where each model excels, and how to determine which path best supports the business you want to build. In Summary The independent wealth management landscape has changed dramatically, making the decision between an independent broker dealer (IBD) and an RIA more nuanced than ever before. Louis Diamond welcomes Diamond Consultants' Vice President of Independent Advisor Services, Josh Tomolak, for a practical discussion of how the independent space has evolved, what truly differentiates the IBD and RIA models today, and how advisors can evaluate which path best aligns with the business they want to build. The Storyline Not long ago, the decision to become independent was relatively straightforward. Advisors either remained with a traditional firm or pursued independence through one of a limited number of models. Today, the conversation is far more complex. Independent broker dealers have significantly expanded their capabilities, offering stronger technology, larger transition packages, greater flexibility, and even pathways to RIA ownership. At the same time, the RIA ecosystem has matured into a sophisticated marketplace supported by multiple custodians, outsourced service providers, institutional capital, and enterprise platforms that rival many of the industry's largest firms. As these developments have unfolded, the traditional distinctions between an IBD and an RIA have become less obvious. Advisors evaluating their options are no longer simply asking whether they should become independent—they're asking which model best supports the clients they serve, the business they envision, and the lifestyle they want to create. In this Industry Update, Louis and Josh unpack the realities behind the IBD vs. RIA decision. They discuss where the two models overlap, where meaningful differences still exist, and why factors like service, technology, economics, operational responsibility, enterprise value, and long-term optionality often matter more than labels alone. Whether you're considering changing independent firms, launching your own RIA, or simply want a better understanding of how the independent landscape has evolved, this conversation provides an objective framework for evaluating today's choices—and preparing for tomorrow's opportunities. Topics Covered Independent Broker Dealer (IBD) vs. RIA models The evolution of supportive independence Technology investments across the independent space Transition support and advisor mobility Capital solutions and recruiting economics Business formation and enterprise value Launching an independent RIA Multi-custodial platforms and open architecture Minority investments and succession planning Future trends shaping advisor independence > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why are already-independent advisors reconsidering their current model? (5:27) Josh explains why service, technology, economics, and growing optionality are causing advisors to reevaluate their existing affiliations. How have independent broker dealers and RIAs become more alike? (19:28) Louis and Josh discuss the growing convergence between the two models and why the distinction is becoming less obvious than many advisors assume. What really separates an IBD from an RIA? (25:04) A practical discussion of autonomy, compliance, flexibility, custody, economics, and advisor experience. What misconceptions keep advisors from launching an RIA? (36:29) Josh outlines the “Four Pillars” of launching an RIA and explains where advisors tend to either overestimate or underestimate the operational realities. Which advisors thrive most in each model? (33:12) The conversation explores why there isn't a universally “better” model—only one that's better aligned with an advisor's goals. What trends are quietly reshaping independence? (42:13) Minority investments, enterprise value, business formation, and changing revenue models may have an even greater impact than advisors realize today. Key Takeaways Independence has evolved from a destination into an ongoing strategic decision. Independent broker dealers have significantly improved technology, transition support, economics, and flexibility. The RIA ecosystem has matured into a highly sophisticated marketplace with broad outsourcing and support options. Choosing between an IBD and an RIA should begin with long-term business objectives—not industry perceptions. Building a valuable business depends more on business structure and scalability than simply growing assets. Advisors considering independence should evaluate models with an open mind rather than relying on outdated assumptions. The next decade will likely bring continued convergence between independent business models. https://youtu.be/jHDVso2TsmQ Quotable Moments “The question is no longer, ‘Do I want to go independent?' The question is, ‘What kind of independence makes the most sense for my clients, business, and goals?'” “Business formation is far more important than assets under management.” “The way you build your business will ultimately determine how valuable that business becomes.” “Everything in an RIA is going to cost you either your time or your money.” FAQs Is there still a meaningful difference between an IBD and an RIA? Yes. While the two models increasingly overlap, they differ in areas such as flexibility, compliance structure, operational responsibility, economics, and control. Why are more independent advisors changing firms today? Improved technology, stronger transition support, evolving economics, and better service models are prompting many advisors to reassess whether their current platform still fits their business. Is launching an RIA easier than it used to be? Yes. Supportive independence, outsourced service providers, and improved custodial resources have significantly reduced many of the historical barriers. Does every entrepreneurial advisor belong in the RIA model? No. The best fit depends on an advisor's appetite for ownership, customization, operational responsibility, and long-term vision. What matters more: assets under management or how the business is built? Josh argues that scalable business formation often has a greater impact on enterprise value than AUM alone. What's the biggest mistake advisors make when evaluating independence? Starting with assumptions instead of objectives. The most effective due diligence begins by defining the business you're trying to build, then identifying the model best suited to support it. Yes. While the two models increasingly overlap, they differ in areas such as flexibility, compliance structure, operational responsibility, economics, and control. Improved technology, stronger transition support, evolving economics, and better service models are prompting many advisors to reassess whether their current platform still fits their business. Yes. Supportive independence, outsourced service providers, and improved custodial resources have significantly reduced many of the historical barriers. No. The best fit depends on an advisor's appetite for ownership, customization, operational responsibility, and long-term vision. Josh argues that scalable business formation often has a greater impact on enterprise value than AUM alone. Starting with assumptions instead of objectives. The most effective due diligence begins by defining the business you're trying to build, then identifying the model best suited to support it. Related Resources IBD vs. RIA Comparison Guide IBD vs. RIA Revisited: Two Independent Pathways for Advisors to Consider 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. View the transcript of this episode… IBD vs. RIA: A Special Industry Update on Independence A conversation with Louis Diamond and Josh Tomolak, Vice President of Independent Advisor Services at Diamond Consultants.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is IBD vs. RIA: A Special Industry Update on Independence. It’s a conversation with Josh Tomolak, our Vice President of Independent Advisor Services. I’m Louis Diamond, and this is the Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at (908) 879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: For a long time, going independent would suggest the destination. Today, it’s often the beginning of a different conversation. As the independent space has matured, advisors have more choices than ever before. Broker-dealers have expanded their capabilities. The RIA ecosystem has become increasingly sophisticated. Capital is more readily available and support models now exist that would’ve been difficult to imagine a decade ago. The result is that many advisors who are already independent are taking a fresh look at whether their current affiliation still aligns with what they’re trying to build. My guest is Josh Tomolak, Vice President of Independent Advisor Services here at Diamond Consultants and our resident expert on independence. Josh spends his days helping advisors evaluate independence in all its forms from independent broker dealers, the fully independent RIAs and everything in between. And his knowledge is critical because the distinction between these models is often blurred. Many broker dealers now offer pathways to greater autonomy while supported independence has made RIA ownership more accessible than ever before. So the question is no longer simply, “Do I want to go independent?” The question is, “What kind of independence makes the most sense for client, business, and goals?” Josh shares what he’s seeing across the landscape, the misconceptions that continue to shape advisor thinking and the factors that matter most when evaluating the next chapter of an independent business. There’s a lot to discuss, so let’s get to it. Josh, thanks for joining me today. Joshua Tomolak: Thanks for having me, Louis. It’s a real privilege to have come. This is a full circle moment for me going from being a student of your podcast, to working alongside you, to being a guest. So I appreciate you having me. Louis Diamond: Amazing. I’m excited for this one too, because you have a fresh and in the weeds perspective that a lot of our guests simply don’t have. So why don’t you start off, you spend your time helping advisors evaluate independence every day. So working with advisors who are already independent, for the most part. And to me, it feels like the independent space has really evolved dramatically over the last decade. I mean, this podcast is really the epicenter of that to prove that out, but give us a little background on your past roles in the space and then we can get into what you’re seeing right now. Joshua Tomolak: Yeah, I’d be happy to. So I took a very non-traditional path into wealth management. I spent a decade as a deep sea Navy diver, and upon completing my service there, I ended up working for TD Ameritrade. And in my role there, I spent about six years doing nothing but helping financial advisors explore the RIA space, whether that was to join or partner with an RIA, sell to an RIA, or in most cases, launch their own RIA. And one of the things that I ultimately came to terms with is it’s just not the right model for everybody. While I’m a huge advocate for it, we would often lose business to the major broker-dealers of the world. And at the time, I really didn’t understand why. In the last six years at Diamond Consultants has been a very interesting purview into what a lot of the broker-dealers have done and are doing to make themselves more RIA-ish and be very compelling to the right advisor. Louis Diamond: Perfect framing. Your background is incredibly germane to the folks you work with. So let’s start off with the softball here. What are you seeing right now? Joshua Tomolak: It’s not so different than the rest of the industry, the wirehouses, the regional firms, things of that nature, that if you took 10 firms, they’re all likely to go different directions, even if they were identical practices. That could be… A third would go from an independent broker-dealer to another independent broker-dealer. Certainly the supported RIA space is growing every day and has created a lot of very fun and unique solutions for advisors, very customized and curated. And then I think there’s still a lot of really great sophisticated teams and individual contributors that are making the decision to go hyper entrepreneurial and launch their own individual RIA. So the movement’s really all over the board from my perspective. Louis Diamond: It does feel like it’s no longer independence is an alternative option or it’s on the fringes. It’s very front and center whether for breakaways, which is a big topic on our podcast, but in general, the infrastructure has become much, much more sophisticated today than ever before. Advisors have way more tools in their toolbox to serve clients, whether in the private markets or through technology. And it’s no longer that if an advisor’s independent, they’re in the minor leagues where they don’t have the same ability to serve clients like they did if they’re at a big bank or a private bank or a wirehouse. Do you agree? Joshua Tomolak: I absolutely agree. And I’m reminded of a question I got one time from a great team that I worked with in New York. They asked me, “Are there really more options than ever before? Because all we see is one firm selling to another.” And I think that’s a really great point. There’s far less broker dealers on the street than there were even five years ago. But for every Commonwealth, for example, that sells to an LPL, up pops three or four really cool private equity-backed, sophisticated RIA platform firms that are built to service their own unique advisor base. Louis Diamond: I think that’s right. Sitting on the sidelines, sitting on top of everything going on in the industry, I feel like capital is always an interesting topic forever. If an advisor wanted to move within the independent world or break away from a big firm to go independent, the only way to get capital was to go to an independent broker dealer. So we still see that, but I feel like today between all these minority acquisition opportunities, we’re seeing firms acquire practices at time of transition, which is somewhat new. There’s debt solutions, recruiting deals are way up for firms that are paying forgivable loans. RIAs now would, in some cases, will pay a forgivable note. What are you seeing there as far as the availability of capital and just deals in general? Joshua Tomolak: It’s a great question and I didn’t want to take the low-hanging fruit, but capital’s been a huge innovation, I guess, in the last five years I’d say. Just to give you rough quotes, please don’t hold me to it, but traditional transition broker-dealer deals were five years ago, 40 to 60% of Trailing Twelve revenue today are somewhere between 90 and 120%, sometimes north of that for the right team. That’s really meaningful money for the team that is thinking about foregoing a wirehouse deal, for example. I’d also say a lot of these firms are getting hyper-creative in how they solve for capital. The minority investment piece that you mentioned is very interesting. We’re seeing a lot of privatized forgivable notes in the RIA space where third-party or private lenders are basically lending the money and the RIA is making the payments on that forgivable note as long as the advisor is affiliated with them. So there’s been a recognition among the RIA space to get away from the, “Oh, they just took a check” type of mantra, and to say, “Look, I understand there are capital needs. These people are taking a risk. We need to solve for that.” So we’ve seen a lot of that in the marketplace. Louis Diamond: Very interesting. I think another thing financially, and then we’ll keep the train moving, that I know I’ve seen, and maybe you can weigh in if you’ve seen the same, is the cost to an advisor or a business owner to join an independent BD or to join an RIA has come way down, probably in part because of Schwab going to zero on trading. That’s been a catalyst. But it feels like we used to say independent BDs were expensive relative to the RIA world. And in some cases, they certainly could be. And if you’re at scale, maybe you can pick up a point or two being in the RIA world versus a BD. But when you have some of these BDs that have a basis point admin fee or no admin fee at a certain size and the payouts I feel like are similar, maybe have gone up a little bit, but it’s more so like the administrator fees, the platform fees, the program fees. Anyone who’s not in that world, it’s like, “What are you talking about?” But basically the way that these broker-dealers make money, it seems like there’s been a pretty big differential in the exchange of value where advisors now get more services, better technology, get more money to join them and get it at a lower cost. Do you agree? Joshua Tomolak: I absolutely agree. I think that maybe that’s one of the larger changes that we’ve seen, and it’s probably one of the benefits from a lot of the industry consolidation on that independent broker-dealer side. The economies of scale of these folks have allowed them to increase their tech spend, increase their service capacities all while offering it to the advisors at a cheaper price. And when I was at TD Ameritrade, one of the biggest pitches was the idea of a 100% payout and you control the fixed expenses, your technology compliance, et cetera. But what’s changed is that broker-dealers are pretty darn comparable on the expenses. All of those admin fees and things you mentioned will still exist, but they’re on a much smaller scale. And I think the question a lot of advisors are asking is, “Am I getting congruent value from my broker-dealer for what I pay for?” And while that answer might’ve been no a couple years ago, today the answer is more often yes. Louis Diamond: Yeah, I would agree. A lot of times we work with advisors who are starting an RIA or affiliating with an RIA or going to a BD and they see how big the deals are in the independent BD world and the payouts are really high and the fees are relatively low. And honestly, it is a hard decision or calculus to make, like, “How does it make sense for me to turn down this extremely lucrative deal when my ongoing economics are going to be somewhat similar in the BD world versus in the RIA space?” I think it’s just an interesting dynamic and we’ll get more into that distinction. One of the stars of the show right here is we’ve seen a ton of advisor movement across the industry. Our annual advisor transition report said that in 2025, over 11,000 experienced advisors changed firms, which is a large number. A lot of those numbers are within the independent world. So advisors who are 1099 through a BD or through an RIA transitioning to another platform or organization or starting an RIA. So why do you think we’re seeing so many advisors reconsider their current firm or their platform or their broker-dealer today than in years past? Joshua Tomolak: It’s a jarring number. 11,000 is definitely a significant amount of advisor movements. To me, it comes down to a few things, but I will say that it’s almost always a conglomeration of pushes and pulls. Pushes being inherent frustrations with your status quo, pulls being the new sexy, shiny things that you see in the marketplace that could be really impactful for your business. To me, it typically comes down to one of three things, at least on the push front, that drives advisors to movement. Service being number one, technology being number two, and economics being number three. And if we were just going to unpack those, I think service being, “Can you call somebody that knows your business, that knows your name? Are you getting the correct answers? Are you being pushed through a phone tree? And even if you’re not doing it, is it taking up a meaningful amount of time of your staff’s free time?” On the technology front, there’s very significant tech spends happening in the industry right now. I think Raymond James and LPL reported, for example, they spent 500 million in 2025 on a tech spend. So advisors are going to the places that are making their life easier. People are looking for a mechanism to really scale their business without having to add staff and a lot of expenses to the bottom line. And technology is just the fastest, most efficient way to do that most times. And then economics, certainly a lot of advisors and teams have built phenomenal businesses and they’ve made a great living without really stressing out about the economics. And they eventually get to a point in their business where what they were giving up as a million dollar producer is far different than what they’re giving up as a $4 million producer. And back to the congruent value, it perhaps stops to make as much sense. Louis Diamond: Well said. I always say when the cost-to-value ratio is out of whack, that’s when advisors sit up and take notice. And not to name names of firms, but there definitely are firms that are more expensive. And even if you look at how much a wirehouse or a Ed Jones advisor paid their firm, it’s like, “What got me here is not necessarily what’s going to get me there.” And while the name on the business card, the resources were incredibly impactful, and I’m so grateful for what my firm, my broker-dealer did for me when I was just starting or when I was smaller. Now the business is bigger, I rely upon different resources or I don’t need the firm as much. So I’d rather plow the cost savings either into income for myself or invest it in areas that are most germane to my business. And it’s usually when that kind of light bulb moment goes off, that’s one of the major pushes that cause advisors to evaluate other options. So I agree with you, those are the major push factors, but then what are the pull factors? What are the major advancements or changes across the independent space that’s causing advisors to say, “Hey, okay, I might have some frustrations, but at the same time, I also need to find something that’s more than marginally better than the firm I’m at. Otherwise, why am I going to go through the hassle, take the risk, et cetera? So what are some of the pull factors that advisors are latching onto today? Joshua Tomolak: Sure. And I might say with one final push factor, there’s a straw that breaks the proverbial camel’s back when you’ve been told for however many years that this change or that change is coming down the pipeline and it never happens. And it translates well into the pull factors is do they do what they say they’re going to do? The talking points really for the pull factors are exactly the same. So the counterpoint to service is perhaps having a direct relationship with the chief compliance officer at a firm or having a dedicated service representative that knows their stuff inside and out and can get you the answer even if they don’t know it off the top of their head. Having the technology to rebalance a household in two clicks instead of two hours. In economics, I think it’s really a transparency of economics. We’ve both worked with some really significant firms that have looked at their P&Ls and said, “where the heck is the money going?” And we’ve looked at the same P&Ls and said, “I have no idea,” because it’s so convoluted. People are happy to pay for good service, good technology, good products, but they just want to know where the money’s coming from. So I think it’s a yin and yang. The same things that they’re the push are often the pull. Louis Diamond: Definitely. I’ll give you a couple other from my perspective. I’ll say first specific to the independent BD world, and then we’ll dive into the RIA, I think it’s a little bit different. But I think some other will say innovations or changes that are causing advisors to really perk up and listen and really make the case to themselves that life will be better at this new organization than the status quo or staying put. We’ve seen major advancements in transition support, whether it’s being able to do a transition without a shred of paper, being able to… I mean, we’ve seen some independent advisors move their entire book within two weeks, which never would’ve happened before. So the firms that I’d say are playing offense, the larger firms that are winning, they have insane headcount around transitions and are always investing in technology, whether now on the AI front or in general. And we’ve seen transitions, they’re never easy. So that’s not a comment to say it’s easy, but a lot of the friction, a lot of the manual work has been taken away, which is massive. You definitely mentioned the significant technology spend. I mean, just the innovations going on across the industry. There’s definitely some firms that are laggards on technology and others that are light years ahead, whether because their tech is more integrated or they’ve built out their platform to be more, we’ll say modular, to plug in different third-party softwares where an advisor can really customize and create their own tech stack. I think there’s been some changes on compliance. It used to be if you’re at an independent BD, you had to be the OSJ by yourself or you had to roll up under an OSJ. But now most BDs offer home office supervision, so a big friction or pain point is taken away. And then I’ll give you a bridge to talk about what we’re seeing on the RIA side. But we’ve also seen, I would say, a real blurring of the lines between what you would traditionally think of as an independent broker dealer versus what was an RIA. So whether it’s an internal pathway where it’s like, “Start off on our independent BD platform, get the big deal, get the support, but then you can ditch that and just use this as a custodian or you can sell the business to us when you want to retire and convert to W2.” So in that vein, transitioning internally to an RIA, give me the same points like, “What are the major advancements or changes you’re seeing on the RIA side today?” Joshua Tomolak: I love that you said that because it’s been one of the most interesting changes to watch. Independent broker dealers becoming more like RIAs, and to your point, being more flexible, having more optionality, a more curated experience in some cases. And in many cases becoming closer to independent broker dealers with some of these massive shops that we’ve seen be created over the last five years that now have hundreds, if not thousands of advisors. To your question on the internal RIA slide as we sometimes call it, this really didn’t exist many places a few years ago. And I think it’s been created as both originally a retention tool in many places for the advisors that were with a major independent broker dealer and they ultimately wanted to have their own ADV and their own RIA. And the firm didn’t want to lose all the assets to an independent custodian so they gave them the green light to… And it’s ultimately became a sales tool in many cases. Just to use a couple of examples across the industry, I mean, Raymond James has Raymond James Custody Services, which has attracted a lot of really sophisticated teams. I know Wells Fargo Finance done something similar and even the counterparts over at Cetera and Osaic are trying to do the same thing. So it’s a recognition in my view that we want to keep the best talent possible. And if these folks are ultimately going to go RIA anyway, it’s less about the money and more about the flexibility and control that it offers them. So what can we do to keep those folks on board? And rightfully so, a lot of senior management of these firms have said, “Let’s not lose these teams. It’s going to be a lower margin business for us, but at the rate that they’re growing, it’s going to pay off in the long run.” Louis Diamond: Well said. RIAs are now more mainstream. And some of these RIAs, they’re either resembling independent BDs or I would even go so far to say the valuations that are even publicly available on some RIAs is definitely having people take notice. I mean, Cerity Partners recently raised capital at an over $8 billion reported valuation. Crescent was well over a billion. Firms like Mariner, Creative Planning, Mercer, Wealth Enhancement Group, and there’s many that I’m missing, are all worth a couple billion dollars or more and growing. Do you think that’s had an impact on the legitimacy or the staying power of the RIA model? Joshua Tomolak: Oh, absolutely. There’s no doubt about it. I mean, those groups that you mentioned and many more are winning some of the biggest teams on the street. I mean, if you pull up a run-of-the-mill advisor hub article, for example, you’ll see as many of those RIAs win significant businesses as you will their broker-dealer counterparts, partially in my opinion, due to the massive valuations these firms are fetching. And it’s much more of a partnership in the sense that joining a Crescent or a Wealth Enhancement Group, as you mentioned, you’re a part of a boutique group of maybe a couple of hundred very sophisticated high-producing advisors all playing under the same banner, all rowing in the same direction, and that creates substantial growth. Louis Diamond: Exactly right. I think two other things to me that’s driving the legitimacy or the growth of the RIA segment, there’s so many different outsourcing solutions that have popped up, whether it’s more of a… We’ll say a bundled or a package outsourcing solution through firms like Dynasty and Sanctuary. LPL has done a ton with having a shared services outsourcing model. So you have those. But you also have, I mean, probably 10 different firms I could think of that can be an outsourced chief compliance officer. You have tons of marketing agencies that specialize in helping RIAs. You have all these FinTechs popping up to support the RIA space. Really, it’s like anything and everything can be outsourced now. And even the big Wall Street banks like UBS, Merrill, et cetera, they’re attempting to sell and distribute product into the RIA space. Venture funds, private equity funds, anyone you talk to is trying to get a piece of the RIA space, which means there’s more product and platform availability than ever before. And I think it’s massive because one, it’s a catalyst for teams who say, “I love everything about the RIA world. I just don’t want to do it on my own,” or, “I don’t know where to start.” But also it means that they can look their clients in the eye and say, “Hey, not only do I have the same stuff that I had for you at XYZ firm, I can actually do more for you.” And even if you look at what the custodians are doing on the lending side now, Schwab owning a bank is massive and being able to facilitate mortgages, securities-backed loans, things that didn’t really exist in the past. I think it’s a very exciting time for advisors either that are independent or are considering the independent space because you have all these choices and it’s really like, “Choose your own adventure. Give me your top five things you want.” I’m sure it exists and we can find it and make it happen. And I don’t think we’d have the same confidence in that statement 5, 7, 10 years ago. Joshua Tomolak: I couldn’t agree more. That’s such a huge development is the marketplace of third party vendors in any kind of capitalism environment. There’s problems that people encounter and there’s really smart people that are trying to make a lot of money that go to market to solve them. And we’ve seen a ton of that over the last few years. Louis Diamond: Exactly right. Yeah, it’s like also… If an advisor looks around and says, “Hey, this is what I want,” and it doesn’t exist, oftentimes that’s a light bulb moment to be like, “Okay, I’ll go build it. I’ll do it on my own.” Whether it was Stewart Partners when they launched a number of years ago or Hightower, Dynasty, et cetera. They were all started by people that said, “Hey, I see a big gap in the ecosystem. Let’s create a business and raise capital to go solve it and then deliver this service to other like-minded advisors or business owners.” Honestly, it’s a treat to be able to watch all this happen in real time. We probably should have laid the groundwork with this next question, but I think it’s an important one. What’s the difference between a independent broker-dealer and an RIA? Really basic foundational. It sounds like the lines are blurred. There’s probably a lot of similarities. Advisors are successful in both. It’s not like one’s better than the other. How would you explain the differences, if a client of ours asked, “What’s the difference between an independent broker-dealer and IBD versus an RIA”? Joshua Tomolak: Get into the core of it. Again, the lines are blurred, and I’ll stay very high level on the strategic differences, but I like to use this example. I drive a Toyota Tundra. Really like the truck, gets me from A to B. Now, if I were getting to a point where I wanted a new vehicle, if I were to go get another Toyota Tundra because I really like a lot of aspects of it, but I want the one with the bigger screen and the bigger tires and the power seats, and I have rolled down windows because I have a fear of drowning. But if I want a lot of the bells and whistles, but I want to keep the foundation, that’s what I align to a independent broker-dealer to independent broker-dealer. You like the foundation of everything all under one roof. You like a lot of the resources, but you have some meaningful frustrations and you want to see if another provider in the market can solve for those or you can upgrade. If I instead, Louis, decided that I wanted a sports car or a Jeep Wrangler or something, I would be looking at a different category altogether. That’s how I articulate the platform space. They provide the same services and support in many cases that an independent broker-dealer does, think of marketing and a tech stack and regulatory oversight and a fellowship in a community, but they’re built on an RIA TC registered chassis. They’re typically far more customized so you can shop the street to get a lot more of the things that you like, though you are walking away from maybe some of the things that you’ve liked in the independent broker-dealer model. So I guess that’s the highest level I might explain it, just a little bit more minutia in any broker-dealer is going to be a FINRA registered, FINRA member broker-dealer. So they’re subject to the FINRA rules, which basically means it’s the compliance interpretation of those rules that they have to follow. So LPL’s rules may be slightly different than Cetera’s than Ameriprise’s because it’s based on their interpretations of the rules. In the RIA space, everybody really operates on the fiduciary standard. So it’s just a different lens that from a compliance standpoint, business is looked at. And a lot of people would make the argument that it’s just easier to get things done when you’re looking at something from that lens. I might’ve gone too compliance nerd on you there, but I’d be curious what you think some of the major differences are. Louis Diamond: Yeah, I think that’s right. I mean, it sounds like if you’re in the RIA world in some capacity that you as the advisor or business owner are going to have a little bit more control and autonomy and flexibility. One, do you think that’s true? And what are the reasons why that is? Is it platform? Is it strictly just compliance is easier? What are the different ways that an RIA would have more or less flexibility than someone who’s with an independent BD? Joshua Tomolak: Yeah, I think it’s overwhelmingly true, but it certainly depends on your business. Within most RIA platforms, you’re going to be one of a couple dozen, maybe a couple hundred, where you’re going to have people within that firm that really know your business. So the experience in getting things done is much less about, “Can I do this,” or, “Can I not do this?” And it’s, “Louis, I understand you asked for this. We’re going to run into these issues, but let’s figure out how to get to yes.” So it’s far more curated by people that are not operating on black and white rules and can actually figure out how to get to yes for your business. The other thing I would say is that most significant RIA platforms have multiple custodial options. So many times you’ll see as few as two or as many as five. So if an advisor or a team is trying to bring on a new piece of business or do something creative, that might be something they can use a different custodial relationship to accomplish. It might be something that Goldman Sachs does really well but is in its infancy at Fidelity, or it might be international business that’s approved on Pershing’s platform but not Schwab’s platform. So the RIA partner that you’re with can really look at those custodians agnostically and say, “What’s the best home for this business? What’s the best way to get this done for Louis?” There’s a couple examples of where I see the flexibility in practice. Louis Diamond: Yeah, I think one more too would be the concept of being able to shop the street. I’ve heard it described as becoming a buy-side advocate for your clients versus being a professional seller. So meaning, if I’m affiliated with an RIA or I’m operating my own RIA, there’s no selling away like there is at a wirehouse or at certain BDs. So if I have a client who’s trying to get a $10 million loan for a new building that they’re breaking ground on, if I’m at UBS, Merrill, Morgan Stanley, captive to a BD, I can go to my firm and say, “Hey, this $10 million loan, here it is. What are the terms? What are the rates? Will you take on this business?” And the firm will say, “Yes. No. Yes, here are the terms. Here’s the caveats, et cetera.” But it’s a very closed market process and an advisor has to live and die by what their firm says. Versus in the RIA world, it’s, “Okay, I have relationships with nine different banks and I can go to these different banks and private credit funds and whoever and really create either an option process for my client or really just help them in a fully agnostic open way.” And we see the same thing when it comes to alternative investments. No one at a wirehouse, let’s say, is complaining that they don’t have enough alts that they can offer clients. Those firms have done an amazing job with really boiling the ocean and having tons and tons of options for private investments, hedge funds, et cetera. But if you’re in the RIA world, you can take it to the next level and say, “Hey, this $3 million startup company that my friend is starting, I’m going to help them raise capital,” or, “My client wants to get a syndicate of investors together to have a direct investment into a qualified opportunity zone fund that they’re starting. Let’s do it when we can advise on it.” So it really expands what an advisor is able to do on behalf of clients. Like to me, that’s the most interesting or exciting part of the RIA model. You can get some of that within the BD world, but to me, when an advisor’s business becomes more sophisticated as far as what their end client’s needs are, it tends to translate better to the RIA world than the BD world. Not to say there aren’t ultra-high net worth focused advisors at BDs, but because of that additional flexibility, autonomy, customization, et cetera, that speaks more RIA. So again, absolutely not down at all on the independent BDs because I think there’s a massive home for them. Josh, let me turn it back to you. I’m rambling now. Give me the pitch for an independent BD. What are the things that are misperceptions that people have? What are the advantages that an independent broker dealer like an LPL or a RayJ or a Cetera have over RIAs or over other models in general? Joshua Tomolak: Absolutely. And I’d say I’ve learned more over the last six years from some of your ramblings than most people learn in an MBA course, so keep doing what you’re doing. But it’s funny being in this position now, having spent so much time sort of selling against the IBD model within TD Ameritrade, but what I’ve learned is it’s a good home for everybody. And a lot of times the advisors that they’re entrepreneurial enough where they like having their name on the door, but they’re not so entrepreneurial where they want to build everything out themselves, that’s where the independent broker dealers absolutely kill it. Their economics have gotten to a point where they’re really competitive. They offer transition capital that isn’t even going to be comparable in the RIA space unless you’re selling a minority share of your business. And you mentioned LPL, or we could really list all of the major ones, there’s not a department that they don’t have. It could be as nuance as finding 403(b) payroll slots or it could be as mainstream as fixed income or setting up events. There are all kinds of really neat departments that these all under one roof independent broker dealers have invested in. And a lot of times they make an effort to make you very much aware of all of the support because most people don’t use it. So I would say for the advisors that are looking to get their improved Toyota Tundra, then you can get probably 70 or 80% of what you want within the independent broker-dealer world. And you can also keep 20 or 30% of the stuff, maybe more that you really liked at your previous firm. So I think that’s where it really shines. I sometimes call it an incremental change rather than a transformational change. But for many advisors, incremental is really good enough if you get to keep the familiarity of how you’ve been doing business for the last 20-some years, but you’re able to get net improvement on the things that were really bothering you. Louis Diamond: Well said. Something that I’ve seen that’s been… I guess this could be either pro or con depending upon the advisor, but with some broker dealers, letting an advisor co-brand with them or really having a real consumer-facing brand, whether it’s, “I’m a franchise owner with Ameriprise,” or, “I’m independent through Raymond James,” or, “Running my own practice through Wells Fargo FiNet,” or, “I’m independent with Northwestern Mutual.” There’s definitely some brand cache or brand familiarity with some of those firms that may or may not be the same if you’re in the RIA world. So I would agree there’s a lot to like about the independent BD world and there’s a fit for people that is absolutely better with independent BDs than on the RIA side. Even if some people would say RIA is better, we’re cleaner, I wouldn’t say that. To me, it’s all about what an advisor’s goals are and then matching that up with what these firms do. And there’s never a perfect option. I jokingly say, “If there was a perfect firm, we wouldn’t be in business.” Every firm has their advantages or disadvantages. And depending upon where an advisor’s coming from, their style of business, their pain points, that’ll match up really well with on firm or one type of firm or one model than the other. Let’s pivot a little bit to the RIA world. A lot of your comments have been more about advisors affiliating or joining RIAs, this whole supportive version of independence concept. But what about advisors who want to go and start their own RIA? Either they’re leaving a captive firm and taking the entrepreneurial route and starting their own firm, or they’re leaving an independent BD to go start their own RIA. What do you see as some of the biggest misconceptions that advisors have about that move? Joshua Tomolak: That’s probably my favorite topic because there are the most misconceptions I think in this space. Louis Diamond: I’d agree. Joshua Tomolak: And I would say there’s 9 out of 10 conversations that I have with advisors and teams, they start off with the launching an RIA in mind or at least RIA curious and they want to understand what’s out there. And probably less than half the time do these folks end up actually launching their own RIA, which is okay because the ones that do are massively successful and they know they’re dang sure that’s exactly what they want to do. I think it gets a little bit romanticized sometimes that they’ll say, “Oh, I’ll just give Schwab a call,” or, “I’ll just give the custodian a call,” as if they were shopping independent broker dealers. That’s fine. You can do that and they will help you, but there’s quite a bit more to think about. And it’s not, in my opinion, the same as evaluating independent broker dealers. If it’s all right, I was taught the four pillars of the RIA model. I can go through that with you really quickly. So the way to think about the RIA space is in four pieces. And shout out to a friend, Eli Suarez, that taught me this years ago. The first pillar… Thinking of four pillars on a bar stool, if you will. The first one being administration. And this is your compliance, this is setting up your ADV, your LLC, all of your business formation documents. The second piece being technology, what do you actually want to use? Because the benefits of the broker-dealer world and the supported independent world is they’ve already built it for you. They’ve already paid for it and scraped their knees building it. In this case, you have to. And for some people, that’s really exciting to source financial planning software and portfolio management software and your CRM and tax software, et cetera. For some people, it just sounds like a huge headache. The third pillar being custodians. I have them third because you want to make sure that the right custodian can integrate properly with the technology that you’ve sourced that you’re passionate about. And then ultimately transition. What does a transition really look like? What are my legal and regulatory requirements? How does this work? What are the timelines? Things of that nature. So I guess I would say in closing that if those four things are things that you really want to own, then you’re in a really good position to consider an RIA launch. What do you think, Louis? Louis Diamond: I think that’s a great framework to break it down. Not just be like, “Okay, I can tolerate that,” or, “My team can do it,” but I think you have to be pretty excited about rolling up your sleeves and customizing and doing it yourself because in our experience, there’s a nominal differential between the economics of running your own RIA versus affiliating with an RIA or going to an independent BD. All the extra work and responsibility, you’re not really going to make it up, at least on the front end, on a higher net payout. So it has to be more about what the model means to you and having a vision that you don’t think anyone else can accomplish other than yourself. And looking at that crazy ever-expanding Michael Kitces’ FinTech map and there’s 500 different logos on it and being like, “Yes, that’s what I want. I want to go through this. I want to pick the seven pieces of my tech stack that work for me,” rather than getting, “Here’s the tech stack, take a demo, you like it, you don’t like it, take it or leave it.” To me, the two biggest misconceptions people have about the RIA world is one, “I’m going to have to be a full-time chief compliance officer,” and just that compliance is this boogeyman, this terrible, scary thing. In some ways it is. But the reality is most, especially startup RIAs will fully outsource compliance to a firm or they’ll hire a compliance consultant or firms that are big enough even will hire a CCO or repurpose someone on their team to be CCO. But compliance is much more streamlined and simpler than BD compliance. And ultimately, it’s compliance that’s being built for your business rather than compliance that’s being built for a publicly traded multinational company that supports 20,000 financial advisors. So I think compliance is always a big misconception. It’s definitely what a lot of firms will pry upon when they’re saying like, “Oh, you’re going to own all the legal and regulatory requirements. You could, but it’s definitely not a requirement.” And then I think another one is folks sometimes underestimate and overestimate the operational burden and how much work it is to start an RIA. Sometimes people just… They’re perfect for the RIA world, that’s their goal, but they get stopped in their tracks. They don’t really know what to do. But what we’ve seen, we said it earlier with so many different outsourcing solutions and different service providers that have popped up, if you have the fire in your belly to go build something, it doesn’t mean you’re doing it by yourself. I mean, that’s what firms like ours do. The custodians are very helpful. On the flip side though, I have seen advisors chasing payouts say, “Hey, I’m just going to go start an RIA because I want to make another 1 to 3%,” or whatever it comes to and they drastically underestimate what it really takes to build a successful firm. Joshua Tomolak: Exactly right. I think that’s my favorite one, Louis, overestimating and estimating the operational burden there is you could have the same conversation with two teams and it can go the completely different direction. Louis Diamond: Josh, let’s wrap here. I got one more question for you that I think is an exciting one, but give me three key trends or storylines that most people don’t know about or aren’t talking about that you’re passionate about or that you’re sharing with advisors or counseling today. Joshua Tomolak: Sure. This is the free advice portion. And I’ll tell you what, Louis, if it’s all right with you, I’ll give you two and I would love to hear one from you as well. The first one I’ve seen in both the independent broker-dealer and RIA space is the minority investor concept. A lot of folks will talk about the idea of taking chips off a table and starting to partially monetize your business. I think that’s all important, but what I’ve found is that a lot of advisors really want their partner, whether it’s an RIA broker dealer to help them grow. And that could be with M&A opportunities, that could be with traditional recruitment of advisors, that could be building a business plan. But the minority investment part really helps accelerate that for a lot of businesses because all of a sudden, not only are you cashing out a small part of your business, but you’ve just created an ally with the parent entity, it is now much more likely to help you grow in that capacity because they’re insulated from it and they profit when you profit. So I think it’s easy to be shortsighted and say, “Well, my equity’s going to keep growing. Why would I sell you a piece of this?” But I counsel folks often to really think about what that long-term strategic partnership is and making somebody a real equity partner rather than just a vendor that provides you with technology and regulatory coverage. The other one I’d say is that… And this one’s really important to me, that business formation is far more important than your assets under management. Said a different way, the way you build your business is going to make your business far more valuable than the number of dollars underneath your name. And what I mean by that is, just to use an example, a sophisticated, well-built, centralized, scalable and repeatable business, whether it’s an RIA with a broker-dealer that is going to fetch a far higher M&A multiple than a OSJ that’s five times the size that just has a bunch of 1099 independent advisors underneath the umbrella. What we’ve seen in the M&A space is that if you’re going to shell out 50, 60, $80 million for somebody’s business, you want to know that you have this business for the long term. So I would certainly counsel people that have been around maybe far longer than me to take a look at how you’re building this and put together a business plan on what those next 10 years should look like and not necessarily fall into the trap where your only revenue source is the override that you receive from a firm and then you in turn pay to the advisors on your team. Louis Diamond: Well said. I really like that line. We’d probably do a whole episode on what are the tips and tricks for building a business with the end in mind? Like the Covey quote, “Begin with the end in mind.” Transitions are like… They’re a bear. I mean, there’s no way to sugarcoat it. Advisors, when they hear transition, if you ask them, “Don’t think about it, give me your reaction.” “Terrible, risky, a lot of work. I’ll never do it again. My friend did it and it was terrible. What if my clients don’t come?” It’s all these negative emotions. And in many cases, I don’t blame an advisor because it is a big act. But to me, if someone is weighing making a transition, whether a wholesale business model change going from being an employee to being independent, going from being an advisor at an independent BD to starting an RIA, or even going independent BD to independent BD, it’s an opportunity if you rise to the occasion to build with this next act with intentionality. So whether it’s restructuring compensation for your team, converting people from 1099 to W2, putting in place new workflows, changing how investments, instead of it being each individual advisor doing investments to more of a centralized model, cleaning up workflows, really investing in data, investing in AI. It’s something that I think, again, we can have a whole episode on it, but I think it’s a great one. Build the business the right way. And obviously, businesses that are larger, theoretically, sell for more, but we’ve certainly seen businesses that are half the size of a larger one sell for a similar amount or more because they did all the right things and the larger one did the things that really turn off a buyer or detract from a valuation. Let me give you one more and tell me if you agree, but I think we’re in this moment when Altruist, the upstart, a new kid on the block custodian, they launched a basically tokenization of cash in a way to automatically agentically source or sort cash to the highest yielding money market. And you’re like, “This is fricking wonky. Louis, why are you telling us this?” I think this is an important one just to keep a watchful eye on. I have no idea how this is going to shake out, but really the biggest way that independent BDs or even custodians like Schwab and Fidelity really make money, it’s not on their overrides from practices or the admin fee or the custody fee. It’s really on net interest margin. So how much the broker-dealer or the firm is making on client cash and brokerage accounts relative to what they’re paying out the client. It’s essentially like free margin to these firms. And this concept, I think, has massive potential for disruption for the business model. Again, I don’t know what it’s going to look like, whether it means platform fees that are instituted at all these firms, whether it means certain models would be more beneficial than others, whether it means nothing’s going to change, which is probably the right answer given this industry. But it’s something to keep a watchful eye on just if your firm institutes a new platform fee or there’s a fundamental way in which your firm can no longer make money. How are they going to make it up? Are they now going to be uncompetitive? They’re not going to have as much scale or profits to invest in the platform. Is it going to cause even more consolidation in the industry? So to me, that’s the one pretty under the radar, pretty wonky storyline that I don’t think enough people are talking about, but has the biggest possibility for disruption across their space than anything I’ve seen in a while. Joshua Tomolak: Sure. That’s the whole iceberg. Not a lot of people are talking about it. It’s not poking out of the ocean, but it’s going to be continuously brought up. I think it’s a question that a lot of advisors are going to have to ask these firms. And at the end of the day, the firms aren’t the bad guys. They have to make money too to provide a quality product. So where the money comes from matters. Louis Diamond: Exactly. Josh, this has been awesome. I learned a lot talking with you and just having your objective consulting hat on what I think are really the differences between IBD and RIA and some of the key trends and storylines to watch has been instrumental. I’ll also give a plug that on our website and we’ll link to it in the show notes, we have a really helpful one-page reference guide going through the differences between independent BDs or IBDs and RIAs. So feel free to click on it. We’ll make sure it gets in your inbox. Josh, thanks again for joining us today. Joshua Tomolak: Yeah, thanks for having me, Louis. It was a pleasure. Mindy Diamond: As a financial advisor, you hold yourself to the highest standards of integrity, honesty, and credibility. You are successful because you take your professional responsibilities seriously and are dedicated to your clients. But are you living your best business life? Are your goals aligned with your firms or could a better option exist? Should I stay or Should I Go? is a book written with you in mind. It’s a self-guided journey that walks you through the key steps that we take with our advisor clients. This strategic thought process and roadmap to professional self-discovery is designed to help you ask the right questions and think critically and objectively whether you’re considering change or not. Learn how to get your copy at diamond-consultants.com/thebook. IBD vs. RIA: A Special Industry Update on Independence A conversation with Louis Diamond and Josh Tomolak, Vice President of Independent Advisor Services at Diamond Consultants.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is IBD vs. RIA: A Special Industry Update on Independence. It’s a conversation with Josh Tomolak, our Vice President of Independent Advisor Services. I’m Louis Diamond, and this is the Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at (908) 879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: For a long time, going independent would suggest the destination. Today, it’s often the beginning of a different conversation. As the independent space has matured, advisors have more choices than ever before. Broker-dealers have expanded their capabilities. The RIA ecosystem has become increasingly sophisticated. Capital is more readily available and support models now exist that would’ve been difficult to imagine a decade ago. The result is that many advisors who are already independent are taking a fresh look at whether their current affiliation still aligns with what they’re trying to build. My guest is Josh Tomolak, Vice President of Independent Advisor Services here at Diamond Consultants and our resident expert on independence. Josh spends his days helping advisors evaluate independence in all its forms from independent broker dealers, the fully independent RIAs and everything in between. And his knowledge is critical because the distinction between these models is often blurred. Many broker dealers now offer pathways to greater autonomy while supported independence has made RIA ownership more accessible than ever before. So the question is no longer simply, “Do I want to go independent?” The question is, “What kind of independence makes the most sense for client, business, and go

