Podcasts about Arm

In this episode of “Redefining Global Health in the 21st Century,” Ben speaks with authors Dr. mike Reed and Professor Eric Goosby about how COVID exposed the geopolitical ramifications of Global Health, using Serbia's vaccine deals with China, Russia, Pfizer, and AstraZeneca as a case study. They argue the era of a single global health superpower is fading and discuss a multipolar future shaped by “middle powers,” alongside the consequences of the US stepping back from traditional global health commitments, including leaving the WHO. The conversation critiques bureaucratic, duplicative governance and vaccine inequity, examines China's largely transactional health role and the limited donor potential of the BRICS nations, and warns that the US defunding of South Africa's HIV program harms HIV research more broadly. They call for stronger WHO implementation and decentralized rapid-response capacity, greater accountability, and less credit-seeking, while condemning tying lifesaving aid to transactional commercial arrangements, for example access to minerals and other commodities. 00:00 Serbia Vaccine Surprise 01:45 Multipolar Health Governance 05:04 US Retreat and Local Ownership 08:33 Why WHO Faces Critique 11:08 China Steps Into the Gap 17:04 BRICS Limits and Leverage 22:15 South Africa Research Stakes 24:54 WHO Reform and Decentralization 34:36 WHO Beyond Guidelines 36:29 Pandemic Governance Gaps 38:36 Climate Zoonoses Preparedness 39:45 Trust And Fragmentation 42:01 Rapid Response Blueprint 45:38 Inclusive Accountable Governance 49:36 Post Aid Future Financing 52:53 Hard Power Moral Costs 58:54 New Compact Conclusion 59:48 Humble Leadership Lessons 01:03:01 Thanks And Where To Listen Learn more about the book: https://bit.ly/redefining-global-health More from UCSF Institute for Global Health Sciences: https://globalhealthsciences.ucsf.edu Check out mike Reid's Substack: https://substack.com/@reimaginingglobalhealth Check out Ben's Substack: https://substack.com/@benplumley1 Join the Conversation! What would it take for global health to avoid decline? Share your thoughts in the comments! Subscribe & Stay Updated: Listen on Spotify, Apple Podcasts, or your favorite podcast platform. Watch on YouTube & subscribe for more in-depth global health — and look out for a dedicated sub channel for Redefining Global Health in the 21st Century under A Shot in the Arm's YouTube home. Redefining Global Health in the 21st Century: The Podcast (Playlist on Youtube) https://bit.ly/rgh-podcast A Shot in the Arm Podcast Youtube (Main Channel) https://youtube.com/@shotarmpodcast

Prezident Peter Pellegrini označil počas svojej nedávnej návštevy Azerbajdžan za garanta stability a to napriek vojne o Náhorný Karabach, ktorú zviedol s Arménskom. Spolu s premiérom Ficom hovoria o Baku ako o strategickom partnerovi, ktorý môže nahradiť ruský plyn. Je to však reálne? A prečo ho tak nekriticky chvália a zbroja, rozoberáme s expertom na Kaukaz Jánom Cingelom.

In der heutigen Folge sprechen die Finanzjournalisten Lea Oetjen und Moritz Seyffarth über Chips im Bärenmarkt, Boeings neue Hoffnung und was in dieser Woche sonst noch wichtig wird. Außerdem geht es um Apple, Nvidia, Meta, Alphabet, Netflix, Uber, Delivery Hero, Intuitive Surgical, Microsoft, Amazon, Alibaba, Baidu, Cisco, Micron Technology, AMD, Broadcom, TSMC, Qualcomm, Intel, Arm, Leverage Shares 2x Micron Technology ETP Securities (WKN: A3GUFU), Leverage Shares -3x Short Semiconductors (WKN: A4A5UP) und Leverage Shares -3x Short SpaceX (WKN: A4AVLN). Das ist der Link zum Artikel von Daniel: https://www.welt.de/wirtschaft/plus6a59e8adc72232627649939a/etps-auf-einzelaktien-die-479-prozent-wette-auf-den-ki-boom.html Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Hier könnt ihr den AAA-Newsletter abonnieren: https://www.welt.de/newsletter/article232797673/Alles-auf-Aktien-Der-taegliche-Boersen-Newsletter-fuer-WELTplus-Abonnenten.html Und – ganz neu: AAA gibt es jetzt auch auf Instagram: https://www.instagram.com/alles_auf_aktien/ Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Anzeige: Diese Folge enthält Werbung für Smartbroker+. Depot eröffnen, 30 € ETF als Bonus sichern und aus tausenden ETFs wählen. Smartbroker+ macht Investieren einfach. Alle Informationen gibt es unter: https://get.smartbrokerplus.de/triple-aaa-podcast2/ Anzeige: Eight Sleep: Der Pod 5 reguliert die Temperatur im Bett automatisch, trackt Schlaf- und Gesundheitswerte ohne Wearable und kann so zu besserem Schlaf beitragen. Mit dem Code ALLESAUFAKTIEN erhaltet ihr auf https://www.eightsleep.com/allesaufaktien bis zu 350 Euro Rabatt. Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

durée : 00:01:57 - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

durée : 00:03:09 - Le maire de Tarbes, Pascal Claverie, a rendez-vous ce lundi au ministère des Armées pour parler de l'avenir des Forges de Tarbes. L'entreprise est à vendre, au moins un repreneur serait intéressé. Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

durée : 00:02:39 - par : Sarah Lemoine - Pour recruter des militaires, le ministère des Armées ne lésine jamais sur les grandes campagnes de communication nationale. Une fois n'est pas coutume, il vient d'en lancer une sur les métiers civils du ministère. Ces personnels souffrent d'un déficit de notoriété et sont concurrencés par le secteur privé. Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

Platzt jetzt die KI-Blase? Halbleiter-Aktien wie SanDisk, Micron, SK Hynix und Arm brechen massiv ein, der KOSPI crasht – doch ASML und TSMC liefern starke Zahlen. Ist der Chip-Crash eine Warnung oder entsteht gerade eine neue Chance für Anleger? In der neuen Ausgabe von „Das Briefing“ analysieren wir die wichtigsten Börsen-Themen der Woche: die globale Halbleiter-Krise, den Ausverkauf bei Chip- und KI-Aktien, die Quartalszahlen von ASML und TSMC, die neue Stärke des Russell 2000, die positiv überraschenden US-Inflationsdaten sowie den hohen Ölpreis und die Folgen des Iran-Kriegs. Unsere klare These: Die KI-Story ist nicht vorbei. Nach dem heftigen Abverkauf sind ausgewählte Halbleiter-Aktien wieder deutlich attraktiver bewertet und teilweise günstiger als zu Jahresbeginn. Gleichzeitig zeigen die Zahlen der wichtigsten Unternehmen der Chip-Lieferkette, dass die fundamentale Nachfrage nach KI-Rechenleistung, Speicherchips und modernster Halbleitertechnik weiterhin stark ist. Die entscheidende Frage lautet deshalb: Platzt gerade wirklich die KI-Blase – oder erleben wir lediglich eine überfällige Bereinigung nach einer extremen Rally? Diese Themen erwarten euch im neuen Briefing:

durée : 00:02:21 - Marine Le Pen accuse un rapport sénatorial de franchir une "ligne rouge" en proposant un observatoire indépendant de la désinformation. Ses auteurs assurent pourtant qu'il ne s'agit pas de limiter la liberté d'expression, mais de mieux lutter contre les campagnes de manipulation. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

