Podcasts about Ls

Mike Finnegan sent us something that none of us had ever seen—or even heard of—before: a forgotten 1983 television adaptation of Six Pack. Intended as a pilot for a weekly series based on the Kenny Rogers movie, it starred a pre-Miami Vice Don Johnson as race car driver Brewster Baker. Markie Post, Jennifer Runyon, Billy Warlock, and a very young Joaquin Phoenix rounded out a surprisingly recognizable cast. The real reason it landed on our radar was an orange 1969 Dodge Charger with a roll cage. Was it an actual General Lee left over from The Dukes of Hazzard, a stock car constructed by the same Georgia crew, or simply a very obvious tribute? Corndog examines the Charger's dashboard, bodywork, roll cage, and suspicious Dukes connections before delivering his official diagnosis. We also discuss Markie Post's tunnel-rammed 1968 Camaro, the pilot's six-kid pit crew, its strange mixture of family television and stock-car racing, and the final event featuring one of the most unlikely collections of race cars ever assembled. The orange Charger eventually meets its end in a spectacularly terrible “decapitation” stunt that may be worth watching the entire production to see. Before the review, we prepare for Holley MoParty 2026, preview Nathan Warren's incredible LS-powered Crown Victoria General Lee drift car, and help one of Dallas Kibbe's friends determine whether a modified 2003 Mustang GT is a smart first performance-car purchase. Bernie also brings us the Celebrity Automotive Birthday Game and the award-winning news you need to know. The post K&F Show #378: Don Johnson's Lost “Six Pack” TV Pilot – Was That a General Lee? first appeared on The Muscle Car Place.

PlayStation has earned the ire of gamers everywhere this year. Between anti-consumer practices like the end of , an underwhelming release schedule, high profile studio closures, and a number of cancelled projects - it seems like the once beloved console manufacturer can't stop taking Ls.LINKSGet in touch with us at flipscreengames@gmail.com Join our Discord server: https://discord.gg/MHx2ysWST6Support us on Patreon: https://www.patreon.com/FlipScreenGames

GuestJacob DuncanYouTube -  @jacobduncannn  Instagram - https://www.instagram.com/jacobduncannn/Website - https://duncanmotorsports.bigcartel.com/Circle of Drift PartnersSimHQ - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://simhq.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ (5% off with code CIRCLEOFDRIFT)Kansei Wheels - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kanseiwheels.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Zeknova Tires (Use code CIRCLEOFDRIFT) - ⁠⁠⁠⁠⁠⁠⁠https://zeknovaus.com⁠⁠⁠⁠⁠⁠⁠Synergy Race Development (Use code CIRCLEOFDRIFT) - ⁠⁠⁠⁠⁠⁠⁠https://synergyracedevelopment.com/⁠⁠⁠⁠⁠⁠⁠Battle Aero Drift Karts (Code - CIRCLEOFDRIFT) - ⁠⁠⁠⁠https://www.battleaero.com/CIRCLEOFDRIFT⁠⁠⁠⁠Chase Bays (5% off code - CircleofDrift) - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.chasebays.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you want to be on the Podcast, email me at thecircleofdrift@gmail.com! Use "Drift Resume" as the Subject line.0:00 Intro2:37 Surviving FD Tech Inspection4:34 Licensed Via Scouting Report5:19 Scariest Battle of His Life7:25 Why He Skipped Pro-Am9:14 Advice From Adam Heishman10:25 Synergy Race Development12:18 LS vs JZ14:42 The JZX Is Slept On15:51 Bigger Turbo, Adding Nitrous18:20 Trans Snapped on the Bank19:57 Losing Power Steering21:21 Bought a Race Car at 1325:54 Zeknova Tires26:41 Working Since Age 1227:34 "Daddy's Money" Comments31:01 Landing the First Sponsors32:58 What Sponsor Deals Actually Are33:53 Time Sponsorship Eats Up36:23 Home Tracks in Virginia37:14 The Convertible Practice Car40:04 Rest of the Season43:00 Indy Race Weekend46:28 Practice Didn't Go As Planned48:59 Seeding Battle vs Rueger53:46 Battle vs Ryan Coffman58:44 Winning the Seeding Bracket1:01:39 Full Circle With Dad's Engine1:03:15 Top 32 vs Sean Booth1:06:01 Crash Ends the Weekend1:08:31 Breaking Down the Crash1:12:29 Outro