Adv. Annamarie van der Merwe – uitvoerende voorsitter: FluidRock Governance Volg RSG Geldsake op Twitter

Want to check out all the amazing ADV gear? Click here ⬇️https://www.advtennis.pro/JONATHAN705381:15 What he learned from Ty Tucker4:48 Handling the important points6:20 NCAA doubles vs US Open doubles12:03 Shifting momentum16:48 Doubles "free agency"21:27 How he allocated practice time27:24 Strengths vs weaknesses

When the ADV competition you expect to happen doesn't, you can either cry about it or start up your own version. Lana Tsurikova and Chip McMann chose the latter and thus, the inaugural Adventure Crown kicks off in August 2026. The news features a longer segment on what's going on with Harley and Indian and some short EV snippets. Chasing the Horizon is brought to you by Wunderlich America and the BMW Motorcycle Owners of America. Get all the links for our guest and the news on the show notes page on chasingthehorizon.us.

Why a motorcycle first aid kit should be part of your riding gear — and why the kit itself is only part of being prepared.A motorcycle first aid kit often gets treated like an extra — something for remote trips, cautious riders, or people with medical training. But if riding motorcycles carries risk, then first aid should be part of the preparation. Not just a small pouch of bandages, but a kit that makes sense for motorcycling, the places we ride, and the situations we may come across.

Nosipho Radebe speaks to SACAP Registrar, Adv. Toto FiduliSee omnystudio.com/listener for privacy information.

Download the “65 Investment Terms You MUST Know to Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/  In this episode of Today's Market Explained, Brian Kasal and Chris Reardon break down the forces driving today's market movements across asset classes, sectors, and corporate earnings. From blockbuster bank earnings at JPMorgan and Goldman Sachs — boosted by a 26% jump in investment banking revenue following SpaceX's massive $1.74 trillion IPO — to high earnings expectations volatility hitting AI infrastructure suppliers like CoreWeave and Nebius, they explore where leadership is moving next.Valuable Insights You'll Learn: Asset Class Leadership: Why international equities (304 pts) and domestic equities (301 pts) remain neck-and-neck at the top.  Commodity Surge: How oil price rebounds and Iran geopolitical risks drove a 24-point jump in commodities.  Sector Shakeup: Why energy (up 29.39%) retook the top sector spot from technology (up 24.79%).  Rotating Opportunities: Early technical and fundamental turnaround signals in healthcare, financials, and consumer discretionary. Follow us here to see short videos of all our best investing tips:TikTok: https://www.tiktok.com/@todaysmarketexplained  Instagram: https://www.instagram.com/TodaysMarketExplainedYouTube: https://www.youtube.com/@todaysmarketexplained Facebook: https://www.facebook.com/TodaysMarketExplainedTwitter: https://twitter.com/PodcastTMEWebsite: https://todaysmarketexplained.com/ DISCLAIMER:This podcast is provided by FourStar Wealth Advisors for the general public and general information purposes only. This content is not considered to be an offer to buy or sell any securities or investments. Investing involves the risk of loss and an investor should be prepared to bear potential losses. Investment should only be made after thorough review with your investment advisor considering all factors including personal goals, needs and risk tolerance. FourStar is an SEC registered investment advisor that maintains a principal business in the state of Illinois. The firm may only transact business in states in which it has filed or qualifies for a corresponding exemption from such requirements. For information about FourStar's registration status and business operations please consult the firm's form ADV disclosure documents, the most recent versions of which are available on the SEC investment advisory public disclosure website at www.adviserinfo.sec.gov 

Episode #AnimalWelfareIndonesia dari podcast #KesejahteraanHewan ini adalah CARRIAGE HORSES IN INDONESIA: WELFARE CHALLENGES AND POLICY PERSPECTIVES IN INDONESIA (PART 2)adalah Adv. Adrian Hane, S.H, MBA (Director & Co-Founder LBH Animal Lawyer Indonesia) & Adv. Amelia Efiliana, S.H (Secretary & Manager Kasus LBH Animal Lawyer Indonesia) membahas hal ini.video webinar lengkap nya bisa kamu temukan di YouTube AnimalWelfareIndonesia:https://youtu.be/5nWj-fQTNjc?si=QKhVq-frT9gn817gYuk dengarkan Podcast #KesejahteraanHewan ini!dan juga ikuti kegiatan program Peduli Kuda Pekerja di instagram untuk lebih lengkapnya!Btw, semua podcast dan materi edukasi bisa dikunjungi di website www.animalwelfare.id dan email kami di education@animalwelfare.id, instagram kami di @animalwelfare_id.Sumber : Animal Welfare Indonesia Conference 2025 | Voice over opening & Closing: Eria Michelletti | Audio Editor: Tiwi

Nearly 50 years after a magazine story planted the dream of crossing Australia by motorcycle, Allan Waldon finally set out to make it happen. Riding unsupported with his mate Adam on two small motorcycles, he faced more than 6,000 kilometres of remote desert, flooded roads, deep gravel, fierce winds and slippery red clay. This is the story of two riders crossing a continent—and one man proving it's never too late to pursue a lifelong dream.

Many years before we would get our first Fire Emblem game in America on Game Boy Advance, we would get this two-episode OAV in America from ADV. Andre and Steve explore this partial game adaption, this week at the Summer RPG Anime Festival. Watch the anime with us right here Fine Time on Bluesky: @fineti.me Andre on Bluesky: @pizzadinosaur.fineti.me Steve on Bluesky: @monotonegent.fineti.me

In a world of GPS tracks and turn-by-turn directions, motorcycle orienteering brings riders back to paper maps, route choices, checkpoints, and discovery. Andrei Tuch explains how moto-orienteering works in Estonia, and why finding your own way can still be part of the adventure.

Do you want to work with me one on one to improve your tennis game? Click here to check out the free trial for my online academy: https://www.skool.com/stokke-doubles-academy/aboutWant to check out everything ADV has to offer? https://www.advtennis.pro/JONATHAN70538

Download the “65 Investment Terms You MUST Know to Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/  The market continues to push higher, but beneath the surface, leadership is changing rapidly. Commodities have suffered a sharp pullback, healthcare is quietly staging a comeback, semiconductors continue to dominate the AI narrative, and expectations for interest rate cuts are fading as inflation proves more persistent than many expected.In this episode of Today's Market Explained, Brian Kasal and Chris Reardon break down the latest market rotation, why international equities continue to outperform, and how stronger-than-expected economic data is reshaping the Federal Reserve's outlook. They also examine what falling oil prices, resilient employment, and record AI investment spending mean for investors heading into the second half of the year.Valuable Insights You'll Learn:Why commodities experienced one of their sharpest pullbacks of the yearHow semiconductors—not the Mag Seven—are driving today's AI rallyWhy the Federal Reserve is becoming less likely to cut interest ratesWhat stronger-than-expected employment numbers reveal about the economyFollow us here to see short videos of all our best investing tips:TikTok: https://www.tiktok.com/@todaysmarketexplained  Instagram: https://www.instagram.com/TodaysMarketExplainedYouTube: https://www.youtube.com/@todaysmarketexplained Facebook: https://www.facebook.com/TodaysMarketExplainedTwitter: https://twitter.com/PodcastTMEWebsite: https://todaysmarketexplained.com/ DISCLAIMER:This podcast is provided by FourStar Wealth Advisors for the general public and general information purposes only. This content is not considered to be an offer to buy or sell any securities or investments. Investing involves the risk of loss and an investor should be prepared to bear potential losses. Investment should only be made after thorough review with your investment advisor considering all factors including personal goals, needs and risk tolerance. FourStar is an SEC registered investment advisor that maintains a principal business in the state of Illinois. The firm may only transact business in states in which it has filed or qualifies for a corresponding exemption from such requirements. For information about FourStar's registration status and business operations please consult the firm's form ADV disclosure documents, the most recent versions of which are available on the SEC investment advisory public disclosure website at www.adviserinfo.sec.gov 

Balance on a motorcycle is often treated like something a rider either has or does not have, but low-speed motorcycle balance is a skill that can be learned, practiced, and refined. Clinton Smout from SMART Performance Centre and host, Jim Martin, examine what happens when the bike slows down, how riders manage balance through steering, peg weighting, body position, acceleration, and foot placement, and what putting a foot down can reveal about motorcycle control, confidence, and riding skill.

Dopo sei anni e 444 episodi, ci prendiamo una pausa.Non sappiamo quando torneremo e non sappiamo se torneremo, ma invece di farla drammatica, abbiamo registrato una puntata come tutte le altre: sette link per l'estate, due libri dalla community, un asteroide che vale più del PIL mondiale, e una riflessione su cosa significa pensare in grande quando ti sei abituato a pensare in piccolo.Nel mezzo: perché la Silicon Valley sta assumendo documentaristi, cosa c'entra la legna da ardere con la meditazione, e il concetto di Symbolic Self-Completion, ovvero comprare la tavoletta grafica invece di prendere un foglio e disegnare.Una puntata normale. Che però chiude qualcosa. O forse no. Ci vediamo alla prossima idea.Questa puntata è supportata da Fiscozen, il servizio online per gestire la Partita IVA. Un commercialista dedicato, raggiungibile via mail, chat o telefono, più una dashboard da cui emetti fatture, controlli le scadenze e vedi la previsione delle tasse in tempo reale.Clicca qui https://fiscozen.it/invitoHACKING50G per una consulenza gratuita e 50€ di sconto sul primo anno se decidi di affidarti a loro.#ADV

Does your adviser believe that it's their job to make sure you're in the “right” part of the market at the right time? Today, Paul and Jim talk about why it's important to read through the ADV of your firm because it explains what your adviser believes their job actually is and how they will manage your money. Find someone who will not market time with your money under the code words of “tactical asset allocation” and “fundamental analysis,” because research shows there is no compelling evidence that any of these strategies work better than staying invested.    Want to cut through the myths about retirement income and learn evidence-based strategies backed by over a century of data? Download our free Retirement Income Guide now at paulwinkler.com/relax and take the stress out of planning your retirement.   This material is for general educational purposes only and is not personalized investment, financial, tax, or legal advice. Past performance does not guarantee future results. Nothing here is an offer, solicitation, or recommendation for any security or strategy. All financial decisions involve risk, and you should consult qualified professionals before acting on this information. Advisory services offered through Paul Winkler, Inc., an SEC-registered investment adviser. 

How to Choose the Best Camping Setup for the Way You RideBefore you start comparing motorcycle tents, sleeping pads, stoves, chairs, pack sizes, and weights, there is an important question to answer. In this episode, Ben Williams from Moto Camp Nerd talks about a simple way to think through your motorcycle camping setup before you start buying gear, so your choices are based on the way you actually ride and travel, not just someone else's packing list. Michnus and Elsebie Olivier of PikiPiki Overland and Turkana Gear also share lessons learned from years of motorcycle travel, including what they've overpacked, what they've replaced, and what has earned a permanent place in their kit. It's a practical conversation about choosing gear with purpose, not just following the latest trends.