With Constantine Hatzivassiliou—Partner, Certuity Golf taught Constantine Hatzivassiliou how to perform under pressure. Building a nearly $5B multi-family office taught him that the best advisors become the first call when life, not just the markets, gets complicated. In Summary Many advisors spend years mastering investments, but for affluent families, portfolio management is often just the starting point. Jason Diamond welcomes Constantine Hatzivassiliou, Partner at Certuity, to discuss how his journey from aspiring professional golfer to leader of a nearly $5B multi-family office shaped his approach to client service. Their conversation explores why trust is earned long before a crisis, how family office services evolve naturally from client needs, and why the advisor's role increasingly resembles that of a quarterback coordinating every aspect of a family's financial life. The discussion also examines organic growth, referrals, fiduciary advice, private equity's impact on the RIA landscape, and the qualities that allow advisors to become indispensable over decades—not just market cycles. The Storyline Many advisors spend years perfecting investment management. But as clients become more successful, the job changes. The questions become bigger than portfolio construction. A business is being sold. A family dynamic shifts. A tax issue emerges. An estate plan needs updating. Suddenly, the advisor isn't simply managing assets—they're coordinating decisions, relationships, and emotions. For Constantine, that broader role was shaped long before he entered wealth management. As an aspiring professional golfer, he learned lessons about discipline, preparation, and performing under pressure that continue to influence how he serves clients today. Jason and Constantine explore how Certuity grew from approximately $210 million in assets to nearly $5B, not through acquisitions but through referrals and a service model built on becoming indispensable to the families they advise. Constantine explains why he believes the best advisors function more like quarterbacks than portfolio managers, orchestrating the many moving pieces that come with significant wealth. The conversation also examines the evolution of the multi-family office model, the role of fiduciary advice, the impact of private equity on the advisory landscape, and why experience, judgment, and trust remain the qualities clients value most. Ultimately, this episode is about what it takes to become the first call when life – not just the markets – becomes complicated. Topics Covered Lessons from professional golf that translate to wealth management Building Certuity from $210mm to nearly $5B in assets What distinguishes a multi-family office from a traditional RIA Why referrals fuel long-term organic growth Becoming the “first call” for affluent families Fiduciary advice and the evolution of the advisory profession Family office services beyond investment management Private equity and M&A in the RIA space Developing the next generation of advisors Trust, relationships, and lifetime client service > Download a transcript of this episode… Listen and Learn Highlights for Advisors How did professional golf prepare Constantine for advising wealthy families? (3:45) Constantine explains why competing under pressure taught him discipline, emotional control, and process—qualities that now guide every client relationship. How did Certuity grow from $210 million to nearly $5 billion? (8:00) He shares why nearly all of the firm's growth has come organically through client referrals rather than acquisitions or aggressive recruiting. What separates a multi-family office from a traditional advisory firm? (11:45) The conversation explores how expanding into trust, estate, tax, and family office services became a response to client needs—not a business strategy. Why should advisors think of themselves as quarterbacks? (20:00) Constantine recounts a client business sale that fell apart at the closing table and explains why advisors often become the person holding everything together. How does Certuity view private equity and acquisitions? (36:20) Jason and Constantine discuss when outside capital can make sense—and why Certuity has chosen a different path centered on client alignment. Why do wisdom and experience still matter in an AI-driven world? (29:30) Despite advances in technology, Constantine argues that judgment, trust, and perspective remain the qualities affluent families value most. Key Takeaways High-net-worth clients increasingly value coordination, judgment, and perspective over investment selection alone. Family office services often evolve naturally as advisors respond to increasingly complex client needs. Sustainable organic growth is rooted in trust, which explains why referrals account for the overwhelming majority of Certuity's new business. Golf and wealth management share the same disciplines: preparation, emotional control, patience, and executing under pressure. The most valuable advisors become trusted partners during life's defining moments—not simply portfolio managers. Technology continues to reshape wealth management, but experience and wisdom remain difficult to replicate. Building a lasting advisory business requires investing in culture, succession, and the next generation of talent. https://youtu.be/m72Hq6bMTo4 Quotable Moments “The best advisors aren't simply managing portfolios. They're the first person clients call when life gets complicated.” “A bad shot in golf is the equivalent of a bad day in the market. You can't let one dictate everything that comes next.” “More often than not, we're not just financial advisors—we're financial therapists.” “Growth gets the headlines. Trust is what makes it possible.” FAQs What is a multi-family office? A multi-family office delivers integrated services beyond investment management, often coordinating tax, estate planning, philanthropy, business planning, and other complex financial matters for affluent families. Why has Certuity grown primarily through referrals? Constantine attributes the firm's growth to deep client relationships, a collaborative service model, and becoming the trusted advisor clients recommend to others. How does golf relate to wealth management? Golf reinforces discipline, emotional control, preparation, and performing under pressure—all qualities Constantine believes are essential for effective advisors. What is Constantine's perspective on private equity in wealth management? While he understands why many firms pursue private equity, he believes every strategic decision should ultimately be measured against what best serves clients. What qualities distinguish exceptional advisors today? According to Constantine, exceptional advisors become trusted coordinators of a client's financial life—bringing together specialists, solving problems, and providing perspective during life's most important moments. A multi-family office delivers integrated services beyond investment management, often coordinating tax, estate planning, philanthropy, business planning, and other complex financial matters for affluent families. Constantine attributes the firm's growth to deep client relationships, a collaborative service model, and becoming the trusted advisor clients recommend to others. Golf reinforces discipline, emotional control, preparation, and performing under pressure—all qualities Constantine believes are essential for effective advisors. While he understands why many firms pursue private equity, he believes every strategic decision should ultimately be measured against what best serves clients. According to Constantine, exceptional advisors become trusted coordinators of a client's financial life—bringing together specialists, solving problems, and providing perspective during life's most important moments. Related Resources Emotional Intelligence: The “Untouchable” Differentiator in an AI World Intentional Growth: How Top Advisors Build Businesses That Last The 10 Characteristics of the Most Successful Teams Constantine HatzivassiliouPartner  Constantine Hatzivassiliou is a Partner at Certuity, a nationally recognized multi-family office serving affluent families, entrepreneurs, executives, foundations, and endowments. He advises clients on the complex financial, tax, estate, and business planning decisions that accompany significant wealth, helping families coordinate all aspects of their financial lives through a comprehensive family office approach. Drawing on more than two decades of experience, Constantine works closely with successful business owners, corporate executives, and multi-generational families to simplify financial complexity and align investment management, tax planning, estate planning, philanthropy, and family governance strategies. As a Certified Exit Planning Advisor (CEPA®), he frequently assists entrepreneurs in preparing for liquidity events, business transitions, and the long-term stewardship of family wealth. His clients often view him as a trusted advisor and strategic sounding board, helping them navigate important financial decisions with the perspective of both a family office professional and a coach. Prior to joining Certuity, Constantine held advisory and banking positions with The Bank of New York Mellon, Bernstein Global Wealth Management, and Pacific Mercantile Bank. Before entering the financial services industry, he was a Golf Professional and member of the PGA of America, experiences that continue to shape his disciplined, competitive, and relationship-focused approach to advising clients. Outside of his professional responsibilities, Constantine is passionate about mentoring young athletes and strengthening the communities in which he lives and works. He serves as a Board Member of Coerfontaine Football Club (CFC), a premier youth soccer organization focused on developing young athletes and helping them pursue collegiate and professional opportunities while fostering leadership, discipline, and character. He also serves as Chair of the Safety and Security Committee for Parkland, where he works alongside community leadership to enhance resident safety, security, and quality of life. In addition, Constantine is a Founding Board Member of The Boardroom, a private membership organization focused on fostering meaningful relationships among business leaders, entrepreneurs, and professionals through networking, education, and philanthropy. Born in Greece, Constantine spent his childhood in Montreal before relocating to South Florida. He attended the University of Florida before earning a Bachelor of Arts in Economics from Florida Atlantic University, where he graduated with honors. He holds the Certified Exit Planning Advisor (CEPA®) designation. A lifelong student of the game, Constantine remains active in golf and is a member of Muirfield Village Golf Club, founded by his longtime  hero and mentor, Jack Nicklaus, as well as Parkland Golf & Country Club. Constantine resides in Parkland, Florida, with his wife, Stephanie, and their two children, Nicholas and Olivia. 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. Episode Transcript Lessons from the Links: From Golf Pro to $5B Family Office Partner A conversation with Jason Diamond and Constantine Hatzivassiliou, Partner at Certuity. Jason Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Lessons from the Links: From Golf Pro to $5B Family Office Partner. It’s a conversation with Constantine Hatzivassiliou, partner at Certuity. I’m Jason 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 $1 billion 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. Jason Diamond: Golf is a way of exposing who you really are, there are no teammates to blame, no clock to run out and no hiding from a bad decision. Every shot demands discipline, patience and the ability to stay focused when the pressure is highest, my guest today knows that firsthand. Before becoming a partner at Certuity, a multifamily office approaching five billion in assets, Constantine Hatzivassiliou was pursuing a career as a professional golfer. An injury ultimately redirected his path towards wealth management but many of the lessons he learned on the course still shaped the way he serves clients today. Certuity has grown from roughly 210 million in assets to nearly five billion, that’s impressive on its own but the more interesting story is how they’ve done it. The firm has grown largely through referrals built around a multifamily office model and focused on becoming far more than an investment advisor to the families it serves. In Constantine’s view, the best advisors aren’t simply managing portfolios, they’re the first person clients call when a business is being sold, a family issue becomes complicated or a major decision carries consequences well beyond the balance sheet. Constantine and I discuss the lessons golf teaches about handling pressure then we dive into the evolution from the traditional wealth management world to the multifamily office model, why referrals drive nearly all of Certuity’s growth, how he thinks about private equity’s influence on the advisory business and what it takes to become the first call for the wealthy families they serve and perhaps, most importantly, why the same qualities that help someone succeed on a golf course may be surprisingly relevant to building trust over a lifetime. It’s a great conversation so let’s dive in. Constantine, thank you so much for joining, thrilled to have you here. Constantine Hatzivassiliou: Thank you for having me, excited to be here. Jason Diamond: Yeah, absolutely. So, you had an unconventional path to wealth management, you started as a professional golfer, I think that’s a first for us on this show, before ultimately transitioning into this world. Can you tell us a little bit about the journey and what brought you here? Constantine Hatzivassiliou: Yeah, I never thought I’d be here, my parents were certainly shocked that I got here path wise. Growing up, immigrants from Greece, you settle into Florida the traditional way where you either go down the diner route or the gas station route in mechanics which my father was the latter and school and education was never priority, it was always about supporting the family needs. So, next thing you know, sports are a critical part of any good household, that’s how I was raised and I played everything but golf. I grew up on a golf course because my parents believed that a location of a property was critical to long-term financial success. We lived on a golf course, it was in our backyard, we’d stare at it and we’d use it to play football or baseball or anything but actual golf. And my freshman year at the University of Florida, I started dating a girl on the golf team and she got me hooked to the point where, after four years of hitting balls with the women’s and men’s golf team at the University of Florida for six hours a day, we finished school and realized I’m actually pretty good at the game and, while I have a finance and economics background and degree, let’s try and pursue this for a living and I was blessed. I had a sponsor who helped me succeed at golf on a small scale, it was a humbling experience to say the least. I was competing and playing with Sean O’Hair, Ken Duke, guys who made it out on tour for a very long time, we had the same sponsor so we functioned as a team, it was a collegiate team effectively trying to make it out on tour. And, unfortunately, my second year of competing, I blew out my back doing heavy deadlifts which set me aside for 18 months. While I was recovering, my primary sponsor was in financial services and says, “Hey, you have a background in this, it’s killing you not being able to be on the golf course, why don’t you come work for me while you’re rehabbing so that, when you get back to playing golf, it’s easier for you to talk about our business as a sponsor to try and develop business to throw it to the financial services side?” And Jason, the reality is, after 18 months working there, I fell in love with it. I made way more money working in that environment than I ever would’ve made playing golf because, again, I came to the game late. I was decent but I was nowhere near the caliber of players that are succeeding now out on tour. So, I pivoted after having met my wife and decided to settle down into the wealth management space and, what is it now, 26 years later, going strong. So, it’s been a fun transition from golf into wealth management to say the least. Jason Diamond: Probably my favorite background … I watch a lot of golf, I should caveat that, probably my favorite origin story we’ve had, I’ll give you the Wanamaker trophy or whatever you get, first place. Let’s talk about the business now, so Certuity. For our audience who may not be familiar, tell us a little bit about the firm, what types of clients do you serve and any context you can provide on size as well. We’ll talk about how your firm got there but just give us where we are today to start with. Constantine Hatzivassiliou: So, goal by the end of the year is to have $5 billion in AUM, we’re just shy of that now. We currently service 428 families across the country. So, we’re boutiquey and nimble, we’re based in South Florida, we have offices in New York, San Fran and LA. I’m fortunate to be one of four partners at the firm supporting the growth and the direction of the company and it’s a fun endeavor in the sense that, when we first started, I was employee number four 16 years ago and, with 210 million in AUM at the time to grow it to where we are today, to learn all the things that we have over the years, the curve balls that were thrown at us because all of us came from massive institutional wealth management firms. So, we transitioned from the Bernsteins of the world, the BNY Mellons of the world into an RIA in the South Florida market, there was absolutely an entrepreneurial learning curve involved. Jason Diamond: I bet. And on follow-up question, 16 years ago, did you have a book of business, client business and do you still maintain a book of business today? Constantine Hatzivassiliou: I do. The four of us at the firm share in all of the clients, we work together. Being in the Southeast, I’m responsible for, let’s call it, the Southeast demographics of the US which is a large portion of Certuity’s book. I have a partner in Tennessee, I have a partner in LA and San Francisco and we divide and conquer across the country. But, yes, we came over with a small book, we’ve all grown it organically since then. So, we’ve been very effective in how we’ve grown. Jason Diamond: Just from adding new client money? Constantine Hatzivassiliou: Strictly through new clients referred to us by existing clients. Jason Diamond: Wow. I want to talk more about the growth because that’s remarkable. But before I do, can we double click on the service model? So, I would say the most typical we hear, I think more of our guests typically come from the wirehouse world where it’s I have my book, you have your book. What does your service model look like? So, is it truly, if it’s working well from the end client perspective, you should be interchangeable with your partners and it’s a true team approach? Constantine Hatzivassiliou: How we engage our clients, the theory should be I can get hit by a bus tomorrow and outside of the client not being able to speak to me directly, they will not have a hiccup in any way, shape or form. And when we’re dealing with families across multiple generations, the way we’ve built our platform, that continuity is critical in the engagement process for the clients hiring us to help them through all of the challenges that they face. Jason Diamond: What’s your sweet spot in terms of client size? Constantine Hatzivassiliou: Our average client size today has just shy of eight million AUM with us. We have some clients who have $1 million certainly but they’re strategic in that their friends, their family, they could be centers of influence who help send business our way because they value what it is that we do and there’s a strategic partnership because we might need them for their trust and estate services or their accounting work and they have clients who have a need and we’re on the short list of people they refer to. Jason Diamond: That they trust. Yeah, makes sense. So, I’ve seen this in the news and also even on your own internal materials, I’ve seen you described as both a modern multifamily office, you’ll also obviously hear the term RIA as well. Does that distinction matter at all? And maybe my second part of that question would be what is the distinction between that space, whatever you call it, and the more traditional firm world from a client service perspective? You mentioned that all of your partners from that world. Constantine Hatzivassiliou: I started in this industry truly at an institutional level at Bernstein in New York and, for anyone who knows Bernstein, they really do brainwash you on the fiduciary model and the values affiliated with that philosophy has translated through my career at BNY Mellon which has a very similar feel as Bernstein. And then, when we came here, we instilled that same core value principle of fiduciary responsibility for our clients so we are very different than a traditional wirehouse or brokerage house, it is why we’ve grown so successfully. I would never, one, work for an institution that did bide by those standards and, secondarily, I wished Congress and Senate would turn around and actually implement a mandatory fiduciary liability for all financial advisors because, far too often, we see prospective clients or families get taken advantage of because the individual sitting across from them giving them financial advice is not necessarily aligned with their goals and objectives. Jason Diamond: So, I take it you are fee only. Constantine Hatzivassiliou: We are fee only. Jason Diamond: Yeah. I don’t want to lose the thread on the first part of my question. Do you think there is a distinction between a multifamily office and an RIA? I don’t want to lead you here but to me it implies a different level or different caliber of service model that probably includes more of the ancillary trust and estate and CPA type stuff that higher network clients need but curious what your thoughts are. Constantine Hatzivassiliou: Our first seven years at the firm, we were strictly an RIA, we functioned as an advisory service provider to our clients. What attracted me and my partners to Certuity was the nimbleness of the firm. So, for instance, at BNY Mellon, we often deemed a change necessary as moving an aircraft carrier across the world but it was an impossible task to accomplish. But when you’re small and nimble and clients come to you with a need and you’re in the service, ultimately, first and foremost, it made sense for us to start building out family office services for our clients because they had a need and we found it as a way to centralize everything because, far too often, when the communication standards break down between all the individual parts, one, it’s more expensive for the clients and, two, the process isn’t efficient, things get missed. So, we tried, largely due to our growth, to bring everything in house and our clients appreciate that for it. Jason Diamond: So, this is not a chicken and egg situation, this is very much we had large clients, we were attracting large clients and, in order to service them optimally, here’s what we felt we needed to build. Is that fair? Constantine Hatzivassiliou: 100%. Jason Diamond: Let’s shift gears, I need to go deeper on the professional golf thread a little bit. I promise I won’t make the whole interview about your golf background. I’m curious if you feel like that experience or that, I don’t know, upbringing or, I guess, background laid any foundation for the way you engage with clients today or the way you operate as a business leader today. Constantine Hatzivassiliou: So, there’s a couple parts to that. The golf side, certainly, just from an engaging client perspective, 90% of our clients are golfers. Jason Diamond: It’s very true. Constantine Hatzivassiliou: Right. It just helps because of our background and certainly with some of the clients and partners that we have at the firm, golf is a critical thread in what we do. However, when it comes to golf, what I learned playing golf at a high level directly translates to how we manage money for clients and I’ll express it this way. There’s generally two types of golfers, there’s the artist, the Sergios of the world who don’t fundamentally function off of specific points in their swing or a very structured platform, they see something, their mind becomes creative and they execute on it. I was never that way, I am a numbers person, I think everything analytically, I break everything down to the minute, everything is strategized and organized, I was taught to practice that way by Coach Alexander at the University of Florida and that foundational element seemed easy, it worked. If you practice properly, you’ve succeeded. Under pressure, all those hours and hours of repetition translated to success more often than not. In our industry, it’s process-driven, it has to be unemotional. A bad shot in golf is the equivalent of a bad day in the market, you can’t let one bad day in the market influence everything you do for the next year. Same way on the golf course playing in a tournament, you can’t allow one golf shot to affect the rest of the round. We kid with our clients oftentimes that, while we are fundamentally their financial advisor, more often than not, we’re their financial therapist. We have to control their emotions and make sure they’re not making an irrational decision. For instance, a couple days ago we were out with a client the day that Iran shot down one of the US military helicopters and we’re sitting down at lunch and, all of a sudden, his phone starts blowing up because he’s getting all these Google alerts to the market heading in the wrong direction and he had to go do a life insurance test later on that afternoon. So, all week, he had prepped and he was calm and he was relaxed, he was really excited, he’s, “My wife is setting me up with a new insurance policy and I know it’s for her benefit but all my numbers look good, I’m going to ace this and my premiums will be really low because of it,” it was a $25 million policy. And as he’s looking at his phone and he sees the market collapsing in his mind, his blood pressure rose to no end, you could see that his anxiety level went through the roof and, had I not been there with him at the time to hold his hand through that process, his afternoon would’ve been shot. I would’ve got a phone call saying, “What are we doing to prevent 2% loss in my portfolio,” because that’s how he thinks and, in that moment, I was the therapist to talk him off a ledge. It’s so hard for individuals to manage the stress of the markets, that golfer mentality of, okay, just breathe, relax, let’s see what’s going on, let’s make an educated, confirmed decision, let’s circle back with our caddy if we’re on tour and competing and make a unified decision for the long-term success of the goal that we’re trying to achieve. And what we do every day is the same thing with our clients. Jason Diamond: It’s an incredibly thoughtful answer, I expected a version of the latter part of your answer. I appreciate that you added the part about just most clients like golf, enjoy talking about golf, enjoy playing golf and it’s an effective business development tool, there’s no question. Constantine Hatzivassiliou: So, I have two kids, a 12-year-old and an eight-year-old, my son who’s 12 who’s an exceptional soccer player and wants to, aspires to play professionally one day has now fallen in love with golf which I’m ecstatic about. I think golf and tennis, from a business development perspective- Jason Diamond: Yeah, lifelong sports. Constantine Hatzivassiliou: And I look at it now and my mentor when I started in the business was absolutely right. The fact that I could get a CEO of a Fortune 100 company to want to actively spend four hours with me where we could dive into the weeds about their personal life, their financial situation, their business, you could never get that time otherwise. I urge everyone who’s coming out of college or is going into college who wants to aspire to be in any type of sales related role, golf is a great venue to make long-term relationships. Jason Diamond: And importantly, tennis is not as good on the knees long-term or the back long-term. So, you stick to golf, you get a little more longevity out of it. Constantine Hatzivassiliou: It does help, yes. You’re right. Jason Diamond: My thought always goes to people call it the 15th club in golf, just this mental element of the game and to me it’s the clear moment in golf that always comes to mind for me is the 72nd hole. I don’t know if you just watched the US Women’s Open but Nelly Korda standing over a two-foot putt that I really thought she missed, is there an equivalent of that moment? Are you ever able to recreate that pressure in your current role or is that something that you miss? Constantine Hatzivassiliou: Jason, we have those moments weekly, countless stories. Here’s where I love my job. I’ve transitioned from being the guy behind the screen who is just trading accounts, that’s where we all start and you have to have that foundational perspective of what’s involved in trading an account on a daily basis. Not that we ever picked stocks to an extensive level, we were generally managing ETFs, mutual funds and strategies but I’ll give you an example. So, just last week, we had a family and this is where the family office side comes in more so than the financial advisory services come in. We had spent four months in helping a family sell their business, it was a life altering moment, the dad started the business, the dad had been independently successful, net worth of well into eight figures, was happy and content, brought his son into the business, son was brilliant, saw an opportunity within the business and grew the business by 4,000%. Jason Diamond: Literally? Constantine Hatzivassiliou: Yup. All because of this, the son saw a different direction and pivoted the business and grew it out and here he is, getting ready to have their first child and he gets approached by a firm to acquire his business. They’re ecstatic, the number was perfect, I thought it was overvalued, I was telling them that there’s no way they could turn it down because the number was too significant. Had they gone to the market, they would probably never achieve that level of return. And literally, the day of closing, as we’re expecting the wire to come through, the deal gets pulled. So, here you have the father who’s crushed because he was trying to provide something for his son, the son who’s just devastated because he now was preparing for the second stage of his life and you go through at that stage the classic stages of grief, it’s the cycle that goes through it. I was holding their hand through the three-month process up to there, every day, hourly calls, strategizing, building everything out, organizing the accounting team, organizing the attorneys, getting it all to work out. And here I am, father and son, unbelievably stressed, you have the wives in the background who can’t quite comprehend what’s going on, you have employees beneath them who are now confused as to there was a transition getting ready to take place and the only person who can step in under that critical moment to bring everybody back together was me. So, here I am thinking, 20 years ago, I’ll just pick stocks and bonds for individuals but now I’m in the middle of deal flow trying to help a family solve the issues that arise. So, those are hugely critical- Jason Diamond: Yeah, that’s right. Constantine Hatzivassiliou: …moments where, because our clients are our friends and family, we care for them like they’re our own, you become emotionally attached. And the same pressure that I felt when I won my first mini tour event after college, when I had to get up and down from the impossible bunker shot and I hit it to six feet and I made the crucial put to win my first $23,000 check which I thought was unbelievable, they gave you those big old-fashioned- Jason Diamond: The Happy Gilmore checks. Constantine Hatzivassiliou: Exactly, right? It was the greatest day at that time. The stress of being in that bunker trying to hit that shot is the same stress I felt having two phones ringing, one the father, one the son where we have to keep that situation separate. So, you’re diving into unbelievably stressful situations and the best part is, when we get it all solved and literally yesterday we solved the entire dynamic of the business, I get a text from the son saying that this was the most incredible rollercoaster experience he’s ever experienced, that he’s incredibly grateful for all that I did and our team did for him and that, for the rest of his life, we will always be the first person he calls to solve any of his problems. So, for us, that’s the recreation of that stressful moment and then the victory on the back end. Twenty-five years ago, I got the big Happy Gilmore check. Yesterday, I got that text which I’ve printed out and framed and have it in my office as a constant memory of why it is we do what we do. Jason Diamond: And I would bet that’s more impactful than the $23,000. It’s an incredible story and I’ll tell you why, you said it but it’s as far away from stocks and bonds as you could possibly get. But I think, most advisors, a story like that resonates much more. It leads into my next question. You intentionally choose to service a high net worth segment of the market and I would assume that number’s probably creeping up, not down over time in terms of who you service. My thought is that’s a very competitive segment of the market as well. Is this how you differentiate is just you make it about those types of human examples or is there more to it? Constantine Hatzivassiliou: I’m envious of the advisor who could walk into a room of 200 people and they become the central focal point of the room where they can walk up to every single person and fearlessly ask them incredibly personal information, I’m not wired that way. For me, I’m very much the individual that I will find the one person that I have common ground with, I will deepen that relationship and I will add value and, because of the value that I create, I become a critical component of that individual’s success. And that’s how we’ve grown our business holistically at the firm largely buy that extra layer of service. We’re a commodity business. Being in South Florida, the clubs that I belong to, 10 to 15% of the members feel like they’re financial advisors. You could throw a rock anywhere and find a financial advisor so how do I differentiate myself? The only way I can truly differentiate myself and my firm is the level of service we provide, to go that extra step. To where, when we’re calling a client, they know I’m calling them to support their needs not because I’m seeking something for any ulterior motive. Jason Diamond: But you don’t mention financial planning or investment management or asset custody. Is that because I assume just that’s table stakes? Of course we do that but … Okay, yeah. Makes sense. Constantine Hatzivassiliou: That’s the easy part, right? That’s foundationally … And to your earlier point, you were asking the RIA model. One of the biggest challenges that we had down here in South Florida was the RIA model is new. If you were in the northeast, RIAs are very common, out west, incredibly common. Down here in South Florida, I just finished dealing with Bernie Madoff. Jason Diamond: You were fighting the good education fight a little bit. Constantine Hatzivassiliou: At Bernstein, 108 of our clients had assets with Bernie Madoff. Jason Diamond: Yeah. Constantine Hatzivassiliou: So, when you leave, one of our biggest growing curves as an RIA in South Florida was, when you leave the power of BNY Mellon or Bernstein and you’re some random little shop called Certuity, no one knows who you are. So, there was a big part of our education in the business was learning how to educate clients and prospective clients on the value of the RIA model and the fiduciary model in particular. Jason Diamond: Could you give me the 30-second answer to that if somebody says who are you, your prospect? I’ll tell you why I ask. Forget just Bernstein’s and BNYs of the world, a Morgan Stanley advisor or Merrill advisor has the exact same fear. I’m leaving Merrill to go launch Jason Diamond Wealth Management, my client’s going to say, “Well, who is that?” So, give me the quick pitch. Constantine Hatzivassiliou: Your typical broker, let’s say, you’re not really hiring JP Morgan, you’re not really hiring Wells Fargo, you’re not hiring Goldman Sachs, you’re hiring the advisor who works for that institution. Now, yes, that advisor has the Rolodex of data and information available at the firm level but, ultimately, you’re entrusting that individual to make your decisions for you. The broker who leaves the brokerage model to open up their own brick and mortar operation has to then decide are they continuing down the wirehouse brokerage model where they’re transactional in nature, the economics behind that, far more profitable. The revenue streams affiliated with a brokerage house drastically blows us out of the water. But then you have to also look at yourself in the mirror so how are you running your book of business, how are you running your practice. So, to answer your 30-second question, the RIA model, in my opinion, is truly the only way any family of wealth should proceed with an advisory firm because you want an individual who is aligned in your goals and objectives. Our clients know that I’m their chief financial officer, I work for them. They task us with building out a financial strategy that is customized to their individual needs and they never have to worry do I have an ulterior motive as to why I’m presenting an option in that strategy. And, because of that, the fiduciary model, I think, is critical for our success as a firm and, again, as I mentioned earlier, I wish it’s something that was industry well and not the vast minority. Jason Diamond: Yeah. No, that’s a great answer. So, do you think then that, as time has gone on, this has gotten easier? I assume the answer is yes either because more clients are aware of your brand and/or more aware of the space as a whole. Constantine Hatzivassiliou: The first thing that helped the most was some gray hair. When I started at Bernstein, I attempted to solicit new clients very much the same way I do today. But when I was 26 years old and I’m sitting in front of a family worth and the dad was in the 70s and he lived his life and I’m younger than his kids, he would look at me and say, “What do you really know? What experience do you have?” So, doing this now for as long as I have, the number one thing that has helped me the most in growth is just wisdom and time. Without that, yes, you can be a rockstar stock picker. We have so many kids coming out of college today with the advent of AI and technology that have algorithms that could run unbelievable portfolios and there is a segment of the market who wants to hire and engage those individuals but, generally speaking, the families that we service, that is 10th or 12th on the list of importance. Jason Diamond: No, I think that’s spot on. I think most high net worth clients counterintuitively agree with that, that alpha, for lack of a better term, is really not the name of the game or not in the top five reasons why you would engage with a financial advisor. Constantine Hatzivassiliou: Agreed. The biggest thing that we’ve been doing to educate clients especially in today’s environment, I had a call yesterday with an individual, a client who lives in New Jersey who works out of New York for a hedge fund, he knows our space incredibly well. He’s one of those kids, 28 years old, brilliant, as smart as you’ll ever be but his tax bracket is atrocious. He is paying so much of his W-2 income in taxes and building out a strategy that can reduce his tax liability by several hundred thousand dollars a year far exceeds any alpha I can generate by picking a top decile performer. Jason Diamond: What was the strategy? Move to Florida? I’m just kidding. Don’t answer that. Constantine Hatzivassiliou: We offered that but, unfortunately, he has to be physically in the office in New York City but yes. Jason Diamond: I think that will resonate, by the way, your gray hair comment. I appreciate the humility and the modesty in that because, the reality is, one of the questions I was going to ask you about was next-gen talent cultivation. In my opinion, this is a hard game for younger folks for that reason. People sit across from other people with a lot of money and they say, “Why am I going to entrust you with my life’s work when you just don’t have that degree of experience?” I was asking more even about your firm success and your firm story, have you felt like that’s caught on more? Do you have more brand awareness, if you will, now when you go to a prospect meeting or do you think you’re still constantly fighting that education fight? Constantine Hatzivassiliou: So, first part, brands, it’s improved in our immediate network. In our little bubble of the world, yes, it’s known. Let’s call it, in South Florida the influential attorneys, the accountants, the divorce attorneys know who we are because, having been down here long enough, we’ve had opportunities to work together. Our network of friends, certainly, the word spreads. But in the grand scheme of things, we are so small in the South Florida landscape or the LA landscape or the New York landscape so any incremental gain that we pick up is meaningful. And then, as it relates to young talent, our success is completely, long-term, derived by the young talent that we bring in to nurture them to help them grow. I look at our success, two of our critical mentors and board members of our firm are in their 80s, their children and grandchildren, nepotism aside, whether it was interning while in college or coming to work for us after school, they’re our best employees. And our goal as a firm, just like how I was offered the opportunity to become a partner and own a piece of the business, our goal long term will be to transition the business to this younger generation that we’re developing. I look at, again, those two board members who are in their 80s, the advice they’ve given me is don’t ever stop working, you have to be doing something. And I turn to them and say, “I don’t work every day.” I put in 20 hour days, well, not quite 20, 18 hour days but it’s never work because, what I do every day, I don’t deem it work, I love what I do, I don’t ever see myself stopping. Because they’ll tell me all of their friends that have stopped working or sold their business, invariably, the men die within six months because boredom and we always joke around that you’ll continue to work forever. So, I would hope that one day I transition into that advisory board member role where I step aside day-to-day activity where I’m now a mentor to our younger generation that we’re promoting into partners because we’ve made promises to our clients that we will forever be their family office. So, we have to, as part of our growth model, have those transitions in place because we’re servicing many families that have 85-year-old clients and two-year-old clients and we’re tasked with the two-year-olds as well as the 85-year-old. Jason Diamond: I also feel like there’s a little bit of younger generations I think have been reluctant to some degree to get it, you can disagree with this, to get into this space because there’s a more appeal to things like investment banking and sales and trading to some degree. The other problem obviously you alluded to is asset gathering. Your model speaks so clearly to success because you don’t say I own the client, that’s my relationship. To me, you plant the seeds of being able to handle succession much better than somebody who does the mine is mine and yours is yours approach. Is that fair? Constantine Hatzivassiliou: That’s completely accurate. And I think there’s two types of people that serve in the financial advisory space. You have the individual who is analytics driven, who likes being behind the bank of monitors trading account and there’s a critical part of our firm and our success is driven by the team in the office that aren’t necessarily client facing that do all the heavy lifting every day because they’re really doing the heavy work. Myself, my partners, the select few, while talented and able to do that, realize the value that we present is quarterbacking the relationship and helping understand all the components. We kid around that we’ve all stayed at a Holiday Inn Express last night, we’ve become experts in tax, we’ve become experts at trust and estate planning, we’ve become experts at divorce, we’ve become experts at the medical field. It’s shocking how it’s 2:00 in the morning and you get a phone call, panic attack by a client saying they need a doctor for X, Y and Z, can you connect me. So, the younger generation, yes, the sexy space is investment banking and that is really hard work. I could not do what my friends at Goldman do who are at these private mid-market funds, that’s just not me. I’ve been fortunate that I stumbled into an avenue in financial services that I think perfectly fits my personality and my want and desire to help others because that’s what we’re driven by and we try and hire people with that same mindset. The hardest thing as an RIA especially in South Florida is finding and retaining talent that is like-minded and that could function well within our family. Jason Diamond: If you build a firm predicated on culture and client service, I understand, certainly, the importance of that. I want to shift gears, I don’t want to lose this thought. You mentioned organic growth, it’s incredible. You have not mentioned inorganic growth at all and maybe because you haven’t had to but give me your thoughts on M&A, private equity in this space, do you have plans to sell the business, take on a capital partner, buy other RIAs? Constantine Hatzivassiliou: Yeah. So, I understand why private equity in the last 10 years has come into the market. For years, they bought up insurance practices, that recurring revenue, sticky assets, it makes sense. Personally, I’m not a fan of them being in our markets, I think they’re motivated at the end of the day by AUM growth, revenue growth and the second transaction which, for most of our clients, would not make sense because, again, that then questions why it is that we’re motivated to do something. Am I taking extra risk in the portfolio because I want to grow the AUM because I’m looking to sell in a year? Am I bringing in a strategy that has a higher fee? For us, it doesn’t work. In the brokerage model, it makes perfect sense. Now, there are some RIAs who leave the wirehouses, open up an RIA shop, do really well for their clients but don’t have the long-term aspirations of making the institution a legacy to where they’re passing it off. I hope my kids one day want to come work for dad and follow in his steps, that’d be amazing. Just like our younger generation working at the firm, our goal is we’ve already targeted the three or four guys that will be partner one day and we’ll transition the business over to them. But it’s okay if there’s an RIA out there who doesn’t have that transition product or isn’t motivated by that and is looking at it as a vehicle that I’ve built a really good successful book of business and I want to now retire and spend time with my family and kids and travel, et cetera, and that’s where PE steps in and offers an attractive number and the person makes their move. So, I can’t fault the individual for wanting that and I’m not saying that they’re not doing well by their clients, it’s just, for us, I’m not a fan of it because, again, I’m first critically and always focused on what’s best for the client. Jason Diamond: Fair. And I largely agree with some of what you said around private equity in this space but private equity enables … Obviously, it’s capital so which enables acquisitions which is why a lot of firms take on private equity. So, what about the idea of potentially buying businesses to start up inorganic growth? Constantine Hatzivassiliou: We have gone down the road of acquiring other institutions potentially. The challenge is, because we manage money so uniquely and our approach is so different, I’m not going to bring on an institution or bring in a new partner to the firm or a new book of business that we’ve acquired if the methodology and the life of that book doesn’t mirror ours. So, yes, there is opportunities to grow through acquisition, it’s not something that we are leaning on heavily. However, for the right institution that’s available that is aligned with our thinking, whose clients would value and appreciate how we do things or, if that institution is doing something truly unique that we would want to bolt onto our platform, all day long because, again, for the benefit of the client, it makes sense. So, yes, there are opportunities for that. Too often we find that, when a book is available for acquisition, the highest bidder tends to win out and we don’t have the deep enough pockets to write a multiple that we don’t deem to be, let’s call it, market neutral. Jason Diamond: Yeah, market prudent. I understand the premise and I think that’s fair. I also think you have the luxury, because of your organic growth, you can be super, super picky about inorganic and I love how you bring it all back to the lens of the client. Can this improve the client experience in some way? And, if so, yes, we’ll take a look. I got time for one more question, I can’t believe time has flown. You’ve had a remarkable journey, professional golf now partner at a $4 billion plus on the way to $5 billion RIA multifamily office. What are you most proud of when you reflect on your career journey? Constantine Hatzivassiliou: What am I most proud of? To see what Rich, myself and Mark and Jayson built over these years from where we were sitting in a small conference room, struggling to figure out how do we find a way to hire a trust and estate attorney to help with that component, which CPAs do we bring on board in-house because clients have a need. So, the entrepreneurial spirit involved in growing the business, the late nights, the struggles, the banter back and forth, to put so much blood, sweat and tears into this and now to look at all that we’ve accomplished, being in four separate states with offices, having so many wonderful employees that have come to us from all over the world, Germany, from China, from Tokyo, bringing people in to the US and building out something that, when we leave at the end of the day, are incredibly proud of. My father’s no longer with us, for 50 years, I always strived to make him proud because he never told me that he was proud of me, he was the classic Greek old-fashioned dad. I think he looks down on his now for everything that we’ve built and would say that he’s proud of us so, for me, that’s the best. Jason Diamond: Yeah. That’s an incredible place to end. Thank you for sharing that, it’s a touching place to end and I appreciate you being open. Thank you. This has been one of my favorite episodes, your journey, your humility, your honesty, your transparency, it’s no wonder you’ve built a business you’ve built. So, thanks for joining us, Constantine. I look forward to having you back on to talk about the next chapter. Constantine Hatzivassiliou: Thank you. Next time we’ll do it from the golf course. Jason Diamond: Oh, absolutely. 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.   Lessons from the Links: From Golf Pro to $5B Family Office Partner A conversation with Jason Diamond and Constantine Hatzivassiliou, Partner at Certuity. Jason Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Lessons from the Links: From Golf Pro to $5B Family Office Partner. It’s a conversation with Constantine Hatzivassiliou, partner at Certuity. I’m Jason 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 $1 billion 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. Jason Diamond: Golf is a way of exposing who you really are, there are no teammates to blame, no clock to run out and no hiding from a bad decision. Every shot demands discipline, patience and the ability to stay focused when the pressure is highest, my guest today knows that firsthand. Before becoming a partner at Certuity, a multifamily office approaching five billion in assets, Constantine Hatzivassiliou was pursuing a career as a professional golfer. An injury ultimately redirected his path towards wealth management but many of the lessons he learned on the course still shaped the way he serves clients today. Certuity has grown from roughly 210 million in assets to nearly five billion, that’s impressive on its own but the more interesting story is how they’ve done it. The firm has grown largely through referrals built around a multifamily office model and focused on becoming far more than an investment advisor to the families it serves. In Constantine’s view, the best advisors aren’t simply managing portfolios, they’re the first person clients call when a business is being sold, a family issue becomes complicated or a major decision carries consequences well beyond the balance sheet. Constantine and I discuss the lessons golf teaches about handling pressure then we dive into the evolution from the traditional wealth management world to the multifamily office model, why referrals drive nearly all of Certuity’s growth, how he thinks about private equity’s influence on the advisory business and what it takes to become the first call for the wealthy families they serve and perhaps, most importantly, why the same qualities that help someone succeed on a golf course may be surprisingly relevant to building trust over a lifetime. It’s a great conversation so let’s dive in. Constantine, thank you so much for joining, thrilled to have you here. Constantine Hatzivassiliou: Thank you for having me, excited to be here. Jason Diamond: Yeah, absolutely. So, you had an unconventional path to wealth management, you started as a professional golfer, I think that’s a first for us on this show, before ultimately transitioning into this world. Can you tell us a little bit about the journey and what brought you here? Constantine Hatzivassiliou: Yeah, I never thought I’d be here, my parents were certainly shocked that I got here path wise. Growing up, immigrants from Greece, you settle into Florida the traditional way where you either go down the diner route or the gas station route in mechanics which my father was the latter and school and education was never priority, it was always about supporting the family needs. So, next thing you know, sports are a critical part of any good household, that’s how I was raised and I played everything but golf. I grew up on a golf course because my parents believed that a location of a property was critical to long-term financial success. We lived on a golf course, it was in our backyard, we’d stare at it and we’d use it to play football or baseball or anything but actual golf. And my freshman year at the University of Florida, I started dating a girl on the golf team and she got me hooked to the point where, after four years of hitting balls with the women’s and men’s golf team at the University of Florida for six hours a day, we finished school and realized I’m actually pretty good at the game and, while I have a finance and economics background and degree, let’s try and pursue this for a living and I was blessed. I had a sponsor who helped me succeed at golf on a small scale, it was a humbling experience to say the least. I was competing and playing with Sean O’Hair, Ken Duke, guys who made it out on tour for a very long time, we had the same sponsor so we functioned as a team, it was a collegiate team effectively trying to make it out on tour. And, unfortunately, my second year of competing, I blew out my back doing heavy deadlifts which set me aside for 18 months. While I was recovering, my primary sponsor was in financial services and says, “Hey, you have a background in this, it’s killing you not being able to be on the golf course, why don’t you come work for me while you’re rehabbing so that, when you get back to playing golf, it’s easier for you to talk about our business as a sponsor to try and develop business to throw it to the financial services side?” And Jason, the reality is, after 18 months working there, I fell in love with it. I made way more money working in that environment than I ever would’ve made playing golf because, again, I came to the game late. I was decent but I was nowhere near the caliber of players that are succeeding now out on tour. So, I pivoted after having met my wife and decided to settle down into the wealth management space and, what is it now, 26 years later, going strong. So, it’s been a fun transition from golf into wealth management to say the least. Jason Diamond: Probably my favorite background … I watch a lot of golf, I should caveat that, probably my favorite origin story we’ve had, I’ll give you the Wanamaker trophy or whatever you get, first place. Let’s talk about the business now, so Certuity. For our audience who may not be familiar, tell us a little bit about the firm, what types of clients do you serve and any context you can provide on size as well. We’ll talk about how your firm got there but just give us where we are today to start with. Constantine Hatzivassiliou: So, goal by the end of the year is to have $5 billion in AUM, we’re just shy of that now. We currently service 428 families across the country. So, we’re boutiquey and nimble, we’re based in South Florida, we have offices in New York, San Fran and LA. I’m fortunate to be one of four partners at the firm supporting the growth and the direction of the company and it’s a fun endeavor in the sense that, when we first started, I was employee number four 16 years ago and, with 210 million in AUM at the time to grow it to where we are today, to learn all the things that we have over the years, the curve balls that were thrown at us because all of us came from massive institutional wealth management firms. So, we transitioned from the Bernsteins of the world, the BNY Mellons of the world into an RIA in the South Florida market, there was absolutely an entrepreneurial learning curve involved. Jason Diamond: I bet. And on follow-up question, 16 years ago, did you have a book of business, client business and do you still maintain a book of business today? Constantine Hatzivassiliou: I do. The four of us at the firm share in all of the clients, we work together. Being in the Southeast, I’m responsible for, let’s call it, the Southeast demographics of the US which is a large portion of Certuity’s book. I have a partner in Tennessee, I have a partner in LA and San Francisco and we divide and conquer across the country. But, yes, we came over with a small book, we’ve all grown it organically since then. So, we’ve been very effective in how we’ve grown. Jason Diamond: Just from adding new client money? Constantine Hatzivassiliou: Strictly through new clients referred to us by existing clients. Jason Diamond: Wow. I

