Podcasts about Commonwealth

The British Army in the Second World War is often judged through the lens of manpower shortages and a sense of being overstretched. Critics point to a force spread across too many theatres and suggest that this inevitably limited its effectiveness. But is that a fair assessment of an army that expanded from a few hundred thousand men into a global fighting force of over eight million, operating across Europe, North Africa, the Mediterranean, and the Far East? In this episode, I am joined by Brian Walter to explore his argument that the British and Commonwealth armies emerged from the legacy of the First World War as a reduced force, entered the Second World War underprepared, but went on to adapt, expand, and ultimately play a decisive role in defeating Germany, Italy, and Japan across multiple theatres of war. Brian is the author of The Thin Khaki Line: An Operational History of the British and Commonwealth Armies during World War II.

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Avi Ivan Counting Countries has been to every 166 countries Hey now, I am your host, Ric Gazarian. In this episode, I had the pleasure of speaking with Avi Ivan, who I just met at the TCC meeting in Hanoi. And when he decided to attend ETF I thought it would be a great opportunity to bring him on as a guest and get to learn his story. I was in Boston while Avi was in Miami for this recording. Please listen in and enjoy.

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The Lindsay Clancy trial testimony started with a father describing his three children to a jury, and ended with a prosecutor reading him pharmacy counts off nine bottles. Patrick Clancy was the Commonwealth's very first witness in Plymouth Superior Court, and the afternoon did not go the way an opening witness usually goes. Prosecutors asked him to describe Cora, Dawson, and Callan. He needed a moment before he could. Then the questions turned to prescriptions, and the state entered a bag of pill bottles into the record. Seven gone from one. Six out of thirty from another. One bottle that had never been opened. The prosecutor asked him point blank whether he understood that a lot had been prescribed and very little had been taken. He agreed, and then said the context was important. Here is why that exchange is the whole trial in miniature. The state wants those counts to prove she cannot blame medication she was not swallowing. The defense wants those same counts to prove that prescriptions were flying out of multiple offices with nobody checking what was actually happening to the woman receiving them. Same exhibit, two completely different cases. This episode walks the counts, the September conversation about a prescription that turned out to have been filled a day earlier, the family videos the state used to argue she was fine, and the reason a jury may hear that footage differently than prosecutors intend. We also cover what Patrick Clancy said about telehealth appointments, what he never got told about his wife's hospital stay, and the number he gave investigators that sent him looking for a lawyer.END_LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS  #LindsayClancy #PatrickClancy #TrueCrimeToday #ClancyTrial #PlymouthSuperiorCourt #PostpartumPsychosis #DuxburyMassachusetts #InsanityDefense #TrueCrime #TrueCrimePodcast

Neither of these cases will ever answer the question that matters most to the families in them.Tony Brueski and Robin Dreeke, a retired FBI Special Agent with twenty-one years reading behavior under pressure, cover the Lindsay Clancy trial openings and Bryan Kohberger's petition to withdraw his guilty plea.On Clancy, this works through Patrick Clancy's testimony about the last ordinary day, including the photos traded that morning and his line that she was having one of her best days. It also covers the hospital stay, and the discharge he testified he never knew she had asked for. Cora, Dawson and Callan died in January 2023. Criminal responsibility is the only live question, and the Commonwealth owns that burden.On Kohberger, this covers the handwritten petition filed in Ada County District Court, his claim of actual innocence, and his assertion that he was convinced to falsely confess. It also covers the letter Latah County prosecutors sent the families of Kaylee Goncalves, Madison Mogen, Xana Kernodle and Ethan Chapin, promising the plea would spare them decades of post-conviction appeals. There was never a trial and there has never been a motive on the record.In Plymouth, a chain of licensed professionals made every call and faces nothing. In Boise, an office traded away a trial and guaranteed an ending it could not deliver. One family will never hear why. The other is watching a man they were told was finished file paperwork to start it all again.The Clancy trial has weeks to run and the Kohberger petition is still pending, so neither of these ends here. Subscribe to True Crime Today for the next development in each case.END LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS (10)#LindsayClancy #BryanKohberger #TrueCrimeToday #ClancyTrial #IdahoStudentMurders #PostpartumPsychosis #ActualInnocence #TrueCrime #RobinDreeke #PostConvictionRelief