Jason Fertitta – CEO & Partner, Americana Partners Jason Fertitta shares how Americana Partners grew from a $2.6B breakaway team to a $13B+ enterprise by focusing on ownership, enterprise value, strategic acquisitions, and long-term growth. In Summary Many advisors view independence as the ultimate objective: a chance to gain control, improve economics, and build a business on their own terms. For Jason Fertitta, independence was only the beginning. Louis Diamond speaks with the CEO and Founding Partner of Americana Partners about the firm's evolution from a $2.6 billion breakaway team in 2019 to a national enterprise managing more than $13 billion today. The conversation explores the decisions that fueled that growth, the mindset required to build long-term enterprise value, and why Jason believes advisors should evaluate success through the lens of net worth rather than annual income. Along the way, they discuss recruiting, acquisitions, private equity, professional management, and the tradeoffs that come with building something intended to outlast its founders. The Storyline The independent channel has matured. A decade ago, many advisors pursued independence primarily for greater autonomy, higher payouts, and control over the client experience. Today, a growing number are approaching the decision differently—viewing independence as a platform for building enterprise value, attracting capital, completing acquisitions, and creating businesses that can scale beyond the founders themselves. Jason Fertitta's journey reflects that evolution. When he and his partners left Morgan Stanley in 2019, Americana launched with approximately $2.6B in client assets and a vision to build a nationally recognized wealth management firm. Seven years later, the firm oversees more than $13B, employs roughly 100 people, operates across multiple markets, has completed several acquisitions, and brought on Lovell Minnick Partners as its first institutional investor. Throughout the conversation, Jason offers a transparent look at the realities of enterprise building. That includes reinvesting profits rather than maximizing income, hiring professional management long before it feels necessary, embracing acquisitions as a growth strategy, and making decisions based on long-term value creation rather than short-term economics. For advisors considering what comes after independence, the episode provides a practical framework for thinking about ownership, scale, capital, and the future value of their business. About the Build, Grow & Transact Series for Advisors Build, Grow & Transact explores what happens after independence. The series features advisors and firm leaders who viewed independence not as a destination, but as the foundation for building something larger. Some launched firms from scratch. Others scaled through recruiting, acquisitions, or strategic partnerships. Many eventually faced decisions around capital, ownership, succession, or liquidity. While every story is different, they share a common thread: a willingness to think beyond the transition itself and focus on creating long-term enterprise value. Through candid conversations with founders, builders, and industry leaders, the series examines the decisions, tradeoffs, and lessons that come with growing an advisory business into an enduring enterprise. For advisors contemplating independence, actively building a firm, or considering what comes next, Build, Grow & Transact offers a look at the paths others have taken—and what they've learned along the way. > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why did Americana grow from $2.6 billion to more than $13 billion? (06:16)Jason explains how a combination of organic growth, advisor recruiting, acquisitions, and long-term strategic planning helped accelerate the firm's expansion. Why do clients often do more business with independent advisors? (12:17)Jason shares his perspective on why clients frequently deepen relationships after an advisor leaves a wirehouse environment. What role have alternatives played in Americana's growth strategy? (14:40)The discussion explores how differentiated investment access can help advisors stand apart in an increasingly commoditized marketplace. When is it time to build a professional management team? (18:36)Jason explains why Americana invested heavily in leadership, operations, and infrastructure from the very beginning. Why did Americana bring in private equity capital? (25:16)A candid discussion about growth capital, M&A opportunities, and the decision to partner with Lovell Minnick Partners. How do you evaluate enterprise value versus annual income? (20:16)Jason offers one of the episode's most important lessons: building wealth through ownership can look very different than maximizing current compensation. What makes a successful acquisition target? (39:51)Jason outlines how Americana evaluates M&A opportunities and how acquisitions fit into the broader client experience. Is it better to build your own firm or join an existing platform? (45:40)The conversation closes with Jason's perspective on the trade-offs between launching independently and joining a scaled independent enterprise. Topics Covered Enterprise value creation Independence and ownership Organic growth strategies Advisor recruiting RIA acquisitions Private equity partnerships Professional management teams Alternative investments Family office services Building a national wealth management firm Key Takeaways Independence can be a starting point for building an enterprise rather than the final objective. Long-term wealth creation often stems from ownership and equity appreciation, not from maximizing annual income. Reinvesting profits into leadership, infrastructure, and talent can accelerate enterprise value. Organic growth and acquisitions can complement one another when supported by a clear strategy. Outside capital can be a growth catalyst when aligned with management's long-term vision. The most scalable firms are often built around client needs rather than predefined acquisition targets. Advisors have more options than ever before, ranging from building independently to joining established platforms. https://youtu.be/_12jZJFsi4U Quotable Moments “Even to this day, I don't make anywhere near the amount of income that I made when I was on Wall Street. But my net worth is up tenfold.” “If you want to create value for yourself and your partners and grow your balance sheet, you can do it in a much more tax-efficient way in the independent world.” “I've never thought about how much of the company I own. I've thought about what my slice is worth.” “We want to build something our children would be proud to say we helped create.” FAQs Why are more advisors viewing independence as a business-building opportunity? The independent channel increasingly offers opportunities to create enterprise value, pursue acquisitions, attract capital, and build scalable businesses beyond a traditional advisory practice. How can advisors increase the enterprise value of their firms? Enterprise value is often driven by factors such as growth, profitability, leadership depth, recurring revenue, client demographics, infrastructure, and scalability. What role does private equity play in wealth management firms? Private equity can provide capital, strategic guidance, operational expertise, and acquisition support while helping firms accelerate growth initiatives. How do RIAs use acquisitions to grow? Many firms use acquisitions to expand geographically, add specialized capabilities, deepen client services, and accelerate asset growth. Why are professional management teams becoming more common among RIAs? As firms scale, dedicated leadership across operations, finance, compliance, and business management enables advisors to focus more effectively on clients and growth. Is launching an independent firm always the best path? Not necessarily. Some advisors prefer to build their own enterprise, while others may achieve their goals more effectively by joining an established independent platform that already provides scale and infrastructure. The independent channel increasingly offers opportunities to create enterprise value, pursue acquisitions, attract capital, and build scalable businesses beyond a traditional advisory practice. Enterprise value is often driven by factors such as growth, profitability, leadership depth, recurring revenue, client demographics, infrastructure, and scalability. Private equity can provide capital, strategic guidance, operational expertise, and acquisition support while helping firms accelerate growth initiatives. Many firms use acquisitions to expand geographically, add specialized capabilities, deepen client services, and accelerate asset growth. As firms scale, dedicated leadership across operations, finance, compliance, and business management enables advisors to focus more effectively on clients and growth. Not necessarily. Some advisors prefer to build their own enterprise, while others may achieve their goals more effectively by joining an established independent platform that already provides scale and infrastructure. Related Resources From Ex-Morgan Stanley Advisor to One of the Biggest Breakaway Stories of 2019 with Jason Fertitta (Podcast Episode) Intentional Growth: How Top Advisors Build Businesses That Last (Article) M&A Readiness Assessment (Tool) Guest Bio Jason Fertitta Jason is currently Chief Executive Officer / Founding Partner of Americana Partners. Jason was a Managing Director in Morgan Stanley's Private Wealth Division for eleven years. He joined Morgan Stanley in 2008 after six years with Lehman Brothers High Net Worth Division. Prior to joining Lehman Brothers, Jason worked six years for Texas Direct. Jason serves on the Board of The Good Samaritan Foundation and Endowment and the Houston Museum of Natural Science. Jason attended St. Edwards University in Austin. 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. View the transcript of this episode… Build, Grow & Transact: Americana's $12B Path from Breakaway to Enterprise A conversation with Louis Diamond and Jason Fertitta, CEO & Partner at Americana Partners.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Build, Grow & Transact: Americana's $12B Path from Breakaway to Enterprise. It's a conversation with Jason Fertitta, CEO and partner of Americana Partners. I’m Louis Diamond, and this is the Diamond Podcast for financial advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors, and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven, and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at 908-879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement, and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: Independence is often viewed as the finish line. Break away, gain control, own the business, and enjoy the economics that come with it. But, for some advisors, going independent is just the beginning. That’s the idea behind this new series called Build, Grow, and Transact, featuring advisors who saw independence not as a destination, but as the first chapter of a business building story. And there will be some familiar names along the way, including our first guest who was on our show back in 2020, talking about what was at the time, one of the industry’s breakaway moves. That’s Jason Fertitta, CEO and founding partner of Americana Partners. When Jason and his partners left Morgan Stanley in 2019, they started Americana with approximately 2.6 billion in client assets, and a vision that extended well beyond becoming a successful independent firm. Today, Americana oversees more than 12 billion, has expanded nationally, completed multiple acquisitions, built out a professional management team, and brought on institutional capital to support its next phase of growth. What makes Jason’s perspective valuable that he’s now experienced independence through several different lenses as a breakaway advisor, as a founder, as a builder of enterprise value, and now as the leader of a firm, actively pursuing acquisitions and recruiting talent from across the industry. We talk about the decisions that fueled Americana’s growth, why Jason has always viewed the business through a long-term lens, what changed when private equity entered the picture, and why maximizing enterprise value often requires a very different mindset than maximizing current income. For advisors who think independence is a destination, Jason’s story offers a look at what can happen when it’s treated as a starting point instead, so let’s get to it. Jason, thanks for coming back on our show today. Jason Fertitta: Pleasure to be here. Thanks for inviting me. Louis Diamond: You got it. Yeah, you’re our first guest in our new subseries, so you should feel honored. And I’m honored too, because the last time we had you on the show, Americana was about a year old, you’re navigating COVID, and all those challenges. But, for listeners who may not remember the episode, can you give us a quick version of the origin story of Americana, and what the firm looked like when you first launched it? Jason Fertitta: Yeah, I believe if I’m remembering correctly, I was in Colorado talking to you guys, and it was right after we launched, so that was a fun but stressful time. I think at the time that we launched, it was certainly the road less traveled. Most teams go from one wirehouse to another. We had an entrepreneurial itch. There was 11 of us that started the firm. We actually launched the firm from this exact building that we’re in here, but all of this was under construction. We were in temporary space one floor below on card tables, and pizza boxes, and all the things that you can envision when you think of a startup. But, yeah, we weighed all of our options in terms of going from one firm to another, staying where we were, and had a lot of talks with ourselves, and our spouses, and they were all very supportive. When you do something like this, you’re certainly scratching the entrepreneurial itch that I think is required for somebody that wants to try and build their own company. And I think we’re all satisfying that itch in different ways. We all had a lot of other outside business interests. I’m passionate about the restaurant industry, because it’s what I grew up in as a kid. And so, had opened some restaurants with some chefs that I really admire, and were doing things like that to scratch the itch, but there’s no other way to do it than doing that in your profession. And so, we decided to launch the firm. We also just felt like Texas being such a wealthy state, there really wasn’t a regionally dominant RIA from here. There’s a lot of big RIAs in the Northeast, and the Northwest, and the West Coast. And we just felt like Texas was ready to hopefully be able to support the concept of launching it from the state, and then expanding it out regionally and nationally from here. Those are all thoughts in our heads and dreams and we’ve worked really hard to get to where we are, but I think we’re in a great spot right now for another leg of growth. Louis Diamond: Amazing. I would say that plan has certainly worked out. When you were on our show last in 2019, the firm was at about 2.6 billion at time of launch. And now, I saw in news articles and your ADV, it’s north of 12 billion, but I’m sure it’s even larger now. Can you walk through just what’s the makeup of the firm today? How many partners and advisors? What’s the profile of the end client? What markets are you in, in and around Texas or around the country? Jason Fertitta: Yeah, so today we’re roughly a hundred employees, right at 13 billion in AUM. I would say we have six offices, Houston, Austin, Dallas, Midland, Beverly Hills, and Nashville. We have about 30 advisors, 30 financial advisors, and our average account size I would say is right around $20 million. That’s not a rule, it’s just the way it is. We have some wonderful accounts that are two or three million, and we have some great accounts that are well over a billion. And in terms of the makeup of the firm, since the time we’ve spoken, and we’ll get into this later, but we have run in private equity, we have about nine families that are owners of the firm with us. It’s really families, private equity, and employees. That’s the cap table currently. Louis Diamond: Very cool. As far as building the firm geographically, for the offices of Texas, that makes sense to your earlier comment about wanting to build a Texas dominant or a regionally dominant firm. But, how’d you land in Beverly Hills and Nashville? That’s a little bit different. Jason Fertitta: Yeah, it is. I think so much of where we’re going is secondary to who we’re partnering with. I think we would go anywhere in the country if we had the right partner in that city. We’re not necessarily saying we have to be in Atlanta. Let’s find the right partners in Atlanta. It’s more about, we found the right partners in Atlanta, so we’re going to Atlanta. And you meet these people everywhere. Everyone has their own Rolodex inside of our firm. Sometimes it’s an employee here that has a relationship with someone that wants to break away and be part of an independent firm. Sometimes it’s me. There’s a lot of golf DNA in our firm, so we’ve met a ton of people through the incredible game of golf. In fact, last weekend we just hosted our first Americana Cub Golf Tournament where we took over an entire club, and invited 40 strategic invitations to people that could be helpful to our firm. I would say it’s really just networking, trying to find like-minded advisors that were very big at putting the client at the center of every decision you make. A lot of times you’ll come across of an advisor that financially looks really good on paper, but they’re maybe not always doing what’s right by the client. We run from those situations. We’d rather have a financial advisor that perhaps statistically is inferior to that other one on paper from a P&L perspective, but we feel like it’s doing what’s right by the client in the decisions. And that’s usually the main factor for us in seeking out the right partners. Louis Diamond: I love that. And one of the premises of this new subseries of ours is about growing, and then, of course, recognizing that value through some sort of monetization. To me, the star of your show is your insanely impressive growth, which I would assume comes from both organic means, and also from inorganic, whether through M&A, or recruiting teams from your predecessor firms, or from other wirehouses. Can you talk a little bit about the breakdown of the two growth channels, and how you pursue both, organic and then inorganic growth? Jason Fertitta: Yeah. Well, I think organic growth, the preference for anyone that’s in our sea, because you don’t have to pay for organic growth. It’s just you have to expose your platform to potential clients, and it has to be differentiated enough for them to move assets from another firm to yours. And I would tell you, I think we do a really good job at that. We’ve built an incredible platform that has, and enables a financial advisor to have all the same arrows in the quiver that a big firm has. We’ve got an incredible alts department. We’ve got an incredible CIO that produces great research. We got incredible in-house portfolio managers, both in the core equity space, but then also the municipal bond space. We have an incredible external manager platform that has everything from cash management on steroids, to venture capital investing, to co-investing, to direct investments into companies. We have this really great platform. We also recognize that we want to grow through M&A as well, because there’s only so much time in the day you’re not willing to add more employees and more like-minded advisors to grow. We do both, to your point, we absolutely do both, and they’re both equally as important. On the M&A side, I would say it’s been responsible for half of our AUM growth over the last seven years, and the other half has been organic. And I think as we get bigger and bigger, that number’s going to not stay consistent. I would say that if we could grow our AUM organically by 10% per year, and then do five to seven acquisitions a year, combination of RIAs and Wall Street lift outs, I think those are good goals for us, and we’re off to a good start in trying to achieve those goals. Louis Diamond: I think if you pull off even half of that, I think your private equity sponsors, and investors, and employees would be very happy. Can we double click into the organic growth side? How do you view whether your growth rate changing organically since leaving Morgan to start the RIA? And if it has changed, what do you think are the things that are responsible for the faster growth, or slower growth if it’s slower than when you’re at Morgan? Jason Fertitta: One of the interesting secrets about being independent versus inside of a big bank is I think your clients will actually do more business with you if you’re independent. I didn’t realize that until we went independent. I had heard that before, but I was like, that may or may not be true. But, when we went independent, and every time we recruit a team from a big bank, the same thing happens. It’s like the clients are like, “What took you so long?” They’ve very much, for the most part … Now, that’s not every client, but most clients, I think prefer to be serviced by an advisor that’s conflict bringing the independent channel. There are other clients that might have a big investment banking relationship with a big bank, or something like that, like a business reason for not leaving. But, in terms of just being able to service the client from an independent channel where you’re a legal fiduciary, I think all the interest is aligned from client to service provider, and I just think it’s easier to raise money in this channel than it is at a bank. Louis Diamond: And you really think the types of clients you work with or just clients in general, the difference maker is really the conflict-free advice. Obviously, it sounds good, but I would argue that when you were at Morgan Stanley, your team was one of the top teams in the country, you had an amazing reputation, you’re probably giving similar quality advice then than you were today. How has that really manifested itself? Jason Fertitta: I always say I think you can have a great experience at a firm that is perhaps not the most prestigious, great firm in the country if you’re with the right team. And I think you can also have a horrible experience at a firm with a great reputation if you’re with the wrong team. It is my belief the most important thing from the customer’s perspective is who you’re working with. I appreciate your comments about our team, and we work very hard to deserve the reputation that you’re talking about. But, I also think that when you’re in the independent world, some of the things the banks do very well is they have great investment platforms, and a lot of due diligence in their products. I think when you’re an independent firm, you’re obviously, you don’t immediately have all of those same intangibles that a big bank has. I think it was very important for us to invest heavily into those departments inside of our firm to where we could be on some equal footing with Wall Street firms, and we have been. We have raised a lot of money for alternative managers. I think alternatives are a huge secret sauce that an independent advisor needs to have access to, because in a world where the public markets are getting more efficient and more commoditized, it’s very challenging to grow organically the way that we have without some secret sauce. And I think the secret sauce lies within the alternatives, because it’s very hard to differentiate yourself if you’re just trying to optimize someone’s public equity portfolio, and improve where they sit on the efficient frontier. I think that’s just a tough challenge. But, if you can mix in some truly differentiated alternatives where access is a big component of the value proposition, then all of a sudden, you’re bringing your clients something special, and something that’s unique. Louis Diamond: I really like that perspective. I think you’re completely right. I’ve always heard people say investments are commoditized, and it’s all about advice and planning, but I think the way you framed it about the ALFA essentially being worked out of it, so it’s the access, and it’s what you’re doing different on the investment side outside of the more basic or commoditized stuff that’s a difference maker. When you launched the firm, and I believe still today, Americana hired Dynasty Financial Partners as your infrastructure partner. Now that you’re significantly larger, you’re seven years into your independent journey, how does the relationship with Dynasty change, if at all? What do they do for you that you benefit from differently today than when you first launched? Jason Fertitta: Yeah, it would’ve been impossible for us to do what we did without Dynasty’s help. Dynasty has delivered for us in a meaningful way and they continue to. They’re a great partner. We definitely are developing our own sea legs as well, just because you have to just by virtue of the size that you get to. But, Dynasty, I think, has been incredibly innovative in terms of launching an investment bank and bringing … Dynasty’s brought us deals, which is incredible. Just in addition to being an infrastructure partner, they’ve actually provided us deal flow. They’re also, because they’re working with so many firms, you get in all sorts of situations as an independent firm, and to have someone to pick up the phone and say, “Here’s what we’re dealing with.” And they’ll say, “Oh, here are the three things you need to do. You either need to do it like this or this.” Just a lot of experience within Dynasty. I don’t know if we’re Dynasty’s biggest client or not, but I would say we’re certainly in their top three. We are looking to continue that relationship, and always having a relationship with Dynasty, but I would describe it as evolving, because our revenue is up 6X in the last six years. Louis Diamond: Amazing. That makes complete sense. The needs of the business when you are leaving a big firm is got to get the clients over, got to build the plane before it can fly, and understand how to do X, Y, and Z, to now, it’s enterprise building, and optimizing, and growing inorganically, so that makes complete sense, and very cool to hear that Dynasty has evolved or morphed the relationship to meet you where you are now. And to me, I think a big part of that is hiring professional management. That’s always a question we get. When am I big enough? When’s the right time to hire professional management, whether it’s a full-time CEO, a CFO, a COO, et cetera. I know in your case, fairly early on you hired Ron Thacker who was a regional manager from Morgan Stanley. I saw recently you hired a CFO, so you’re really professionalizing the leadership ranks. When did you know it was the right time to build a professional management team, and how did you think about that evolution? Jason Fertitta: We knew from day one that’s what we wanted to do. I think when you go independent, there’s a couple of different schools of thought. One school of thought is I can go independent. I’m not going to really have a boss. I’ll be my own boss. I may or may not grow the business. I’m going to run it in a way that’s lean. I might be able to have a little bit more of a take home because there’s not a third hand in the cookie jar in terms of the bank, and it’s a great lifestyle. I think that’s one school of thought and I think that’s great. That was not our school of thought. Our school of thought is we had a belief that in this country, there’s going to emerge five to 10 regionally dominant RIAs, and these regionally dominant RIAs were going to enjoy economies of scale, and they were going to compete with Wall Street. And in order to do that, we had to reinvest a lot of our profit into our business through building this management team that you’re referencing. Even to this day, I don’t make anywhere near the amount of income that I made when I was on Wall Street, but I’m not, and it’s because we’re building equity value, and we’re building something that will last, and we reinvest a lot of our cash flow into professionalizing the management team, and then being able to deliver on that promise to the financial advisors that are here that you’re going to have a platform, that when you walk in the room, you’re going to be able to compete with Wall Street. And so, that’s always been our goal, which is not necessarily everybody’s goal when they go independent, because it’s a lifestyle decision really. I work way harder today than I worked when I was at a Wall Street firm. Louis Diamond: It’s so interesting. Two threads I want to tug on from what you said. The first one is I think just the comment you made that you’re making less today when the business is significantly larger than it was when you’re at Morgan Stanley, you’re working harder. I think even that dynamic is going to feel like a shock to a lot of people, right? If you’re working harder, the business is doing six times more revenue than it was at Morgan Stanley, that doesn’t seem like a fair trade. How do you think about that relative to the equity value that you’re amassing? Was that always the plan, or is that just something you’ve leaned into as the firm has grown and scaled? Jason Fertitta: Well, the third component you left out is my net worth is up 10X- Louis Diamond: There you go. Jason Fertitta: … whereas if I would’ve stayed at a Wall Street firm, and so are all the employees here. If it’s about that, I can tell you that we checked that box. Americana is very valuable, and we’re happy about that. It’s really just about how you want to create that, right? If you want to create it through income, and pay a lot of taxes along the way, stay at the Wall Street firm. But, if you want to create value for yourself