Quantum materials discovery shows how quantum computing can create real value in industry by working alongside AI, advanced computing, and experiments to better understand materials, improve decision-making, and accelerate innovation at scale, ultimately helping deliver practical, measurable progress for the energy transition.This week, Dave, Esmee, and Rob are joined by co-host and quantum expert Phalgun Lolur, together with Jonathan Owens, Senior Scientist in Computational Materials Physics at GE Vernova to explore how quantum computing could reshape materials discovery and why that matters for the future of energy.  TLDR00:00 – Introduction01:50 – Hang out: The wet-bulb thermometer03:20 – Dig in: Technology Convergence and the Link to Quantum11:30 – Conversation with Jonathan Owens44:26 – Exciting to see how the quantum landscape matures and the magic wand for magnetismGuestJonathan Owens: https://www.linkedin.com/in/jonathan-r-owens-phd/ HostsDave Chapman:  https://www.linkedin.com/in/chapmandr/Esmee van de Giessen:  https://www.linkedin.com/in/esmeevandegiessen/Rob Kernahan:  https://www.linkedin.com/in/rob-kernahan/Co-host Phalgun Lolur:  https://www.linkedin.com/in/phalgun-lolur/ ProductionMarcel van der Burg:  https://www.linkedin.com/in/marcel-vd-burg/Dave Chapman:  https://www.linkedin.com/in/chapmandr/ SoundBen Corbett:  https://www.linkedin.com/in/ben-corbett-3b6a11135/Louis Corbett:   https://www.linkedin.com/in/louis-corbett-087250264/ 'Realities Remixed' is an original podcast from Capgemini

durée : 00:02:07 - Le service de réservation de rendez-vous médicaux Doctolib va lancer un projet de recherche en août 2026 sur "l'optimisation des parcours de soin grâce à l'IA", qui se basera sur les données personnelles et de santé de ses utilisateurs. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

durée : 00:48:16 - Affaires sensibles - par : Fabrice Drouelle - Aujourd'hui dans Affaires sensibles : 1988, un séisme en Arménie. - équipe : Étienne Bertin, Valentine Chédebois, Franck Cognard, Rebecca Denantes, Claire Teisseire, Adrien Carat Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

L'armée française n'en voulait pas. Pourtant, depuis la guerre en Ukraine, la production a quintuplé. Dans « La Story », le podcast d'actualité des « Echos », Pierrick Fay et Anne Vidalie racontent l'histoire mouvementée de ce canon français monté sur un camion.Vous vous informez beaucoup… mais retenez-vous vraiment l'essentiel ? La Sélection des Echos, c'est chaque jour les analyses et décryptages qui comptent vraiment, sélectionnés par notre rédaction. Retrouvez nos meilleures offres réservées à nos auditeurs.« La Story » est un podcast des « Echos » présenté par Pierrick Fay. Cet épisode a été enregistré en juillet 2026. Rédaction en chef : Clémence Lemaistre. Invitée : Anne Vidalie (journaliste pour « Les Echos week-end ») Réalisation : Willy Ganne. Chargée de production et d'édition : Clara Grouzis. Musique : Théo Boulenger. Identité graphique : Upian. Photo : Genya Savilov/AFP. Sons : Ministère ukrainien de la Défense, Xavier Tytelman, « Bayraktar » - Ukrainian War song (@Kronika24.pl), Armée de Terre. Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.

durée : 00:02:11 - Alors que des images de la Loire asséchée ont été diffusées par plusieurs médias, des internautes affirment qu'il s'agit d'un bras du fleuve qui s'assèche tous les étés. Vrai ou Faux ? - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

durée : 00:02:02 - Début juillet, le député LFI Manuel Bompard a accusé le gouvernement de Gabriel Attal d'avoir diminué le budget de la sécurité civile de 50 millions d'euros. Une coupe budgétaire qui a "mené à l'annulation de la commande de deux Canadair supplémentaires". Bien que réfutée par un compte de soutien au candidat à la présidentielle, cette affirmation est factuellement correcte. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

On episode 302 of EHS On Tap, Scott DeBow, CSP, ARM, Director of Health, Safety, and Environmental at Avetta, talks about recent research findings on the state of workplace safety. This episode is sponsored by Avetta.

ON TODAY'S FIFI, FEV & NICK: GUESTS: Will Ferrell & Molly Shannon - The Hawk Josh Fawarz AI Song Our AI Song Has Dropped Fifi Tried Tyra Banks Fried Ice Cream Fifi Has Only Just Finished Stranger Things Melbourne, Your Thoughts On The Stranger Things finale Bird Flu Is Back...And So Are The Twinnies What Happened To Josiah's Arm? Josiah's Tradie Labouring What Have You Never Tried? Subscribe on LiSTNR: https://play.listnr.com/podcast/fifi-fev-and-nickSee omnystudio.com/listener for privacy information.

+++ Alle Rabattcodes und Infos zu unseren Werbepartnern findet ihr hier: https://linktr.ee/gesundheitundernaehrung +++  Wir alle haben es in der Hand und können unseren Blutzuckerspiegel herrlich steuern, um noch möglichst lange gesund zu bleiben. Wie das geht, ob wir dazu wirklich einen Glucose-Sensor am Arm brauchen und warum Apfelessig als Ausnahme vor großen Mahlzeiten Wunder wirken kann, darüber sprechen wir heute. +++ Alle Rabattcodes und Infos zu unseren Werbepartnern findet ihr hier: https://linktr.ee/gesundheitundernaehrung +++ Schreibt uns gerne eure Fragen und Anregungen per E-Mail an: podcast@docfleck.com.  +++ Diese Folge wurde zuerst am 16.07.24 veröffentlicht. +++ +++ Dieser Podcast wird vermarktet von Julep Media: sales@julep.de +++ Wir verarbeiten im Zusammenhang mit dem Angebot unserer Podcasts Daten. Wenn Sie der automatischen Übermittlung der Daten widersprechen wollen, melden Sie sich hier: datenschutz@julep.de

Qualcomm just held its 2026 Investor Day, and the headline number is a new $15 billion AI data center revenue target for 2029 — up from essentially zero two years ago. We break down whether this fabless smartphone-royalty giant can actually pull off a pivot into AI data centers.We cover the AlphaWave Semiconductor acquisition and why Arm-based data center networking IP matters to hyperscaler customers, Qualcomm's 3D-stacked silicon packaging approach designed to work around the high bandwidth memory bottleneck amid the 2026 memory shortage, and the Modular acquisition — an AI-native software platform positioned as a potential CUDA alternative. On fundamentals, we walk through the revenue mix as smartphone growth slows to a 5% CAGR following the Apple wind-down, and why automotive and IoT are beating original targets. We close with a reverse DCF on the ~$190 stock price to see how much growth is already priced in, and why QCOM still holds a place in our portfolio as a diversified, value-oriented semiconductor stock.Content is for general information and entertainment only, not individual investment advice. All investing involves risk, including loss of principal. CSI owns shares of Qualcomm.Semi Insider members get full access to our research platform and tools. Join at chipstockinvestor.com.

C dans l'air du 13 juillet 2026 - Trump : le détroit, c'est à moi ! Les États-Unis vont « devenir les gardiens du détroit d'Ormuz », a déclaré lundi le président américain Donald Trump dans une interview téléphonique à Fox News. « Nous allons conserver le contrôle du détroit, et nous allons probablement l'exploiter. Nous deviendrons le gardien du détroit », a-t-il ajouté. Ces déclarations font suite aux nouveaux échanges de tirs entre les Etats-Unis et l'Iran ce week-end. Washington a visé des installations stratégiques dans l'ouest et le sud de l'Iran en riposte à l'Iran qui avait attaqué samedi un navire chypriote, qui empruntait selon lui une « route non autorisée » dans le détroit d'Ormuz. Ce lundi, les gardiens de la révolution ont tiré des drones et missiles contre des installations américaines situées à Oman et Bahreïn. Après de premiers échanges de tirs la semaine dernière, le cessez-le-feu signé entre les Etats-Unis et l'Iran le 17 juin est de plus en plus menacé. Face à ce conflit qui n'en finit plus, Donald Trump semble sans solutions. D'autant que les Iraniens semblent prêts à tout pour imposer leur loi sur le détroit d'Ormuz, « plus important que des dizaines de bombes atomiques », selon le conseiller militaire du Guide suprême iranien, Mohsen Rezaï. Vendredi, le guide suprême iranien Mojtaba Khameneï avait juré dans un message écrit de « venger » le « sang pur » de son père, Ali Khamenei. Donald Trump serait directement visé par un projet d'assassinat de la part du régime islamique, a rapporté le Wall Street journal la semaine dernière, citant des sources du renseignement israélien. « Mille missiles sont armés et prêts à être tirés (…) si le gouvernement iranien met à exécution sa menace (…) d'assassiner, ou de tenter d'assassiner, le président en exercice des Etats-Unis, en l'occurrence MOI ! », a immédiatement répondu le président américain Donald Trump sur son réseau Truth social. Ce ne serait pas la première fois que les Iraniens tentent de s'en prendre au président américain : en mars, un Pakistanais a été condamné par un tribunal fédéral de New York soupçonné d'avoir tenté de recruter des agents afin de commettre des assassinats pour le compte des gardiens de la révolution. En France, c'est dans le contexte de la guerre en Ukraine que le président Emmanuel Macron prépare le dernier défilé du 14 juillet de son mandat. Mardi, quelque 500 soldats des États membres de la coalition des volontaires ouvriront la parade sur les Champs Élysées, suivi par 25 militaires ukrainiens. Un « symbole fort de l'Europe, qui prend conscience de la dangerosité du monde et qu'il faut prendre en main son destin », a souligné l'Élysée dans un communiqué. Ce dixième défilé du chef de l'État doit illustrer le « réarmement stratégique de la France et le réveil stratégique européen », a ajouté l'Élysée. Depuis son arrivée au pouvoir en 2017, Emmanuel Macron a quasiment doublé le budget des Armées, passé de 32 à 57 milliards d'euros. Pour quelles raisons les combats entre les Etats-Unis et l'Iran ont-ils repris depuis ce week-end ? Faut-il prendre au sérieux les projets d'assassinat iraniens sur Donald Trump ? Et qu'attendre du dernier défilé du 14-Juillet pour Emmanuel Macron ?Nos experts :- Général Patrick DUTARTRE - Général de l'armée de l'Air et de l'Espace, ancien pilote de chasse - Gallagher FENWICK - Journaliste, spécialiste des questions internationales, ancien correspondant à Washington - Sofia AMARA - Journaliste et grand reporter, spécialiste du Moyen-Orient - David RIGOULET-ROZE - Chercheur à l'Institut français d'analyse stratégique, rédacteur en chef de la revue « Orients stratégiques », auteur de « La République islamique d'Iran en crise systémique » - (en duplex) Sonia DRIDI - Correspondante à Washington pour France 24 et LCI

durée : 00:02:11 - L'association Transparence citoyenne a demandé à l'Assemblée nationale et au Sénat de lui envoyer les notes de frais des députés et des sénateurs. Les deux chambres ont refusé, affirmant qu'elles étaient déjà contrôlées. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

Charles is joined by Nicholas Megaw, Principal of World Trade Securities, to discuss why investors aren't actually fleeing AI, the risk of retail leverage triggers in the Kospi, and why the current pullback in foundational names like Arm provides a massive second-chance opportunity. Learn more about your ad choices. Visit podcastchoices.com/adchoices

“A place that doesn't have great philosophers will not have great technologists either.” — Mehran Gul on Europe's inexplicable underperformance The digital revolution, we were promised, would mean the end of geography. From Beijing to Birmingham to Berlin to Barcelona, anyone could invent anything anywhere, and so the geography of innovation would no longer matter. But that's not the way it has worked out. At least according to the Geneva-based innovation geographer Mehran Gul. Gul's acclaimed The New Geography of Innovation is a travelogue of innovation. But what he finds on his journey around the world in search of innovation is the end of the end of geography. Yes, Gul reports, there's innovation in Beijing and in Birmingham (USA) — but not in Birmingham (England), Berlin or Barcelona. All the important invention is in China and the US. There simply isn't much radical stuff going on anywhere else. Gul began his journey expecting to find ten or twelve countries able to innovate competitively with the United States and China. But what he discovered is either niche players or, in the case of South Korea, Israel, and India, just an extension of the US-centric system. Europe — as renters rather than owners of American technology — comes off worst. When PayPal went public, it minted 160 millionaires who went on to help build SpaceX, Tesla, LinkedIn and Palantir; when Skype exited at about the same value, it minted 11. And if you put London aside, the rest of the UK is now poorer per capita than Mississippi. And the AI boom has only compounded all this, with half of last year's key research papers coming from China, 40% from America, and just 4% from Europe. So really the new geography of innovation is the old geography. Only with China replacing Europe as the only serious competitor to American innovation. Oh lord, oh lord. As a Mississippi bluesman might summarize Europe's predicament. Five Takeaways •       Golden Shares: The Two Systems Are Converging. OpenAI offering Washington a 5% stake, the US government owning Intel — these are Chinese moves, and Gul argues the two models are becoming more alike than either admits. But he pushes back on the lazy version of the China story: its tech sector rose despite the state, not because of it. Jack Ma exiled to Japan, Didi hit with a billion in fines, entire sectors decapitated overnight in 2021 under the banner of common prosperity. In a country with no independent media and no opposition parties, the only rival to centralized power is the tech sector — and the party knows it. •       Two Countries — and Everyone Else. Gul started writing expecting to find ten or twelve countries punching at America's level; the honest answer turned out to be two. Only China has broad-based competence across technologies and a genuinely competitive relationship with the US. The middle powers — South Korea, Israel, India — are extensions of the American system, not rivals to it. That finding surprised the author as much as anyone: it's not the book he set out to write. •       Europe: Renters, Not Owners. After the Fable 5 and Mythos bans, Europe woke up to being a renter of American technology — foundation models, NVIDIA GPUs, all of it. Its best companies keep leaving: DeepMind to Google, Arm to a New York listing, Hugging Face from Paris to Manhattan — while Volvo, Supercell, and KUKA sold to China. Gul's diagnosis is institutional, not cultural: European employees own half as much of their startups as American ones, so there is no European PayPal mafia. His fixes: a European Nasdaq to replace 41 competing capital markets, and pension funds unleashed into venture capital. •       The Question Nobody Is Asking. Since 1990, America's share of global GDP has held at 25% while China's multiplied tenfold — the loser is Europe. The top ten American tech companies are worth $27 trillion, more than the GDP of every country on earth except America itself. Tech is not one industry among many; it is the foundation of all of them — the new cars came from Tesla, not GM. Gul's message to the skeptical Spaniard enjoying long lunches: the last sixty years of American platform dominance skewed power across the Atlantic, and the next sixty will add China to the bill. •       The Rest of the Map: Anti Case Studies. Japan tops the freedom indexes, has the technical schools, and still never escaped the keiretsu — disproving Matt Ridley's claim that innovation is simply the child of freedom. Taiwan's relevance comes down to one company and Morris Chang's missed promotion at Texas Instruments. Singapore is an inspiration, not a model — a one-party city-state that invoices NVIDIA's chips and banks ASEAN's venture capital. India underperforms while Indians excel — 56 notable American foundation models last year, 35 Chinese, barely one Indian. And Switzerland reminds us innovation isn't only venture-backed: a train network running on renewables since the 1960s. About the Guest Mehran Gul writes about technology and business. He is the winner of the Financial Times/McKinsey Bracken Bower Prize, from which The New Geography of Innovation grew. He attended Yale as a Fulbright Scholar, Fox International Fellow, and Teaching Fellow, has been a Lead for the Digital Transformation of Industries at the World Economic Forum in Geneva, and served as an expert on entrepreneurship and industrial policy at the United Nations Industrial Development Organization in Vienna. Born in Pakistan, he lives in Switzerland. The New Geography of Innovation: The Global Contest for Breakthrough Technologies (Avid Reader Press/Simon & Schuster), a Financial Times Book of the Year, is his first book, out in paperback this month in the US and UK. References: •       The New Geography of Innovation: The Global Contest for Breakthrough Technologies by Mehran Gul (Avid Reader Press/Simon & Schuster). The Wall Street Journal: “An ambitious tour of technological innovation.” •       Sebastian Mallaby — author of The Power Law, which argues China's tech rise owes more to American-style risk capital arriving in Shanghai and Shenzhen than to the state; recently on the show discussing his biography of Demis Hassabis. •       Kai-Fu Lee — author of AI Superpowers, cited by Gul as the classic account of tech written through a Chinese lens. •       Matt Ridley — author of How Innovation Works, whose thesis that innovation is “the child of freedom and the parent of prosperity” Gul tests against the anti case study of Japan. •       Andrew Keen — author of How t...

In der heutigen Folge sprechen die Finanzjournalisten Daniel Eckert und Holger Zschäpitz über ein Allzeithoch bei Apple, Zuckerbergs Cloud-Wette und deutliche Aufrüstung bei Deutz. Außerdem geht es um Apple, Meta, Arm, Micron Technology, Applied Materials, SanDisk, Lumentum, Tesla, Amazon, Microsoft, Nvidia, Alphabet, SK Hynix, Schott Pharma, Siltronic, AstraZeneca, PepsiCo, BMW, TSMC, Delta Air Lines, XPeng, Horizon Robotics, Gotion High-Tech, Stellantis, Renault, Ford, Hyundai Motor, Porsche AG, Traton, Deutsche Bank, Bank of America, BlackRock, Visa. Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Hier könnt ihr den AAA-Newsletter abonnieren: https://www.welt.de/newsletter/article232797673/Alles-auf-Aktien-Der-taegliche-Boersen-Newsletter-fuer-WELTplus-Abonnenten.html Und – ganz neu: AAA gibt es jetzt auch auf Instagram: https://www.instagram.com/alles_auf_aktien/ Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien *Anzeige: Eight Sleep: Der Pod 5 reguliert die Temperatur im Bett automatisch, trackt Schlaf- und Gesundheitswerte ohne Wearable und kann so zu besserem Schlaf beitragen. Mit dem Code ALLESAUFAKTIEN erhaltet ihr auf https://www.eightsleep.com/allesaufaktien bis zu 350 Euro Rabatt.* Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

durée : 00:02:10 - Le député insoumis Éric Coquerel craint que l'instauration d'une présomption d'usage légitime des armes à feu par les forces de l'ordre ne multiplie les tirs et les morts, tués par des policiers. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