The Rizzuto Show starts innocently enough with football picks and somehow ends up asking whether artificial intelligence will wipe out humanity — with stops along the way for NASCAR drivers, a $34 million brothel empire, terrible celebrity guesses, folding phones, wedding-band disasters and the very real possibility that Rizz could someday be killed by a meatball.So, pretty standard week around here.The Seahawks kick off a strategic scoring controversy as the crew tries to figure out how Devon fits into their competition against The Fast Lane. Does her score count? Does the other team need another player? Should they take the best five scores? Why did nobody figure this out before the season started? These are questions normally reserved for leagues with commissioners and bylaws. Instead, we have Rizz.Then Take Five takes over, as listeners try to match answers with Lern, Moon, Devon and Rizz for concert tickets. Lern survives the dreaded “NFL team with an animal mascot” category by landing on Jaguars with her fifth and final guess. Moon, meanwhile, is asked to name a Beatles song and confidently begins with “Let It Go,” briefly creating the greatest Beatles/Frozen crossover nobody requested.Moon then proceeds to tour the entire Adam Sandler filmography without finding Big Daddy and gets painfully close to Deep Purple by wandering around “deep blue something.” Devon temporarily forgets that famous people named Mike exist, while Rizz correctly identifies Frosted Flakes on his first try before losing the entire game because his caller named fictional supervillain Lex Luthor as a “famous bald person.” Technically correct. Emotionally devastating.Today's show somehow raises the stakes by presenting the crew with the investment opportunity of a lifetime: the Bunny Ranch legacy portfolio in Nevada for roughly $34 million.Suddenly Rizz and the gang are analyzing brothel real estate, acreage, branding, financials and whether the oldest profession might be recession-proof. Lern reminisces about HBO's Cathouse, Moon wants to see the P&Ls, and everyone briefly becomes an investment expert in an industry where absolutely nobody should trust their advice.Then a Nebraska musician accused of taking deposits, double- and triple-booking events and sending multiple clients the same last-minute car-accident excuse gets Lern and Moon talking about the realities of working musicians and why ruining somebody's wedding is generally considered poor customer service.Technology gets its turn when the crew debates an expensive foldable iPhone, whether anyone should ever buy the first generation of a new gadget, planned obsolescence and the eternal Apple-versus-Android battle. Rizz's Meta glasses also spark the important distinction that not everyone wearing them is a creep…but apparently every creep might own a pair.There's also Nirvana, Billy Joel, Soundgarden, streaming-password confusion and NASCAR drivers Jordan Anderson, Blaine Perkins and Jeb Burton joining the day's lineup ahead of racing at World Wide Technology Raceway. Because why have one coherent theme when you can have seventeen?So far things have been far too normal.Lern nearly sleeps through three alarms, launching a full investigation into how everyone wakes up. Some people prefer peaceful gradual sounds. Rizz and Rafe apparently prefer alarms that simulate catastrophic submarine emergencies. Moon explains why using birds as an alarm eventually trained his brain to associate actual birds with going to work, which feels like an unnecessary punishment for both Moon and nature.From there, Rizz introduces the cheerful morning topic of whether AI could eventually pose an existential threat to humanity.The crew dives into warnings surrounding increasingly powerful artificial intelligence, self-improving systems, oversight, regulation, infrastructure and the difference between AI actively hating humans and simply not caring about us at all. Terminator gets mentioned, obviously, but the scarier discussion is whether something vastly more intelligent than humans could eventually treat us the way humans treat an anthill sitting where we want to build a highway.You know. Light morning entertainment.That leads naturally — somehow — into questions about death. Would you want to know the exact date you die? Would you want to know how? Who attends your funeral? What was your biggest missed opportunity?And most importantly: what happens if Rizz learns he dies by meatball?Suddenly every plate of spaghetti becomes a potential crime scene. A rogue meatball could come from anywhere. A restaurant. A waiter. Across the room. Knowing your fate doesn't necessarily help when your fate is apparently covered in marinara.The crew also gets nostalgic over TV dinners, Hungry Man meals, Salisbury steak, dangerously hot desserts and the random corn kernel that somehow migrated into every compartment. The upcoming Cheesecake Factory leads to a discussion about its famously over-the-top decor, which then inspires an even better — and substantially worse — restaurant concept: Stepfather's Pizza.Picture the divorced-dad dining experience perfected. Old televisions playing MAS*H, Cheers, Weather Channel and World War II documentaries. Dim lighting. Half-folded laundry. A smoke detector chirping somewhere in the distance. Finally, a