and your partners, and grow your balance sheet, you can do it in a much more tax efficient way in the independent world. And I’m light years ahead of where I would’ve been if I would’ve stayed at a Wall Street firm. Louis Diamond: I think that’s the coolest realization I think someone can have, right? We always say it’s like, what do you value more? Is it the short-term liquidity, or certainty of getting a big upfront recruiting deal at ordinary income, or staying where you are and keep making your 50% payout, take advantage of your firm’s retire in place program? And for many people, that’s what they value. But, for you, I think you very clearly and transparently articulated that, yeah, I might make less, but what really matters is my net worth. It’s how much I’m actually netting for my family in the long run. For people who want to play the long game, really buy into that concept, it sounds like following your path would be ideal, but it may not be for everyone. Jason Fertitta: It’s a much better path, and I’m living proof of it, and not only am I living proof of it, all of my partners are here, and everybody that owns equity in Americana is living proof of it. Louis Diamond: Amazing. You said you’re working more now than when you’re at Morgan. How has your day-to-day, or day in the life changed? What types of activities are you doing more or less of, and how do you balance everything? Jason Fertitta: Yeah, it’s hard to balance everything, it is. But, I would say that one of the unique things about Americana is the founders are all financial advisors. We aren’t consultants that came out of the consulting world, we’re financial advisors. I’m still a financial advisor. I still cover clients. I would say a third of my time is actually covering the house accounts here with some of my original partners. A third of my time is firm related stuff, and then, a third of my time is M&A, and that’s not only M&A, but helping the advisors that are here grow their business also. And so, I come across a lot of leads and opportunities. I’m not really taking them for the house account book or myself. I’m finding the right advisors that I feel I could service the clients the best, and then I’m flipping them to them and sitting second chair and I’ve seen some amazing growth to their businesses by just being able to send them leads. Louis Diamond: Yeah. I think that’s always like the tug of war for … I think most founders of RIAs in this industry, they were advisors themselves. They were the rainmakers, or they still are, but there’s definitely some folks who, whether because of lack of time, or lose the spark or passion for working with clients, that they pivot to being full-time CEO, or we’ve even seen people go the other way where they say, “I was the CEO. I really just want to be an advisor, or just do M&A, and I’m going to hire a CEO.” It’s really cool to hear how you split up your time, and you’re able to do it all. And I’m sure it’s not perfect. I’m sure your family wishes they saw you more, and et cetera, but it sounds like you’re able to really pursue your different passions. Jason Fertitta: All those three activities are very fun, and they keep everyday interesting, and you don’t necessarily know at what points in the day you’re going to be working on which bucket, and there’s a lot of blend and overlap, but we spend a lot of time here working on behalf of our clients, and the firm, and every day is an adventure, but it's fun. It’s a blast. Louis Diamond: Absolutely. Well, let’s spend some time talking about your fairly recent capital raise. In October of 2024, Americana announced that PE firm Lovell Minnick Partners, the firm’s first outside institutional investor was coming in to take a majority stake in the firm. Can you take us back to that decision? I’m sure it’s still clearly vivid. Maybe talk through it, and when did you first start to think seriously about bringing in capital? Jason Fertitta: Yeah, so probably at the end of ’23, we looked down, and there was $100 million worth of potential M&A that was fairly actionable that we could do. And the other M&A events we did were small deals, 10, $20 million sometimes, but firms with three, 400 in AUM to 600 million in AUM. We were doing deals that size, and we’re just passing the hat, and saying, okay, to the families that were in our cap table and to ourselves, who wants to write a check? The cap table was changing all the time based on people’s buy-in and M&A transaction. But then, when you sit down, and you look at potentially $100 million of M&A, if every deal came through that you’re in conversations around, and we owned at the time 75% of the firm, the families owned 25. If all of that M&A were to have happened, we didn’t have $75 million as employees. We were facing dilution. And then, we went to the families and said, “Hey, we don’t mind being diluted, but we got to know that if all of these came through, you guys want to invest another 100 million into this business.” And that’s when they said, “Well, we can. All the deals that you’ve done so far have been accretive and great. But, our value add to you is not M&A. It’s not underwriting. It’s not how to take this firm from four billion to 12 billion or customers. Why don’t you contemplate bringing in an institutional partner to help you round first base and go to second and third?” And so, I called a good friend, a gentleman by the name of Jimmy Dunne, who’s legendary in the world of golf and business. He’s a vice chair at Piper Sandler. I explained the situation, and he said, “Well, this is going to sound self-serving, but I think you should hire me and my firm to run a process to find your partner.” Louis Diamond: Classic investment banker. Jason Fertitta: And we did, and he worked on a very small retainer, and a contingency fee, and they helped us get ready to show the firm to the institutional world, and that took nine to 12 months of hard work to get ready. They ran the process. I think we had 30 firms sign the NDA in the October of ’24 month that you mentioned. I think we had 20 offers. And during that year, we were getting to know a lot of the people that were going to be bidding on us, and we frankly were incredibly impressed by Lovell Minnick and their success that they have had in investing in the wealth space. We were always pulling for Lovell Minnick to compete and compete well, got to run an honest process and Lovell Minnick was not the high bid, but they were a very good and well-thought-out bid that was easy for us to understand on why they were where they were. And for us, it was about how can we create value from this point forward with the right partner to really grow the firm and scale it to where we wanted it to be? And so, that was the more important driving factor in our decision to sell to Lovell Minnick. Now, of course, we wanted to sell a minority piece, but the reality is, given the activity that we had in our M&A pipeline at the time, they were going to eventually get to majority anyway. And so, I may be skipping ahead a little bit in the podcast, but I know what some of the questions are going to contemplate, and our thought was, you’re in a better position to negotiate minority rights before the transaction than later. And so, we got all of that out on the table in our negotiations with our private equity partner, and then just got married immediately instead of had this weird period of where they ultimately were going to get to majority control through M&A, and then, you have this awkward moment where that shift happens after you’re already partners. Louis Diamond: Very interesting. Was it a hard decision to give up majority control over your baby? Jason Fertitta: Definitely a lot of self-reflecting on behalf of our team and everything, but I think where we came out with it, and I’m a big believer in this, is the people that really control the business are the people that control the relationships with the clients. Lovell Minnick knows that, and we’ve never had a decision in a year and a half that we don’t all arrive at the same place. We negotiate, we study, but they know that it’s not in their best interest to try and force the management team to do something that the management team is not in agreement on, because at the end of the day, we’re servicing all of these accounts. Look, we don’t see eye to eye exactly on everything, no partners do. But, we’re generally in the same zip code on everything, and we talk things through until we all arrive at the same place that this is in the best interest of the company. And I think a big part of why that works so well for us in Lovell Minnick, and I think this is very unique in the industry, it all goes back to we all own the same share class. We’re all in the foxhole together. We all sink or swim together. There’s no way one group can win and another group can lose. We all own the exact same security. Not only do we all own the exact same security, but our employees own it. The families that are in our cap table own it. And so, every decision comes from the standpoint of how do we make decisions to benefit that security? Louis Diamond: Makes sense. It’s still a tough decision, but you lay it out, make it seem like an easy decision with the conviction you have, I think the very pure motivation to make that leap. Aside from capital to fuel M&A, what are the other things that Lovell Minnick is doing for your business to help it? Jason Fertitta: Well, Lovell Minnick, and this is another thing that was impressive to us, they’re always the first institutional capital until what’s otherwise an entrepreneurial family-owned business. They’re not afraid of building the things that you have to build to get ready to scale. They’ve seen it in every investment they’ve made. And so, that was very refreshing to us, because frankly, we wanted the help. We wanted the expertise. We’re financial advisors at heart. Like a lot of private equity firms, LMP has this third party advisory relationships with industry people, and they’ve brought those people into our firm, several sit on the board of the firm today, and they’ve just been fantastic to work with. Some have more experience with FinTech, some have more experience with HR, some have more experience with actual investment platforms and product. Some have more experience in how to help clients optimize from a tax perspective. Some have family office experience. And so, we’ve really benefited from this group of people. And I would tell you that, since they came into our world, which is about 18 months ago, we have been building a lot of things that are about to be unveiled to not only our financial advisors, but our clients. And I think that the experience is just going to continue to get better for both of those segments. Louis Diamond: Very cool. Yeah, it seems like a great fit. And I meant to ask you before, because it’s such a cool, and I think still a fairly novel concept, but what was the thinking behind having nine families, their customers or clients come in, and buy some equity in the firm? Why’d you do that? And then what’s been the outcome of that? Jason Fertitta: It was more their idea than us after we launched the firm. And this goes back to my original comments about the clients want to do more business with you when you’re independent than when you’re inside the bank. And we have a lot of clients that are entrepreneurial. And so, I think when we explained to them the reasons why we were doing this, and the reasons why we’re so excited about it, they got excited about it too, some clients, most clients. And so, what they said was, “Yeah, we’re going to move our money to it, we’re excited about it, but if there’s an opportunity, we’d also like to own a piece of the firm.” And originally, when they said that, I didn’t know if they meant that they wanted us to give them, but they wrote a check. They all wrote checks. We set an arbitrary value of the firm in the first year after we launched it. And that wasn’t a whole lot of science behind the value. It’s basically what we would’ve been paid by walking across the street, and that was the original value. And they bought into the firm, and then, Lovell Minnick really thought it was a nice novel concept that they hadn’t seen before, and they’ve embraced it. When they invested, we brought another round of clients into the firm at that valuation. I think it’s really powerful, because what’s important for us in these families is that they’re all pillars of their respective communities and they’re spread across all over the country and Mexico. We have some incredibly good reputation, great business people in Mexico City, and Monterrey, and Los Angeles, and Midland, and Dallas, and Austin, and Houston. And we’re open to the concept of when we come into new markets, finding that pillar of the community, finding that family who people ask, “Well, what do you do with your money?” We want them to say, “Well, we own our own wealth management firm. He wants to have them call you and they’ll show you what we do with our money.” And that’s a powerful part of the organic growth and the flywheel. Louis Diamond: I absolutely love that. I oftentimes have clients, especially breakaway clients talk about how cool it would be to have a client or set of clients invest in their business. But, the reasons why, I love that as part of a very consistent, repeatable strategy of identifying key influencers essentially in different markets, and then having them come into the cap table. I would assume too, the dynamic of, “Oh, you should call Jason, he’s my financial advisor, he’s great,” to, “Hey, you should come in and meet my firm.” And I feel like clients are probably much more incentivized naturally to refer friends, family, et cetera. And just the power and dynamic of that referral is probably that much better than a referral from another happy customer who’s not an investor. Jason Fertitta: Exactly. When we’re looking at coming into a new city with a new partner, to the extent they have those clients in that community, and when they join us, we have a private equity partner that embraces that strategy and concept. When we’re talking to that Wall Street advisor, and they’re interested in our business model and our plan, I think that particular part of our business model is very differentiated and intriguing to them. Louis Diamond: Amazing. You mentioned in your last answer that you have, it sounds like you have some investors in Mexico, and that you’re serving families in Mexico and Latin America as well. Can you talk about adding that capability or the openness to go international? That’s clearly a big decision. It’s a different risk profile, different client needs. What was the thought process behind taking Americana, I guess, still in the Americas, but outside of America? Jason Fertitta: Yeah. Well, I think a lot of it is growing up in Texas, there’s a lot of wonderful families from Mexico whose kids and grandkids have moved here, and our children are going to school with their children, and they’re part of our community, and I think they’re a great part of our community. And so, I just started to notice how Wall Street treated this community as just one, right? And what we were able to do is cherry-pick a few families that we knew very well that are incredibly good reputations in the cities that they’re from, and their origins are from. And there’s a high desire on behalf of not only those families, but their friends to invest into the United States into our economy. And given that a lot of their children and grandchildren live in the US, these are families that have citizens and their family inside of the US and back home in Mexico. Most of these families, they’ve been going to our colleges. A lot of these families sit on the boards of Fortune 500 companies inside of the United States. These are families that are very easy to do due diligence on, and frankly, we have learned a lot from them. They’re very sophisticated families, and so, they’ve been amazing partners, and we use Bank of New York Pershing to custody a lot of these assets, and I think they’re increasingly becoming more interested in alternatives as part of their portfolios, because I think going back 15, 20 years ago, these families were mostly stocks, bonds, and cash. But, as they continue to build out their own family offices, they’re becoming more sophisticated and interested in alternatives, so it’s really been an exciting part of our firm. Louis Diamond: Did this expansion, does it scratch the itch to go into different Latin American countries in Europe and Asia, or is that not really part of the roadmap? Jason Fertitta: Well, it’s open to the concept. Like I said, the genesis of this for us was the fact that our children go to school with their children, and we got to know several families just through our social circles here in Texas. But, I don’t think that same phenomenon would exist in Europe, other Latin American countries per se, but we’re certainly open to it, and there’s a lot going on in Latin America. There’s a lot going on and a lot of potential, so we’re open to anything that increases the footprint in the right way for Americana. Louis Diamond: Great answer. Let’s go back a little bit to talk a little bit more about your M&A strategy. You merged with or acquired Boulevard Family Wealth, which was Matt Celenza’s firm. I think Matt was the first breakaway guest on our show, and an amazing advisor. You bought Goodpasture Gray in Nashville, and more recently you bought NRT Consulting. I think from my read, three different types of firms, different geographies. How do you think about the M&A strategy? Jason Fertitta: I feel like we’re building out a firm and departments in the firm, and each of those acquisitions goes into a different department of our firm. I think Matt Celenza and Boulevard are fantastic, and they’re really good at tax optimization strategies for families, and they’re really innovative there. That is a very hot topic with all of our clients. More and more families are getting smart about the fact that not only does it matter what your returns look like. What really matters is how much of those returns you get to keep. And so, Matt and his team are incredibly sophisticated and cutting edge on tax optimization, and that's proliferating throughout our firm right now, which is I think making us even better at what we can advise and provide to our clients. I would say that’s more in the family office service and tax planning part of our firm. Goodpasture Gray’s fantastic. WL who runs that firm, or did prior to the merger, I’ve known him for 30 years. He’s a longtime family friend. His clients are in Nashville, Santa Fe, and Texas. He and my father actually used to office together. And then, ironically, he hired Dynasty to represent him to find the right partner. That’s an example where full circle Dynasty brought him back and I hadn’t talked to him for decades, but we shared a bunch of fun stories about how I used to go up in college, and hang out with he and my dad in their office. That was a great full circle experience, but WL’s just a fantastic financial advisor that does what we’ve always done. He’s just a natural fit inside of our firm. And then NRT, Chris Ginsbach and his team, they’re unbelievable. They do bookkeeping services for families. They’re not signing tax returns, but the more sophisticated these families get, some of these families have 35, to 45, to 55 different LLCs that require bookkeeping services. He’s an accountant by training, so is everyone that works there. And I think that there’s a lot of cross-pollinating with our client base that wants bookkeeping services for their needs. With all of these different M&A events, it’s trying to meet or have the ability to meet your client at wherever their pain points are. And some of your client’s pain points are in bookkeeping and accounting. Some are in tax optimization, and some are just good old-fashioned financial advice and access. And all three of those acquisitions that you described are meeting that client in a different pain point, but they’re all pain points, and they’re all important. Louis Diamond: When you’re thinking about M&A, is it like you have, these are the three areas that we want to add to the firm? Next one, making it up, we want to add tax preparation. Are you then going out to find a firm that fits the bill, or is it more so just you’re selective with who you take on, and you look for a new capability, or just like an extreme alignment with how you’re already serving clients, and then, that’s what makes a compelling deal for you? Jason Fertitta: Yeah. Most of the time, we’re getting feedback from our clients on where they need help, and that is usually the spark that starts the fire on, okay, what if we added this? It’s really I would say more based on client feedback. We don’t have estate planning attorneys inside of Americana per se. We don’t have accountants that are signing people’s tax returns inside of Americana. We get a lot of interesting opportunities from accounting firms and estate planning firms. And so, I like how we have this great referral network in place with those industries. And so, I think we’d have to think long and hard about getting into those businesses per se. Louis Diamond: Makes sense. I feel like there’s probably a version of this story, your story, where you break away, you plot along, you’re happy to not have a boss anymore, clients are happy, maybe you get to like four or five billion in assets, and you call it a win, and just throw in coast mode, but clearly you didn’t do that. You went the opposite direction. What do you think drove the ambition to keep building towards something larger? What’s really sparking you and motivating you today maybe differently, or in a more defined way than it was when you first broke? Jason Fertitta: Yeah, I would say it’s not just me, it’s all the founders, and I think all the employees. I share this and not to sound corny about it. I think everyone here wants to try and build something that his or her children would say, “My parent was one of the founders and employees of Americana Partners.” It’s like, I think when you work at a bank, you definitely care about your brand that you’re building, but this is a whole next level of care about your brand. We really care about this brand, and we want it to outlast all of us. Louis Diamond: Love that. For a successful wirehouse advisor or team that’s sitting on a really nice practice maybe similar in size or in the same realm that you had back where you were in that world, and they’re thinking about maximizing their value, what advice would you offer? Do you think your story is an outlier, or do you think it’s doable by others if they follow certain advice or principles? Jason Fertitta: I would have a two-word answer. Call us. I’m kidding. I have a much longer answer. One of the things I really respected about a certain advisor, and if he’s listening to this, he’ll know exactly who he is, but I feel awkward saying his name. When I was contemplating going independent, I talked to an entrepreneur I really admire, and I called him, and I said, “Hey, we’re thinking about doing this.” And he said, “Look, I’m going to try and convince you to join our firm, and if you don’t end up doing that, it’s fine. There’ll be no hard feelings, because we ended up launching our own firm and I would never fault you for the decision if you wanted to do that with your team.” And we thought long and hard, we almost joined his firm. It was in a very different geography so we ended up launching our own firm. I would say that if you want to do it yourself, we would respond the same way. We would give you a high five, and wish you well, and say you’ve made a great decision, and we’d be pulling for you. If you want to spend more time with your clients, and less time in building the firm, we have the firm built, and it’s fantastic, and it wasn’t without blood, sweat and tears for seven years, and we can create a transaction that is economically the same or better as launching your own firm, and you have a voice, and you have a seat at the table, because we’re still small enough to where you can help shape the direction of this firm, and we want your input. The difference is that instead of spending a third of your time interacting with financial advisors the way I do, you could spend 90% of your time interacting with your clients, instead of a third, and be part of a firm that I think has great national prospects. But, I would never fault someone for doing it themselves, because that’s what we did, and that would be hypocritical. But, I really do think that this is a better path, even if you did it yourself, or if you did it with someone like us. I think you’re choosing two better options than what you currently have. Louis Diamond: I think it’s a great perspective, and I think it’s balanced and fair too. There’s plenty of people that I speak to where their passion is building. They want to be the next Americana, right? That’s what’s going to spark them and get them out of bed. They want to do M&A, they want to be the CEO, they want to really make their mark on the industry, and that’s fine. But, I do think there’s probably more advisors out there that would love to be part of something, and they’d love equity, and they’re passionate about different things than you were passionate about when you launched the firm. And the theory of a rising tide lifts all boats, it’s like, you can do this yourself or let’s just build something bigger and better together. And just getting comfortable with the theory of you’ll own a smaller piece of the pie, but the pie is much more valuable than owning 100% or 80% of something that’s less valuable, and is going to take you in a different direction personally. I always say we’re not in the business of making judgments for people. It’s up to them to define their goals, and then, we’ll help them execute on it. But, I really like that perspective. I agree, it’s not for everyone. What you did is extremely hard, it’s a risk, it’s a big swing. But, if you have the stomach for it, and you want to take the swing, to me there’s no better time to pursue that path than today. Jason Fertitta: I agree. And I could totally see a world over the next five years where some of these advisors that join us are bigger shareholders in this firm than me, and that would be great. Louis Diamond: Interesting. Jason Fertitta: I’m with you, not only do I agree with what you’re saying, to me, I’ve never thought about how much of this company do I own? I’ve thought about what is the percentage of the company that I own, and what is it worth? I could care less if it was 25%, 12.5%, 5%. What I care is, what is that slice worth? Louis Diamond: That’s a fun way to look at it. Jason, this has been really fun. This new series Build, Grow, and Transact, this is proof of concept, but we’re going to have to do a ton of these, because the richness of detail, and whenever we have breakaway guests, we’re talking to them in the beginning when they’re still finding their feet, everything’s new and fresh. They haven’t thought about or executed on M&A and taking on capital partners. But, I feel like this is the missing ingredient where it’s a playbook for how others can be better themselves, something to shoot towards. And I really appreciate your candor and transparency, and I’m very serious, we’ll have to do this again when you’re at 25 billion, and you have even more lessons, and I’m sure battle scars to share. Jason Fertitta: No doubt. I’m for sure open to doing that. And maybe in the meantime, I see the pictures behind your head there. I’d love to come visit you in Park City and hang out and ski, or play golf, or- Louis Diamond: You got it. Jason Fertitta: All right. Thanks for your time and thank you for having me. Louis Diamond: Thanks, Jason. Mindy Diamond: As a financial advisor, you hold yourself to the highest standards of integrity, honesty, and credibility. You are successful, because you take your professional responsibility seriously, and are dedicated to your clients, but are you living your best business life? Are your goals aligned with your firms, or could a better option exist? Should I Stay Or Should I Go is a book written with you in mind. It’s a self-guided journey that walks you through the key steps that we take with our advisor clients. This strategic thought process and roadmap to professional self-discovery is designed to help you ask the right questions, and think critically and objectively, whether you’re considering change or not. Learn how to get your copy at diamond-consultants.com/thebook. Build, Grow & Transact: Americana's $12B Path from Breakaway to Enterprise A conversation with Louis Diamond and Jason Fertitta, CEO & Partner at Americana Partners.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Build, Grow & Transact: Americana's $12B Path from Breakaway to Enterprise. It's a conversation with Jason Fertitta, CEO and partner of Americana Partners. I’m Louis Diamond, and this is the Diamond Podcast for financial advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors, and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven, and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at 908-879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement, and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: Independence is often viewed as the finish line. Break away, gain control, own the business, and enjoy the economics that come with it. But, for some advisors, going independent is just the beginning. That’s the idea behind this new series called Build, Grow, and Transact, featuring advisors who saw independence not as a destination, but as the first chapter of a business building story. And there will be some familiar names along the way, including our first guest who was on our show back in 2020, talking about what was at the time, one of the industry’s breakaway moves. That’s Jason Fertitta, CEO and foun