With James Woodfall, Communication and Behavior Specialist, Raise Your EI As AI makes expertise more accessible, what becomes an advisor's true advantage? EI expert James Woodfall explains why authentic human connection may be the one thing technology can't replicate. In Summary As artificial intelligence reshapes how information is delivered, financial advisors are being challenged to rethink what truly differentiates their value. Mindy Diamond sits down with James Woodfall, a former wealth management business owner turned emotional intelligence expert and founder of Raise Your EI, to explore why emotional intelligence may become one of the profession's greatest competitive advantages. Together, they discuss how rapport, curiosity, and authentic human connection influence trust, referrals, leadership, and client loyalty and why those skills can be developed just like technical expertise. The conversation also examines the difference between AI's “synthetic empathy” and the authentic relationships clients continue to value—and why that distinction matters to financial advisors now more than ever.   The Storyline For decades, advisors have built successful businesses by combining technical expertise with thoughtful financial guidance. But as AI makes information more accessible and planning tools more sophisticated, expertise alone is becoming less of a differentiator. James Woodfall believes the future belongs to advisors who master something technology cannot authentically replicate: human connection. Drawing on his experience as both a former wealth management firm owner and a specialist in communication and behavioral science, James explains why emotional intelligence isn't simply a “soft skill.” It's a business skill that affects nearly every aspect of an advisory practice—from building trust and earning referrals to leading teams and helping clients make difficult decisions. Mindy and James explore why asking better questions matters more than having better answers, how curiosity creates stronger relationships than scripts ever can, and why advisors who create memorable client experiences may find themselves even more valuable in an increasingly automated world. The conversation ultimately reframes AI not as a replacement for advisors, but as a catalyst forcing the profession to rediscover the uniquely human qualities clients have valued all along.   Topics Covered Emotional intelligence as a business skill Building trust through rapport and curiosity Authentic empathy vs. synthetic AI empathy The psychology behind client decision-making Why referrals are rooted in emotional outcomes Coaching advisors to improve communication Leadership and emotional intelligence AI's impact on advisor differentiation Creating premium client experiences Future-proofing advisory businesses > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why do better questions lead to better financial advice? (6:10) James explains why financial planning is only as good as the conversations that precede it—and why understanding a client's fears and aspirations leads to better outcomes than simply gathering financial facts. How does emotional intelligence translate into business growth? (15:30) Rapport isn't simply about making clients feel comfortable. James discusses why advisors who build trust quickly tend to earn more referrals and become significantly more referable. Can emotional intelligence actually be learned? (37:05) Contrary to popular belief, emotional intelligence isn't an innate personality trait. James explains why it is a trainable skill and how advisors can intentionally improve it throughout their careers. What makes authentic empathy different from AI? (39:10) One of the episode's most compelling discussions explores the difference between AI's ability to simulate empathy and the authentic emotional connection that develops between two people. Why should advisors think more about experience than efficiency? (45:10) Clients don't always pay more for information. Often, they pay more for confidence, judgment, reassurance, and the experience of working with someone they trust. Will AI replace advisors or elevate the best ones? (46:55) James shares why he believes AI is more likely to automate routine work while making relationship-centered advisors even more valuable. Key Takeaways Emotional intelligence is a measurable business capability—not simply a personality trait. Stronger client relationships begin with curiosity rather than advice. Advisors who solve emotional concerns make it easier for clients to recommend than advisors who simply deliver technical expertise. AI may replicate information, but authentic trust remains distinctly human. Premium advisory relationships will increasingly be defined by the experience clients receive—not just the answers they're given. Emotional intelligence improves leadership, client retention, referrals, and advisor well-being. The firms that embrace both technology and human connection will likely be best positioned for the future. https://youtu.be/xlQMQm6mqtc Quotable Moments “Rapport building is one of the foundational things for trust building.” “It's not real empathy. It's synthetic empathy.” “If all of our decisions were made on price, Ferrari wouldn't have a business.” “The advisors who create authentic human connection may be the ones who remain untouchable.” FAQs What is emotional intelligence, and why does it matter for financial advisors? James defines emotional intelligence as the ability to recognize, understand, and influence emotions in ourselves and others. For advisors, those skills strengthen communication, trust, leadership, and client relationships. Can emotional intelligence actually be developed? Yes. Unlike IQ, emotional intelligence can be improved through intentional practice, feedback, coaching, and greater self-awareness. Why do referrals have so much to do with emotional intelligence? Clients often remember and recommend how an advisor made them feel more than the technical work performed. Solving emotional concerns creates stories clients naturally share with others. What does James mean by “synthetic empathy”? AI can recognize language patterns and respond empathetically, but it doesn't genuinely experience human emotion. James argues that authentic empathy remains one of an advisor's greatest competitive advantages. How should advisors think about AI? Rather than viewing AI solely as a competitor, advisors should use it to improve efficiency while investing more time in conversations, judgment, and relationships that technology cannot fully replace. What is the biggest mindset shift advisors should make? Stop viewing emotional intelligence as a soft skill. Treat it as a business skill that directly influences growth, leadership, client loyalty, and long-term differentiation. James defines emotional intelligence as the ability to recognize, understand, and influence emotions in ourselves and others. For advisors, those skills strengthen communication, trust, leadership, and client relationships. Yes. Unlike IQ, emotional intelligence can be improved through intentional practice, feedback, coaching, and greater self-awareness. Clients often remember and recommend how an advisor made them feel more than the technical work performed. Solving emotional concerns creates stories clients naturally share with others. AI can recognize language patterns and respond empathetically, but it doesn't genuinely experience human emotion. James argues that authentic empathy remains one of an advisor's greatest competitive advantages. Rather than viewing AI solely as a competitor, advisors should use it to improve efficiency while investing more time in conversations, judgment, and relationships that technology cannot fully replace. Stop viewing emotional intelligence as a soft skill. Treat it as a business skill that directly influences growth, leadership, client loyalty, and long-term differentiation. Related Resources Why AI Matters Now: Filling the Estate Planning Gap with Wealth.com The Paradox of Choice Traps Successful Advisors Freedom vs. Familiarity: Is It Worth Disrupting Comfort for Something That Might Be Better? Guest Bio James Woodfall, founder of Raise Your EI, is a former financial planner who now advises financial services and firms on how they can leverage emotional intelligence (EI) to improve individual and organizational performance. He is the co-author, with Cliff Lansley, of “The Heart of Finance,” which teaches finance professionals to develop the emotional intelligence needed to build effective and profitable client relationships. 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… Emotional Intelligence: The “Untouchable” Differentiator in an AI World A conversation with Mindy Diamond and James Woodfall, Communication and Behavior Specialist at Raise Your EI.      Mindy Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Emotional Intelligence: The “Untouchable” Differentiator in an AI World. It’s a conversation with James Woodfall, Communication and Behavior Specialist from Raise Your EI. I’m Mindy Diamond, and this is the Diamond Podcast for Financial Advisors. 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. For years, advisors have competed on expertise, the ability to solve problems, deliver answers, and provide guidance clients couldn’t easily find on their own. But today, those answers are becoming easier to access via artificial intelligence and tools like ChatGPT, Claude, and Perplexity. AI can generate planning ideas, summarize complex topics, and answer questions in seconds. As the technology continues to improve, it raises an important question. If information becomes increasingly commoditized, what will clients continue to value most? My guest today, James Woodfall, is the Founder of the training firm, Raise Your EI, and a former wealth management business owner. James now helps advisors, leaders, and organizations strengthen the communication and behavioral skills that drive trust, influence, and performance. Skills rooted in emotional intelligence or EI, something that AI cannot authentically replicate. What’s interesting about James’s perspective is that he doesn’t view emotional intelligence as a soft skill. He views it as a business skill, one that impacts how advisors build rapport, earn referrals, lead teams, deepen client relationships, and ultimately differentiate themselves in an increasingly competitive marketplace that includes human and machine-driven advice. Our conversation explores why rapport is the foundation of trust, how emotional intelligence can be developed like any other professional skill, and why advisors who learn to create authentic human connection may be best positioned to thrive alongside AI, not compete against it. Or as James puts it, remain untouchable in the face of a changing world. Because while technology may continue to reshape how advice is delivered, the experience of being understood, trusted, and guided by another human being remains remarkably difficult to replicate. So, let’s get to it. James, thank you for joining me today, especially coming all the way from the UK. I’m grateful. James Woodfall: Thanks for having me on. Mindy Diamond: So, let’s start at the beginning. You’re a different kind of guest for us, and a topic that is near and dear to my heart because I’m always all about emotional intelligence and EQ, but it’s a topic that sometimes can feel a little squishy to some folks. So, tell us a little bit about your background and really how you got into the world of wealth management. James Woodfall: I got into wealth management probably was by accident while I was, I think about 19 years old. I got a job at a bank because I was living with different jobs and it was the first company that would take me. So I ended up working in a bank as a cashier in a branch. And then after a series of different career moves, I ended up running my own wealth management firm for about nine years, which I sold about three and a half years ago. Around the time that I was selling it, I did my first master’s degree in communication and behavior analysis, and that’s when I started taking a bit of a deep dive into understanding emotional intelligence and behavior and communication. But really, I started that journey before I sold my wealth management company, and really the goal was, how can I become a better financial advisor to my clients by having a better understanding of their psychology behavior around money so that I could communicate with them more effectively, help them build their plans? So I had a bit of a… like a lot of people I speak to in wealth management, they fell into it. Mindy Diamond: So, a lot to unpack there and I’m fascinated by your story. Tell us a little bit about how you began to use or leverage emotional intelligence. You say you got into it or were fascinated by it because it was a way of helping your clients. So, talk to us a little bit about that. How did you begin to see the impact long before you started this business? James Woodfall: So going back a couple of steps to that. When I started the business, it was very transactional. You’d sit down with the client, you find out about what sort of assets they have, what type of plans they have already, and you look for gaps where you can optimize things, or there was a product which they need which you didn’t have. But I moved away from that type of service to a financial planning led service. So, where actually before we get talking about, well, how do we structure your world? We spend a lot of time building a plan in cashflow modeling software. So the one that I used was over at a company called Voyant, and effectively I build a cashflow plan for the clients, which would map out based on assumptions of what age they would reach financial independence. And then that then would then move on to, how to we optimize your holdings? Now what occurred to me pretty quickly in offering that service is that the outputs from that type of exercise are only as good as the inputs. So you’re really relying on the client to be able to come up with the answers to the questions that you ask them to make the financial plan work. And in my experience, quite a lot of the time you sit down with these people and you ask them, “Imagine you’re retired, what does an ideal week look like for you?” So, what I realized is actually I was asking clients a lot of questions which no one had ever asked them before, such as, “If you go retire, imagine you’re retired tomorrow, what does your idea week look like?” Very rarely do we get asked that day-to-day, especially not from friends, family members, certainly. So I went off and actually did a diploma in coaching because I thought initially I want to become better at actually getting people to think about the future and think about plans. And in doing that, I ended up wanting to take a bit of a deeper dive into understanding behavior at a higher level. So that led me on to getting my masters. Impacts on clients though is that I became, and me as well, is that I became a far better listener first. So I listened first, I stopped making so many assumptions as I found I had about people. And really, I think that changed the dynamic in terms of me constant, I suppose, dictating to people about what they should be doing. So of course that’s what a good advisor does, isn’t it, is advice. You switch around into actually making sure you’ve got a deep understanding of people’s hopes, fears, goals, dreams, and then ultimately, you can help them better in terms of optimizing their financial plans and wealth. Mindy Diamond: Yeah. 100% of what you just said speaks to me in a big way, because that is 100% our philosophy. Most recruiters, I don’t mean it disparagingly, but most recruiters in general are pretty transactional. They see a hammer, they see a nail. So, a recruiter sees a financial advisor and he’s a means to an end to making a deal to a transaction. And our whole approach from day one was never about seeing you, financial advisor, as a transaction, but rather first and foremost, wanting to understand what’s important to you. And we get told all the time that we were asking questions that nobody ever asked them before. And I want to unpack it more, because I love what you’re saying. The goal as far as I see it is not just to ask a bunch of questions nobody asked before, but it’s to ask questions as a means to an end, to start out by asking questions that make somebody comfortable that tell them that you care about them. Then it’s about asking questions that they’ve never been asked before because the answers to a question like, “How do you see yourself behaving in retirement,” has everything to do with how much money they’ll need to retire. So, one informs the other. In our world asking somebody, “What are the things that spark you and what are the things that really don’t? And what will you do with this information?” And all those sorts of questions are questions many people had never been asked before, especially if somebody was looking at them as a transaction. And yet, it’s what deepens relationships, it’s what creates trust, and it’s what allows you to identify me as a recruiter, identify the best solution or the best opportunity for someone. So, do you agree with that? Is there anything that I’m off about? James Woodfall: No, that’s exactly the point. I think I’m asking better questions as a wealth manager talking to your client. Because ultimately this is, I suppose, one of the things which comes from understanding emotional intelligence, is that for most of us, we make decisions in motion first and then we justify with logic and reasoning, which is basically back to from. If I was to start with logical reasoning and then expect people to make a buying decision. And so a lot of the time, especially with things like retirement savings, for example, because it’s in the future, it’s over there, especially if it’s 10, 20 years away, people think, “Well, why will I give up so much money a month now for something which is so far in the future that I can’t comprehend it yet?” But if you start reigning the questions in a way which gets to kind of the… Really what you want to uncover is, if you wake up at 3:00 in the morning and you can’t get back to sleep, what’s on your mind? Because if you can uncover that emotion that fits all that kind of pain or problem, then you deal with emotion first and logic second. Mindy Diamond: And it tells you what you need to solve for, right? James Woodfall: Exactly, yeah. Mindy Diamond: If what keeps me up is I’m worried I’m going to outlive my money, and you know that’s your true north in terms of how you begin to tackle that they’re thinking about the future, they want you to focus on the long term. Right? Is that what you get from that? What’s the typical answer you get to that question, that one in particular? James Woodfall: For retirement planning, it’s usually clusters around. “Well, I’m not sure I’m making the right decision. There’s lots of options that are complicated. But really, actually, am I going to have enough money? Am I going to run out?” Because it’s the big question, isn’t it? How long are you going to live and how much are you going to need? Mindy Diamond: Right. As I was preparing for this interview, I think I know the answer because I’m a person that lives in this world that believes fully in, I don’t have a degree in behavioral finance but I’m big on emotional intelligence, connecting, developing trust, and that I don’t have any right to sell anybody anything or suggest anything unless I’ve connected on an interpersonal level. But I don’t know that everybody believes that. So help us, our listeners to understand, why does this matter to financial advisors? So, I’m going to give you two examples. I’m a younger advisor that has, say, five to 10 years in the business, say $100 million or 100 million pounds under management and is looking to really build a business. How and why does the concept of emotional intelligence, of EI, matter to me? And then I’m going to ask you the same question again with respect to someone who manages a billion dollars or a billion pounds. How and why does it matter? James Woodfall: Yeah. I think probably a starting point is, let’s just clear up I suppose in definitions so that we understand what we’re talking about when we say emotional intelligence, it’s an EQ. Because I suppose let’s think about, let’s call EQ the measurement, and emotional intelligence is the concept. So the definition of emotional intelligence is it’s an ability, and it’s this ability to understand and influence emotions in ourselves and others. So within ourselves, can we perceive and understand our own emotions? What turns them on? What triggers them? Can we do something about that? Can we recognize it, manage it in the right context, or either initiate our emotions in the right context? And can we do that when we’re talking to other people? So, are we good at perceiving people’s emotions within different contexts, and are we good at influencing and utilizing that information to help us communicate more effectively? So, these are skills which requires regard within those two roles to make you effective. And so, one of the things that we’ve learned from probably 30 years of people studying emotion intelligence is that if emotion is involved within the job role, emotional intelligence correlates with job performance and has a meaningful impact on the difference between an average and a big performer. So regardless of whether it’s one of the two scenarios that you’ve said, performance improvements are always on the table. But one of the things which tends to happen as you move from, say, up in terms of the money that you’re managing is the stakes get higher. So quite often, you actually need a much far higher degree of self-management, a higher degree of self-awareness, a higher degree of ability to perceive emotions in others, and to be able to communicate with influence. Because quite often as you are dealing with clients who are more affluent, there’s a correlation between actually the skills that your clients have and the skills that they expect you to have as an advisor. So the higher you go up that sort of ladder in terms of value, the more effective you need to be. So that’s where that EQ measurement. If you had to sit down and do an EQ assessment, for example, you need to be scoring way above average the higher up you go. Mindy Diamond: How will somebody begin to notice that developing the emotional intelligence muscle, developing the quantity of EQ, how will that begin to show up and impact their business? James Woodfall: There’s a couple of ways, and I think it really does show up in self-awareness and self-management and awareness and understanding of others. So one of the things which will show up in terms of that awareness and understanding of others is, can you build trusted relationships quickly? So like those skills that we were talking about before about asking better questions and listening, especially the first time you meet a new prospective client, if you can really turn your ears on and get very, very curious about the person that you’re talking to, rapport building is one of the foundational things for trust building. And really, if you get rapport building right, one of the goals should be to find common ground early, because the minute that you can build a connection with people and you start uncovering things that you’ve got in common, it starts signaling to people that actually you’re someone who is like them, on their side, and that they’re someone that you can trust. Now people who get this right, they tend to close more clients and they tend to gain more referrals or recommendations to other clients. And when I used to run my business, referrals was the largest source of new clients. Every single year, all the other different marketing streams, they didn’t produce anything near referrals. And I think back to that, if you look back to the kind of retirement example, if you can really get an answer to that question of, you wake up at 3:00 AM, what’s on your mind, what’s up when you’re getting back to sleep? If you can uncover that and solve that, for a client, it’s far easier to articulate that to a friend than it is for them to explain the technicalities of what you did with their retirement savings. But it’s easier to articulate, “You should absolutely go and see James. We were worried about whether we’re saving enough, he solved that, it’s brilliant, you need to go and see him.” That’s what I mean, is that they’re able to articulate the emotional outcome. Mindy Diamond: Even though what we’re talking about here is someone making the case that strengthening one’s emotional intelligence will make you a better advisor, easier to say that, sounds logical. But you’re connecting it to, you’re saying that someone who actually gets this right, gets it better, is going to create more of an instant rapport rooted in trust, and likely grow their business because it makes them more referable. And those are things that certainly every young advisor wants, but every advisor wants. So, let me switch the tables a second. I get why a young advisor with 100 million wants to get to a billion, why this is really important. They want to do everything they can to really make themselves the most referable. But let’s take the advisor that’s on the back nine that has been doing this 30 years, manages a billion and a half of pounds, dollars in assets under management, is growing by referrals and it’s an organic referral stream. It’s a business that feeds itself. So, while everybody always needs to be in business development mode, they feel like they’ve cracked the code, they’ve got it covered. How and why does this concept impact a senior advisor, someone with a much bigger, more robust book of business? James Woodfall: Yeah, it’s interesting. So if we take a bit of a step back and look at a bit about what some of the research says about the impacts of emotional intelligence, there have been some studies done within financial services about the impact of your training on business outcomes. So there was a study done probably around about between 2000 and 2004 with Ameriprise, and they brought their agents through a year-long emotional intelligence development program. And it was interesting, they measured at the beginning of the program EQ, what someone’s EQ score was, but they measured things like health, anger, trade anger. So, how often were people experiencing anger, stress, and burnout. So they’re measuring all sorts of things other than EQ just to see what the impact of EQ training was. Now EQ scores went up, sales went up, I think on average of about 24% across four cohorts. But things like stress, burnout, health outcomes, perceived health outcomes, people are asked to rate, how would you rate your health, that went up. Experience of anger went down because people become better at managing it. So as you look at the kind of example that you described, I would say that as someone who’s in that stage of the career where they may not have the capacity to take on more clients. So just think, well, actually, I don’t want an uplift of 20%, 24% in sales because I might not process that. But one of the things which I suppose the EI research shows actually is that it impacts your quality of life. And there is finding which is quite common in research, is that actually EI scores correlate with age. So as we go through life and we have sort of ups, downs, highs, lows, and we learn from those. We learn from our emotional experience, and that’s hypothesis, is it feeds into our EQ score. So you’ve probably got people at that later stage of their career who actually probably have had experience which has developed their emotional intelligence. They’ve got mature standing, which means that they might not necessarily need to go out and find new clients. They’ve got experience, which has helped them develop client relationships, but they might want to take a step back at quality of life. If they’re experiencing stress, burnout, pressure, EQ can help absolutely with all of those. The other thing which is quite common as well is that if they’re playing any sort of leadership part within that business now, let’s say if they’re a business owner, EQ absolutely is key for leadership performance. So making sure that you’re building a team of people around you, you can help you develop the business. And actually, EI and leadership’s one of the biggest areas where research has been focused. But I think one of the other things I’ve got to say is that we’ve all got blind spots. It doesn’t matter where we are in life, we’ve all got things that I suppose that we could be better at. And actually shining a lens on those and improving our self-awareness is something that you can develop at all stages. Mindy Diamond: A lot of people in our industry, whether it be a recruiter or an advisor themselves, believe that efficiency or being most effective and efficient is the true north. And that to ask what may fee like unnecessary or ancillary questions that don’t directly get to help me to figure out what your asset allocation is so that I can grow your portfolio, may feel ancillary. And so, is that one of the most common objections you get when somebody, say, comes to you and they’re thinking about retaining you and they’re wondering what the benefit is? James Woodfall: Well, I think the people in firms I tend to talk to, there’s a couple of common things that are coming to mind now. One is pressure around fees. So, how can I make sure I’m articulating my value in a time where clients are more informed, they can go on AI and they come to meetings prepared with answers, and they’re challenging back around the value that advisors can provide. So getting back, I suppose, and the answer is funnily enough, is actually if you’ve designed your service around a proposition which makes yourself easy to replace by someone else who can do it for the same or cheaper price with a promise of better performance, or even in the years coming, a robo-advisor, it’s going to be challenging to retain and grow clients. But I’m not particularly worried about AI. The other types of firms that come to me is to say, “Look, we’ve identified actually that we need to think differently about our business model, what we do and who we serve, because it’s going to be easier than it’s ever been for clients to come up to do some of these things themselves.” But absolutely what is untouchable, I think, is this ability to create a human connection, to sit down and discuss a range of different options. “Do I do X, do I do Y? What are the trade-offs if I choose that over that?” And to uncover those things which, as I said, really keep people up at night and solve for them. I think it’s going to be quite hard to replicate that digitally. Mindy Diamond: So I want to get to a end that you hit the nail on the head, and I want to delve deeper into it. Whatever the advisor is looking for, they may not worry about pressure around fees, they may not be kept up at night. They have a practice or a business that’s worked well all these years and is growing organically and it’s more than good enough. But anybody who isn’t concerned about the potential impact of AI on their business and whether they’re a financial advisor or recruiter or anybody else, is living under a rock. So, the goal for everyone should be to make yourself untouchable. And you hit it on the head, it’s the ability to create human connection. So, I want to ask you something. It occurs to me, you talk a lot about learning to ask the right questions. In some cases, the questions that a client never been asked before makes sense to me. But I think the real skill, I mean, I imagine anybody can teach you a list of questions to ask. The real skill comes in is knowing what to do with that information. So, let’s assume that someone says an advisor says you ask that smart question, “What keeps you up at night? What do you think about at 3:00 AM?” Pressure around fees. I find people, clients asking me, prospects asking me all the time what sort of value I can add, whether it be in the land of AI or competitively, whatever it is, pressure around fees. What do you do? So you’ve asked the smart question, but what do you teach? What do you do with that information? James Woodfall: It’s a mindset, I think, because having just say a list of questions I don’t think is really helpful to any advisor when you’re training them. And yet I find I do get people who, okay, say, “Well, look, what questions should we ask? Have you got a list of questions that you would ask?” I hold back giving those out because I think that, well, that’s what I would say. It’s not necessarily going to land the same way if you say it. The mindset I’m trying to teach advisor is to adopt a curious mindset. So not asking questions for question’s sake, but if I’m talking to someone, what I want to do is I want to understand, how are you thinking? How do you see the problem? What assumptions are you making? What things do you believe which maybe don’t line up with how things are in reality, or goals, objectives, or whatever it is. So I’m trying to understand how you think, and that requires not asking questions off a list of great questions to ask, comes off of understanding the format for that, is utilizing the open questions to gather information, to check assumptions that might sit behind them, because actually understanding those assumptions is really, really useful. And to then summarize and play back to someone that you’re talking to so that you can demonstrate that you’re listening and you deeply understand them, and being able to summarize and be able to succinctly put their words into a, “Well, what do we do next about this?” Mindy Diamond: Yeah, and, why does it matter? I love that because what I always say is it’s art, not science. AI could give you a list of, if I put in the topic of emotional intelligence and give me a list of 10 smart questions to ask relative to X. One of the questions I would ask someone from an emotional perspective that demonstrates I have strong emotional perspective relative to pressure around fees, AI could spit out the questions. But I think you’re 100% right. The real key is being a good listener and meeting someone where they are. And it’s not about a prescribed or canned list of questions that demonstrate you have strong emotional intelligence. It’s much more about asking the right next question, saying the right thing, the validating statement afterwards. And not as a means to an end, not as a means to a transaction, not as just a way of checking the box, I have emotional intelligence, but really because demonstrating that you deeply care. And I like what you said, the notion of a changed mindset. Do people get that right away? I guess what I’m asking is, financial advisors, while smart ones who are looking to make themselves untouchable by AI will get that concept. They’re looking to differentiate themselves and they’re looking to hone the skills that AI can’t bring to the table. But at the same time, financial advisors are number oriented and goal oriented. And so, how long does it typically take to begin to see, or how do you paint the picture about getting from here to there, connecting the dots between strengthening changing your mindset, strengthening your emotional intelligence, and seeing more results? James Woodfall: Well, look, it’s about behavior change, isn’t it? Like any kind of behavior change, there has to be a few things at play. One is that you have to have a good understanding of where you are right now, what things that you are good at, but what things you need to work on. And then effectively the things you need to work on, you need a plan of how you’re going to work on them. So I think commonly how you develop these kind of relational skills is that you need to be able to get close to, what does the goal look like? Where am I headed? If I get this right, what’s it going to look like? And then you need to have a plan to get from A to B. And actually part of that plan has to be built around good feedback. And I was quite lucky where during my career, I worked for two large banks before I started my firm. And I had really, really good training from managers that I worked with, almost on a monthly basis would come and sit in my client meetings and then feedback to me about what I could have done better. And so actually, if you’re going to really commit to developing, I suppose relational skills and becoming more emotionally intelligent, you need help from someone within your firm or externally to come in and actually observe you by trying out new things and giving you feedback. Now of course, you could do some of that yourself if you’re doing a virtual meeting, you could hit record, play it back, be your own analyst. But quite often we can’t see that ourselves, but if you’ve got say a third party, they can watch you in action. Quite quickly they can hone in and say, “Well, actually, you could have asked a different question here, or actually if you’d phrased that like this, you might’ve got a bit more information, or the client closed down when you ask that question.” So actually then, you start to create that behavior change. So feedback I think is one thing, but actually aligning it with really, values, I think. So, one of the things that I suppose is quite important for behavior change is that we are motivated to do things where we strongly believe it’s the right thing to do. So, I think which is why it can be quite difficult for a firm to bring in with a team of advisors and say, “Well, we’re going to roll out emotional intelligence training,” because you’ll get some of us go, “This is brilliant.” Mindy Diamond: Eye roll. I would imagine eye roll is the… It can be a lot of the response, right? James Woodfall: You get a lot of resistance, because some people see it as a criticism of just saying, “Well, actually I’m good at that. I don’t need training in that, thank you very much.” Mindy Diamond: And because if efficiency in getting to a goal is the true north, I mean, I think the mindset shift you’re talking about is going from believing that getting to the goal by just asking the right numbers and dealing in data, changing that from it’s about building a relationship, which ultimately will impact the amount you manage and how you grow and how you connect and all of that stuff. But for people that are goal-oriented, linear in their thinking, I imagine this can be not just felt as a criticism but hard to embrace. James Woodfall: Oh, yeah, no. I think we view the brain as kind of a black box. I do get people I speak to, they go, “Mental health isn’t real. And all of this is psychobabble,” but from the people that I’ve had feedback from, and this is even for people I haven’t trained. I wrote a book about 18 months ago about the topic which talks about emotion intelligence within the 5X context. I’ve had people contact me on LinkedIn and say, “Look, I read your book. I’ve been following your content for a while. I’ve put some of the ideas to work, and I’m now getting my manager and their manager contact me and saying, ‘What are you doing differently?’” Because all of a sudden they’re opening up conversations with clients that they couldn’t before, doing business with clients where they couldn’t before. And all it is that this kind of focus on the client, the relationship, building that connection, and all of a sudden you start seeing that convert into more sales opportunities. Mindy Diamond: Yes and more yes, because that’s always been our philosophy, my philosophy from starting the business and our philosophy, and I couldn’t agree with you more. You articulated it probably as did, I got to it instinctively. You have research behind it, etc. By the way, for our listeners, we will link your book in the notes for this episode if anybody’s interested in buying it. But you hit the nail on the head, so, or you took the words out of my mouth in terms of next question. Who are your clients? Are they individual advisors? Are they independent RIAs? Are they Morgan Stanley and Merrill Lynch? And what kind of work do you do for them? James Woodfall: So, I do, there’s probably two parts to my business. One is the consulting training part, which is going into firms, typically firms that were the owner managed typically, where the owner either is still advising or has a big impact on other behaviors of the advice team that’s underneath them. And really, I work on a consultancy basis. So rather than going and just provide EI training, what I do is effectively start with understanding the business. So exactly as I’ve been talking to you about, the process I used to follow as an advisor, it’s the same process I follow when I’m working with practices, is I want to find out what’s going well in the business. Where are the blockers, what’s not going so well? And I’m a social science researcher. So I’d want to spend some time in the business actually doing a bit of a deep dive and maybe speaking to the team while the owner’s not in the room and finding out a bit about how they’re seeing things. Because ultimately, what that will do is it allows me to look at thematically extracting what types of training interventions might move the needle within the business. And then I put that onto a report for businesses and say, “Look, this is what I think we should be doing.” Some of that might be me working one-to-one, doing that coaching, observing, training with particular people in the business who have been highlighted as requiring development, or it might be group training, might be taking the whole teams through a training program. And then following up, helping build those development plans, and then being there supporting with the one-to-ones as they bed in that behavior change. So, that’s one part of the business. The other part of the business is working for the larger firms. I’ve done a bit of work for Fidelity this year and last year, and they’re looking to hire me as an authority expert on the topic to put together training programs that go out to the advisors that they work with. So, there’s the two aspects, like an external speaker trainer that’s brought in by some of the larger companies. And then the other one is a bit more hands-on, applying not only the science but my experience of having been there and run a business. Mindy Diamond: Right. So are the big firms like… So you mentioned Fidelity, are the wirehouses, Merrill, Morgan, UBS, Wells Fargo, are they embracing this? Are the big banks embracing it, or is this largely in the RIA space right now? James Woodfall: In the UK, there’s been a huge kind of interest in emotional intelligence, behavioral finance, relational skills. And actually, a lot of the kind of people who require influential in the UK are actually based in the US. And so, I think there’s a good bit of crossover. We’ve got good people who are specialists in looking at the retirement piece from a retirement transition about, how do you support people through what is a profound psychological transition? So, I think the RIAs are really interested in it as a topic. Then we’ve got the larger institutions are interested in it either as the RIAs are clients of theirs and they want to be seen to providing thought leadership to the RIAs and helping them develop these skills. But also, we’ve got some quite large companies in the UK now here, like the banks, for example, the banks or the whole exited the advice market in around about 2012, 2013, and then this year they’re starting to come back. So they’ve had 15 years nearly out of the market and they’re coming back because they’re just wanting an opportunity for face-to-face advice. So, I think actually it’s a hot topic now and I think all segments of the market are looking at, how do they develop non-technical skills to help them succeed in the future? Mindy Diamond: Can someone who was not born with strong EQ, can they learn this? James Woodfall: Absolutely. One of the interesting things about EQ is it’s not like IQ, for example. IQ is our a sort of cognitive ability. There was some good research that was done probably about, I think 2016, which looked at, do you remember all this sort of brain training apps like, if you do Sudoku, do you get smarter? You get better at Sudoku, but it doesn’t translate into performance on another. You don’t get better at crosswords from doing Sudoku, for example. So, IQs are pretty much fixed and there’s not a lot we can do about that. But EQ has been shown to be a trainable ability. So regardless of where you are now, if you understand your strengths and weaknesses and put a plan together for improvement, everyone has the ability to improve their EQ. And it’s not like personality, for example, where it’s quite hard to shift the dial. Let’s say if you’re quite strongly introverted and you find social situations difficult, if you just took that approach and said, “Well, look, can we make you extremely extroverted?” The answer would be, well, probably not. But EQ absolutely helps that person because noticing that you feel uncomfortable in, say, a networking situation if you have to do that professionally, having the tools in the bag to manage that feeling and throw yourself into the experience, that’s EQ in action. So, it doesn’t matter your baseline of where you are, EQ can have a big impact on your ability to perform across a range of different contexts, home, work, with friends. Mindy Diamond: Yeah. Let’s talk about your comment that EQ or strong emotional intelligence is what can make an advisor untouchable by AI. And I assume the premise being that, I can’t replace a human relationship. It may be able to come up with the questions, but at least for today it lacks the ability to know what to do with that information and to create the human connection. Talk to me more about that. How and why is that? I mean, is that part of why people are coming to you, because they’re worried about AI encroaching on their business? James Woodfall: Where we are at the moment is actually AI… Let’s look at healthcare for a second. Chatbots in healthcare have actually been outperforming humans in some respects. So there’s a type of therapy called cognitive behavior therapy, that’s been run with AI agents and patients. And as researchers to show that actually, disclosure has increased when patients are speaking to a chatbot because cognitive behavior therapy is like it’s guided, is a method, it’s a methodology to it. But disclosure increases and this theory behind that is is that people open up more when they don’t feel like they’re being judged by another person. So that’s interesting, because that saying to us, “Well, actually, people are trusting AI agents with very, very personal information, and people are already getting that feeling of empathy with AI agents.” Because if you tell an AI agent something deeply personal and it says, “That must have been really difficult for you,” for example. Mindy Diamond: Yeah, it does that well. Wonderful feedback about how great you are or what a smart question you just asked. James Woodfall: Yeah, but it’s synthetic, it’s not real empathy, it’s synthetic empathy. Whilst we might feel actually we get that feeling that we’re being understood, it’s not real. And I think the advisor’s edge is, look, I think where we might end up with this is that if you take a step back and you do this kind of exercise of what’s my ideal client, the ideal client is, I think, now is someone who is still time poor. So yes, an AI agent might be able to interview you, build a financial plan, but do you really want to spend the time doing that or do you have any inclination to do that? No. Well, that’s a perfect client who would hire an advisor. They value human relationships. Obviously when we do get AI entering the advisor market, it’s going to be at a lower price point. So actually, we’re now talking about a difference between experience. So the experience of being with an advisor comes at a premium. So that experience is going to be what people are going to pay additional value for. So, it’s the experience of dealing with a human. It’s the experience of dealing with a human who can talk them through complex information and options, help them understand their thinking and apply judgment, connect with those emotional things. But there’s a whole range of information that we get when we’re talking face-to-face, which AI doesn’t have access to. So back to that retirement example, if we say, “Well, man, I’ve modeled your plan. If we do X, Y, and Z, you’re not going to run out of money when you retire. You’re going to be okay.” And then the person, usually what they do is they sigh with relief, which is actually the emotion of joy, relief is actually happiness. So that sigh of relief and the softening of muscle tension in the body that you see when you’re face-to-face with another person, AI can’t, doesn’t get that data. Mindy Diamond: And how powerful is that? So, why does that matter? If I say, “I have X, I need Y. I have X number of years until I retire. Will I have enough money to retire the way I want to?” AI can spit that answer out faster than any financial advisor and come back hopefully saying, “Yes,” they’ll know that I will experience relief and joy because I’ll write back saying, “Great news.” It’ll say, “Yes, that is fabulous news.” It’ll tell me why I’m relieved and all that sort of stuff. So, why does that matter? James Woodfall: I think fundamentally, it comes back to trust. For those people who can get that quick answer, they’ll go, “Yeah, that’s great.” But there’ll be some people who go, “Yeah, fine. I’ll take that answer at face value.” There’ll be other people who go, “Well, what if you made a mistake?” Quite interesting that actually, people will get the same answer from a human advisor and they’ll trust it more. And I think one of those things is because we’re wired for connection, so when empathy develops, it’s quite interesting. Something which you see in young children, for example, is when we develop at the very early stage, probably about three or four years old, before children have learned to self-regulate their emotions, you see emotional contagion in groups of children happen quite rapidly. You get one child who say gets a toy taken away from them and starts crying, and then all the other children at the same age in the nursery start crying. Now, none of those other ones are crying because they’re sad. They’re crying because we have these things called mirror neurons, which means we pick up and mirror the emotional state of people around us. So, you actually get an experience of shared feeling and especially if you’ve got strong rapport, strong relationship, you actually share emotions of the people around you. Now, of course, as we grow out of that developmental stage, we learn this ability to understand that actually what we’re feeling isn’t happening to us, it’s happening to someone else. But have you ever been around… My favorite example for this is, if my wife has had a bad day at work because she comes home and starts slamming the door and banging cupboards, why I start to feel anger, because it’s rubbing off, it’s in the room. So, it’s this shared understanding that I think is where the value is. And so absolutely the answer might be faster and quicker, but for some clients they value that experience of having that answer delivered by someone who understands them. Mindy Diamond: And I think, so the point is that there will be clients or prospects that will value the efficiency of AI, that don’t necessarily need the face-to-face, that don’t necessarily… They just want the answer. They want the answers to the test, they don’t care how you got there. But what you’re talking about is finding the clients that really value the human connection. And if that’s what in fact is going to make advisors untouchable, then they need to make sure that they really strengthen this skill. James Woodfall: It’s not just the answer, but it’s the whole experience that’s wrapped around that. So actually last year, and my wife took me to a restaurant and we had a lovely, lovely meal. And on the menu there was this cup of coffee and the beans were like one of the rarest beans in the world. They’re the ones that get eaten by this little animal with the jungle in it, poops them out, and then the beans get roasted. But it was about 40 pounds for this cup of coffee and I thought, well, I’m going to have that. But that’s the experience, isn’t it? I could get a cup of coffee at McDonald’s, but actually the experience of this, something which is rare, exclusive, delivered in an amazing environment, that’s what you’re paying for. So, you’ve got to remember that actually if experience dictates a lot of what we value as well. So because if all of our decisions were made on price, Ferrari wouldn’t have a business because everyone would just be buying the cheapest car that does the job. You’re going to think advisors that are going to operating in this space, well, they need to think about the whole package, as in the experience that the plan that’s delivered, and the advice. Mindy Diamond: But it speaks to the notion of any advisor that isn’t thinking about AI’s impact on his business and how to reshape or rewire the business, even just rewiring the value proposition, retooling their value proposition, how they explain their value and what they do needs to change because they’re competing not only with the advisor that sits next to them or down the hall, but they’re competing with AI. How about as AI, as you see AI develop? So fast-forward five years, you and I are talking about where AI is today, but AI is, God knows where it’ll be five years from now. So, how do you foresee, do you still foresee the advisor being untouchable if they get this right, five or 10 years from now? James Woodfall: I don’t think it’s financial advice that’s unique with this, because I think it’s any profession where at the moment human judgment and understanding are valued. Healthcare, for example, same thing, doctors follow consultancy process. You’ve got this like tax, legal, a whole range of professions which are all grappling on the same problem. So I think in five years time, I think the answer is, is that we just don’t know what AI will look like. But certainly in the moment, if you track what Claude are doing with code work, and what Perplexity is doing with its skills and add-ons, a lot of it is actually at the moment geared up to freeing up the advisor’s time so that they can spend more time with clients. So, I think at the moment this sort of trend is looking like AI companies want to support advisors to be way more efficient so that they can deal with more clients. But in five years time, who knows? I think probably one of the biggest leaps that will happen is when AI is no longer working from, say, just a transcript. If it gets out to that kind of chat where you can actually interact with an AI agent like you and I are talking, I think that’s going to provide a different experience, because then you’re moving it from, as I said, that kind of structure where somebody is stuck there tapping away at keyboard, having a conversation with a chatbot, effectively, to actually having a conversation with an embodied agent with a face, gestures, a voice. That I think will start to change things a little bit. Mindy Diamond: Yeah. Well, it will be an interesting future, for sure. This has been a fascinating conversation. I really enjoyed it, and thank you so much for sharing so graciously. Is there anything to wrap up that I didn’t ask you, that you would want an advisor to know about this concept or anything you’re thinking about? James Woodfall: I think we’ve taken a broad sweep and then a deep dive into certain areas. I think really probably have to get started. I think probably one of the… I mean, you mentioned obviously I’ve got a book that you share the links to, which is fantastic. Audiobook is available to that as well on Spotify or wherever audiobooks are listed. I think there’s a lot of good advice in that about how to get started. So, I think for people who are looking at covering that next step of, what do we do, it’d be, yeah, pick up a book and have a bit of a deep dive. If you want to skip the book and come straight to having a conversation with me, then I write a weekly email, which goes out once a week, which is just one topic. So very much like we’ve been talking today, I share ideas on that once a week, or on LinkedIn, I’m around on LinkedIn as well. Mindy Diamond: Good. Well, we will link all of it so everyone knows how to find you. Thank you again for being so gracious. Love the topic, love the work that you’re doing, love that there’s a need for it, and can’t wait to see where you go from here. James Woodfall: Brilliant. No, I enjoyed it. Thank you. Mindy Diamond: Thank you. 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. Emotional Intelligence: The “Untouchable” Differentiator in an AI World A conversation with Mindy Diamond and James Woodfall, Communication and Behavior Specialist at Raise Your EI.      Mindy Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Emotional Intelligence: The “Untouchable” Differentiator in an AI World. It’s a conversation with James Woodfall, Communication and Behavior Specialist from Raise Your EI. I’m Mindy Diamond, and this is the Diamond Podcast for Financial Advisors. 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. For years, advisors have competed on expertise, the ability to solve problems, deliver answers, and provide guidance clients couldn’t easily find on their own. But today, those answers are becoming easier to access via artificial intelligence and tools like ChatGPT, Claude, and Perplexity. AI can generate planning ideas, summarize complex topics, and answer questions in seconds. As the technology continues to improve, it raises an important question. If information becomes increasingly commoditized, what will clients continue to value most? My guest today, James Woodfall, is the Founder of the training firm, Raise Your EI, and a former wealth management business owner. James now helps advisors, leaders, and organizations strengthen the communication and behavioral skills that drive trust, influence, and performance. Skills rooted in emotional intelligence or EI, something that AI cannot authentically replicate. What’s interesting about James’s perspective is that he doesn’t view emotional intelligence as a soft skill. He views it as a business skill, one that impacts how advisors build rapport, earn referrals, lead teams, deepen client relationships, and ultimately differentiate themselves in an increasingly competitive marketplace that includes human and machine-driven advice. Our conversation explores why rapport is the foundation of trust, how emotional intelligence can be developed like any other professional skill, and why advis