There is a bag sitting in evidence at the Lindsay Clancy trial that both lawyers are going to reach for, and it holds nine prescription bottles that are almost completely full. That bag went into the record on the first day of testimony, entered by the prosecution, in front of the father of the three children who died. Patrick Clancy took the stand as the Commonwealth's opening witness. Prosecutors walked him through the marriage, the three deliveries, the maternity leaves, and the anxiety that arrived every single time his wife had to go back to work as a nurse. Then they handed him the pill bottles. The counts came out one at a time. Seven gone from a Zoloft prescription filled in September of 2022. Six out of thirty gone from an Ativan prescription filled in October. A bottle with two gone, a bottle with three, a bottle that had never been opened at all. Asked whether he knew any of those numbers, he said no, and added that context mattered. Nobody was counting. That is the whole case in one sentence, and both sides know it. This episode takes the exhibit apart and shows you why the state's strongest piece of paperwork might be the defense's too, why the family videos the prosecution played work against the argument they were played to support, and what Patrick Clancy told investigators that eventually sent him to a lawyer's office. It also covers the sentence the state pulled out of him about how his wife seemed the day everything happened, and why a jury of twelve women and six men is going to hear expert testimony fight over those few words for weeks.END_LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS  #LindsayClancy #PatrickClancy #HiddenKillers #ClancyTrial #PlymouthSuperiorCourt #PostpartumPsychosis #DuxburyMassachusetts #InsanityDefense #TrueCrime #TrueCrimePodcast

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

Deportes 30/07/26: El australiano Kyle Chalmers se ha convertido en el nadador masculino más exitoso de su país en la competición, al ganar su décima medalla de oro, un récord en Glasgow.Escucha SBS Spanish / Australia en español:Por radio o Internet 7 días a la semana de 1:00 a 2:pm (AEST)Escucha también por Apple Podcasts, Spotify y YouTubeExplora nuestra extensa colección de podcasts haciendo clic aquíEn redes: síguenos en Facebook e Instagram.

Programa 30/07/26: Analizamos qué significa el cambio de liderazgo en Victoria ahora que asume el nuevo premier, Ben Carroll; un meteorólogo nos explica las razones de la ola de calor y los incendios forestales en Europa y qué podría pasar en el verano australiano; en los deportes, Australia sigue liderando en los Juegos de la Commonwealth.Escucha SBS Spanish / Australia en español:Por radio o Internet 7 días a la semana de 1:00 a 2:pm (AEST)Escucha también por Apple Podcasts, Spotify y YouTubeExplora nuestra extensa colección de podcasts haciendo clic aquíEn redes: síguenos en Facebook e Instagram.

Kate O'Connor's father and coach, Micheal shares his emotion after his daughter's triumph at the Commonwealth Games.

Ian O'Riordan joins Eoin Sheahan to break down Irish heptathlete Kate O'Connor's sixth consecutive championship medal, as she won gold in the Commonwealth Games on Wednesday evening.

In Pacific Waves today: One person confirmed dead at Solomon Islands gold mine; Fiji conjoined twins prepare for separation surgery; Indonesian govt silencing Papuan activists - report; Pasifika athletes shine at the Commonwealth games. Go to this episode on rnz.co.nz for more details

All the best bits from Nathan, Nat & Shaun - Thursday 30th July See omnystudio.com/listener for privacy information.

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Someone approved Lindsay Clancy's discharge. That decision has not been on trial, and it may never be.She entered Massachusetts General on New Year's Eve 2022 after telling her husband she was having intrusive thoughts about hurting their children, and was transferred to McLean early on January 1. On January 5, after asking to go home, she was released with an appointment scheduled for the following day.Tony Brueski and Robin Dreeke, retired FBI Special Agent and former chief of the Bureau's Counterintelligence Behavioral Analysis Program, work through what that release was built on.Patrick Clancy testified he did not know his wife had asked to leave. He said he was unaware she had been offered daily one-on-one therapy and unaware she had turned down additional group sessions. He said that from what he saw and heard, it did not seem like she was being treated, with a weekend and an observed holiday delaying her first doctor visit.She reported to providers that the thoughts had passed. Her daughter's fifth birthday party was two days after she got home. Cora died seventeen days after the party.Dreeke spent a career deciding whether people were being honest about their own state of mind. He explains what a clinician can actually confirm, and what every hospital is left guessing at.Cora had just turned five. Dawson was three. Callan was eight months old. Nobody disputes how they died. The only question for this jury is what their mother understood at the time, and the Commonwealth has to prove it.Subscribe to True Crime Today for coverage of the expert testimony ahead in this trial.END LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS (10)#LindsayClancy #McLeanHospital #TrueCrimeToday #ClancyTrial #PostpartumPsychosis #MaternalMentalHealth #RobinDreeke #TrueCrime #PlymouthSuperiorCourt #PsychiatricCare