restaurant where the atmosphere says, “Your mother will pick you up Sunday at six.”Across these three episodes, The Rizzuto Show delivers exactly what a comedy podcast should: sports arguments nobody prepared for, games nobody can successfully play, celebrity and music chaos, questionable investment opportunities, technology nobody needs, existential dread nobody requested and enough bizarre hypotheticals to make you reconsider answering questions around these people.Come for the Seahawks, NASCAR and celebrity news. Stay for Moon rewriting Beatles history, Rizz shopping for brothels, Lern fighting her alarm clock, Devon forgetting every Mike on Earth, AI potentially destroying civilization and one meatball patiently waiting to fulfill its destiny.Follow The Rizzuto Show → linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → 1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.‘Gambling with our lives': Another AI employee quits over safety concernsThe Greatest TV Dinners From Recent HistoryWest County Mall Cheesecake Factory set to open in NovemberApple joins foldable phone race with $1999 passport-shaped iPhone DuoSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

If you've got $34 million sitting around and have always dreamed of owning 50 acres of Nevada desert with a slightly more colorful business history than your average strip mall, congratulations: The Rizzuto Show may have found your next investment.Episode 158 starts with Rizz asking the perfectly normal morning-radio question: who wants to go in on a brothel?The estate of the late Dennis Hof has put the Bunny Ranch legacy portfolio up for sale, including the Moonlite Bunny Ranch, Sagebrush Ranch and Love Ranch. That means nearly 50 acres, buildings, residential units, equipment, vehicles, websites, branding and the kind of business names that make explaining your new career at Thanksgiving significantly more difficult.Naturally, Lern immediately wants to know if Air Force Amy is still involved, Moon wants to see the P&Ls, and Rafe wonders whether the oldest profession might also be recession-proof. Finally, a comedy show providing the serious investment analysis CNBC is too afraid to tackle.From there, the crew meets a Nebraska musician accused of double- and triple-booking events, collecting deposits and then allegedly sending multiple clients the same last-minute excuse: the band had been in a car accident. One wedding family had even spent extra money building a custom stage before the musician canceled minutes before he was supposed to perform.For actual working musicians Lern and Moon, that one hits a nerve. Moon talks about nearly three decades of playing gigs without remembering ever canceling a show, while Lern explains why her band generally stays away from weddings altogether. Apparently the secret to avoiding a wedding-band scandal is simply refusing to become a wedding band. Innovative.Then comes the latest technological advancement nobody in the studio actually needs: a $2,000 foldable iPhone.The crew debates the alleged iPhone Duo, foldable screens, whether buying the first generation of anything is a terrible idea, phone leasing, suspiciously glitchy older phones and the ancient blood feud between Apple users and the Droid Boys. Rizz considers buying one despite openly admitting he has virtually no reason to own it.That conversation leads to Rizz's Meta glasses, which Lern would like everyone to remember are capable of recording people. This produces perhaps the most efficient technology review of the morning: not everyone who owns Meta glasses is creepy…but according to Rizz, apparently every creep owns Meta glasses.Things finally move into Crap on Celebrities, where Nirvana is discussed in connection with MTV's Video Vanguard Award and the crew wonders whether Dave Grohl and Krist Novoselic could help convince anyone their age to find MTV again. Rizz also discovers the mysterious St. Charles login that caused him to change his streaming password wasn't an international cybercriminal.It was Moon.Moon was just trying to watch Tulsa King.Mystery solved. Password destroyed. Friendship somehow intact.There's also frustration over a Soundgarden halftime performance that didn't make the broadcast, Billy Joel discussing brain surgery and recovery, memories of Joel famously losing his mind over concert lighting, Pantera-related festival talk and plenty more music and entertainment chaos packed into Crap on Celebrities.And because this comedy show apparently needed one more gear, NASCAR drivers Jordan Anderson, Blaine Perkins and Jeb Burton are part of the day's lineup surrounding the big race weekend at World Wide Technology