Life sciences are at a turning point, where scientific innovation, regulatory pressure, and patient expectations collide with unprecedented advances in data, AI, and digital platforms. IT is no longer a supporting function but a critical driver of how therapies are discovered, developed, scaled, and delivered safely and at speed.This week, Dave and Rob wrap up our State of Life Sciences mini-series with Thorsten Rall, Global Industry Lead for Life Sciences at Capgemini and together, they connect the dots across the series, exploring how AI, data and innovation are accelerating drug discovery, transforming med tech, modernising manufacturing and improving patient outcomes, all built on a strong digital foundation. TLDR00:27 – Introduction and conclusion of the Life Sciences mini-series 02:16 – Key insights and lessons from the previous episodes on the Life Sciences landscape 21:18 – Building resilient, efficient and future-ready operations 34:35 – Creating integrated, patient-centric healthcare experiences 43:15 – Why the Digital Core is the foundation for transformation and innovation 53:21 – Final reflections: the future of Life Sciences and the key takeaways 54:53 – Weekend BBQs, Thorsten's daughter's theatre performance, and the role of R&D HostsDave Chapman:  https://www.linkedin.com/in/chapmandr/Esmee van de Giessen:  https://www.linkedin.com/in/esmeevandegiessen/Rob Kernahan:  https://www.linkedin.com/in/rob-kernahan/with co-host Thorsten Rall: https://www.linkedin.com/in/thorsten-alexander-rall-b232185/ ProductionMarcel van der Burg:  https://www.linkedin.com/in/marcel-vd-burg/Dave Chapman:  https://www.linkedin.com/in/chapmandr/ SoundBen Corbett:  https://www.linkedin.com/in/ben-corbett-3b6a11135/Louis Corbett:   https://www.linkedin.com/in/louis-corbett-087250264/ 'Realities Remixed' is an original podcast from Capgemini

durée : 00:02:17 - L'ancienne ministre Agnès Pannier-Runacher a fait une erreur de langage en juin 2025 en disant que la canicule avait été "déclenchée". Des internautes climato-complotistes y voient un lapsus révélateur. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

Americký prezident Donald Trump označil summit NATO v Ankaře za úspěšný. Chválil atmosféru i závazek spojenců zvýšit výdaje na obranu. Podle bezpečnostního experta Jana Ludvíka ale největším úspěchem bylo, že se podařilo zachovat jednotu Aliance a vyhnout se sporům. Jaké jsou dnes vztahy Evropy se Spojenými státy? A jak si na summitu vedla česká delegace? Řeč bude i o prioritách nového náčelníka Generálního štábu Armády ČR.Všechny díly podcastu Jak to vidí... můžete pohodlně poslouchat v mobilní aplikaci mujRozhlas pro Android a iOS nebo na webu mujRozhlas.cz.

The final episode in the series. Over eight episodes, you built a product, a platform, and four marketing funnels. Now: how do you grow without chasing every new trend?The answer is the Simple Six — six metrics that drive every business: client headcount (HEAD), average revenue per client (ARM), length of engagement (LEG), return on investment (ROI), effective hourly rate (EHR), and net owner benefit (NOB). These six multiply each other, creating compounding growth when improved systematically.The process: brainstorm tactics for each metric (the SixStorm), set a 6% improvement goal, focus on one metric at a time for a maximum of one month, execute, then move to the next. If you improve one metric by 6% every month, you double your business in a year — that's math, not motivation.For single-person businesses without staff, the "hold the gains" mechanism is systems and AI. When a tactic works, build it into a repeatable process and automate what you can. Your four marketing funnels are the foundation; the Simple Six is how you improve them, one lever at a time, forever.The episode emphasizes consistency over novelty. Ninety percent execution on what works, ten percent experimentation. Your business is limited by its leadership — you are the ceiling, not the floor.This episode includes three concrete examples across different industries, plus the SixStorm exercise you can complete immediately.This concludes the Starting A Single-Person Business series.Connect with Chris Cooper:Website - https://businessisgood.com/

Ben Plumley speaks with Dr. mike Reid and Eric Goosby about their new book Redefining Global Health in the 21st Century, focusing on epistemology—how global health defines knowledge, evidence, and success. They argue global health has overprioritized biomedical metrics and donor-driven targets, often sidelining local knowledge, community co-design, and broader measures like sustainability, equity, and trust. Using examples from HIV/TB programming, maternal health, differentiated service delivery, and integration vs vertical programs, they discuss how humility and partnership shape effective, resilient responses and how “measurement is rarely neutral.” The conversation addresses threats to key populations under current political decisions, the need for epistemic justice and a preferential option for the poor, failures in academic authorship equity, and how shifts in US leadership and the climate crisis may reshape global health governance. They also stress better explaining global health's value to taxpayers. 00:00 Local Wisdom vs Evidence 00:55 Meet the Authors 01:45 Epistemology and Priorities 05:09 Epistemic Humility 08:51 PEPFAR Lessons on Partnership 10:39 Measurement Is Not Neutral 13:18 Motivation and Co-Design 21:09 Integration vs Vertical Programs 25:05 Equity and Key Populations 32:06 Politics and Funding Dilemmas 34:31 Moral Case for Care 36:09 Domestic Front Lines 36:56 Beyond Us Versus Them 40:10 Epistemology and Donor Power 44:15 Inclusive Leadership Priorities 47:37 Vacuum After US Retreat 51:09 Climate as Next Crisis 55:34 Decolonizing Academic Incentives 57:55 Preferential Option for Poor 01:00:27 Selling Global Health at Home 01:04:36 Three Arguments for Taxpayers 01:06:56 Closing Reflections and Next Episode Learn more about the book: https://bit.ly/redefining-global-health More from UCSF Institute for Global Health Sciences: https://globalhealthsciences.ucsf.edu Check Out mike Reid's Substack: https://substack.com/@reimaginingglobalhealth Check Out Ben's Substack: https://substack.com/@benplumley1 Join the Conversation! What would it take for global health to avoid decline? Share your thoughts in the comments! Subscribe & Stay Updated: Listen on Spotify, Apple Podcasts, or your favorite podcast platform. Watch on YouTube & subscribe for more in-depth global health — and look out for a dedicated sub channel for Redefining Global Health in the 21st Century under A Shot in the Arm's YouTube home. Redefining Global Health in the 21st Century: The Podcast (Playlist on Youtube) https://youtube.com/playlist?list=PLW7yagTEtywqvW9_bs6heRikREgwS9sE9&si=TuNEdwcA9Z-VKLH A Shot in the Arm Podcast Youtube (Main Channel) https://youtube.com/@shotarmpodcast