Want to work with me FREE for 7 days? Click here to check out my tennis clubhttps://www.skool.com/stokke-doubles-academy/aboutCheck out what ADV has to offerhttps://www.advtennis.pro/JONATHAN70538Find more about Pancho at www.panchocampo.comWe talk:2:15 What he feared5:47 Peaking your energy level9:20 Managing energy throughout a match13:00 Motivation17:02 A big lie coaches tell21:54 Embracing fear31:11 Adrenaline to dopamine

Why Robert Pirsig's Famous Motorcycle Book Mattered to Him — And Why it Didn'tTed Simon is best known as the author of Jupiter's Travels, one of the most influential motorcycle travel books ever written. Robert Pirsig's Zen and the Art of Motorcycle Maintenance is another book that has long held a strange place in motorcycling culture: widely known, often recommended, and perhaps just as often left unfinished. In this conversation, Ted talks about finally reading Pirsig's famous book and why it matters to him in a way listeners might not expect. Is it really a motorcycle book? Why has it stayed in the minds of riders for so many years? And what does motorcycle maintenance mean when the machine beneath you is not just a symbol, but the thing that determines whether the journey continues? What begins with one famous motorcycle book soon opens into Ted's own memories of travel, breakdowns, repair, and the very practical reality of keeping a journey alive when there is no easy answer and no one else to do the work.