Before any of it, there was a snowman.Patrick Clancy testified that on the afternoon of January 24, 2023, his wife built one in the yard with their three children and then did art projects with them inside. That morning she had taken five-year-old Cora to a doctor's appointment while he stayed home with the boys, and the two of them had traded photos by text. Three-year-old Dawson had dressed himself for the first time.He told the jury she was having one of her best days.Tony Brueski and Robin Dreeke, retired FBI Special Agent and former chief of the Bureau's Counterintelligence Behavioral Analysis Program, work through what that afternoon is worth to each side.The Commonwealth wants it as proof of a clear mind. Assistant District Attorney Shanan Buckingham told jurors this was not a woman in the throes of psychosis. The defense needs those same hours to point somewhere else.The episode also covers what prosecutors say happened after the art projects. A drive plotted from the house to a restaurant nobody in the family had tried, then on to a pharmacy. A shopping list with dinner on it and children's medicine under it. An errand that emptied the house.Dreeke takes on the behavioral question directly. What does a genuinely good day tell you about the mind having it, and what does it fail to tell you?Cora was five. Dawson was three. Callan was eight months old. Their mother has pleaded not guilty and does not dispute causing their deaths, which leaves a jury of twelve women and six men to decide what she understood while it happened.The trial is expected to run six to eight weeks.Subscribe to True Crime Today for coverage of the expert testimony ahead.END LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS (10)#LindsayClancy #PatrickClancy #TrueCrimeToday #ClancyTrial #PostpartumPsychosis #PlymouthSuperiorCourt #RobinDreeke #TrueCrime #DuxburyMassachusetts #CriminalResponsibility

"She was having one of her best days." That is how Patrick Clancy described January 24, 2023 to the jury deciding whether his ex-wife is criminally responsible for the deaths of their three children.He described a morning where Dawson dressed himself for the first time and the parents texted photos back and forth, Lindsay from a pediatric appointment with Cora. He described the snowman in the yard that afternoon and the art projects after it. He said she had been back at the gym and sleeping better.Tony Brueski and Robin Dreeke, who ran the FBI's Counterintelligence Behavioral Analysis Program, work through what a day like that is worth as evidence.The Commonwealth is building on it. Assistant District Attorney Shanan Buckingham told jurors this was not a woman in the throes of psychosis, and pointed to competence and normalcy that day as proof of a mind that understood itself. The defense has to make the same hours mean something else.The episode also covers what prosecutors say followed. A route mapped between home, a restaurant the family had never ordered from, and a CVS. Searches for takeout and children's medicine. An errand that took Patrick out of the house.Dreeke spent a career reading people in their worst moments, and his answer on what a good day indicates is not the comfortable one for either side.Cora, Dawson and Callan died that evening. The trial is about what was happening in their mother's mind, and the state has to prove it.The trial is expected to run six to eight weeks, with a witness list of nearly two hundred names and competing psychiatric experts still ahead.Hidden Killers stays with this case through the testimony phase. Subscribe for the analysis on each major witness.END LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS (10)#LindsayClancy #PatrickClancy #HiddenKillers #ClancyTrial #PostpartumPsychosis #PlymouthSuperiorCourt #RobinDreeke #TrueCrime #DuxburyMassachusetts #CriminalResponsibility