Raceway.Then Rafe prepares Take Five, where listeners try to predict the answers of isolated members of the show for a shot at concert tickets. Candlebox, Violent Femmes, Toadies with Local H, Babymetal with Halestorm and Rush tickets are on the table, proving that occasionally this circus does provide tangible benefits.Somewhere between the Nevada brothel real-estate portfolio, musicians behaving badly, folding phones, Meta-glasses paranoia, streaming-password confusion, rock-news detours and NASCAR invading the studio, Episode 158 becomes exactly what a comedy show should be: several conversations that absolutely should not belong together, somehow held together by Rizz and the gang.Follow The Rizzuto Show → linktr.ee/rizzshow for more from your favorite daily comedy show.Connect with The Rizzuto Show Comedy Podcast online → 1057thepoint.com/RizzShow.Hear The Rizz Show daily on the radio at 105.7 The Point | Hubbard Radio in St. Louis, MO.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

As companies invest billions in AI and automation to scale customer interactions, are they unintentionally building a wall between their brand and the very people they're trying to serve?Agility requires that as technology accelerates, our ability to listen to and understand the customer must accelerate even faster.Today, we're going to talk about how organizations can maintain and deepen their connection to consumers in an era increasingly defined by technological distance. We'll explore:- Why the more we lean on AI for efficiency, the more we need to invest in genuine human understanding.- How to translate abstract consumer insights into tangible actions that resonate across the entire organization, not just the marketing department.- The skills and cultural shifts necessary to prepare marketing teams for a future where empathy is as critical as data analysis.To help me discuss this topic, I'd like to welcome Melissa Blunte, Director, Consumer Experience at Georgia-Pacific. About Melissa BlunteKnown for: A “get it done” attitude. With an ownership mentality, strategic thinking, clear communication, persistence, and a willingness to do things differently, I will find a way to get things done.I am a strategic brand and commercial leader with 20 years of experience driving growth and innovation across Fortune 500 companies and billion-dollar brands such as Zyrtec®, Lipitor®, Similac® Infant Formula, Quilted Northern®, and Angel Soft®.Throughout my career, I've thrived at the intersection of brand building and business results. From launching products and crafting integrated marketing strategies, to leading high-performing teams and managing P&Ls, my focus has always been on delivering measurable impact.I bring a unique combination of big-company discipline, cross-functional leadership, and entrepreneurial agility — and I'm energized by the challenge of crafting strategy and turning them into actions that drive value.Melissa Blunte on LinkedIn: https://www.linkedin.com/in/melissa-mapp-blunte-b452359/---------- Resources ---------- : https://www.gp.com/The Agile Brand podcast is brought to you by TEKsystems. Learn more here: https://aglbrnd.co/r/2868abd8085a9703We're proud to be a media partner for #MAICON26 - Oct. 13-15! Learn how AI can power your marketing and business and help you grow smarter. Use code AGILE150 to save! https://aglbrnd.co/r/7fe458ced0f04658Reach your customers with Reddit. Spend $500 in ad spend, get $500 back in ad credit! Learn more: https://advertalize.com/r/491818c79fb1873fChaser is the only Slack-native project management platform that helps teams turn messages into tracked tasks, automate follow-ups, and maintain team-wide visibility, without adopting another tool. Now integrated with Claude and other GenAI tools. Learn more at trychaser.com and use code AGILEBRAND for a 3-month free trial (normal trial is 14 days).The most influential minds in software, AI, and engineering leadership will be at WeAreDevelopers World Congress North America, September 23-25 in San Jose. Learn more: https://aglbrnd.co/r/60a7299222a7bcf1Start building your own apps with Replit and get $20 off. Learn more: https://aglbrnd.co/r/93531742a7625a20Enjoyed the show? Tell us more at and give us a rating so others can find the show at: https://aglbrnd.co/r/faaed112fc9887f3Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstromDon't miss a thing: get the latest episodes, sign up for our newsletter and more: https://aglbrnd.co/r/35ded3ccfb6716baCheck out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.comThe Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company Hosted on Acast. See acast.com/privacy for more information.