On this truncated holiday edition of The Option Block, host Mark Longo is joined by panelists Mike Tosaw of St. Charles Wealth Management and Henry Schwartz of Cboe to break down a wild, high-volume week in the options market. The crew dives deep into the absolute blockbuster debut of SpaceX options, putting up a staggering 1.8 million contracts on day one—roughly 5X the historic 2012 Meta IPO record. The panel adjusts those numbers for "options inflation" compared to 2012's average daily volume (ADV) and analyzes the extreme upside skew, crashing implied volatility, and how retail traders are playing the action. Plus, Mike Tosaw gives his take on the new Fed chair's shift in guidance policy and details why he's keeping an eye on silver (SLV) put options. Finally, the team breaks down unusual activity in Butterfly Network (BFLY), Allot Limited (ALLT), and QuantumScape (QS).

Send us Fan MailAustin Gaule of 1% Productions joins The Mox on the Vulgar Display of Podcast for a deep dive into the world of independent concert promotion, the evolving live music industry, and what it takes to build one of the Midwest's most respected DIY entertainment companies.Founded in 1997, 1% Productions has become a powerhouse in live entertainment, producing hundreds of shows each year across Nebraska, Iowa, Missouri and beyond. Known for their independent spirit and commitment to supporting all genres of music, 1% has helped shape the Midwest music scene for nearly three decades, from intimate club shows to massive arena events.Austin talks about the grind behind booking shows, building artist relationships, fan culture, and the importance of keeping heavy music thriving in smaller venues. We also preview several huge upcoming shows hitting Off Broadway in St. Louis presented by 1% Productions:

On this truncated holiday edition of The Option Block, host Mark Longo is joined by panelists Mike Tosaw of St. Charles Wealth Management and Henry Schwartz of Cboe to break down a wild, high-volume week in the options market. The crew dives deep into the absolute blockbuster debut of SpaceX options, putting up a staggering 1.8 million contracts on day one—roughly 5X the historic 2012 Meta IPO record. The panel adjusts those numbers for "options inflation" compared to 2012's average daily volume (ADV) and analyzes the extreme upside skew, crashing implied volatility, and how retail traders are playing the action. Plus, Mike Tosaw gives his take on the new Fed chair's shift in guidance policy and details why he's keeping an eye on silver (SLV) put options. Finally, the team breaks down unusual activity in Butterfly Network (BFLY), Allot Limited (ALLT), and QuantumScape (QS).

Solo Motorcycle Travel Through South America with Lala BarlowLala Barlow was working in musical theatre in Melbourne, Australia, when the pandemic brought the industry to a halt. Drawn to motorcycles, mountains, and Patagonia, she spent years preparing for a solo motorcycle journey through South America, including a four-month shakedown ride across Australia. Lala shares what it takes to plan a major adventure, travel alone in unfamiliar countries, manage fear and uncertainty, and ride through Peru, Bolivia, Argentina, Chile, and Patagonia. A conversation about preparation, perseverance, and turning a dream into reality.Links & ResourcesPhotos, links, and resources for this episodeMore episodes: Adventure Rider Radio and RAWSupport the show: Support ARRFollow Adventure Rider RadioInstagramFacebookAbout the PodcastSince 2014, Adventure Rider Radio has shared adventure motorcycle travel stories, Rider Skills, Deep Trouble episodes, tech and gear features, and conversations with riders from around the world. New episodes of ARR are released every Thursday, with new episodes of RAW released monthly on the 21st. ★ Support this podcast on Patreon ★

Adv. Stefanie Fick – uitvoerende direkteur, Outa Volg RSG Geldsake op Twitter

If you want to work with me one on one, visit my online academy here:https://www.skool.com/stokke-doubles-academy/aboutFor 10% off your next ADV purchase, click here:https://www.advtennis.pro/JONATHAN70538We talk:1:12 Red clay vs green clay2:34 Keeping your balance on clay4:27 What makes the clay at Roland Garros special5:53 The heat in Paris8:05 Racket tension12:04 Tactics in the heat13:40 Covering the slice lob18:22 Return variety19:50 Playing in the big moments

As we celebrate 12 years of Adventure Rider Radio motorcycle podcast, we're bringing back a story that still resonates today. Drawn together by motorcycles and a shared curiosity about the world, Maryna Matthew and Paul Knibbs left behind the security of established careers to pursue a life of adventure. Their journey is a powerful reminder that some of life's greatest opportunities begin with a single decision: to stop waiting and simply say yes.Links & ResourcesPhotos, links, and resources for this episodeMore episodes: Adventure Rider Radio and RAWSupport the show: Support ARRFollow Adventure Rider RadioInstagramFacebookAbout the PodcastSince 2014, Adventure Rider Radio has shared adventure motorcycle travel stories, Rider Skills, Deep Trouble episodes, tech and gear features, and conversations with riders from around the world. New episodes of ARR are released every Thursday, with new episodes of RAW released monthly on the 21st. ★ Support this podcast on Patreon ★

Download the “65 Investment Terms You MUST Know to Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/  In this episode of Today's Market Explained, Brian Kasal and Chris Reardon break down the forces driving one of the strongest market rallies in recent memory. From technology's stunning comeback and Micron's meteoric rise to persistent inflation pressures and the Federal Reserve's evolving outlook, they explore why investors are pouring capital into AI-driven opportunities — and whether the excitement is becoming excessive.They also examine the growing gap between market optimism and economic reality, discuss why the housing market remains frozen despite strong demand, and explore how AI could reshape productivity, earnings growth, and entire industries over the coming decade.

One of the most frightening situations a rider can face is realizing the bike won't slow down on a long, steep mountain descent. That's exactly what happened to Seth Cooper in Costa Rica. In this episode of DEEP TROUBLE, Seth shares how a rented KTM 690 Enduro R, an unfamiliar mountain road, and a series of seemingly manageable decisions combined to create a genuine survival situation. It's a story about risk, assumptions, bike condition, route choice, and how options can disappear faster than you expect.Links & ResourcesPhotos, links, and resources for this episodeMore episodes: Adventure Rider Radio and RAWSupport the show: Support ARRFollow Adventure Rider RadioInstagramFacebookAbout the PodcastSince 2014, Adventure Rider Radio has shared adventure motorcycle travel stories, Rider Skills, Deep Trouble episodes, tech and gear features, and conversations with riders from around the world. New episodes of ARR are released every Thursday, with new episodes of RAW released monthly on the 21st. ★ Support this podcast on Patreon ★

John Maytham is joined by Adv. Glynnis Breytenbach, DA Spokesperson on Justice and Constitutional Development, to unpack the legal and constitutional implications of the standoff between Parliament and the courts. Presenter John Maytham is an actor and author-turned-talk radio veteran and seasoned journalist. His show serves a round-up of local and international news coupled with the latest in business, sport, traffic and weather. The host’s eclectic interests mean the program often surprises the audience with intriguing book reviews and inspiring interviews profiling artists. A daily highlight is Rapid Fire, just after 5:30pm. CapeTalk fans call in, to stump the presenter with their general knowledge questions. Another firm favourite is the humorous Thursday crossing with award-winning journalist Rebecca Davis, called “Plan B”. Thank you for listening to a podcast from Afternoon Drive with John Maytham Listen live on Primedia+ weekdays from 15:00 and 18:00 (SA Time) to Afternoon Drive with John Maytham broadcast on CapeTalk https://buff.ly/NnFM3Nk For more from the show go to https://buff.ly/BSFy4Cn or find all the catch-up podcasts here https://buff.ly/n8nWt4x Subscribe to the CapeTalk Daily and Weekly Newsletters https://buff.ly/sbvVZD5 Follow us on social media: CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/CapeTalk CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567 See omnystudio.com/listener for privacy information.

Aubrey Masango speaks to Adv. Sipho Mantula from the Thabo Mbeki African School of Public and International Affairs about pan-Africanism, what it means, and how it relates to South Africa’s immigration unrest. Tags: 702, Aubrey Masango show, Aubrey Masango, Bra Aubrey, Africa at a Glance, Adv. Sipho Mantula, Pan-Africanism, Illegal immigrants, Xenophobia, Ghana, Nigeria The Aubrey Masango Show is presented by late night radio broadcaster Aubrey Masango. Aubrey hosts in-depth interviews on controversial political issues and chats to experts offering life advice and guidance in areas of psychology, personal finance and more. All Aubrey’s interviews are podcasted for you to catch-up and listen. Thank you for listening to this podcast from The Aubrey Masango Show. Listen live on weekdays between 20:00 and 24:00 (SA Time) to The Aubrey Masango Show broadcast on 702 https://buff.ly/gk3y0Kj and on CapeTalk between 20:00 and 21:00 (SA Time) https://buff.ly/NnFM3Nk Find out more about the show here https://buff.ly/lzyKCv0 and get all the catch-up podcasts https://buff.ly/rT6znsn Subscribe to the 702 and CapeTalk Daily and Weekly Newsletters https://buff.ly/v5mfet Follow us on social media: 702 on Facebook: https://www.facebook.com/TalkRadio702 702 on TikTok: https://www.tiktok.com/@talkradio702 702 on Instagram: https://www.instagram.com/talkradio702/ 702 on X: https://x.com/Radio702 702 on YouTube: https://www.youtube.com/@radio702 CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/CapeTalk CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567See omnystudio.com/listener for privacy information.

Hello boys and girls, Welcome to Episode 475 of The Motorcycle Men Podcast! Tonight, Ted, Tim, Chris, and Justin are back in the shed and ready to unleash another round of motorcycle talk, questionable insights, and the kind of laughter that only happens when four grown men pretend to run a professional show.We're catching up on a whole lineup of recent interviews — from the creators of the rock opera Suzy the Cycle Witch, to ADV guru Bret Tkacs, to roadside‑oddity legend Doug Kirby, to Holly Duttera of Ohio Bike Week, and even Norm Kern from the Motorcycle Sport Touring Association. If it's got wheels, weirdness, or a story, we've talked to it.We'll also dive into the National Days Calendar because apparently May is everything month: Paper Airplane Day, Blueberry Cheesecake Day, National Hamburger Month, National Barbecue Month, National Motorcycle Safety Awareness Month, and even International Drum Month. Basically, if you can celebrate it, someone decided May was the time.Then it's on to the stats — 468,879 downloads and counting. North America still leads the pack, Chicago is still our biggest U.S. city, and yes… we lost our listener in the South Sandwich Islands. But we picked up folks in Iceland, Bermuda, Cuba, Zimbabwe, and even Madagascar. The global weirdness continues.We'll hit the BINIT, talk about Woody's Ireland adventure, E15 fuel approvals, Harley‑Davidson products that aren't motorcycles, and the Motorcycle Podcasters Challenge.So grab a coffee, settle in, and let's talk about why these old Harleys still get under our skin and stay there. This is the Motorcycle Men Podcast — and the Cafe' is officially open.Please patronize our Wonderful Sponsors!!Tobacco Motorwear Scorpion Helmets  Wild-Ass Seats  Viking Bags Please take the time and help the families of fallen soldiers. Donate to: Gold Star Ride Foundation   Don't forget to get over and check out the Videos over on the RIDE WITH TED YouTube Channel Thanks for listening. We greatly appreciate your support. If you would like to support the podcast, Buy Us A Coffee.Ride Safe and remember....    .... We say stupid crap so you don't have to.  Support the show

Download the “65 Investment Terms You MUST Know to Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/  The markets are pushing to new highs again — technology stocks are roaring back, earnings continue to beat expectations, and risk appetite has returned across equities and commodities. At the same time, inflation is beginning to reaccelerate, oil prices remain elevated because of the Iran conflict, and the Federal Reserve is becoming increasingly cautious about future rate cuts.In this episode of Today's Market Explained, Brian Kasal and Chris Reardon unpack the unusual mix of strength and risk driving today's market environment. From one of the strongest Aprils since 2020 and booming manufacturing data to rising gasoline prices and geopolitical tension in the Middle East, they explore why markets still look bullish — even as inflation pressures quietly build beneath the surface.

A Solo Motorcycle Journey Across Morocco, Europe, and the Sahara Desert in Search of Freedom, Simplicity, and a Slower Way of LivingWhat happens when someone who's spent a lifetime chasing schedules, productivity, and control suddenly trades it all for the uncertainty of the open road on a motorcycle? After retiring from finance, Rob Bridges set off alone across Morocco, Europe, and the Sahara Desert on a six-month motorcycle journey—only to discover that the hardest part of the adventure wasn't the riding, but learning how to slow down.Links & ResourcesPhotos, links, and resources for this episodeMore episodes: Adventure Rider Radio and RAWSupport the show: Support ARRFollow Adventure Rider RadioInstagramFacebookAbout the PodcastSince 2014, Adventure Rider Radio has shared adventure motorcycle travel stories, Rider Skills, Deep Trouble episodes, tech and gear features, and conversations with riders from around the world. New episodes of ARR are released every Thursday, with new episodes of RAW released monthly on the 21st. ★ Support this podcast on Patreon ★

Hello boys and girls,Today on the show, we're sitting down with Bret Tkacs. Bret is one of the most respected names in adventure motorcycle training, known for his physics‑based teaching style, his ability to evaluate riders individually, and his mission to help ADV and dual‑sport riders ride smarter, safer, and with more confidence.We're going to dig into how he trains riders the way they naturally learn, why traditional training often falls short, and what makes his programs so transformative for riders at every level.WebsiteFacebookYouTubeInstagramPlease patronize our Wonderful Sponsors!!Tobacco Motorwear Scorpion Helmets  Wild-Ass Seats  Viking Bags Please take the time and help the families of fallen soldiers. Donate to: Gold Star Ride Foundation   Don't forget to get over and check out the Videos over on the RIDE WITH TED YouTube Channel Thanks for listening. We greatly appreciate your support. If you would like to support the podcast, Buy Us A Coffee.Ride Safe and remember....    .... We say stupid crap so you don't have to.Support the show

For more information about my NYC Doubles Camp, click here:www.stokketenniscoaching.comFor all the great ADV gear, click here:https://www.advtennis.pro/JONATHAN70538We talk:1:32 Player Identity6:39 When Players Are Confused With Their Identity19:08 Using Video21:55 Confidence Through Winning33:18 Pecking Order

Eva Strehler had already learned what drew her to the road on a motorcycle: freedom, movement, and a way of living outside the usual shape of things. Then she built a sidecar for her dog, Polly, and headed east. What followed was meant to be another long motorcycle journey — through Turkey, into Iran, and across landscapes that changed as quickly as the people she met along the way. But somewhere during the trip, the journey became about something else entirely. This is a conversation about travel, companionship, risk, solitude, and the moments that quietly change the meaning of a journey while you're still inside it.

What do you do when your adventure bike is buried in sand, lying sideways on a slope, or wedged deep in a rut miles from help? In this episode, Jim talks with Clinton Smout, Adam Owens, and Chris Birch about the mindset, techniques, and recovery tools riders use when things go wrong off-road. From smart trail-side decisions and energy-saving recovery methods to simple techniques that can turn a bad situation around, this episode is packed with practical knowledge every adventure rider should hear before they need it.

Want to check out my online academy? Click the link belowhttps://www.skool.com/stokke-doubles-academy/aboutWant to attend a future doubles camp?https://stokketenniscoaching.comClick here for 10% off your next ADV baghttps://www.advtennis.pro/JONATHAN70538We talk:1:21 Acute vs. chronic injuries4:15 Being consistent with your routines7:12 Lower cross syndrome11:40 Structural problems vs. functional problems13:23 Improving how you sit15:05 Hydration19:27 Best food during a match22:05 3 action steps you can take

Clif Holland shares a father-and-son motorcycle adventure that took an unexpected turn shortly after arriving at Big Bend National Park. After a 700-mile ride to reach the start of their backcountry route, the decision to explore before staging their gear set the tone for what followed. Riding a heavily loaded BMW R1200GS on remote backroads, Clif quickly found himself facing the challenges of sand, weight distribution, and the limited margin for error on big adventure bikes, which led to DEEP TROUBLE. We talk about backcountry riding and the importance of preparation, training, and testing your setup before tackling routes like the BDR.