Clint, Meg and Dan kick off Thursday talking about not wishing life away and being present with kids, then hunt for New Zealand’s best wake-up sound with the Jurassic Park theme as a frontrunner. They share an Overthinkers clip about a woman finding her dad and discovering his explicit SoundCloud, before discussing allegations against Jared Leto. The first call comes from Amy in Queenstown, a new drug-testing worker. Meg panics over a mysterious computer mouse package that turns out to be her mum’s lost Airbnb item. The team covers banana disease, a Fiji shark attack survivor’s advice, and sprinter Zoe Hobbs’ Commonwealth gold, then play Easy Money with callers. Dan triggers a workplace security alert while booking a spray tan, leading into “glow up to blow up” beauty disasters, and they debate a controversial post-date voicemail demanding sex, plus stories about crying to get out of trouble. 00:31 Being Present in Life 01:49 New Alarm Sound Hunt 03:13 B-List Celebrity Debate 04:32 Lost Dad SoundCloud Rap 07:44 Jared Leto Scandal Talk 09:54 First Call Amy in Queenstown 13:40 Mystery Mouse Package 17:22 Radar Bananas Sharks Sprinting 21:43 Easy Money Letter V 25:48 Theyre a 10 But Game 31:23 Funny walks debate 32:31 Helpful husband annoyance 34:21 Spray tan security scare 37:43 Glow up to blow up calls 42:32 First date voicemail drama 51:36 Easy Money game chaos 54:54 Crying to escape trouble

The Only Woman at Bomana Among more than 3,800 Commonwealth war graves at Bomana War Cemetery lies a single woman—RAAF nurse Sister Marie Eileen Craig. In this episode, we honour her remarkable life and reflect on a powerful truth: not every casualty of war dies in battle. Some give their lives serving humanity, caring for the wounded and bringing hope to others. Join Glenn as he shares the story of the only woman buried at Bomana, explores the vital role of military nurses during World War II, and reminds us that courage isn't always found on the front line—sometimes it's found in compassion. A moving tribute to a remarkable Australian whose service and sacrifice deserve to be remembered. This podcast is brought to you by Adventure Professionals. KOKODA FITNESS PROGRAM OTHER ADVENTURES See omnystudio.com/listener for privacy information.

ON SALE NOW: GymCastic LIVE at U.S. Championships in Phoenix WHEN: Sunday, Aug 9th after the women's final podium ceremony at 6pm-ish WHERE: Streaming online or Phoenix, AZ WHAT: It's the post-meet after party (with a bar and snacks). We will discuss the meet immediately after it happens—and you never know who will appear at a GymCastic live show. HOW: Tickets on sale now. Club Gym Nerd members get your discount (check your email). Ellie Black (CAN) makes Commonwealth Games history as the first gymnast ever to win two Commonwealth all-around titles. We discuss the competition highlights, Gabriel Langton's frightening high bar fall, the shakeup at World Gymnastics (FIG), gymternet news and which NCAA teams would best suit today's international elite stars. COMMONWEALTH GAMES Ellie Black (CAN) wins her second Commonwealth all-around title Breanna Scott (AUS) takes silver and Lia-Monica Fontaine (CAN) wins bronze Australia wins the women's team title ahead of Canada and England Kate McDonald (AUS) wins bars gold Canada wins the men's team title Reuben Ward (SCO) delivers a home all-around victory for Scotland Watch in the United States on beIN Sports. See the full gymnastics results. MINI COMMISSION: INTERNATIONAL ELITES GO TO COLLEGE We match Rebeca Andrade (BRA), Kaylia Nemour (ALG), Mélanie de Jesus dos Santos (FRA), Kishi Rina (JPN), Manila Esposito (ITA), Flávia Saraiva (BRA), Eythora Thorsdottir (NED), Ellie Black (CAN) and other international stars with their ideal NCAA programs. Want your own mini commission? Join Club Gym Nerd at the World Champion level. CHAPTERS 00:00 – Ellie Black Makes History and Phoenix Schedule 01:37 – Gabriel Langton's High Bar Fall 04:00 – Nicolas Buompane out in World Gymnastics Shakeup 07:18 – Ellie Black's Historic Commonwealth Double 10:05 – Commonwealth Women's Team Final 15:21 – Club Gym Nerd and GymCastic Tools 18:54 – Women's All-Around Final 30:29 – Apparatus Finals and Opportunities for Comedy 40:34 – Canada and Scotland's Historic Men's Victories 45:38 – Rage-O-Meter: Commentary About Chinese Gymnasts 46:54 – Gymternet News and Romanian Safeguarding 54:02 – Nicola Bartolini Retires 55:54 – World Gymnastics Keeps Its Russian Policy 57:15 – Magnificent Seven and Phoenix Live Show 1:00:07 – Mini Commission: International Elites Go to College 1:28:16 – Club Gym Nerd and Behind The Scenes SUPPORT OUR WORK Club Gym Nerd: Ad-free podcasts, weekly live Q&A episodes, bonus content, the complete members-only archive, games, forum access and live-show discounts Shop GymCastic TOOLS, GAMES AND RESOURCES LA 2028 Roster Lab Elite Score Explorer International Gymnastics Calendar GymCastic Games GymCastic Newsletters The Balance Beam Situation Gymnastics History Resistance Resources Cover art and photograph © GymCastic / Steve Cooper. All rights reserved.