I hope you're all enjoying the series so far. We continue on in Part 3 with the Warring State of Qín under their bellicose and long-reigning King Zhaoxiang 秦昭襄王 using all the powerful tools at his disposal to overcome the rival kingdoms. This will be followed by the old family favorite story of the dubious rise of Ying Zheng 嬴政 and the matter of his paternity. All your old favorites from the Records of the Grand Historian will play their bit parts in the historical drama: Lǚ Bùwéi 吕不韦, Zhào Jī 赵姬, and Lào Ǎi 嫪毐 and King Zhuangxiang 秦庄襄王. The rest of the episode covers the brief, but action-packed rise and fall of the Qin Dynasty and the founding of the Han Dynasty up through the death of Han Gaozu 汉高祖. This is of course preceded by the exciting Chu-Han Contention between Xiang You 项羽 and Liu Bang 刘邦. I saved the murderous Empress Lü for next time. Below is a list of Chinese historical figures mentioned in this episode.King Zhāoxiāng of Qín 秦昭襄王, Fàn Jū 范雎, Lǐ Bīng 李冰, Bái Qǐ 白起, Lián Pō 廉颇, Lǐ Mù 李牧, Wáng Jiǎn 王剪, Sīmǎ Cuò 司马错, Zhao King Xiàochéng 赵孝成王, Zhào Kuò 赵括, Zhōu Nǎn Wáng 周赧王, Yíng Zhèng 嬴政, Qin King Xiàowén 秦孝文王, Lǚ Bùwéi 吕不韦, Zhào Jī 赵姬, Lào Ǎi 嫪毐, Lǐ Sī 李斯, Zhào Gāo 赵高, Yíng Fúsū 赢扶苏, Hú Hài 胡亥 / Qín Èrshì 秦二世, Méng Tián 蒙恬, 子楚 / 秦庄襄王, Zhèng Guó 郑国, Jīng Kē 荆轲, Wáng Bēn 王贲, Qín Shǐhuáng 秦始皇, Tú Suī 屠睢, Shǐ Lù 史禄, Chén Shè 陈涉, Wú Guǎng 吴广, Liú Bāng 刘邦, Xiàng Yǔ 项羽. Zǐyīng 赢子婴, Zhào Tuó 赵陀, Hàn Gāozǔ 汉高祖, Xiāo Hé 萧何, Lǚ Zhì 吕雉, Xiàng Liáng 项梁, Zhāng Liáng 张良, Chu King Huái 楚怀王, Fàn Zēng 范增, Hán Xìn 韩信, Chén Píng 陈平, Lù Jiǎ 陆贾, Yīng Bù 英布, Biǎn Què 扁鹊, Liú Yíng 刘盈 / Emperor Hùi 汉惠帝.

As companies invest billions in AI and automation to scale customer interactions, are they unintentionally building a wall between their brand and the very people they're trying to serve?Agility requires that as technology accelerates, our ability to listen to and understand the customer must accelerate even faster.Today, we're going to talk about how organizations can maintain and deepen their connection to consumers in an era increasingly defined by technological distance. We'll explore:- Why the more we lean on AI for efficiency, the more we need to invest in genuine human understanding.- How to translate abstract consumer insights into tangible actions that resonate across the entire organization, not just the marketing department.- The skills and cultural shifts necessary to prepare marketing teams for a future where empathy is as critical as data analysis.To help me discuss this topic, I'd like to welcome Melissa Blunte, Director, Consumer Experience at Georgia-Pacific. About Melissa BlunteKnown for: A “get it done” attitude. With an ownership mentality, strategic thinking, clear communication, persistence, and a willingness to do things differently, I will find a way to get things done.I am a strategic brand and commercial leader with 20 years of experience driving growth and innovation across Fortune 500 companies and billion-dollar brands such as Zyrtec®, Lipitor®, Similac® Infant Formula, Quilted Northern®, and Angel Soft®.Throughout my career, I've thrived at the intersection of brand building and business results. From launching products and crafting integrated marketing strategies, to leading high-performing teams and managing P&Ls, my focus has always been on delivering measurable impact.I bring a unique combination of big-company discipline, cross-functional leadership, and entrepreneurial agility — and I'm energized by the challenge of crafting strategy and turning them into actions that drive value.Melissa Blunte on LinkedIn: https://www.linkedin.com/in/melissa-mapp-blunte-b452359/---------- Resources ---------- : https://www.gp.com/The Agile Brand podcast is brought to you by TEKsystems. Learn more here: https://aglbrnd.co/r/2868abd8085a9703We're proud to be a media partner for #MAICON26 - Oct. 13-15! Learn how AI can power your marketing and business and help you grow smarter. Use code AGILE150 to save! https://aglbrnd.co/r/7fe458ced0f04658Reach your customers with Reddit. Spend $500 in ad spend, get $500 back in ad credit! Learn more: https://advertalize.com/r/491818c79fb1873fChaser is the only Slack-native project management platform that helps teams turn messages into tracked tasks, automate follow-ups, and maintain team-wide visibility, without adopting another tool. Now integrated with Claude and other GenAI tools. Learn more at trychaser.com and use code AGILEBRAND for a 3-month free trial (normal trial is 14 days).The most influential minds in software, AI, and engineering leadership will be at WeAreDevelopers World Congress North America, September 23-25 in San Jose. Learn more: https://aglbrnd.co/r/60a7299222a7bcf1Start building your own apps with Replit and get $20 