Ellen & special guests, Ella Hubber and Tom Lum of Let's Learn Everything, turn our gazes to the skies and talk animals in space. We discuss the fruit fly fan club, the great big farm on the moon, which earthlings were ACTUALLY the first to make the trip around the moon and back, a spider escape where you least want it, why dentistry researchers had a snake room, shooting tardigrades out of a gun, and so much more. This one is truly out of this world. Works Cited & Further Reading: "Bioastronautics Research" video "This New Ocean: A History of Project Mercury" - Loyd S. Swenson, Jr., James M. Grimwood, Charles C. Alexander, NASA SP-4201 "Judith's Web - Student Experiment Aboard Skylab 3" - NASA.gov “URODELEAN AMPHIBIANS IN STUDIES ON MICROGRAVITY: EFFECTS UPON ORGAN AND TISSUE REGENERATION” - E.N. Grigoryan et al., Adv. Space Res, 2002 "From Undersea to Outer Space: The STS-40 Jellyfish Experiment" - NASA STI Program "For water bears, the glass is all full" - Tina Hesman Saey, Science News, December 2015 "Tardigrades survive exposure to space in low Earth orbit" - K. Ingemar Jonsson et al., Current Biology, September 2008 "What happened to those tardigrades sent to the Moon?" - Laurent Palka, The Conversation, February 2024 "Tardigrade Survival Limits in High-Speed Impacts—Implications for Panspermia and Collection of Samples from Plumes Emitted by Ice Worlds" - Alejandra Traspas & Mark J. Burchell, Astrobiology, July 2021 Links: Support our shows with your membership during the MaxFunDrive! Check out Let's Learn Everything! For more information about us & our podcast, head over to our website! Follow Just the Zoo of Us on BlueSky, Facebook, Instagram & Discord! Follow Ellen on Instagram or BlueSky! Happy MaxFunDrive! Right now is the best time to start a membership to support your favorite shows. Learn more and join at https://maximumfun.org/joinjustthezoo

Download the “65 Investment Terms You MUST Know to Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/  The markets are stabilizing after weeks of volatility — equities are regaining strength, sector leadership is rotating back toward growth, and earnings continue to surprise to the upside. At the same time, oil prices remain volatile due to geopolitical tensions, inflation is ticking higher again, and consumer sentiment has dropped to record lows, creating a complex and uneven economic backdrop.In this episode of Today's Market Explained, Brian Kasal and Chris Reardon break down the shifting dynamics across asset classes, sectors, and global markets. From the return of risk appetite in equities and a rebound in technology stocks to rising energy prices and evolving Federal Reserve expectations, they explore how markets are adapting to uncertainty — and why this still resembles a maturing bull market rather than a breakdown.

Luuk and Emma from the Netherlands are passionate dual-sport riders who have made it their mission to find that sweet spot between minimalist motorcycle travel and meaningful challenge. Riding their Honda CRF300L motorcycles, they're currently pushing themselves to travel as light as possible — aiming for just 9 kg of gear per person — while still tackling terrain that stretches their skills.

Part one of this quarter's edition of Unearthed! includes animals, artwork, edibles and potables, shipwrecks, potpourri. Research: Abdallah, Hannah. “Analysis of charred food in pot reveals that prehistoric Europeans had surprisingly complex cuisines.” EurekAlert. 3/4/2025. https://www.eurekalert.org/news-releases/1117763 Almeroth-Williams, Thomas. “British redcoat’s lost memoir reveals harsh realities of life as a disabled veteran.” EurekAlert. 1/14/2026. https://www.eurekalert.org/news-releases/1111595 Anderson, Sonja. “Does This Skeleton Found Beneath a Dutch Church Belong to D’Artagnan, the Man Who Inspired ‘The Three Musketeers’?” Smithsonian. 3/27/2026. https://www.smithsonianmag.com/smart-news/this-skeleton-found-beneath-the-floor-of-a-dutch-church-may-belong-to-dartagnan-the-fourth-musketeer-180988448/ Anderson, Sonja. “Historians Thought This Rare Renaissance Portrait by One of the First Famous Female Artists Was Lost to History—Until It Surfaced in North Carolina.” 2/3/2026. https://www.smithsonianmag.com/smart-news/historians-thought-this-rare-renaissance-portrait-by-one-of-the-first-famous-female-artists-was-lost-to-history-until-it-surfaced-in-north-carolina-180988120/ Anderson, Sonja. “Hundreds of Ancient Roman Blade Sharpeners Emerge From a Riverbank in England, Revealing the Ruins of a 2,000-Year-Old Whetstone Factory.” Smithsonian. 1/20/2026. https://www.smithsonianmag.com/smart-news/hundreds-of-ancient-roman-blade-sharpeners-emerge-from-a-riverbank-in-england-revealing-the-ruins-of-a-2000-year-old-whetstone-factory-180988016/ Anderson, Sonja. “The Italian Government Just Paid Nearly $35 Million for a Rare Caravaggio Portrait—One of the Most Expensive Artworks It’s Ever Acquired.” Smithsonian. 3/16/2026. https://www.smithsonianmag.com/smart-news/the-italian-government-just-paid-nearly-35-million-for-a-rare-Caravaggio-portrait-one-of-the-most-expensive-artworks-its-ever-acquired-180988344/ Arnold, Paul. “Poop as medicine? A Roman vial's chemistry backs up ancient medical texts.” Phys.org. 2/4/2026. https://phys.org/news/2026-02-poop-medicine-roman-vial-chemistry.html Arnold, Paul. “Scents of the afterlife: Identifying embalming recipes by 'sniffing' the air around Egyptian mummies.” Phys.org. 2/5/2026. https://phys.org/news/2026-02-scents-afterlife-embalming-recipes-sniffing.html#google_vignette Bacon, Jordan. “English history’s biggest march is a myth – King Harold sailed to the Battle of Hastings.” EurekAlert. 3/20/2026. https://www.eurekalert.org/news-releases/1120082 Bastola, Kunjal. “A Groundskeeper Noticed a Sinkhole on a Golf Course. It Turned Out to Be a Wine Cellar Full of Empty Bottles, Untouched for More Than 100 Years.” Smithsonian. 3/19/2026. https://www.smithsonianmag.com/smart-news/a-groundskeeper-noticed-a-sinkhole-on-a-golf-course-it-turned-out-to-be-a-wine-cellar-full-of-empty-bottles-untouched-for-more-than-100-years-180988379/ Bastola, Kunjal. “A Little Boy’s Library Book Was Due in 1989. Thirty-Six Years Later, He Realized His Parents Had Never Returned It.” Smithsonian. 1/26/2026. https://www.smithsonianmag.com/smart-news/a-little-boys-library-book-was-due-in-1989-thirty-six-years-later-he-realized-his-parents-had-never-returned-it-180988046/ Baum, Stephanie. “Ancient parrot DNA reveals sophisticated, long-distance animal trade network pre-dating the Inca Empire.” 3/10/2026. https://phys.org/news/2026-03-ancient-parrot-dna-reveals-sophisticated.html Baum, Stephanie. “From the Late Bronze Age to today, the Old Irish Goat carries 3,000 years of Irish history.” 2/26/2026. https://phys.org/news/2026-02-late-bronze-age-today-irish.html Benzine, Vittoria. “What Did Pompeii Smell Like? A New Study Analyzes Its Ancient Incense.” Artnet. 3/31/2026. https://news.artnet.com/art-world/pompeii-ritual-incense-study-2760240 Brooks, James. “Danish warship sunk by Nelson’s British fleet discovered after 225 years.” Associated Press. 4/2/2026. https://apnews.com/article/denmark-archaeologists-warship-nelson-copenhagen-dannebroge-lynetteholm-4519533d9e774a490f6020e893634e09 Carvajal, Guillermo. “Archaeologists achieve a historic milestone by dating French cave paintings with carbon-14 for the first time.” 3/10/2025. https://www.labrujulaverde.com/en/2026/03/archaeologists-achieve-a-historic-milestone-by-dating-french-cave-paintings-with-carbon-14-for-the-first-time/ Clayworth, Liv. “Bird poop powered the rise of the Chincha Kingdom, archaeologists find.” EurekAlert. 2/11/2026. https://www.eurekalert.org/news-releases/1115214 “Lost page of the Archimedes Palimpsest identified in Blois, central France.” Phys.org. 3/9/2026. https://phys.org/news/2026-03-lost-page-archimedes-palimpsest-blois.html Ehrlich, Claudia. “Signs on Stone Age objects: Precursor to written language dates back 40,000 years.” EurekAlert. 2/23/2026. https://www.eurekalert.org/news-releases/1117179 Ferrer, Isabel. “Is d’Artagnan lying beneath a church in Maastricht? DNA will determine if remains found are those of the famous musketeer.” El Pais. 3/25/2025. https://english.elpais.com/international/2026-03-25/is-dartagnan-lying-beneath-a-church-in-maastricht-dna-will-determine-if-remains-found-are-that-of-the-famous-musketeer.html?outputType=amp Gebauer, Kathryn. “Groundbreaking discovery reveals Africa’s oldest cremation pyre and complex ritual practices.” EurekAlert. 1/1/2016. https://www.eurekalert.org/news-releases/1111191 Harley, Sadie. “Iron Age dental plaque reveals Scythians consumed milk from horses and ruminants.” Phys.org. 1/21/2026. https://phys.org/news/2026-01-iron-age-dental-plaque-reveals.html He, Ye. “Singapore’s first ancient shipwreck reveals record cargo of Yuan dynasty blue-and-white porcelain.” EurekAlert. 2/12/2026. https://www.eurekalert.org/news-releases/1116512 Johansen, Rikke Tørnsø. “Archaeologists reveal a medieval super ship: "It's the World’s largest cog".” Vikingeskibs Museet. 12/22/2025. https://www.vikingeskibsmuseet.dk/en/news/archaeologists-reveal-a-medieval-super-ship-its-the-worlds-largest-cog Kasal, Krystal. “Hannibal's famous war elephants: Single bone in Spain offers first direct evidence.” Phys.org. 2/5/2026. https://phys.org/news/2026-02-hannibal-famous-war-elephants-bone.html Kasal, Krystal. “Oldest known sewn hide and other artifacts from Oregon caves shed light on early clothing in harsh climates.” Phys.org. 2/10/2026. https://phys.org/news/2026-02-oldest-sewn-artifacts-oregon-caves.html Killgrove, Kristina. “Romans used human feces as medicine 1,900 years ago — and used thyme to mask the smell.” 1/29/2026. https://www.livescience.com/archaeology/romans/romans-used-human-feces-as-medicine-1-900-years-ago-and-used-thyme-to-mask-the-smell Killgrove, Kristina. “Stone Age woman was buried like a man, revealing flexible gender roles 7,000 years ago in Hungary.” LiveScience. 3/3/2026. https://www.livescience.com/archaeology/stone-age-woman-was-buried-like-a-man-revealing-flexible-gender-roles-7-000-years-ago-in-hungary Koc University. “Earliest evidence of indigo-dyed textiles and single-needle knitting discovered in Bronze Age Anatolia.” Phys.org. 2/21/2026. https://phys.org/news/2026-02-earliest-evidence-indigo-dyed-textiles.html Kuta, Sarah. “Did Neanderthals Use Birch Bark Tar as an Antibiotic to Treat Wounds and Infections?” Smithsonian. 3/30/2026. https://www.smithsonianmag.com/smart-news/did-neanderthals-use-birch-bark-tar-as-an-antibiotic-to-treat-wounds-and-infections-180988393/ Kuta, Sarah. “Ostrich Eggshells Suggest Our Ancestors May Have Understood Basic Geometry 60,000 Years Ago.” Smithsonian. 3/9/2026. https://www.smithsonianmag.com/smart-news/these-intricately-decorated-ostrich-eggshells-suggest-our-ancestors-may-have-understood-basic-geometry-60000-years-ago-180988315/ Kuta, Sarah. “Ötzi the Iceman May Have Carried a Cancer-Causing Strain of HPV, a Common Virus Still Plaguing Humans Today.” Smithsonian. 1/20/2026. https://www.smithsonianmag.com/smart-news/otzi-the-iceman-may-have-carried-a-cancer-causing-strain-of-hpv-a-common-virus-still-plaguing-humans-today-180988024/ Kuta, Sarah. “Shipwreck Timbers Appeared on a Beach After a Storm. They Had Been Buried Beneath the Sand Since the 17th Century.” Smithsonian. 3/2/2026. https://www.smithsonianmag.com/smart-news/shipwreck-timbers-appeared-on-a-beach-after-a-storm-they-had-been-buried-beneath-the-sand-since-the-17th-century-180988260/ Lawson-Tancred, Jo. “Salvador Dalí’s Largest Work Snapped Up by Florida Museum.” Artnet. 3/27/2026. https://news.artnet.com/market/salvador-dali-largest-work-bonhams-sale-2749246 Lock, Lisa. “Ancient DNA finds 15,800-year-old dogs in Anatolia, buried like humans.” Phys.org. 3/28/2026. https://phys.org/news/2026-03-ancient-dna-year-dogs-anatolia.html Lock, Lisa. “Are one in 200 men really related to Genghis Khan? Maybe not, according to a new study.” Phys.org. 2/21/2026. https://phys.org/news/2026-02-men-genghis-khan.html Lucibella, Michael. “Prehistoric tool made from elephant bone is the oldest discovered in Europe.” EurekAlert. 1/26/2026. https://www.eurekalert.org/news-releases/1113140 Luscombe, Richard. “Mass grave in Jordan sheds new light on world’s earliest recorded pandemic.” The Guardian. 1/31/2026. https://www.theguardian.com/science/2026/jan/31/plague-of-justinian-pandemic net. “Did King Harold Sail to Hastings? New Study Sparks Debate Among Historians.” 3/2026. https://www.medievalists.net/2026/03/did-king-harold-sail-to-hastings-new-study-sparks-debate-among-historians/ net. “Viking-Age Woman Buried with Her Dog in Norway.” 3/2026. https://www.medievalists.net/2026/03/viking-age-woman-buried-with-her-dog-in-norway/ Newcastle University Press Office. “5,300-year-old ‘bow drill’ rewrites story of ancient Egyptian tools.” 2/9/2026. https://www.ncl.ac.uk/press/articles/latest/2026/02/ancientegyptiandrillbit/ Noraz, R., Chauvey, L., Wagner, S. et al. Ancient DNA reveals 4000 years of grapevine diversity, viticulture and clonal propagation in France. Nat Commun 17, 2494 (2026). https://doi.org/10.1038/s41467-026-70166-z Nordin, Gunilla. “World’s oldest arrow poison – 60,000-year-old traces reveal early advanced hunting techniques.” 1/7/2026. https://www.eurekalert.org/news-releases/1111624 Parco Archaeologico de Ercolano. “Archaeology: New precious decorations discovered at Villa Sora in the Herculaneum Park.” 2/5/2026. https://ercolano.cultura.gov.it/archaeology-new-precious-decorations-discovered-at-villa-sora-in-the-herculaneum-park/?lang=en Paul, Andrew. “Hiker finds 3,000-year-old bull sculpture in Spain.” Popular Science. 3/17/2026. https://www.popsci.com/science/hiker-finds-bronze-age-bull-spain/ Potter, Lisa. “A wild potato that changed the story of agriculture in the American Southwest.” EurekAlert. 1/21/2026. https://www.eurekalert.org/news-releases/1113056 “Digital scans unveil new love notes and sketches on ancient Pompeii wall.” 1/19/2026. https://www.reuters.com/science/digital-scans-unveil-new-love-notes-sketches-ancient-pompeii-wall-2026-01-19/ Richard L. Rosencrance et al. ,Complex perishable technologies from the North American Great Basin reveal specialized Late Pleistocene adaptations. Sci. Adv. 12, eaec2916(2026).DOI:10.1126/sciadv.aec2916 Ruse, Amy. “Tasmanian tiger lives on in Arnhem Land rock art.” EurekAlert. 3/30/2026. https://www.eurekalert.org/news-releases/1121955 Ruse, Amy. “World’s oldest rock art holds clues to early human migration to Australia.” EurekAlert. 1/21/2026. https://www.eurekalert.org/news-releases/1112900 Siehoff, Jonas. “Hygienic conditions in Pompeii's early baths were poor.” 1/12/2026. https://www.eurekalert.org/news-releases/1112403 Taçon, P. S. C., A.Jalandoni, S. K.May, J.Nganjmirra, and C.Mungulda. 2026. “The Devil Is in the Detail: Tasmanian Devil and Tasmanian Tiger Paintings From Awunbarna and Injalak Hill, Northern Territory, Australia.” Archaeology in Oceania. https://doi.org/10.1002/arco.70024 The History Blog. “$40 estate sale find by early African-American silversmith sells for $24,000.” 2/4/2026. https://www.thehistoryblog.com/archives/75294 The History Blog. “43,000 ostraca found at one site shed light on social history of Egypt.” 5/15/2026. https://www.thehistoryblog.com/archives/75609 The History Blog. “British Museum acquires Tudor Heart.” 2/10/2026. https://www.thehistoryblog.com/archives/75343 The History Blog. “Exceptional Roman cargo shipwreck found in Lake Neuchâtel.” 3/29/2026. https://www.thehistoryblog.com/archives/75705 The History Blog. “Extraordinary find: 10th c. bronze wheel cross matches mold found 43 years ago.” 1/24/2026. https://www.thehistoryblog.com/archives/75220 The History Blog. “Previously unknown Hans Baldung Grien portrait emerges after 500 years in the sitter’s family.” 1/17/2026. https://www.thehistoryblog.com/archives/75161 The History Blog. “Roman wooden writing tablets from Belgium deciphered.” 1/22/2206. https://www.thehistoryblog.com/archives/75207 Thomas, Laura. “A century-old Stonehenge mystery may finally be solved.” Science Daily. 1/27/2026. https://www.sciencedaily.com/releases/2026/01/260127010208.htm Thorsberg, Christian. “The National Gallery of Art Acquires 17th-Century Masterpiece by Baroque Painter Artemisia Gentileschi.” Smithsonian. 2/7/2026. https://www.smithsonianmag.com/smart-news/the-national-gallery-of-art-acquired-17th-century-masterpiece-by-baroque-painter-artemisia-gentileschi-180988147/ Thorsberg, Christian. “This Luxury Steamer Disappeared on a Stormy Night in 1872. Nearly 150 Years Later to the Day, It Was Found at the Bottom of Lake Michigan.” Smithsonian. 2/18/2026. https://www.smithsonianmag.com/smart-news/this-luxury-steamer-disappeared-on-a-stormy-night-in-1872-nearly-150-years-to-the-day-it-was-found-in-the-bottom-of-lake-michigan-180988204/ Unibo Magazine. “Humanity’s oldest geometries, engraved on ostrich eggs.” https://magazine.unibo.it/en/articles/humanitys-oldest-geometries-engraved-on-ostrich-eggs University of Tübingen. “Earliest hand-held wooden tools found in Greece date back 430,000 years.” Phys.org. 1/1/2026. https://phys.org/news/2026-01-earliest-held-wooden-tools-greece.html Villotte, S., T.Szeniczey, S.Kacki, and A.Anders. 2026. “Fixed and Fluid: The Two Faces of Gender Roles—A Combined Study of Activity Patterns and Burial Practices in the European Neolithic.” American Journal of Biological Anthropology189, no. 2: e70217. https://doi.org/10.1002/ajpa.70217. Whiddington, Richard. “3,300-Year-Old Papyrus Reveals How Ancient Egyptians Fixed Drawing Mistakes.” ArtNet. 3/9/2026. https://news.artnet.com/art-world/ancient-egyptian-papyrus-white-out-fluid-2752125 Whiddington, Richard. “Long-Lost Archimedes Text Resurfaces in French Museum.” Artnet. 3/11/2026. https://news.artnet.com/art-world/lost-page-of-archimedes-palimpsest-found-2753005 Whiddington, Richard. “Lost Parthenon Piece Unearthed From Lord Elgin’s Shipwreck.” ArtNet. 3/19/2026. https://news.artnet.com/art-world/parthenon-fragment-lord-elgin-shipwreck-2755894 Zeilsgtra, Andrew. “Breathing in the past: How museums can use biomolecular archaeology to bring ancient scents to life.” EurekAlert. 2/5/2026. https://www.eurekalert.org/news-releases/1114918 Zinin, Andrew. “600-year-old pinot noir grape found in medieval French toilet.” Phys.org. 3/24/2026. https://phys.org/news/2026-03-year-pinot-noir-grape-medieval.html#google_vignette See omnystudio.com/listener for privacy information.