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At her arraignment in 2023, the Commonwealth suggested Lindsay Clancy lowered herself out of a window and dropped down. At trial, the prosecution softened it — but left one word behind. Superficial. Kevin Reddington's defense opening answered that word with photographs and a medical record.The prosecution needs the jury to believe she fabricated three things: her illness, her suicide attempt, and her hallucinations. This episode wraps four clips from Reddington's opening at Plymouth Superior Court and follows the defense's rebuttal through each charge.Patrick Clancy took the stand as the prosecution's first witness and testified that his wife disclosed intrusive thoughts about the children and thoughts of suicide months before they died. He testified he pushed for in-person appointments because the telehealth visits were brief and thin. That contradicts the Commonwealth's opening-statement claim that she withheld.Reddington read the prescription chart to the jury — thirteen medications, multiple providers, no diagnosis until after the children died. He described a Jefferson fracture of the C1 vertebra, a shattered thoracic spine, and every rib broken. He named a hospital staffer who heard about command voices before any lawyer arrived. And he told the jury she signed a DNR and refused resuscitation — the fact that makes fabricating any of the rest structurally impossible.Support: Postpartum Support International, www.postpartum.net or 800-944-4773. In crisis, call or text 988.END_LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS#LindsayClancy #KevinReddington #TrueCrimeToday #PostpartumPsychosis #PlymouthSuperiorCourt #ShananBuckingham #JeffersonFracture #PatrickClancy #CriminalResponsibility #TrueCrime

The prosecution's opening statement at Plymouth Superior Court used one adjective for part of what Lindsay Clancy did to herself: superficial. Kevin Reddington answered it with photographs, a fracture list, and a medical record that describes a burst fracture at the top of her spine caused by headfirst impact onto frozen ground.That is one of three fabrication charges the prosecution's theory requires the jury to accept. She lied about being sick. She faked the attempt. She made up the voices. This breakdown wraps four clips from Reddington's defense opening and follows the argument through each one.Patrick Clancy, called as the prosecution's first witness, testified his wife disclosed intrusive thoughts and suicidal ideation months before the children died. He testified he pushed for in-person care and grew alarmed at the prescription count. That testimony contradicts the Commonwealth's opening claim that she withheld from her husband and her doctors.Reddington read the full prescription chart to the jury — thirteen medications across multiple providers in four months, with a bipolar diagnosis that came only after the children died. He named a witness who heard about command voices at Brigham and Women's before any defense lawyer arrived. And one detail closes the loop on all three charges: she signed a DNR and refused to be resuscitated.Support: Postpartum Support International, www.postpartum.net or 800-944-4773. In crisis, call or text 988.END_LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS#LindsayClancy #KevinReddington #HiddenKillers #PostpartumPsychosis #PlymouthSuperiorCourt #ShananBuckingham #JeffersonFracture #RebeccaJollotta #MaternalMentalHealth #TrueCrime

A woman in a psychiatric crisis drove herself to a locked ward on New Year's Eve and checked herself in voluntarily. The malpractice complaint filed against her providers says she was not seen by a doctor for three days. She was discharged after five with no indication she was a danger to anyone. Three weeks later her three children were dead.Built around four clips from the prosecution's opening statement at Plymouth Superior Court, this breakdown follows ADA Shanan Buckingham's argument and tests it against the record.The state's premeditation theory rests on a clock and a fourteen-second phone call. Underneath it is a premise the prosecution never states directly: that organization proves a sound mind. The clinical literature on postpartum psychosis runs the other direction, and this episode goes through what it actually documents. Then the Massachusetts standard that gives the defense two doors and requires the Commonwealth to close both beyond a reasonable doubt.The provider record laid out in the civil complaints is where the case lives. Thirteen medications. Five prescribers, none holding the full picture. A referral that went unanswered. An appointment the day before that the state's opening skips entirely. And the prosecutor's own observation about Clancy's access to care, offered as proof of guilt, that may be the most damaging sentence about the system anyone said that morning.END_LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS#LindsayClancy #ShananBuckingham #HiddenKillers #PostpartumPsychosis #McHoulStandard #PlymouthCounty #PatrickClancy #InsanityDefense #MedicalMalpractice #TrueCrime