Hitze, Ferien, Freibad - das gehört einfach zusammen. Es ist gesund, sich abzukühlen, egal ob beim Bahnen schwimmen, beim Rutschen oder Springen. Weniger gesund und trotzdem ein Muss: Eis und Pommes. Da hört der Spaß mittlerweile aber auch auf. In diesem Sommer nerven eingeschränkte Öffnungszeiten wegen Personalmangels, lange Schlangen am Eingang und dann auch noch Regelverstöße, die allen Stress machen. Manche Bäder schließen sogar ganz und Kindern fehlt die Gelegenheit, Schwimmen zu lernen. Freibäder sind unverzichtbare Erholungsinseln, Treffpunkt, Orte des Sportes und des sozialen Miteinanders - am Beckenrand sind schließlich alle gleich. Was kann also helfen, sie zu erhalten? Darüber spricht Moderatorin Karen Fuhrmann mit Volker Nies vom Betreiber des Freibades Rosenau in Fulda, Martin Holzhause von der DLRG, dem ehemaligen Profi-Schwimmer Thomas Lurz und der Politikwissenschaftlerin Ursula Münch. Podcast-Tipp: Radiowissen Das Freibad - Badespaß mit Geschichte Anfang der 1920er erlebte Deutschland einen Boom von neu gebauten "Freibädern". Einerseits hieß "frei", nicht in Hallenbädern schwimmen zu müssen. Andererseits bedeutete "frei" eine Gleichberechtigung jeglicher Form. Frau und Mann, Reich und Arm, alle sonnen sich und baden vereint unter freiem Himmel. Ein Podcast von Martin Trauner https://www.ardsounds.de/episode/urn:ard:episode:8598e84c67c34122/

durée : 00:02:22 - Plusieurs dizaines d'internautes ont dénoncé des arnaques aux climatiseurs, alors que la France connaît, début juillet, un troisième épisode de canicule en moins de deux mois. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

durée : 00:02:07 - La ministre des Sports Marina Ferrari affirme que l'État soutient financièrement les projets de piscines sur le territoire, alors que les épisodes de canicule se succèdent en ce début d'été. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

Aan het einde van het tweede kwartaal vonden beleggers 't wel welletjes met die geheugenchips. Hup, daar gooiden ze Micron, Samsung en SK Hynix en andere chipbedrijven van de trap. 'Rotatie', las je dan in de media. Maar zelf vonden de geheugenchippers het nog lang niet genoeg. Analisten verwachten dat Samsung morgen 18 keer zoveel winst gaat melden op jaarbasis over het tweede kwartaal. En rivaal SK Hynix? Dat gaat vrijdag eventjes lachend 28 miljard dollar ophalen in de VS. Mein Gott! We bespreken wat dit betekent voor chipbeleggers. Daarbij laten we natuurlijk de flinke daling van Besi niet onvermeld. De chipverpakker van Richard Blickman kreeg slecht nieuws: de invoer van hybrid bonding, de efficiënte chipverpakkingstechniek waar Besi hofleverancier van wil worden, wordt waarschijnlijk opnieuw uitgesteld. Verder mag je een nieuw bruidspaar feliciteren, want EasyJet geeft na vier aanzoeken eindelijk het jawoord aan bruidegom Castlelake. Soms moet je even onderhandelen over je bruidsschat. Ze zijn uitgekomen op 5.5 miljard pond. Maar waarom staat EasyJet dan nog steeds te koop voor makkelijk een miljard pond minder dan die overnameprijs? Kan dat bod echt nog stuklopen voor de deadline van 3 augustus? Verder hoor je nog: Wat de opname van SpaceX in de Nasdaq 100 betekent voor SpaceX én indexbeleggers. Dat gaat morgen gewoon door. Was het 't nou waard om allemaal op je kop te gaan staan vanwege die snelle opname in de index? Waarom de beurswaarde van Softbank lager is dan zijn belang in chipmaker Arm. Huh? Hint: ganzenrisico. Waarom de tijd eindelijk is aangebroken voor de nucleaire beursgang van Holtec. Te gast: Erik Mauritz, senior adviseur Nederland bij Trade Republic BNR Beurs is een journalistiek onafhankelijke productie, mede mogelijk gemaakt door Saxo. Over de makers: Jelle Maasbach is presentator van BNR Beurs en freelance financieel journalist. Zijn favoriete aandeel om over te praten is Disney, maar daar lijkt hij de enige in te zijn. Sinds de eerste uitzending van BNR Beurs is 'ie er bij. Maxim van Mil is presentator van BNR Beurs en journalist bij BNR, waar hij zich focust op de financiële markten en ontwikkelingen in de tech-wereld. Je krijgt hem het meest enthousiast als hij kan praten over ASML, of oer-Hollandse bedrijven zoals Ahold of ABN Amro. Jorik Simonides is presentator van BNR Beurs, economieredacteur en verslaggever bij BNR. Hij wordt er vooral blij van als het een keer níet over AI gaat. Je hoort hem ook in de BNR-podcast Moerdijk: dorp van de rekening. Milou Brand is presentator van BNR Beurs, freelance podcastmaker en columnist bij het Financieele Dagblad. Jochem Visser is presentator van BNR Beurs, maakt Beursnerd XL en is redacteur bij de podcast Onder Curatoren. Vraag hem naar obscure zaken op financiële markten en hij vertelt je waarom het eigenlijk nóg leuker is dan je al dacht. Over de podcast: Met BNR Beurs ga je altijd voorbereid de nieuwe beursdag in. We praten je in een kleine 25 minuten bij over alle laatste ontwikkelingen op de handelsvloer. We blijven niet alleen bij de AEX of Wall Street, maar vertellen je ook waar nog meer kansen liggen. En we houden het niet bij de cijfers, maar zoeken ook iedere dag voor je naar duiding van scherpe gasten en experts. Of je nu een ervaren belegger bent of net begint met je eerste stappen op de beurs, de podcast biedt waardevolle inzichten voor je beleggingsstrategie. Door de focus op zowel de korte termijn als de lange termijn, helpt BNR Beurs luisteraars om de ruis van de markt te scheiden van de essentie.See omnystudio.com/listener for privacy information.

Arm wrestling clubs are springing up all over the state. Now, Ohioans are representing Team USA at the world championships and rising through the international ranks.

In this episode, Ray Cochrane digs into Claude Science, Anthropic’s new AI workbench for researchers, and explains why its auditable, reproducible outputs matter more than the AI itself. He also covers Google’s June AI recap, the Pulpie web-cleaning model, the PamStealer Mac malware, a synthetic cell that divides on its own, and the first-ever treatment trial for the Bundibugyo strain of Ebola. Finally, he looks skyward with NASA’s year-long Mars simulation and a can’t-miss July skywatching night. – Want to start a podcast? Its easy to get started! Sign-up at Blubrry – Thinking of buying a Starlink? Use my link to support the show. Subscribe to the Newsletter. Email Ray if you want to get in touch! Like and Follow Geek News Central’s Facebook Page. Support my Show Sponsor: Best Godaddy Promo Codes Get 1Password Full Summary Cochrane opens with a quick personal update. He mentions a busy stretch at Blubrry and an upcoming local move, followed by a late-August trip to Michigan with his partner. He also notes that Oregon is at its summer best right now, with flowers everywhere. Then he sends a happy 30th birthday to his sister Anna before diving into the lead story. Claude Science: Anthropic’s AI Workbench for Researchers Cochrane leads with Claude Science, which Anthropic describes as an AI workbench for scientists. It pulls together scattered research tools into a single environment and ships with more than 60 skills and connectors for fields such as genomics and structural biology. According to Anthropic, every result carries an auditable history: the exact code, the computing environment, and a plain-language account of what happened. For Cochrane, reproducibility is the real story, not AI, because a result that nobody can reproduce does not count for much. The tool runs on macOS and Linux, with Windows support via WSL, and Cochrane says he already has it set up on his own machine for his machine learning work. Notably, it arrived during a busy week for Anthropic. The company also shipped an upgraded Sonnet 5, and its top-tier Fable 5 model returned after a brief pause tied to a US export-control order. Sponsor: GoDaddy Economy hosting $6.99/month, WordPress hosting $12.99/month, domains $11.99. Website builder trial available. Use codes at geeknewscentral.com/godaddy to support the show. Google Recaps Its June AI Push Next, Cochrane runs through Google’s roundup of its June AI announcements. A Gemini-based prototype aims to help local councils clear administrative backlogs and halve the time to process planning applications. Google is also backing seven bipartisan bills against scams. Meanwhile, its research models now predict river floods up to seven days out, track wildfire boundaries, and forecast cyclone paths. Pulpie Cleans Up the Web for a Fraction of the Cost This one comes from Hugging Face. Pulpie is a web extractor that strips a page down to its main content and tosses the ads, headers, and sidebars. That matters because language models read the web twice, once in training and again at inference. According to the team, cleaning a billion pages costs about $7,900 with Pulpie versus roughly $159,000 with the leading tool, Dripper, and it is open for anyone to use. An AI Alexander Hamilton Comes to Boston The Museum of American Finance, a free Smithsonian affiliate, opens a new home on July 3 at Boston’s Commonwealth Pier. Its headline draw is an AI-generated Alexander Hamilton that chats with visitors in multiple languages. However, Cochrane finds it fun but wonders how much of an upgrade an AI kiosk really is over a scripted one. Arm’s June Roundup: Azure Silicon and Better Mobile Graphics From the Arm newsroom, Cochrane highlights Cobalt 200, Microsoft’s Azure processor tuned for agentic AI. Two Unreal Engine features, MegaLights and Nanite, are also coming to mobile to deliver richer lighting and detail. Additionally, a small open-source robot called Reachy Mini shows off on-device physical AI. Arm also continues shrinking large language models to fit on phones. Meta Marks Ten Years of Backing Python Meta just hit its tenth straight year sponsoring the Python Software Foundation. The nonprofit keeps the language healthy and its global community funded. Beyond funding, Meta supports the developer-in-residence program, PyPI security, and open-source tools like the Pyrefly type checker. Cochrane urges listeners to push their own companies to sponsor the open-source projects they rely on. PamStealer: Mac Malware That Verifies Your Password First Ars Technica reported a stealthy new macOS infostealer called PamStealer. It shows a fake password prompt, then validates the entry through Apple’s own PAM system, so it only keeps confirmed correct passwords. The malware spreads via a fake disk image that poses as Maccy, a legitimate clipboard manager. Cochrane’s advice is simple: only download from maccy.app, and never run a script or press Command-R just because an app told you to. Apple Creator Studio Gets a Suite-Wide AI Update Apple rolled out AI features across its Creator Studio apps. Final Cut Pro leads with auto-generated captions, edit detection, and an auto-mask tool. Meanwhile, Pixelmator adds Match Color, and Logic Pro gains chord identification plus a full teaching session behind a real track. Cochrane calls that built-in lesson a nice leg up for anyone learning to produce music. New York’s Heat Wave Sparks a Thermostat Fight From Inside Climate News, Cochrane covers the backlash after New York Mayor Zohran Mamdani urged residents to set thermostats to 78 degrees. That advice matched what Con Edison, the state’s largest utility, was already saying. Cochrane sets the politics aside and focuses on the real goal: keeping the grid from buckling during a brutal heat wave. A Synthetic Cell Grows and Divides on Its Own Quanta Magazine reports a major breakthrough. Researchers built a cell from nonliving parts, and for the first time it grew, copied its DNA, and split into two daughter cells. That dividing step had stalled the field for years. Cochrane credits Kate Adamala and her team at the University of Minnesota, who cracked it with a clever membrane trick. First Treatment Trial Begins for the Bundibugyo Ebola Strain The World Health Organization launched the first-ever treatment trial for Bundibugyo, a distinct Ebola strain, amid a serious outbreak in the Democratic Republic of Congo. It is the largest Bundibugyo outbreak on record, with about 1,400 cases and 438 deaths, and Uganda is now seeing cases too. The trial tests an antibody cocktail and the antiviral remdesivir. Cochrane also notes the WHO declared the recent shipboard hantavirus outbreak over. An Orbital Sunrise From the Space Station NASA astronaut Chris Williams photographed a stunning sunrise from the International Space Station on June 26. Because the station circles Earth so quickly, the crew sees sixteen sunrises and sixteen sunsets every single day. Cochrane points listeners to the full image on nasa.gov. NASA Seeks Volunteers for a Year-Long Mars Simulation Scientific American reports that NASA is recruiting for its next Moon and Mars Exploration Analog. Volunteers will live inside a habitat for a full year, facing the isolation and resource limits of a real mission. It begins no earlier than August 2027 at Johnson Space Center. Cochrane admits it is not for him, but calls it an amazing opportunity. NASA’s July Skywatching Guide Finally, Cochrane looks up. On July 11 and 12, a crescent Moon lines up with Mars, Saturn, and Uranus before dawn. Then July 14 brings a new Moon, a great window for the returning Comet 10P/Tempel 2, and prime Milky Way viewing. Saturn’s thin ring angle is a bonus through a telescope. Cochrane wraps with the usual housekeeping and a reminder that every GoDaddy click supports the show. As always, he signs off wishing listeners a great night. The post Claude Science: AI Workbench for Scientists #1868 appeared first on Geek News Central.

This week in the business of podcasting:Sounds Profitable released The Podcast Atlas, a study of more than 5,000 U.S. consumers mapping the creator economy into five territories: audio, video, short-form clips, newsletters, and social platforms.Tom Webster's follow-up analysis, The Format That Travels, uses the Atlas data to argue audio wins the ad environment battle, capturing 78% of hands-busy listening moments and topping every platform on listener trust and ad receptivity.Miroma Group acquired audio advertising agency Ad Results Media, marking a major U.S. expansion move that folds ARM's podcast-native performance advertising expertise into Miroma's broader agency portfolio.Ben Robins' latest Purchase Funnel installment digs into UK podcast ad conversion data, finding strong purchase rates among younger listeners but a notable gap among listeners 55 and older compared with other platforms.Cannes Lions recaps from Next Audio's Lemya Soltani and Sounds Profitable's Bryan Barletta highlight how podcast networking events can be run on a shoestring budget, alongside a new Sounds Profitable YouTube panel on why niche podcast communities can outperform broad-reach shows on advertiser metrics.To find links to these, and every article covered in today's episode, click here. You can also subscribe to The Download's newsletter to receive the full issue straight to your email inbox every day.

This week in the business of podcasting:Sounds Profitable released The Podcast Atlas, a study of more than 5,000 U.S. consumers mapping the creator economy into five territories: audio, video, short-form clips, newsletters, and social platforms.Tom Webster's follow-up analysis, The Format That Travels, uses the Atlas data to argue audio wins the ad environment battle, capturing 78% of hands-busy listening moments and topping every platform on listener trust and ad receptivity.Miroma Group acquired audio advertising agency Ad Results Media, marking a major U.S. expansion move that folds ARM's podcast-native performance advertising expertise into Miroma's broader agency portfolio.Ben Robins' latest Purchase Funnel installment digs into UK podcast ad conversion data, finding strong purchase rates among younger listeners but a notable gap among listeners 55 and older compared with other platforms.Cannes Lions recaps from Next Audio's Lemya Soltani and Sounds Profitable's Bryan Barletta highlight how podcast networking events can be run on a shoestring budget, alongside a new Sounds Profitable YouTube panel on why niche podcast communities can outperform broad-reach shows on advertiser metrics.To find links to these, and every article covered in today's episode, click here. You can also subscribe to The Download's newsletter to receive the full issue straight to your email inbox every day.

durée : 00:02:15 - Des internautes font un lien entre leur orientation sexuelle et la prise de Doliprane pendant la grossesse de leur mère. Ils reprennent une fausse information donnée par l'influenceuse Maeva Ghennam. - équipe : Armêl Balogog, La cellule Vrai ou faux Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