Part one of this quarter's edition of Unearthed! features updates, medical things, books and letters, oldest known things, and smells. Research: Abdallah, Hannah. “Analysis of charred food in pot reveals that prehistoric Europeans had surprisingly complex cuisines.” EurekAlert. 3/4/2025. https://www.eurekalert.org/news-releases/1117763 Almeroth-Williams, Thomas. “British redcoat’s lost memoir reveals harsh realities of life as a disabled veteran.” EurekAlert. 1/14/2026. https://www.eurekalert.org/news-releases/1111595 Anderson, Sonja. “Does This Skeleton Found Beneath a Dutch Church Belong to D’Artagnan, the Man Who Inspired ‘The Three Musketeers’?” Smithsonian. 3/27/2026. https://www.smithsonianmag.com/smart-news/this-skeleton-found-beneath-the-floor-of-a-dutch-church-may-belong-to-dartagnan-the-fourth-musketeer-180988448/ Anderson, Sonja. “Historians Thought This Rare Renaissance Portrait by One of the First Famous Female Artists Was Lost to History—Until It Surfaced in North Carolina.” 2/3/2026. https://www.smithsonianmag.com/smart-news/historians-thought-this-rare-renaissance-portrait-by-one-of-the-first-famous-female-artists-was-lost-to-history-until-it-surfaced-in-north-carolina-180988120/ Anderson, Sonja. “Hundreds of Ancient Roman Blade Sharpeners Emerge From a Riverbank in England, Revealing the Ruins of a 2,000-Year-Old Whetstone Factory.” Smithsonian. 1/20/2026. https://www.smithsonianmag.com/smart-news/hundreds-of-ancient-roman-blade-sharpeners-emerge-from-a-riverbank-in-england-revealing-the-ruins-of-a-2000-year-old-whetstone-factory-180988016/ Anderson, Sonja. “The Italian Government Just Paid Nearly $35 Million for a Rare Caravaggio Portrait—One of the Most Expensive Artworks It’s Ever Acquired.” Smithsonian. 3/16/2026. https://www.smithsonianmag.com/smart-news/the-italian-government-just-paid-nearly-35-million-for-a-rare-Caravaggio-portrait-one-of-the-most-expensive-artworks-its-ever-acquired-180988344/ Arnold, Paul. “Poop as medicine? A Roman vial's chemistry backs up ancient medical texts.” Phys.org. 2/4/2026. https://phys.org/news/2026-02-poop-medicine-roman-vial-chemistry.html Arnold, Paul. “Scents of the afterlife: Identifying embalming recipes by 'sniffing' the air around Egyptian mummies.” Phys.org. 2/5/2026. https://phys.org/news/2026-02-scents-afterlife-embalming-recipes-sniffing.html#google_vignette Bacon, Jordan. “English history’s biggest march is a myth – King Harold sailed to the Battle of Hastings.” EurekAlert. 3/20/2026. https://www.eurekalert.org/news-releases/1120082 Bastola, Kunjal. “A Groundskeeper Noticed a Sinkhole on a Golf Course. It Turned Out to Be a Wine Cellar Full of Empty Bottles, Untouched for More Than 100 Years.” Smithsonian. 3/19/2026. https://www.smithsonianmag.com/smart-news/a-groundskeeper-noticed-a-sinkhole-on-a-golf-course-it-turned-out-to-be-a-wine-cellar-full-of-empty-bottles-untouched-for-more-than-100-years-180988379/ Bastola, Kunjal. “A Little Boy’s Library Book Was Due in 1989. Thirty-Six Years Later, He Realized His Parents Had Never Returned It.” Smithsonian. 1/26/2026. https://www.smithsonianmag.com/smart-news/a-little-boys-library-book-was-due-in-1989-thirty-six-years-later-he-realized-his-parents-had-never-returned-it-180988046/ Baum, Stephanie. “Ancient parrot DNA reveals sophisticated, long-distance animal trade network pre-dating the Inca Empire.” 3/10/2026. https://phys.org/news/2026-03-ancient-parrot-dna-reveals-sophisticated.html Baum, Stephanie. “From the Late Bronze Age to today, the Old Irish Goat carries 3,000 years of Irish history.” 2/26/2026. https://phys.org/news/2026-02-late-bronze-age-today-irish.html Benzine, Vittoria. “What Did Pompeii Smell Like? A New Study Analyzes Its Ancient Incense.” Artnet. 3/31/2026. https://news.artnet.com/art-world/pompeii-ritual-incense-study-2760240 Brooks, James. “Danish warship sunk by Nelson’s British fleet discovered after 225 years.” Associated Press. 4/2/2026. https://apnews.com/article/denmark-archaeologists-warship-nelson-copenhagen-dannebroge-lynetteholm-4519533d9e774a490f6020e893634e09 Carvajal, Guillermo. “Archaeologists achieve a historic milestone by dating French cave paintings with carbon-14 for the first time.” 3/10/2025. https://www.labrujulaverde.com/en/2026/03/archaeologists-achieve-a-historic-milestone-by-dating-french-cave-paintings-with-carbon-14-for-the-first-time/ Clayworth, Liv. “Bird poop powered the rise of the Chincha Kingdom, archaeologists find.” EurekAlert. 2/11/2026. https://www.eurekalert.org/news-releases/1115214 “Lost page of the Archimedes Palimpsest identified in Blois, central France.” Phys.org. 3/9/2026. https://phys.org/news/2026-03-lost-page-archimedes-palimpsest-blois.html Ehrlich, Claudia. “Signs on Stone Age objects: Precursor to written language dates back 40,000 years.” EurekAlert. 2/23/2026. https://www.eurekalert.org/news-releases/1117179 Ferrer, Isabel. “Is d’Artagnan lying beneath a church in Maastricht? DNA will determine if remains found are those of the famous musketeer.” El Pais. 3/25/2025. https://english.elpais.com/international/2026-03-25/is-dartagnan-lying-beneath-a-church-in-maastricht-dna-will-determine-if-remains-found-are-that-of-the-famous-musketeer.html?outputType=amp Gebauer, Kathryn. “Groundbreaking discovery reveals Africa’s oldest cremation pyre and complex ritual practices.” EurekAlert. 1/1/2016. https://www.eurekalert.org/news-releases/1111191 Harley, Sadie. “Iron Age dental plaque reveals Scythians consumed milk from horses and ruminants.” Phys.org. 1/21/2026. https://phys.org/news/2026-01-iron-age-dental-plaque-reveals.html He, Ye. “Singapore’s first ancient shipwreck reveals record cargo of Yuan dynasty blue-and-white porcelain.” EurekAlert. 2/12/2026. https://www.eurekalert.org/news-releases/1116512 Johansen, Rikke Tørnsø. “Archaeologists reveal a medieval super ship: "It's the World’s largest cog".” Vikingeskibs Museet. 12/22/2025. https://www.vikingeskibsmuseet.dk/en/news/archaeologists-reveal-a-medieval-super-ship-its-the-worlds-largest-cog Kasal, Krystal. “Hannibal's famous war elephants: Single bone in Spain offers first direct evidence.” Phys.org. 2/5/2026. https://phys.org/news/2026-02-hannibal-famous-war-elephants-bone.html Kasal, Krystal. “Oldest known sewn hide and other artifacts from Oregon caves shed light on early clothing in harsh climates.” Phys.org. 2/10/2026. https://phys.org/news/2026-02-oldest-sewn-artifacts-oregon-caves.html Killgrove, Kristina. “Romans used human feces as medicine 1,900 years ago — and used thyme to mask the smell.” 1/29/2026. https://www.livescience.com/archaeology/romans/romans-used-human-feces-as-medicine-1-900-years-ago-and-used-thyme-to-mask-the-smell Killgrove, Kristina. “Stone Age woman was buried like a man, revealing flexible gender roles 7,000 years ago in Hungary.” LiveScience. 3/3/2026. https://www.livescience.com/archaeology/stone-age-woman-was-buried-like-a-man-revealing-flexible-gender-roles-7-000-years-ago-in-hungary Koc University. “Earliest evidence of indigo-dyed textiles and single-needle knitting discovered in Bronze Age Anatolia.” Phys.org. 2/21/2026. https://phys.org/news/2026-02-earliest-evidence-indigo-dyed-textiles.html Kuta, Sarah. “Did Neanderthals Use Birch Bark Tar as an Antibiotic to Treat Wounds and Infections?” Smithsonian. 3/30/2026. https://www.smithsonianmag.com/smart-news/did-neanderthals-use-birch-bark-tar-as-an-antibiotic-to-treat-wounds-and-infections-180988393/ Kuta, Sarah. “Ostrich Eggshells Suggest Our Ancestors May Have Understood Basic Geometry 60,000 Years Ago.” Smithsonian. 3/9/2026. https://www.smithsonianmag.com/smart-news/these-intricately-decorated-ostrich-eggshells-suggest-our-ancestors-may-have-understood-basic-geometry-60000-years-ago-180988315/ Kuta, Sarah. “Ötzi the Iceman May Have Carried a Cancer-Causing Strain of HPV, a Common Virus Still Plaguing Humans Today.” Smithsonian. 1/20/2026. https://www.smithsonianmag.com/smart-news/otzi-the-iceman-may-have-carried-a-cancer-causing-strain-of-hpv-a-common-virus-still-plaguing-humans-today-180988024/ Kuta, Sarah. “Shipwreck Timbers Appeared on a Beach After a Storm. They Had Been Buried Beneath the Sand Since the 17th Century.” Smithsonian. 3/2/2026. https://www.smithsonianmag.com/smart-news/shipwreck-timbers-appeared-on-a-beach-after-a-storm-they-had-been-buried-beneath-the-sand-since-the-17th-century-180988260/ Lawson-Tancred, Jo. “Salvador Dalí’s Largest Work Snapped Up by Florida Museum.” Artnet. 3/27/2026. https://news.artnet.com/market/salvador-dali-largest-work-bonhams-sale-2749246 Lock, Lisa. “Ancient DNA finds 15,800-year-old dogs in Anatolia, buried like humans.” Phys.org. 3/28/2026. https://phys.org/news/2026-03-ancient-dna-year-dogs-anatolia.html Lock, Lisa. “Are one in 200 men really related to Genghis Khan? Maybe not, according to a new study.” Phys.org. 2/21/2026. https://phys.org/news/2026-02-men-genghis-khan.html Lucibella, Michael. “Prehistoric tool made from elephant bone is the oldest discovered in Europe.” EurekAlert. 1/26/2026. https://www.eurekalert.org/news-releases/1113140 Luscombe, Richard. “Mass grave in Jordan sheds new light on world’s earliest recorded pandemic.” The Guardian. 1/31/2026. https://www.theguardian.com/science/2026/jan/31/plague-of-justinian-pandemic net. “Did King Harold Sail to Hastings? New Study Sparks Debate Among Historians.” 3/2026. https://www.medievalists.net/2026/03/did-king-harold-sail-to-hastings-new-study-sparks-debate-among-historians/ net. “Viking-Age Woman Buried with Her Dog in Norway.” 3/2026. https://www.medievalists.net/2026/03/viking-age-woman-buried-with-her-dog-in-norway/ Newcastle University Press Office. “5,300-year-old ‘bow drill’ rewrites story of ancient Egyptian tools.” 2/9/2026. https://www.ncl.ac.uk/press/articles/latest/2026/02/ancientegyptiandrillbit/ Noraz, R., Chauvey, L., Wagner, S. et al. Ancient DNA reveals 4000 years of grapevine diversity, viticulture and clonal propagation in France. Nat Commun 17, 2494 (2026). https://doi.org/10.1038/s41467-026-70166-z Nordin, Gunilla. “World’s oldest arrow poison – 60,000-year-old traces reveal early advanced hunting techniques.” 1/7/2026. https://www.eurekalert.org/news-releases/1111624 Parco Archaeologico de Ercolano. “Archaeology: New precious decorations discovered at Villa Sora in the Herculaneum Park.” 2/5/2026. https://ercolano.cultura.gov.it/archaeology-new-precious-decorations-discovered-at-villa-sora-in-the-herculaneum-park/?lang=en Paul, Andrew. “Hiker finds 3,000-year-old bull sculpture in Spain.” Popular Science. 3/17/2026. https://www.popsci.com/science/hiker-finds-bronze-age-bull-spain/ Potter, Lisa. “A wild potato that changed the story of agriculture in the American Southwest.” EurekAlert. 1/21/2026. https://www.eurekalert.org/news-releases/1113056 “Digital scans unveil new love notes and sketches on ancient Pompeii wall.” 1/19/2026. https://www.reuters.com/science/digital-scans-unveil-new-love-notes-sketches-ancient-pompeii-wall-2026-01-19/ Richard L. Rosencrance et al. ,Complex perishable technologies from the North American Great Basin reveal specialized Late Pleistocene adaptations. Sci. Adv. 12, eaec2916(2026).DOI:10.1126/sciadv.aec2916 Ruse, Amy. “Tasmanian tiger lives on in Arnhem Land rock art.” EurekAlert. 3/30/2026. https://www.eurekalert.org/news-releases/1121955 Ruse, Amy. “World’s oldest rock art holds clues to early human migration to Australia.” EurekAlert. 1/21/2026. https://www.eurekalert.org/news-releases/1112900 Siehoff, Jonas. “Hygienic conditions in Pompeii's early baths were poor.” 1/12/2026. https://www.eurekalert.org/news-releases/1112403 Taçon, P. S. C., A.Jalandoni, S. K.May, J.Nganjmirra, and C.Mungulda. 2026. “The Devil Is in the Detail: Tasmanian Devil and Tasmanian Tiger Paintings From Awunbarna and Injalak Hill, Northern Territory, Australia.” Archaeology in Oceania. https://doi.org/10.1002/arco.70024 The History Blog. “$40 estate sale find by early African-American silversmith sells for $24,000.” 2/4/2026. https://www.thehistoryblog.com/archives/75294 The History Blog. “43,000 ostraca found at one site shed light on social history of Egypt.” 5/15/2026. https://www.thehistoryblog.com/archives/75609 The History Blog. “British Museum acquires Tudor Heart.” 2/10/2026. https://www.thehistoryblog.com/archives/75343 The History Blog. “Exceptional Roman cargo shipwreck found in Lake Neuchâtel.” 3/29/2026. https://www.thehistoryblog.com/archives/75705 The History Blog. “Extraordinary find: 10th c. bronze wheel cross matches mold found 43 years ago.” 1/24/2026. https://www.thehistoryblog.com/archives/75220 The History Blog. “Previously unknown Hans Baldung Grien portrait emerges after 500 years in the sitter’s family.” 1/17/2026. https://www.thehistoryblog.com/archives/75161 The History Blog. “Roman wooden writing tablets from Belgium deciphered.” 1/22/2206. https://www.thehistoryblog.com/archives/75207 Thomas, Laura. “A century-old Stonehenge mystery may finally be solved.” Science Daily. 1/27/2026. https://www.sciencedaily.com/releases/2026/01/260127010208.htm Thorsberg, Christian. “The National Gallery of Art Acquires 17th-Century Masterpiece by Baroque Painter Artemisia Gentileschi.” Smithsonian. 2/7/2026. https://www.smithsonianmag.com/smart-news/the-national-gallery-of-art-acquired-17th-century-masterpiece-by-baroque-painter-artemisia-gentileschi-180988147/ Thorsberg, Christian. “This Luxury Steamer Disappeared on a Stormy Night in 1872. Nearly 150 Years Later to the Day, It Was Found at the Bottom of Lake Michigan.” Smithsonian. 2/18/2026. https://www.smithsonianmag.com/smart-news/this-luxury-steamer-disappeared-on-a-stormy-night-in-1872-nearly-150-years-to-the-day-it-was-found-in-the-bottom-of-lake-michigan-180988204/ Unibo Magazine. “Humanity’s oldest geometries, engraved on ostrich eggs.” https://magazine.unibo.it/en/articles/humanitys-oldest-geometries-engraved-on-ostrich-eggs University of Tübingen. “Earliest hand-held wooden tools found in Greece date back 430,000 years.” Phys.org. 1/1/2026. https://phys.org/news/2026-01-earliest-held-wooden-tools-greece.html Villotte, S., T.Szeniczey, S.Kacki, and A.Anders. 2026. “Fixed and Fluid: The Two Faces of Gender Roles—A Combined Study of Activity Patterns and Burial Practices in the European Neolithic.” American Journal of Biological Anthropology189, no. 2: e70217. https://doi.org/10.1002/ajpa.70217. Whiddington, Richard. “3,300-Year-Old Papyrus Reveals How Ancient Egyptians Fixed Drawing Mistakes.” ArtNet. 3/9/2026. https://news.artnet.com/art-world/ancient-egyptian-papyrus-white-out-fluid-2752125 Whiddington, Richard. “Long-Lost Archimedes Text Resurfaces in French Museum.” Artnet. 3/11/2026. https://news.artnet.com/art-world/lost-page-of-archimedes-palimpsest-found-2753005 Whiddington, Richard. “Lost Parthenon Piece Unearthed From Lord Elgin’s Shipwreck.” ArtNet. 3/19/2026. https://news.artnet.com/art-world/parthenon-fragment-lord-elgin-shipwreck-2755894 Zeilsgtra, Andrew. “Breathing in the past: How museums can use biomolecular archaeology to bring ancient scents to life.” EurekAlert. 2/5/2026. https://www.eurekalert.org/news-releases/1114918 Zinin, Andrew. “600-year-old pinot noir grape found in medieval French toilet.” Phys.org. 3/24/2026. https://phys.org/news/2026-03-year-pinot-noir-grape-medieval.html#google_vignette See omnystudio.com/listener for privacy information.

The Misfits Rally is in the bag, and oh what a fun time we had. There were street rides, ADV rides, dirtbiking, a food tour, games and more. But the best part about the rally is all of the people who attended. There were long nights in front of the fire pit, with drinks and stories being shared. Thanks to everyone who attended for making it the best rally to date. We were also fortunate to have Rob Day from ADV Moto Pros there offering private instruction. We sat down with Rob in front of an audience and talked to him about riding technique, the pros and cons of different off road bikes, and how much fun he had at the rally. The next day Emma entertained the crowd with a recording of Ask Miss Emma live. They asked her any technical questions they had, and Emma gave thorough answers. Thanks to Breaking Away Adventures, ADV Moto Pros and all of the Misfits who attended. What a great event! https://advmotopros.com/ https://www.breakingawayadventures.com/ www.motorcyclesandmisfits.com motorcyclesandmisfits@gmail.com www.breakingawayadventures.com/shop/p/mi…-rally-v4 www.patreon.com/motorcyclesandmisfits www.zazzle.com/store/recyclegarage www.youtube.com/channel/UC3wKZSP0J9FBGB79169ciew womenridersworldrelay.com/ motorcyclesandmisfits.com/shop

When the front tire starts to lose traction or the bike suddenly feels like it's about to go down, most riders react with some kind of defensive move that feels instinctively right. But is it? In this Rider Skills episode, Clinton Smout joins Jim Martin to look at what's really happening in those split-second moments when an adventure motorcycle starts to let go off-road — and why what feels like a save may not be one at all.

Planning a motorcycle trip? Whether you're riding close to home or heading off on a long-distance adventure, the right advice can make all the difference. In this episode, we've curated the best motorcycle travel tips and adventure riding advice from past conversations—bringing together practical insights from experienced riders who have spent years on the road. Featuring renowned motorcycle adventurers Sam Manicom, Tiffany Coates, and Michnus andElsebie Oliver, this episode covers essential motorcycle trip planning, packing tips, travel mindset, and real-world lessons from life on two wheels. Whether you're preparing for your first motorcycle tour or you're a seasoned adventure rider, these expert tips will help you plan smarter, pack better, and ride with confidence. Because when it comes to motorcycle travel, the best way to prepare… is to learn from those who've already done it.