Deportes 28/07/26: Australia ha ganado su primera medalla de oro en atletismo en los Juegos de la Commonwealth, gracias a la victoria de Rose Davies en la prueba femenina de 10 kilómetros esta mañana.Escucha SBS Spanish / Australia en español:Por radio o Internet 7 días a la semana de 1:00 a 2:pm (AEST)Escucha también por Apple Podcasts, Spotify y YouTubeExplora nuestra extensa colección de podcasts haciendo clic aquíEn redes: síguenos en Facebook e Instagram.

Were you aware that the Commonwealth games were still happening? Well, thanks to Gabriel Langton, I don't think we'll ever forget again.

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Lindsay Clancy spent her career as a labor and delivery nurse helping mothers through the most vulnerable moments of their lives. Prosecutors say that same job is proof she knew exactly how to work the people who were supposed to save her. She's charged with three counts of first-degree murder in the deaths of Cora, five, Dawson, three, and eight-month-old Callan, at their Duxbury, Massachusetts home on January 24, 2023. She's pleading not guilty by reason of insanity. Roughly three months before the killings, prosecutors say she typed something about her older children into her phone, a note a prosecutor later read aloud in court. The Commonwealth's case leans on the mundane: a text at 4:53 saying she didn't feel like cooking, a takeout order at 5:10, her husband out the door at 5:15 for dinner and a pharmacy run, back a little after six. Prosecutors say she measured that window using the exact clinical composure her job trained into her. The defense says she'd been begging that same medical system for help for weeks and was handed prescriptions instead. She's permanently paralyzed after going out a second-story window the night her children died. If convicted of first-degree murder, Massachusetts law gives the judge no discretion: mandatory life without parole. If she's found not criminally responsible, she's committed to a locked state psychiatric hospital instead, not set free. She's already been in state custody since 2023. Jury selection began July 20 in Plymouth Superior Court. The job that once meant she saved lives is now the state's argument for why she took some. Join Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePod This publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice. Hashtags #LindsayClancy #PatrickClancy #TrueCrimeToday #TrueCrime #PostpartumPsychosis #InsanityDefense #DuxburyMurders #ClancyTrial #MassachusettsCrime #MurderTrial

Intubated. Unable to speak. Her three children dead. Lindsay Clancy was handed an erasable whiteboard in a hospital bed. The first thing she communicated was a question that the prosecution and defense interpret in completely opposite ways.The jury is seated in Plymouth Superior Court. Both sides agree she killed her three children. The dispute is whether she knew what she was doing. The prosecution says the Apple Maps search on her phone, the timing of her husband's errand, and her actions during that window prove calculated premeditation. The defense says thirteen psychiatric medications in four months destroyed her capacity to understand reality.Zoloft. Prozac. Klonopin. Seroquel. Valium. Ambien. Her husband Patrick Clancy told her doctors she had turned into a zombie and nobody changed course. One prescriber did not know what another was giving her. She begged for help repeatedly.Patrick Clancy appears on both witness lists. The prosecution plans to call him first. He filed a medical malpractice lawsuit against her providers. He publicly said he was not married to a monster. He forgave her.Massachusetts is one of the states where the prosecution bears the burden on insanity. They must prove she was sane beyond a reasonable doubt. Andrea Yates was convicted, then acquitted at retrial, under a Texas standard that put the burden on the defense.Andrea Yates drowned five children during a postpartum psychotic episode in Texas. A jury convicted her. A second jury acquitted her on retrial. Massachusetts places the burden on the prosecution, not the defense. The Commonwealth must prove Lindsay Clancy was sane beyond a reasonable doubt. With thirteen medications and a medical record full of ignored warnings, that burden may be the prosecution's biggest obstacle.Retired FBI Special Agent Jennifer Coffindaffer examines the whiteboard moment, the prosecution's risk in calling Patrick Clancy first, the Yates parallel, and whether this jury can clear the bar Massachusetts has set.Join Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.#LindsayClancy #PostpartumPsychosis #HiddenKillers #TrueCrime #JenniferCoffindaffer #PatrickClancy #PlymouthCourt #InsanityDefense #AndreaYates #Duxbury