A Special Industry Update, With Jason Diamond and Mindy Diamond Jason and Mindy Diamond revisit how advisor due diligence is evolving—from AI and enterprise value to firm stability, ownership, and optionality—and why those questions matter more than ever. In Summary Due diligence has always been about finding the right fit. But what advisors are evaluating has expanded considerably. In this replay of an Industry Update, Jason Diamond and Mindy Diamond revisit The Advisor Transition Playbook to explore how advisor priorities continue to evolve. Beyond the traditional reasons advisors consider change, they discuss newer factors shaping decisions today—from artificial intelligence and enterprise value to ownership structure, firm stability, and long-term optionality. The conversation reinforces that while every advisor's motivations are personal, the evaluation process has become far more strategic. Today's advisors aren't simply comparing recruiting deals or platforms. They're considering how today's decisions may influence the value, flexibility, and future of the businesses they're building. The Storyline For years, advisor movement was largely driven by familiar themes: bureaucracy, management changes, technology frustrations, and the desire for greater independence. Those factors remain important. But the conversations Diamond Consultants has with advisors today increasingly include questions that rarely surfaced just a few years ago. How should AI factor into firm selection? What is the long-term value of building enterprise value instead of simply maximizing a recruiting package? How important is a firm's ownership structure? And how should advisors think about stability in a marketplace where acquisitions, recapitalizations, and private equity investment have become commonplace? Jason and Mindy revisit the transition framework introduced in Part 1, focusing less on the mechanics of making a move and more on the evolving criteria advisors are using to evaluate their options. The result is a broader discussion about due diligence—not simply as a transition exercise, but as an ongoing strategic process for advisors seeking to build their best business life. Topics Covered Advisor due diligence Traditional vs. emerging drivers of advisor movement Artificial intelligence in wealth management Enterprise value and advisor ownership Recruiting deals versus long-term economics Reverse due diligence Firm ownership and stability Private equity in wealth management Advisor optionality Building a long-term advisory business Blubrry Player > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why are the traditional drivers of advisor movement still relevant? (4:00) Jason and Mindy revisit the longstanding push-and-pull factors that continue to influence advisor decisions, from bureaucracy and management frustrations to the desire for greater ownership and control. How has AI become part of the due diligence process? (13:50) The discussion explores why advisors increasingly expect firms to demonstrate a clear AI strategy—and why investment, integration, and vision may become meaningful competitive advantages. Why should advisors care about enterprise value, even if they don't technically own their business? (24:30) Jason and Mindy explain why more advisors are evaluating decisions through the lens of long-term business value rather than solely short-term economics. What does reverse due diligence really involve? (37:15) The conversation highlights why advisors should evaluate prospective firms with the same rigor firms use when evaluating advisors. How does firm ownership affect advisor optionality? (38:00) Private equity, acquisitions, and changing ownership structures have made it increasingly important to understand what happens if a firm's strategy changes after an advisor joins. Why has due diligence become more strategic than ever? (45:30) The episode concludes with a broader discussion about defining one's “best business life” and making decisions that align with long-term goals rather than reacting to short-term frustrations. Key Takeaways The reasons advisors evaluate change have expanded well beyond traditional frustrations such as bureaucracy and compensation. AI has become an increasingly important component of firm evaluation, not because it replaces advisors, but because it can enhance productivity and client service. Enterprise value is becoming a consideration even for advisors who currently work within employee models. Reverse due diligence is just as important as a firm's evaluation of an advisor, particularly when assessing ownership structure, capitalization, and long-term stability. The most effective transition decisions balance immediate economics with long-term flexibility, ownership, and optionality. Every advisor's definition of success is different, making clarity around personal goals the foundation of any due diligence process. https://youtu.be/WZbUZJZK1yc Quotable Moments “Every advisor deserves to live their best business life.” “Just because you're frustrated doesn't mean you should move. You need something worth moving toward.” “The question isn't simply what you're paid today. It's what you're building over time.” “Knowledge is power. Understanding what your business is worth should be part of every advisor's decision-making process.” FAQs Why are more advisors expanding their due diligence beyond compensation? While transition economics remain important, advisors are increasingly evaluating technology, AI capabilities, enterprise value, ownership opportunities, and long-term flexibility as part of the decision-making process. How should advisors evaluate a firm's AI strategy? Rather than looking for finished products, advisors should assess whether a firm has a clear vision, meaningful investment, and an integrated approach to using AI to improve advisor productivity and client experience. What is reverse due diligence? Reverse due diligence is the process of evaluating a prospective firm as thoroughly as the firm evaluates the advisor. It includes understanding ownership structure, financial stability, culture, technology, leadership, and long-term strategy. Why does enterprise value matter for employee advisors? Even advisors who do not currently own their businesses may benefit from understanding how different business models create opportunities for ownership, long-term value creation, and future monetization. How has private equity changed advisor due diligence? Private equity has introduced new opportunities for growth and capital, but it has also made it more important for advisors to understand ownership structures, investment horizons, and what future transactions could mean for their business. What does Diamond Consultants mean by an advisor's “best business life”? It refers to aligning an advisor's business model, goals, client experience, compensation, flexibility, and long-term vision in a way that best supports both the advisor and the clients they serve. While transition economics remain important, advisors are increasingly evaluating technology, AI capabilities, enterprise value, ownership opportunities, and long-term flexibility as part of the decision-making process. Rather than looking for finished products, advisors should assess whether a firm has a clear vision, meaningful investment, and an integrated approach to using AI to improve advisor productivity and client experience. Reverse due diligence is the process of evaluating a prospective firm as thoroughly as the firm evaluates the advisor. It includes understanding ownership structure, financial stability, culture, technology, leadership, and long-term strategy. Even advisors who do not currently own their businesses may benefit from understanding how different business models create opportunities for ownership, long-term value creation, and future monetization. Private equity has introduced new opportunities for growth and capital, but it has also made it more important for advisors to understand ownership structures, investment horizons, and what future transactions could mean for their business. It refers to aligning an advisor's business model, goals, client experience, compensation, flexibility, and long-term vision in a way that best supports both the advisor and the clients they serve. 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. Related Resources The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 1 Annual Advisor Transition Report Top 10 Tips for a Strategic Due Diligence Process Should I Stay or Should I Go? View the transcript of this episode… The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 A Special Industry Update with Jason Diamond and Mindy Diamond. Jason Diamond: Welcome to a replay of one of the most popular episodes from our podcast series for financial advisors, The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between. It's Part 2 of a 2-Part Industry Update with Mindy Diamond. I’m Jason 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. Jason Diamond: There’s been a noticeable shift in how advisors are approaching decisions about their business, not necessarily in whether they’re exploring change, but in what they’re focused on when they do. Mindy is back with me for a continuation of our earlier conversation on the Advisor Transition Playbook. Last time, we spent time on the mechanics, how due diligence works, what a move actually entails, and how to think through the process. What’s become more apparent since then is that the inputs into that process are evolving. The traditional drivers are still there, but layered on top are a set of considerations that didn’t carry the same weight before. AI is one of them, and not just as a tool, but as a differentiator that advisors are starting to diligence more seriously. Enterprise value is another. Showing up in conversations, even for advisors who don’t technically own their business, but are thinking more critically about what they’re building over time. And then there are questions around stability, ownership, and flexibility. What happens to the firm itself and whether advisors retain the ability to adapt again if circumstances change. None of this is theoretical. It’s showing up in real time conversations. What we want to do here is unpack those new triggers of advisor movement and what they suggest about how decisions are being made today. So let’s get to it. Mindy, the legend, thank you for joining me. So glad to have you on. Mindy Diamond: Thank you. I’m so happy to be here. Jason Diamond: Great. Let’s dive right in. I’ll set the stage really quickly one more time. When we spoke about this topic last, we talked about the drivers of movement, what we’ll call in this conversation as the old or the legacy drivers of movement, and we spoke about the mechanics of the move. Before we get into the new drivers of movement, which I want to be the meat of the conversation, remind us, when we talk about the legacy drivers of movement …. And by the way, by saying legacy, I by no means want to suggest that they’re not valid today, because they’re equally valid, if not more so today than they were then. But when you think of the classic drivers of movement in our industry, what are they? Mindy Diamond: Yeah. So I would say, first of all, let’s start by saying that for every advisor, they’ve got a unique set of needs. So the first thing to say is that while you and I can talk about the categories of frustrations or things that might bother an advisor, they show up differently in each advisor’s life. So it’s important to note that everyone is unique. But generally speaking, if I had to package them, I’d say it’s number one that shows up most of the time is too much bureaucracy. A feeling that a firm or a model is just too hypervigilant in terms of compliance and it’s too bureaucratic and too hard to get things done. Number two would be some sort of change in or frustration with management. Something is going on that the person or persons that are responsible for managing the business are just not … They’re not the wind at their back. They’re obstreperous. They’re causing difficulty and frustration. And probably the third one would be less about a pain point and more about the desire to be something that they couldn’t where they were. The notion that they want to be more independent, they want to be a business owner and they just can’t do that. That doesn’t exist within the model where they work. Those probably have been the three ones top of mind, but I bet you’ll have some … You’ll add to that. Jason Diamond: I’ll add a couple. But before I do, I’ve heard you talk about this topic, maybe said another way as pushes and pulls. Can you explain what you mean by that? Mindy Diamond: Yeah. So I think that we think about the pushes, the frustrations, the things pushing somebody out the door, the factors that make it less easy or less fluid to do business. And there’s almost always pushes that exist when somebody comes to us, where they’re frustrated to some degree or another about certain things. But we tell people all the time that just to be frustrated should never be enough, because if all you’re doing is running from one set of problems, you’re very likely to run into maybe a different set, but still problems elsewhere. So a move needs to be driven in equal part, if not more, by pulls. Being pulled toward an opportunity that can be needle moving enough or better enough than where you are now. Pushes and pull. Jason Diamond: I love it. So let me ask you a little bit of a pointed question. Is a recruiting deal a valid pull factor? Mindy Diamond: So look, it’s different for every person. We’ve had advisors come and say, “I just went through a divorce and the most important thing to me is to recapitalize. And so a recruiting deal is really important.” And while I would never be one to say that’s not valid, it can be … And by the way, any advisor should want to and expect to better their financial situation. There should be economic gain. But it shouldn’t be the only or the primary reason for the move. So you want to monetize. The notion of wanting to monetize in the short term should be a factor in what model you pick, but it shouldn’t be the primary driver for a move. Jason Diamond: I agree with that wholeheartedly. I was going to say something I think maybe would’ve surprised you a little, which is like, yeah, I think recruiting deal is a very valid pull factor because what we’re saying is, it shouldn’t be the only pull factor. And sometimes it is and it makes us a little bit sad, I think, when that’s the case. But all of these factors you mentioned, and the ones I would add, I think that maybe technology would be another kind of factor that drives movement, all of these factors are not one specific reason. If you did the exit interview, either actually conducted the exit interview with advisors or thought exercise exit interview, I think they would point to a confluence of all of these factors. Compliance was a headache. I wanted to launch a podcast. I wanted to be able to send a timely communication to my clients. We used to hear that one during COVID a lot, right? By the time compliance approved something to send to clients, it was already stale. So do you agree with that, that it’s generally a confluence or a combination of these? Or in your experience, is it advisors are like, “No, compliance or the tech is so bad, I’m out”? Mindy Diamond: Yeah. So most often there’s a straw that breaks the camel’s back incident or thing where they’re willing to put up with a series of minor paper cuts, if you will. And then almost always there’s something that happens. You and I got a call the other day from a team that said that they had split from their partner and the management of the firm was favoring the ex-partner, making it harder for them to stay or making it less fun or feel good for them to stay. So while they gave me a laundry list of things that were imperfect, I don’t know that any one of the things that were imperfect up until then would’ve been enough to drive them out. But when that one thing, that feeling that they were a second class citizen came up, that was the straw that breaks the camel’s back and went from a minorly frustrated to, “I’m out of here.” Jason Diamond: Yeah. And there’s probably a hundred examples you could walk us through. And I wanted to just highlight too, this concept is not limited to the wirehouse or employee or captive firm world, this is equally relevant for independent advisors. Granted, some of the pushes and pull factors, some of the triggers are not necessarily the same, but the idea that advisors outgrow a broker dealer or an RIA or either need or want or desire in some way, shape or form, greater autonomy, flexibility, freedom, control is certainly not limited to the employee space. I just wanted to make that point. Mindy Diamond: And I think that’s absolutely right. I think the notion of that frustrations or limitations or bureaucracy only existed if you were a W2 employee at a bulge bracket firm. That went out the window. As the industry landscape has expanded and there’s more and more valid ways to be a financial advisor, there’s more and more ways for a firm or a model or an infrastructure to frustrate an advisor. And that’s not being overly negative. It’s just to say there is no perfection anywhere. Jason Diamond: Yeah, 100%. And by the way, to play a little bit of devil’s advocate on that, and then we’ll move on, I would just say there are pain points that might come from a firm being small and subscale as well. My firm doesn’t have efficient technology. They don’t invest enough in the business. They don’t provide a lead mechanism. They don’t have a robust banking and lending or investment solutions platform. So this stuff cuts both ways. An advisor can be frustrated or limited and an advisor can be excited. Pushes and pulls I think touch on, we’ve heard from advisors in every single pocket of the market, this is a relevant concept. Mindy Diamond: The theme of this is that every advisor deserves to live their best business life. That’s what people are in search of when they reach out to us or when they engage with us. What they’re looking for more than anything, and this is irrespective of where they work or how long they’ve worked or how much they manage, every advisor is in search of their best business life. And what defines their best business life is having the best quality of work life, but also the best ability to do what they want to do with their business, to serve their clients without limitations, to grow the way they want, to be paid a fair wage, and ultimately set up to maximize the value of the business they’ve built. Those are the definitions of one’s best business life. Jason Diamond: I used an even simpler definition of best business life and I stole it from you, which is the true north concept, which is if your true north is maximizing enterprise value and chasing the dollar and trying to build something that’s scalable and saleable, then great. If your true north is to build a lifestyle practice, there’s plenty of advisors who are successful and happy and content in that regard as well. And I think that’s what we’re talking about, is finding your true north and then it’s possible. I mean, that’s the beauty of the landscape. We’re talking about this, a lot of this is pain points or things that advisors experience. The exciting part of this is there’s never been a better time to be an advisor because of the breadth of choice they have and the ecosystem that’s been born to support advisors, to your point, across the spectrum. Mindy Diamond: Yeah. And it’s also, I think, worth saying that it starts with really good crystal clear clarity around not only what’s frustrating you, but what you want ideal to look like. Because I can’t tell you, or I can tell you because … I can’t tell our listeners, I can’t stress enough how often we get calls from advisors that tell us where they think they want to be or tell us they want to move. They have clarity about what’s frustrating them or what they want to change, but they don’t really have clarity about what they want it to look like. And the less clarity you have, the less likely you are to be successful in finding the exact right solution. So our work, the thing we probably do best is really work with advisors to help them. It doesn’t take long. In an hour conversation, we can help them to really get crystal clear on what they’re looking to solve for. Jason Diamond: Absolutely. All right. Great appetizer. We set the table. Let’s dive into the main course now. I want to talk now about what I’m calling the 2.0 triggers or the new triggers of movement. And to be clear, it’s not that these are more important or better or more significant drivers of movement. In fact, you could argue they’re probably at present less significant than the ones we just listed. But I think what we’re saying is these are triggers that are starting to come up more and more in conversations and we expect them to only proliferate further. And in that regard, they’re noteworthy and important for advisors because advisors should be reconciling not just what are the things I need to be worrying about today, but also what are the things I need to be potentially worrying about five years from now. So with that in mind, let’s dive in. I think the first one we have to start with is AI. And I always chuckle a tiny bit when we mention AI, we used to have to specify what are we talking about. Are we talking about artificial intelligence or alternative investments? And now it’s very clear. Everybody knows we’re talking about artificial intelligence. So the direction of the industry, no over-dramatization to say is at stake here. It’s that important of a topic. Let me ask you just very simply first, is this coming up in conversations with advisors? Mindy Diamond: Oh, all the time, but it’s almost table stakes. So I think the way it comes up is that people assume, advisors assume, and by the way, have the right to assume that AI is part of the tech stack. The notion that if I’m evaluating a firm and part of what frustrates me or part of what’s really important to me is cutting edge, really robust technology, part of what I am expecting is that a new firm is going to have really robust technology. And part of that is really robust access to AI. And has honed the AI in a way that’s user-friendly, that really answers or delivers on making me a better … Not replacing me as an advisor, but making me a better, more efficient advisor. Jason Diamond: 100%. And I would also add, so as I think about this AI topic, I don’t want this to become a conversation around, is AI going to replace advisors, because I think we both agree that’s not going to be the case. Especially at the top end of the market for quality advisors, I think they’re not going anywhere. But in my view, when we think about the trigger of movement, AI has the potential to be transformative because a couple kind of use cases or trigger cases come to mind, and I’d love to hear your thoughts. One is, do you think advisors will potentially consider a move because they’re worried about this? So in other words, play this logic out with me. I’m 55 years old and I’m like, “Oh man, AI might be coming from my job.” And there’s firms offering 400% of revenue to move my book. Maybe I should take that check and kind of de-risk and monetize while I can. What are your thoughts on that? Mindy Diamond: I absolutely think we’re already working with that fall into that category, but to say that is the only reason for the move would be wrong. I’m grateful that people trust us enough to be transparent with us. So they let us know that underneath the notion that they want to better serve clients, they ultimately want better access to A, B, and C, they want to be able to do D, E and F with less restriction, is really the main reason for the move. But underneath it, the notion that my book, I want to protect myself. My book may well be the biggest it’s ever going to be. It is going to be worth more today than it could be in the future if things don’t go my way. And if I know I’m going to move and one of my goals is to monetize, I might want to do that now. Jason Diamond: I agree. And that’s where the top deal story comes in also. Firms paying a top deal is a part of that story. It’s what you just said, plus advisors know firms are willing to pay incredible multiples. I mean, as we speak, UBS is in market with one of the largest deals in history. So those two narratives side by side, I agree. I think this becomes more of a kind of catalyst or driver movement. It’s come up in my conversations on both sides of the spectrum. It’s the tech savvy, AI savvy advisors who are excited about this, who are like, “I want to be the most AI enabled version of myself I can be. It’s going to make me a rockstar and it’s going to widen the gap with my peers,” but it’s also come up with the people who are, I think, rightly scared and fearful about what this might mean for their job. Mindy Diamond: Let me ask you, what are examples of the way you’ve seen some of the best firms who have embraced AI? What is their narrative? What is it that they’re saying to advisors that if you come here from a tech or AI perspective, you’ll be better because we’re able to do … Fill in the blank. Jason Diamond: Yeah. So a couple that come up. First of all, I want to make the important point. Advisors do not expect that firms, either their current firm or firms that they are diligencing prospectively, have this figured out or solved. Everybody understands this is a fairly new area that firms are still very much kind of developing their strategies in. What advisors want to see is a few things. They want to see though leadership, they want to see investment, and they want to see a strategy, right? Effectively, they want to see a step in the right direction, really. So I’ll give you a couple examples. There are a number of tech savvy RIAs, very tech-enabled, AI-focused RIAs, because I think this is easier to be nimble. I think where you’ll see this quicker probably is in the independent space. That what they’re doing is things like this. An advisor logs on to their workstation in the morning and their system queues them proactively, Mr. and Mrs. Smith may be good candidates for a Roth IRA conversion. And then if the advisor decides to contact the client in some way about it, the system will of course help them draft the communication, but then it’ll take it a step further and actually help them to process and transact that conversion. So soup to nuts, ultimately driving efficiency. That’s the name of the game. That’s why firms, I think, are excited about AI, at least the good firms. Because what I think they realize it will do is, the stuff that’s a waste of time that could be automated that advisors, and probably even more so their associates, client associates are spending time on, that should be a massive time saver for advisors. And I think if you play that story out, what does that mean? It should mean bigger books of business and therefore more productive advisors because they have more time to prospect and focus on their clients. Thoughts? Mindy Diamond: Yeah. So I think you said it perfectly, but it raises the question then. You say that the RIAs can be more nimble. You’re right. I mean, the big story around the biggest firms was like moving a battleship, it takes a long time to turn it. It’s not as nimble. So what and how are the bigger firms competing against the RIAs with respect to AI? And second question, we still always get questions, and rightly so, about Morgan Stanley has more money to invest… Jason Diamond: That was going to be part of my answer. Mindy Diamond: … than fill in the blank RIA. So how does that all work? Jason Diamond: That is absolutely going to be part of my answer, is that I have heard this question posed almost presumptively both ways. “Oh, it’s got to be that the RIAs are going to be the clear winners in this.” And I’ve also heard, “Oh, it’s got to be that the wirehouses are going to be the clear winners in this.” I don’t think it’s going to be channel specific like that. I think it is going to be firm specific. I think there’s going to be firms that are going to do this well and firms that are going to not do this well. But there’s going to be winners in the wirehouse space. There’s going to be winners in the regional firm space, with firms like Raymond James who are clearly trying to be on the cutting edge of this. There’s certainly going to be winners in the broker-dealer space. LPL is investing heavily in this, as are many of their broker-dealer competitors. And then of course the RIA space, where sometimes they may not have the budgets, but they have a couple things. They have private equity backing, sometimes. They have the custodians that they’re built on, right, or the tech vendors that they’re built on. So Schwab and Fidelity or Orion and Addepar. They have other ways to access these innovations. One of the things that comes up with this that your question I think gets at is, a similar question that was raised around technology stacks, which is strength of offering versus integration. And that’s where I think a firm like Morgan Stanley really will shine, is they should … Because they don’t put anything out that’s not well integrated. The big firms have generally done a pretty good job of that. Versus the RIAs. Sometimes we’ve heard feedback where, yes, you have access to you name it, right? You dream it up, you can go and buy it. But the left hand may not speak to the right hand quite as well. Mindy Diamond: Yeah, that’s actually a really good point. And integration is probably one of the biggest … If you ask an advisor when they talk about technology as either being one of their pushes or pulls, probably what they’re referring to more than anything is not only having the capability, but having the integrated capability. So that’s a great point. And I think your point is right, that the final chapter on this has not been written. Nobody thinks that it has. And so whatever answers you and I can talk about today about who’s winning this race, or this tech race or this AI race, will be totally different tomorrow. We all know that. But I think for purposes of this conversation, to say that an advisor having an expectation that their technology be outstanding and that AI be on the table, that a firm is embracing it and heading in the right direction, if you will, has the right thought leadership and the right willingness to invest in it is what advisors are really looking for right now. Jason Diamond: Absolutely. And this is a question too from the firm’s perspective, if you are a firm of any size, you must be able to answer that. This has become question 1A. And again, I don’t mean to suggest that I think AI is the number one most important factor driving advisor movement today. It very well might be at some point down the road. I don’t think we’re there yet. But I do think it’s the topic du jour or the hot topic, where every advisor is asking about this. So that means if you’re a firm, you need to be prepared to tell the story or at least have the vision. And I think what we’re hearing from both advisors and from firms is this, AI is going to … What is right now a gap between the good and the bad, the quality and the non, is going to become an absolute chasm, right? An absolutely mountainous gap between the best firms and the firms who are able to adapt this technology or this AI. And the same thing at the advisor level, between the AI-enabled superpowered advisor versus those who are in the dinosaur ages, for lack of a better term. Mindy Diamond: Yeah. And we’ll move on, but it is worth saying that the day of the standalone independent, the one man or one woman band who hangs out a shingle, and to use your term, running a lifestyle practice, nothing wrong with that, but it would be near impossible to imagine a world where a standalone independent can compete with a private-equity-backed RIA or an RIA that has a big pool of capital behind them or to compete with the major firms. And our point is the ability to compete is probably more important with respect to this topic than just about any other. Jason Diamond: Totally agree. Thank you for tying a bow on that because I think that’s a good place to leave the AI topic, at least for now. I’m certain we’ll have more to say on this one. By the time we release this episode, we’ll probably have more to say on it. So we’ll have to do a follow-up again. But I want to talk now about enterprise value. And this is one where if you’re an RIA or if you’re an advisor at an independent firm, this might sound like a duh, but hear me out on this one. The idea is as follows, if I’m a wirehouse advisor or any sort of captive advisor, I don’t technically own anything. Agree? Mindy Diamond: Agreed. Jason Diamond: Okay. So if that’s true, that I don’t technically own anything, I technically don’t have any sort of enterprise value or ability to monetize. But my premise here and why I would argue that enterprise value has become a driver of movement is even wirehouse advisors know … They see teams like OpenArc, a massive RIA that launched last year. They see their corner office peers breaking away, starting independent firms. They see them selling to asset managers, private-equity-backed RIAs, private equity firms in their own right for these massive multiples. And what I guess I’m getting at, and I’m curious if you agree is, if a wirehouse advisor, let’s say, sees their colleagues sell to a private equity firm for 20X, doesn’t that have to become a little bit of a catalyst for movement in its own right? Mindy Diamond: Without a doubt. Historically … Actually, let me date myself. When I started this business now 32 years ago, there was zero way for an advisor who was a captive employee of a firm, of any firm, to monetize their business. It’s why there was so much movement, because the only way they could monetize was to get paid a big fat transition deal to move from one firm to the other. Jason Diamond: Yep. Mindy Diamond: Obviously, we all know that first it started with the big firms, and then just about every brokerage firm on the street began to offer a retire-in-place program. And that is the big firms or a traditional brokerage firm’s way of allowing advisor to monetize in place from their perspective to stave off attrition. And for an advisor that believes that the status quo serves them well, that finishing their career, that leaving their legacy, that leaving their team at their firm is the best thing to do, then those retire-in-place programs, like Merrill’s CTP or Morgan’s FAP or UBS’s Alpha or a name at every firm has them, is the best gift to advisors there is. But the problem is that the next generation at those firms are buying an asset they don’t own. And so when we talk about enterprise value or the desire to build enterprise value as a real driver of movement, what we’re talking about is not only that advisors want ownership of an asset, because ownership translates into more control and autonomy and agency over building it the way you want to, but it also translates into maximizing the value of the business that you’ve built. So that’s a long-winded way of saying that the OpenArc deal you are referencing, for anybody not familiar, is a Merrill Lynch team, a legacy Merrill Lynch team in Atlanta that was managing more than 120 billion in assets, part retail, ultra high net worth client assets, and part institutional consulting assets. And believe me, I don’t want to make it sound like it was a snap that one day they’re happy and the next day they’re going independent. Over a 10-year period became more and more aware, driven by the pushes and more aware of the pulse. But ultimately, while there was a long list of things they wanted to be able to do that they couldn’t to best serve clients and grow the business, the real driver at the end of the day, or I shouldn’t say the real driver, but a major driver was the notion of building and owning enterprise value. Yes, they could have all gotten very attractive deals and retired with your Merrill CTP, but they wanted to own the business, they wanted cap gains treatment. And so they went through the sweat equity big time of building what they’re calling OpenArc for the ability for probably five, 10, 20 years, because there’s partners with all different ages, so at all different times, to be able to really maximize the value of the business they’ve built. Jason Diamond: Can I push back on that for … It’s a super helpful example, but my one thought is, okay, yeah, of course, 130 billion in assets, they should be concerned with enterprise value at that size. And the delta between caring about enterprise value and not is too great because those guys have, by all accounts, a phenomenal business that is rivaled by very few in the industry. Most of our audience does not fit into that stratosphere. So what about advisors in, let’s call it the million to $10 million space? Should they still care about this concept? Mindy Diamond: Again, it’s an inside job. It’s a personal thing. Some don’t. But the answer is yes. And if I were them, I would. Why? Because whether I am generating a million a year in revenue or $10 million a year in revenue, at the end of the day, I’ve got an asset. I’ve built a valuable asset. And I have the choice at the end of the day or the middle of the day to decide a million things about that asset. How do I want to live my business life? How do I want to serve my clients? Where do I want to work? But one of the biggest factors to determining where and how they want to work is, ultimately, do I want to be able to maximize the value of the business that I’ve built? And while there are few things that are really definitive in this industry, the one thing that is absolutely indisputably definitive is that if you build an independent practice like the ex-Merrill Lynch churned RIA OpenArc team did, you will ultimately build enterprise value exponential multiples greater than any way you could monetize the business as a traditional employee. Jason Diamond: And that math absolutely still holds up even at numbers smaller than we’ve mentioned. I totally agree with that. I’ll give you one other reason why I think you should care. And I’d love your thoughts on this one. I’ll ask it two ways maybe. I’ll tell you my take and then I’ll ask you yours. Morgan Stanley, let’s use as an example. Who are Morgan Stanley’s competitors? In my opinion, the legacy answer to that is, well, of course the wirehouses are Morgan Stanley’s competitors. Merrill, UBS, Wells Fargo, what maybe used to be a longer list, but today those four. I don’t think that’s the answer anymore. I think those are the direct competitors. But because of this enterprise value conversation, I think Morgan Stanley’s competitors are anyone and everyone who recruits financial advisors with books of business. Because if you think about it, an advisor who has a $3 million business at a wirehouse, even if they’re not actually going to do this, they don’t have any entrepreneurial spirit, no desire to go independent, they still know that they could. This is an option and a viable option. And firms are even figuring out ways to cut out the middle step, right? Because this was historically a two-step process. You’re a wirehouse advisor or a W2 advisor. You break away, launch an independent business to establish your enterprise value, begin building it, and then you monetize it. If you could cut out the middle step, or even if you couldn’t, I still think it’s pretty clear that if you’re an advisor, this is important because the firms know … Like when Morgan Stanley’s writing a recruiting deal, they’re kept honest by RIAs and acquirers just the same as their direct peer set. Do you agree with that or do you think I’m reading too far into this? Mindy Diamond: Oh no, I agree a thousand percent. I think that it is naive for anyone recruiting for or on behalf of a traditional firm to think that the only competition is another traditional firm. The days of pomposity for a senior leader at a traditional firm to say, “We’ve got the best technology, the best everything fill in the blank. We have no competitors.” That’s just naive. Because even if it’s true, you’ve got the best platform infrastructure fill in the blank, there is a multitude of advisors that value things different than what you can provide. Beauty is in the eye of beholder is probably a good way to say that. But at the end of the day, what we’re really talking about is when I started the business, because there was no way, no really good way for an advisor to really monetize their life’s work, the only thing they could or were focused on from a personal financial gain perspective was the short-term deal. What are they paying? What’s the transition deal? Now, of course they’re concerned about that. But almost to a person, they’re equally concerned about what I can build and what will this allow me to build in terms of the value of the business I’m building in the long term. So let me ask you, if we’re talking about an advisor that has the ability to monetize in the short term for what could be 4X and in some cases more than that these days, and we’re talking about the ability to maximize enterprise value, and we talk about the concept of moving once and monetizing twice, what kind of numbers are we talking about? Fill in the blanks there. Jason Diamond: It’s such a hard question to answer because I do genuinely believe recruiting deals, when you talk about 300 to 400% revenue deals in the recruiting space, they vary a little bit, but I feel pretty comfortable quoting those types of numbers that most firms are somewhere in the 300 to 400% of T12 realm. There are some outliers, we mentioned UBS. But the multiple or EBITDA based or enterprise value M&A market where we’re doing these legitimate buyout transactions, the valuations do vary quite a bit. But here’s how I think about it. First of all, most firms are not purchased or sold at top line revenue. Most are sold at some sort of adjusted EBITDA number, which factors in local expenses, platform expenses, but also advisor compensation. And then that adjusted number is typically multipled. The multiples are anywhere from 8X for small kind of, let’s say, million dollar revenue businesses up to, we’ve seen deals struck at north of 20X for some of these mega cap RIAs. Typically, just back of the envelope, if I had to quote, I typically estimate around 5X top line at capital gains is a good kind of ballpark valuation. But there is quite a bit of nuance to it, more so than the traditional recruiting space. And I do think, shameless plug, part of the value in working with somebody who’s an expert on the entirety of the industry landscape is just that. It’s the idea that you need to run the horse race across multiple verticals. The good advisors who work with us typically are looking at a wire like a Morgan Stanley or a Merrill. They’re looking at a boutique firm like a Rockefeller, or they’re looking at a regional like an RBC or a Ray J. They’re looking at an independent firm like an LPL or a Sanctuary. They’re looking all across the spectrum. Mindy Diamond: I think that’s exactly right. But the topic of enterprise value, you can see how powerful it is and how wise it is. For an advisor today, when considering their personal economics to consider not just the short term, but to weigh in or add in or factor in, what could I be building and what ultimately will that business be worth at the end of the day? Jason Diamond: Yeah, 100%. Short of going out and selling your business, what can advisors do then? So I’m an advisor, okay, I’m curious about this. Or is it just as simple as, “Yeah, you should know what your business is worth if you’re an advisor”? Mindy Diamond: Definitively yes, because I mean, we always believe that knowledge is power. And just like it’s important for you to understand what your options are within your own firm, how can I ultimately retire out and monetize my business where I am, I think it’s really hard to make a decision in a vacuum without having other perspective. And getting other perspective doesn’t have to be that you have to go out and take 20 meetings. It’s not that hard for you to figure out what your business is worth to make it a data point for whether or not you’re ultimately best to retire in place or go elsewhere. Jason Diamond: Yeah, that I think is the main takeaway. And the education point is so important. I think because these are relatively new concepts for a lot of advisors that haven’t formally shopped a business before, there’s a lot of resources available. And we’ll certainly link some as well on the page for the episode. Let’s shift gears now, our kind of final trigger 2.0, which is stability and ownership structure of the firm. And this has been a little bit of a hot topic. It’s honestly been a hot topic every year because it seems like things pop up every year. And a lot of times advisors don’t reconcile the question of who owns the firm or how stable is the firm until something happens. The firm gets bought, the firm goes bankrupt, like the First Republic scenario. What should a good advisor do proactively about the idea that if you’re a W2 employee or even an employee who’s affiliated with a broker dealer, you saw this with Commonwealth, you just don’t really have control over what the firm decides to do. Give me your thoughts on this. I know it’s a big topic. Mindy Diamond: Yeah. First of all, using Commonwealth an example, it’s a good one. Because for those unfamiliar, Commonwealth is a boutique broker dealer that was privately owned and whose tagline was, “We love our privately owned status and we are never going to sell,” until one day they did. And not only did they sell, but they sold to the biggest independent broker dealer in the country, ala LPL. That’s not good nor bad, it’s just a fact. So if Commonwealth, who had definitively said we’re never up for sale, suddenly sells, any time you’re an employee of a firm, you never know what tomorrow brings in. You’re not in control over whether it’s sold. So that’s one example. But as you’re talking about this, I’m thinking about, I’m probably going back 20 years, so I’m 10 years into my career and I talked to someone who had been a very successful Merrill advisor. So I’m going to say he was probably generating around $5 million in revenue at the time. Going back 20 years, that’s a pretty significant book of business. He was courted for years by what he thought was a top RIA. And in those days, remember 20 years ago, the RIA space wasn’t nearly as mainstream as it is now. But the story the RIA told him was that ultimately, one, he was going to be a partner in the firm, that was very appealing to him. So he was going to have equity in the firm and much more freedom and control. And locally, by the way, the RIA was a really high quality brand. He worked on a lot of the economics, the short term and the long term with them. They did a ton of due diligence on his book of business. But he failed to ask … And I didn’t represent him. I just know this story. He failed to ask or do enough due diligence about the stability of the firm. What we think is really important, we talk about this expanded landscape. If you’re looking at Morgan Stanley, I don’t think you necessarily need to see Morgan Stanley’s balance sheet. If you are talking to a firm that is anything but a bulge bracket or anything but a large firm, it’s really important to do what we call reverse due diligence and to really understand if a firm expects you to open your kimono and show everything about your business to prove your worth, it is equally important that you do the same for them. In this new world order where private equity has come in and there are so many different ways for a firm to be owned and to be capitalized, it’s very important that an advisor understand what’s going on behind the scenes. And one of the questions around stability, if a firm is private equity backed, is it permanent capital? Is it patient capital? Is the private equity firm going to look to sell and monetize in five years? And then who would the likely buyer be and what does that mean for you? So the question is a big question and it’s really important. Jason Diamond: I love everything you just said, except I do think even the wirehouses, wirehouse advisors, honestly, as much as anybody should be asking these questions. And I’ll give you an example right now, UBS. And UBS, it’s not a story of balance sheet stability. I don’t think anybody has concerns that UBS is going to fail. But UBS management has been very publicly, “Oh, we’re cutting costs.” There’s been some rumors, I think for years, probably dating back 30 years to when you started the business about UBS’s commitment to the US wealth management business. I think those questions about stability and ownership structure are still valid. And to me, the implication of it is twofold. One, what you said, reverse due diligence, ask the questions, plan B. But also the concept of the exits or the off-ramps or how many bites of the apple do you get. So if you’re an advisor and you sell your business to somebody and you sign garden leave and non-competes and non-solicits, the question of ownership structure of that firm becomes less relevant because you have no off-ramps and no ability to exit that business anyway. A lot of times that’s how advisors get comfortable with this concept. And that’s what firms will tell them too, frankly, and we’re living through the middle of this, by the way, with Commonwealth and LPL, is vote with your feet, right? To the extent advisors can, the offer … And this is like, you used the example of private-equity-backed firms. This is how Rockefeller addresses the question of their private equity ownership. If we sell to UBS, all of our advisors will leave. They have that built-in put option. So knowing where the off-ramps are or how many bites of the apple an advisor gets, I think is a big concept that ties into that. But we’re absolutely seeing this pop up, probably largely because of those two examples, Commonwealth and UBS this year, more so Commonwealth, to your point. Janney’s another example last year or two years ago now where KKR comes in and buys Janney. So when these examples happen, it seems like it triggers advisors to say, “Is this something that could happen to me and should I be thinking about this?” Mindy Diamond: Yeah. So let me ask you a question. You’re talking, you’ve mentioned UBS offering this outsized deal. So how does the notion of stability and ownership factor in? If an advisor is considering an unprecedented deal from UBS, what are the caveats or concerns with respect to stability and ownership? Jason Diamond: It’s the same list of considerations you should and would ask of any other firm you’re diligencing, except I think amplified even more in the case … If I was counseling an advisor who was looking at UBS, that would be what I would say, is exactly that. You’re seeing all of these departures and defections, and I would want to have conversations with those advisors and understand exactly why and have guarantees or assurances that I’m not going to suffer from those same pain points that force them to leave. Or, and I say this a little bit flippantly, but it’s a little bit true, I understand the devil that I’m getting into bed with, but for 550%, or whatever the deal might be, I can suck it up. And that’s something that some advisors might well say as well. Mindy Diamond: Yeah. Jason Diamond: I don’t want to end on the negative note of overly large transition, not there’s anything wrong with large transition deals, but as you look out, is there anything that’s coming up in your conversation with advisors that you view as the next wave of this? I’ll give you one that maybe you could touch on, and if you have another one, feel free to offer it in conclusion, but do you think age or advisors starting to succeed out of the business will become more of a driver of movement, even though to your point, advisors can access sunset deals? Mindy Diamond: I do actually, because I think the more the average advisor age increases, the more likely that those advisors are going to want to move on to do something else to monetize the business. And so much of the wave of movement we see is driven not so much by the senior advisor, because many seed advisors are happy enough with the ability to monetize their business in place. Even though it may not maximize the value of the business, it’s a close enough approximation and it means I don’t have to disrupt the apple cart. So we support that 100%. But where we get the calls is from the next generation that says, “Yeah, but hold on a minute. It’s a good way for me to take on a book of assets that I not otherwise have access to. And it’s great for my senior partner, my father, my mother, my whatever to monetize the business. But I’m buying an asset again that I don’t own and I ultimately don’t have control over all these things we’re talking about, the AI investment, the ability to create enterprise value, the stability, the cost cutting, all of it.” So I think it’s all of the above. You say, “What else is there?” I think that’s it. It’s all of the above. It’s anything and everything that drives movement. One, it’s personal, it’s highly unique, it’s different for every advisor. There are certainly themes, and we’re talking about them, but there’s a million different things. It’s personal. And while there are an awful lot of pushes, things that can frustrate an advisor, it is the most exciting time in our view to be an advisor, particularly a high quality one, because the options abound, the ecosystem is big, because the ability to monetize both in the short term and the long term is big, mammoth, exponentially bigger than it ever was before. And the true ability to really build an enterprise has never been greater. And I think all of those things, the desire for an advisor to be the best that they can be and live their best business life is probably the biggest driver of all. Jason Diamond: It’s really true these days, if you can dream it, you can probably build it. And we’ve said in the past, if you build it, they will buy it. It’s a great place to end. This was a really fun topic. I think that’s a spot on kind of fourth trigger, by the way, too. This sort of next gen is almost like the force multiplier or the amplifier of like they see all this other stuff and they’re asking these questions even more so. Because if I’m 60 years old, none of this matters all that much. It matters, but I’m out of the business in five to 10 years. Versus the next gen advisors are the ones who often bear the brunt of this. So I think a lot of really smart stuff. Thank you for sharing your wisdom and expertise. In the episode page, we’ll be sure we have our Industry Transition Report. And we’ve also created a tool, the top 10 tips for a strategic due diligence process, which is a great kind of practical hand-in-hand companion for this topic for advisors looking for more pointed tips on the due diligence process. So Mindy, thank you again. This has been a blast. Mindy Diamond: My pleasure. Thank you. Jason Diamond: Thank you for joining us. We'll be back with a new episode next week, so be sure to listen in. 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. The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 A Special Industry Update with Jason Diamond and Mindy Diamond. Jason Diamond: Welcome to a replay of one of the most popular episodes from our podcast series for financial advisors, The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between. It's Part 2 of a 2-Part Industry Update with Mindy Diamond. I’m Jason 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. Jason Diamond: There’s been a noticeable shift in how advisors are approaching decisions about their business, not necessarily in whether they’re exploring change, but in what they’re focused on when they do. Mindy is back with me for a continuation of our earlier conversation on the Advisor Transition Playbook. Last time, we spent time on the mechanics, how due diligence works, what a move actually entails, and how to think through the process. What’s become more apparent since then is that the inputs into that process are evolving. The traditional drivers are still there, but layered on top are a set of considerations that didn’t carry the same weight before. AI is one of them, and not just as a tool, but as a differentiator that advisors are starting to diligence more seriously. Enterprise value is another. Showing up in conversations, even for advisors who don’t technically own their business, but are thinking more critically about what they’re building over time. And then there are questions around stability, ownership, and flexibility. What happens to the firm itself and whether advisors retain the ability to adapt again if circumstances change. None of this is theoretical. It’s showing up in real time conversations. What we want to do here is unpack those new triggers of advisor movement and what they suggest about how decisions are being made today. So let’s get to it. Mindy, the legend, thank you for joining me. So glad to have you on. Mindy Diamond: Thank you. I’m so happy to be here. Jason Diamond: Great. Let’s dive right in. I’ll set the stage really quickly one more time. When we spoke about this topic last, we talked about the drivers of movement, what we’ll call in this conversation as the old or the legacy drivers of movement, and we spoke about the mechanics of the move. Before we get into the new drivers of movement, which I want to be the meat of the conversation, remind us, when we talk about the legacy drivers of movement …. And by the way, by saying legacy, I by no means want to suggest that they’re not valid today, because they’re equally valid, if not more so today than they were then. But when you think of the classic drivers of movement in our industry, what are they? Mindy Diamond: Yeah. So I would say, first of all, let’s start by saying that for every advisor, they’ve got a unique set of needs. So the first thing to say is that while you and I can talk about the categories of frustrations or things that might bother an advisor, they show up differently in each advisor’s life. So it’s important to note that everyone is unique. But generally speaking, if I had to package them, I’d say it’s number one that shows up most of the time is too much bureaucracy. A feeling that a firm or a model is just too hypervigilant in terms of compliance and it’s too bureaucratic and too hard to get things done.