Lindsay Clancy was intubated in a hospital bed. Her three children were dead. She could not speak. She was handed an erasable whiteboard. And the first thing she communicated was a question that both sides of this case read completely differently.Her jury is now seated. Eighteen people in Plymouth Superior Court who have to answer one question: was she criminally responsible? Both sides agree she killed her children. The only dispute is her state of mind.The prosecution frames this as calculated premeditation. She checked Apple Maps to time her husband's errand. She allegedly strangled all three children in the window she created. She jumped from a second-story window and survived.The defense frames this as medical catastrophe. Thirteen psychiatric medications prescribed in four months. Her husband told doctors she had become a zombie. One prescriber did not know what another was doing. She asked for help over and over and the system ignored her.Patrick Clancy is on both sides' witness lists. The prosecution will call him first. He sued her doctors for malpractice. He told the press he was not married to a monster. He forgave her publicly. Massachusetts places the burden on the Commonwealth to prove sanity beyond a reasonable doubt.Andrea Yates drowned five children during a postpartum psychotic episode. A Texas jury convicted her. A second jury acquitted her on retrial. If the first Yates jury got it wrong when the crime was too horrific to sit with, this jury is staring down the same question with the same impossible set of facts.Retired FBI Special Agent Jennifer Coffindaffer joins Hidden Killers to examine the whiteboard question, what it tells the jury about consciousness of guilt versus medical shock, the Yates parallel, and whether this prosecution can clear its burden.Join Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.#LindsayClancy #PostpartumPsychosis #HiddenKillers #TrueCrime #JenniferCoffindaffer #PatrickClancy #PlymouthCourt #InsanityDefense #AndreaYates #Duxbury

Deportes 27/07/26: Australia lidera medallero de los Juegos de la Commonwealth 2026; Tadej Pogacar ganó el Tour de France de ciclismo y mexicano Isaac Del Toro finaliza en tercer lugar; mercado de fichajes del fútbol mundial; Lando Norris venció Gran Premio de Gran Bretaña de Fórmula Uno.Escucha SBS Spanish / Australia en español:Por radio o Internet 7 días a la semana de 1:00 a 2:pm (AEST)Escucha también por Apple Podcasts, Spotify y YouTubeExplora nuestra extensa colección de podcasts haciendo clic aquíEn redes: síguenos en Facebook e Instagram.

The Fast Lane with Ed Lane: Monday, July 27, 2026

The Fast Lane with Ed Lane: Monday, July 27, 2026

In Pacific Waves today: Pacific health leader appointed top role at World Obesity Federation; Last of Tonga prisoner escapees recaptured; PNG authorities managing separate cases of missing people at sea; PNG claims Pacific's first medal at Commonwealth games. Go to this episode on rnz.co.nz for more details

Nearly 1,000 police officers continue a citywide search for a 21-year-old man suspected of ramming a vehicle into a crowd before launching a violent stabbing spree in Berlin. Iran's Foreign Ministry says Ukraine attacked an Iranian commercial vessel Saturday, in the Caspian Sea. Health workers treating a growing number of Ebola patients in the Democratic Republic of Congo are refusing to work. Typhoon Noul is battering the south eastern coast of China and parts of Hong Kong. The wildfires burning across British Columbia have prompted more evacuations. Prime Minister Mark Carney has announced three by-elections. that will be held on August 31st. Canadian politicians are divided on whether energy should be used as a bargaining chip, particularly in Quebec. Canada has won five medals at the 2026 Commonwealth games in Scotland.

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War panics the bond marketTrump ransoms disaster aid for election rulesCalifornia kills 148,000 ballotsTariffs hide behind forced laborDoctors demand single payerCapitalism loses believersSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kathy Clugston chairs this week's Gardeners' Question Time from Clarkston Halls in East Renfrewshire, home to one of Scotland's oldest horticultural societies.Joining Kathy are Balmoral's Head of Gardens Kirsty Wilson, ethnobotanist James Wong, and Birmingham Botanical Gardens' Head Gardener Bethan Collerton.The panel tackles questions on reluctant camellias, fragrant planting for a windswept balcony, and how to transform a shady, moss-filled shared garden.Along the way, Bethan visits Glasgow Botanic Gardens' magnificent Kibble Palace, where she joins Robert Jamieson to explore botanical links across the Commonwealth, from the Australian tea tree and towering tree ferns to remarkable araucarias from the South Pacific.Back in Clarkston, the team shares advice on improving the quality of greenhouse-grown grapes, caring for carnivorous pitcher plants, and choosing easy, quick-growing seeds for young gardeners.Producer: Alison Vernon-Smith Assistant Producer: William NortonA Somethin' Else production for BBC Radio 4* If listening on BBC Sounds and you wish to view the plant list, please go to the Gardeners' Question Time website and open this week's episode page.