Life sciences are at a critical inflection point, where scientific innovation, regulatory demands, and patient expectations converge with advances in data and artificial intelligence, positioning IT as a central driver of faster and more effective drug discovery and clinical development.This week, Dave and Rob continue with part 3 off the Life Sciences mini-series with Predrag Angelovski, VP, CTO at Healthcare Informatics at Philips to exploring how MedTech products are more and more becoming connected platforms, combining hardware, software and services.TLDR00:21 – Introduction with co-host Thorsten Rall01:00 – Hang out: Esmee joins and Rob is lost at a train station03:00 – Dig in: Life Sciences mini-series, Part 304:57 – Conversation with Predrag Angelovski50:56 – Travelling to Europe, agents vs. agentic, and the age of intelligence GuestPredrag Angelovski: https://www.linkedin.com/in/predrag-angelovski/ HostsDave Chapman:  https://www.linkedin.com/in/chapmandr/Esmee van de Giessen:  https://www.linkedin.com/in/esmeevandegiessen/Rob Kernahan:  https://www.linkedin.com/in/rob-kernahan/ ProductionMarcel van der Burg:  https://www.linkedin.com/in/marcel-vd-burg/Dave Chapman:  https://www.linkedin.com/in/chapmandr/ SoundBen Corbett:  https://www.linkedin.com/in/ben-corbett-3b6a11135/Louis Corbett:   https://www.linkedin.com/in/louis-corbett-087250264/ 'Realities Remixed' is an original podcast from Capgemini

Send us Fan MailA lot of families make the same travel baseball mistake every July: they chase the loudest logo, the flashiest graphics, and the team that “wins the weekend,” then wonder why their player stops improving. I'm Coach Ken Carpenter, and I'm pulling the curtain back on the trophy team versus development team debate so you can make a smarter choice for 2027.We talk about the red flags that show up fast in youth baseball and travel ball, starting with roster size. If a program carries 16 to 18 players on a summer roster, the playing time math does not work, and reps are everything for high school performance and college recruiting. I also get blunt about what happens when winning Sunday becomes the priority, especially for pitchers. Arm care, workload decisions, and a clear throwing plan matter more than any plastic trophy.Then we build a real checklist for finding a development team: a fall and winter plan that supports strength training, coaches who welcome failure as part of growth, and a schedule built around scout attended exposure tournaments instead of expensive trips with no recruiters in sight. Most important, we cover the human factor: the coach running the program. A coach with a real recruiting network and the ability to personally call D2, D3, and JUCO staffs can open doors that a generic online profile never will, especially in the transfer portal era.If you're heading into 2027 tryouts, stop chasing hype and start choosing development. Subscribe, leave a review, and share this with a parent or player who needs a clearer path.Support the showFollow:  X | @BCUPod / IG @baseballcoachesunplugged Website - https://www.athlete1.netSponsor: The Netting Professionalshttps://www.nettingpros.com

The Zero Hour starts us off this week with An Arm's Length, its story from May 13, 1974. (22:05) Then we'll hear Diamonds At War, from The Cavalcade Of America. That story originally aired July 26, 1943. https://traffic.libsyn.com/forcedn/e55e1c7a-e213-4a20-8701-21862bdf1f8a/RelicRadio1004.mp3 Download RelicRadio1004 | Subscribe | Spotify | Support The Relic Radio Show

Today in the business of podcasting:Reminder: Sounds Profitable's latest research, The Podcast Atlas, will debut tomorrow, July 1, at 2:00 p.m. Eastern in a live webinar hosted by Tom Webster. Registration is free and open now, grab your virtual seat!Miroma Group has acquired performance audio advertising agency Ad Results Media, with CEO Jordan Fox framing the deal as a major U.S. expansion that brings ARM's podcast-native performance advertising into Miroma's broader portfolio.Ben Robins' latest UK Advertising Landscape installment finds 44% of UK podcast listeners aged 18 to 34 made a purchase after hearing a podcast ad, and flags the 55-plus demographic as a meaningful untapped opportunity for podcast advertisers.YouTube has retired BrandConnect in favor of Creator Partnerships built into Google Ads, monetizing brand amplification of creator content while controlling discovery, distribution, and measurement rather than taking a commission on creator deals.Podnews editor James Cridland tests whether HLS streaming improves podcast consumption measurement, concluding the data is clearer than traditional downloads but that browser buffering and inconsistent play definitions across apps still limit meaningful measurement gains.To find links to these, and every article covered in today's episode, click here. You can also subscribe to The Download's newsletter to receive the full issue straight to your email inbox every day.

Tech giants and chipmakers are facing off as AI-fueled memory shortages trigger sweeping price hikes on everything from Macs to game consoles. Hear why global supply chain standoffs, long-term contracts, and old-school market forces are quietly reshaping your daily technology. • Apple and Microsoft hike prices on devices amid global memory shortages • Surge in AI data centers drives RAM and storage crisis • Intel's comeback: Core Ultra chips compete with AMD in handheld gaming • Microsoft's pivot to ARM, Qualcomm-NVIDIA alliance, and x86 rivalry • AI fear and backlash; organic concern amplified by international actors • White House abruptly pulls Anthropic's Fable model, sparking industry uproar • US government U-turns on AI regulation, restricts top models to select partners • Tension over AI innovation vs. regulatory "rug pull" and global competition • Smart home chaos: Matter 1.6 standard, Samsung and Level Lock shake-up • Debate over local vs. cloud smart home control and API access fees • Ring and Flock cameras ignite privacy and surveillance state concerns • Social media bans for under-16s fail in Australia, UK, and Norway plan similar rules • BBC Radio 4 long wave broadcast ends after a century • Meta gets caught tracking employees for AI; PlayStation deletes owned movies • US regulators propose removing brake pedals from Robotaxis • Ford's automated systems flop, company rehiring engineers • Farewell to tech journalist and GigaOm founder Om Malik Host: Leo Laporte Guests: Jennifer Pattison Tuohy, Dan Patterson, and Daniel Rubino Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: Simply CX box.com/AI meter.com/twit ZipRecruiter.com/twit superhuman.com

Tech giants and chipmakers are facing off as AI-fueled memory shortages trigger sweeping price hikes on everything from Macs to game consoles. Hear why global supply chain standoffs, long-term contracts, and old-school market forces are quietly reshaping your daily technology. • Apple and Microsoft hike prices on devices amid global memory shortages • Surge in AI data centers drives RAM and storage crisis • Intel's comeback: Core Ultra chips compete with AMD in handheld gaming • Microsoft's pivot to ARM, Qualcomm-NVIDIA alliance, and x86 rivalry • AI fear and backlash; organic concern amplified by international actors • White House abruptly pulls Anthropic's Fable model, sparking industry uproar • US government U-turns on AI regulation, restricts top models to select partners • Tension over AI innovation vs. regulatory "rug pull" and global competition • Smart home chaos: Matter 1.6 standard, Samsung and Level Lock shake-up • Debate over local vs. cloud smart home control and API access fees • Ring and Flock cameras ignite privacy and surveillance state concerns • Social media bans for under-16s fail in Australia, UK, and Norway plan similar rules • BBC Radio 4 long wave broadcast ends after a century • Meta gets caught tracking employees for AI; PlayStation deletes owned movies • US regulators propose removing brake pedals from Robotaxis • Ford's automated systems flop, company rehiring engineers • Farewell to tech journalist and GigaOm founder Om Malik Host: Leo Laporte Guests: Jennifer Pattison Tuohy, Dan Patterson, and Daniel Rubino Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: Simply CX box.com/AI meter.com/twit ZipRecruiter.com/twit superhuman.com

Tech giants and chipmakers are facing off as AI-fueled memory shortages trigger sweeping price hikes on everything from Macs to game consoles. Hear why global supply chain standoffs, long-term contracts, and old-school market forces are quietly reshaping your daily technology. • Apple and Microsoft hike prices on devices amid global memory shortages • Surge in AI data centers drives RAM and storage crisis • Intel's comeback: Core Ultra chips compete with AMD in handheld gaming • Microsoft's pivot to ARM, Qualcomm-NVIDIA alliance, and x86 rivalry • AI fear and backlash; organic concern amplified by international actors • White House abruptly pulls Anthropic's Fable model, sparking industry uproar • US government U-turns on AI regulation, restricts top models to select partners • Tension over AI innovation vs. regulatory "rug pull" and global competition • Smart home chaos: Matter 1.6 standard, Samsung and Level Lock shake-up • Debate over local vs. cloud smart home control and API access fees • Ring and Flock cameras ignite privacy and surveillance state concerns • Social media bans for under-16s fail in Australia, UK, and Norway plan similar rules • BBC Radio 4 long wave broadcast ends after a century • Meta gets caught tracking employees for AI; PlayStation deletes owned movies • US regulators propose removing brake pedals from Robotaxis • Ford's automated systems flop, company rehiring engineers • Farewell to tech journalist and GigaOm founder Om Malik Host: Leo Laporte Guests: Jennifer Pattison Tuohy, Dan Patterson, and Daniel Rubino Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: Simply CX box.com/AI meter.com/twit ZipRecruiter.com/twit superhuman.com

Tech giants and chipmakers are facing off as AI-fueled memory shortages trigger sweeping price hikes on everything from Macs to game consoles. Hear why global supply chain standoffs, long-term contracts, and old-school market forces are quietly reshaping your daily technology. • Apple and Microsoft hike prices on devices amid global memory shortages • Surge in AI data centers drives RAM and storage crisis • Intel's comeback: Core Ultra chips compete with AMD in handheld gaming • Microsoft's pivot to ARM, Qualcomm-NVIDIA alliance, and x86 rivalry • AI fear and backlash; organic concern amplified by international actors • White House abruptly pulls Anthropic's Fable model, sparking industry uproar • US government U-turns on AI regulation, restricts top models to select partners • Tension over AI innovation vs. regulatory "rug pull" and global competition • Smart home chaos: Matter 1.6 standard, Samsung and Level Lock shake-up • Debate over local vs. cloud smart home control and API access fees • Ring and Flock cameras ignite privacy and surveillance state concerns • Social media bans for under-16s fail in Australia, UK, and Norway plan similar rules • BBC Radio 4 long wave broadcast ends after a century • Meta gets caught tracking employees for AI; PlayStation deletes owned movies • US regulators propose removing brake pedals from Robotaxis • Ford's automated systems flop, company rehiring engineers • Farewell to tech journalist and GigaOm founder Om Malik Host: Leo Laporte Guests: Jennifer Pattison Tuohy, Dan Patterson, and Daniel Rubino Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: Simply CX box.com/AI meter.com/twit ZipRecruiter.com/twit superhuman.com

He was a man after God's own heart, a conqueror of giants, and the builder of an empire. Yet, a single evening on a rooftop changed everything. If Israel's most brilliant and wise kings could fall so completely to the flesh and the world, what does it take for us to stand steady today? Summary: In this heavy but necessary episode, we dive into the tragic and cautionary text of 2 Samuel 11 through 1 Kings 11. We analyze the United Kingdom of Israel at its absolute peak of wealth, wisdom, and power, and dissect the exact vulnerabilities that fractured a golden age. The Rooftop Blueprint: We map the micro-steps of David's tragedy—from staying home when he should have been at war, to seeing, looking, inquiring, and taking. We learn why the Savior raised the bar to the level of the heart to stop this momentum before it kills us spiritually. The Cost of the Cover-Up: We uncover the horrific length David went to in order to hide his sin, culminating in the calculated sacrifice of the fiercely loyal Uriah. Thou Art the Man: We break down Nathan's masterful parable of the ewe lamb and analyze why David was so blind to his own hypocrisy until the prophet held up the mirror. The Sins of the Children: We witness the agonizing reality of the law of the harvest as David reaps the whirlwind within his own family tree—exploring the tragedy of Amnon and Tamar, and the heartbreaking rebellion of Absalom. The Wisdom and Wealth of Solomon: We transition to 1 Kings to study Solomon's blank check from God. We celebrate his request for an "understanding heart" to judge with empathy rather than cold calculation, but trace how wealth, materialism, and political alliances slowly sapped his spiritual strength. The Temple vs. The Palace: We contrast the seven years spent building the House of the Lord with the thirteen years Solomon spent building his own massive palace, asking ourselves: "Whose kingdom are we truly trying to build?" Call-to-Action: Saul fell to pride, David fell to the flesh, and Solomon fell to worldliness. Which of these three areas is the adversary currently using to target your foundation? Let's have an honest, supportive discussion in the comments below. To safeguard your discipleship and stay "Unshaken," please like, subscribe, and share this video with someone who needs a reminder of Christ's relentless redemption! Chapter Timestamps: 0:00 David & Bathsheba 42:05 David's Sin Is Revealed 1:00:24 Amnon & Tamar 1:21:30 Absalom Flees & Returns: Reconciliation 2:38:24 Absalom's Rebellion 2:57:50 The Death of Absalom 2:06:41 Recovering from Rebellion 2:29:56 A Psalm of David 2:37:23 The Arm of Flesh 2:55:35 Conclusion 2:56:32 David's Last Days 2:59:45 Solomon as Successor 3:21:24 The Wisdom of Solomon 3:35:33 Discerning a Mother & Dividing a Child 3:47:39 Largeness of Heart 3:54:27 Building the Temple 4:15:34 Cedar & Gold 4:23:57 The Dedication of the Temple 4:49:32 Wisdom or Wealth? 4:54:02 Worldliness & Materialism 5:11:06 Conclusion