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Lindsay Clancy murder trial — prosecutors want a jury to look at her résumé and conclude she understood exactly what she was doing.She was a labor and delivery nurse. That is the fact the Commonwealth wants to sit in front of the jury while it argues deliberate premeditation. A woman who worked in maternal health knew the language, knew the screening tools, and knew how to present. Kevin Reddington's response is that she used all of that knowledge to ask for help, repeatedly and specifically, and the system handed her prescriptions and a discharge paper instead.This is the full three-part conversation between Tony Brueski and criminal defense trial attorney Bob Motta covering the entire case.The first segment goes through the prosecution's evidence — the timing of a takeout order, an errand, and a note on her phone that a prosecutor read out loud in open court. The second examines what is left of the defense after the pretrial rulings, including the decision to keep women who have survived postpartum psychosis off the stand, and the roughly thirteen psychiatric medications her attorney says she was prescribed over about four months. The third takes on the justice question directly: what a verdict is supposed to accomplish when both outcomes end in confinement, and why the people who wrote those prescriptions will only ever face a civil claim.Patrick Clancy buried three children, asked the world to forgive his wife, sued her doctors, and will take the witness stand.Cora was five. Dawson was three. Callan was eight months old. This trial is going to make a lot of people pick a side they did not expect to pick.END LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS — 10#LindsayClancy #DuxburyMurders #TrueCrimeToday #TrueCrime #PostpartumPsychosis #InsanityDefense #MaternalMentalHealth #MurderTrial #BobMotta #TrueCrimePodcast

In the Lindsay Clancy murder trial, the prosecution wants the jury to know what she did for a living — and to draw a very specific conclusion from it.She was a labor and delivery nurse. The Commonwealth's argument is that a woman with that training knew how the mental health system evaluates a patient, knew what to report, and knew how to shape what people saw. Kevin Reddington's answer is that she was the one patient in the entire chain who could name what was happening to her, and every institution she named it to still sent her home.This is the complete three-part conversation between Tony Brueski and criminal defense trial attorney Bob Motta.The opening segment works through the prosecution file — the text about not feeling like cooking, the dinner order, the errand that put her husband on the road for roughly fifty minutes, and a note prosecutors say she typed about her older children months before. The middle segment takes on the defense, including a ruling that keeps women who have survived postpartum psychosis out of the witness box, the medication history her lawyer describes as roughly thirteen prescriptions in about four months, and the nineteen days between a psychiatric discharge and three deaths. The final segment asks what any verdict here is supposed to accomplish, given that one path leads to a state hospital and the other to mandatory life without parole.There is also Patrick Clancy, who buried three children, asked the public to forgive his wife, is suing her doctors, and is going to testify.Cora, Dawson, and Callan were five, three, and eight months old. Everything in that courtroom is being argued through their mother.END LINKSJoin Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/channel/UC8-vxmbhTxxG10sO1izODJg?sub_confirmation=1 Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/TrueCrimePodDISCLAIMERThis publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.HASHTAGS — 10#LindsayClancy #KevinReddington #HiddenKillers #TrueCrime #PostpartumPsychosis #DuxburyMurders #PlymouthCounty #InsanityDefense #MentalHealthSystem #TrueCrimePodcast

Tom asks: Should cyclists have the same rights as vehicles on the road? Then, Lamar Cook has returned to the Commonwealth and the Herald's Tim Dunn asks him some of the pressing questions, we've had for Mr. Cook. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trump may abandon his war for votesThe AI bubble endangers your savingsAmericans fear politicsGOP smuggles voter suppressionRFK downplays an explosive outbreakSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hegseth wants five thousand dollars a person for the PentagonTrump eyes strikes on MaliMillions quit workingAOC fights merging our military with IsraelICE claims collapseSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.