off. Learn more: https://aglbrnd.co/r/93531742a7625a20Enjoyed the show? Tell us more at and give us a rating so others can find the show at: https://aglbrnd.co/r/faaed112fc9887f3Connect with Greg on LinkedIn: https://www.linkedin.com/in/gregkihlstromDon't miss a thing: get the latest episodes, sign up for our newsletter and more: https://aglbrnd.co/r/35ded3ccfb6716baCheck out The Agile Brand Guide website with articles, insights, and Martechipedia, the wiki for marketing technology: https://www.agilebrandguide.comThe Agile Brand is produced by Missing Link—a Latina-owned strategy-driven, creatively fueled production co-op. From ideation to creation, they craft human connections through intelligent, engaging and informative content. https://www.missinglink.company Hosted on Acast. See acast.com/privacy for more information.

Toyota didn't beat Mercedes by getting cheaper. It beat Mercedes by getting closer to the customer first. Here's the six-year research obsession behind the Lexus LS 400, and why undercutting your way to a full panel is a strategy that has already failed in a dozen other industries, and what Harvard's own pricing research says to do instead. By Michael Tetreault, Editor-In-Chief, Concierge Medicine Today "I'm a car guy, so bear with me on this one. There will be some good points [in this article], I promise. I know enough about engines to self-diagnose and wrench on them myself. Driving an old car with lifter problems through North Dakota and southern Canada in the '90s will teach you that." ~Michael Tetreault Today's article isn't about concierge medicine directly. It's about a distant cousin in the subscription-based healthcare world, direct primary care, or DPC. Over the past two decades, I've noticed more and more that there is a moment almost every DPC or low-cost, membership-based practice hits around year two or three, when the patient panel quietly stalls (catch the car pun). Growth that used to feel automatic starts to flatten out, and you notice it before you can quite explain it. That's usually right about when a competitor down the road launches at $59 to $93 a month, and a quiet voice in your head says: just drop the price. Fill the seats. Worry about margin later. That instinct is understandable. It is also, according to decades of business research and a growing body of data inside concierge and membership medicine itself, one of the fastest ways to damage the very practice you built to serve patients better. This is not a scolding. It is a strategy conversation, grounded in evidence, for low-cost subscription-based physicians who left, or are considering leaving, the insurance-driven system specifically to build something sustainable that has a low cost for the patients because you feel your altruistic nature pulling you to do so. But, if the goal is sustainability, the tactic matters. What "racing to the bottom" actually means Let's zoom out for a moment. A price war is what happens when competitors inside the same market repeatedly cut prices to undercut one another, creating a cycle where each side matches or beats the last cut. This "price-cutting momentum" pulls in competitors who feel forced to follow the initial price cut, and while it can create short-term benefits for the buyer, it erodes the profit margins of everyone competing. Harvard Business School researchers Akshay Rao and Mark Bergen, writing in Harvard Business Review, built a career studying exactly this dynamic across industries. Their conclusion, echoed by strategists since, is blunt: most price wars are avoidable, and the businesses that start them or get pulled into them rarely come out ahead. The Kinsta business blog, summarizing HBR's own internal analysis of the question, put it plainly: when businesses were asked whether they should engage in a price war, the overwhelming answer was "no." Instead, the research points toward differentiation as the more durable response to a low-cost competitor. There is a second, quieter finding in that same research that some physicians should sit with. Price itself shapes how a buyer perceives value, and a price set too low signals that the product is cheap, in the way a price set too high can signal it is a ripoff. In other words, the discount that was supposed to win the patient can be the very thing that tells the patient your care is not worth much. It's indeed, a delicate balance and it's different for every practice and every doctor. Why? Because of who you work for and serve: the patient. Every patient is different. Every practice is different. That makes this topic challenging but it's a conversation worth having because I want to see your practice thrive and more importantly, survive in your community. The framework underneath the instinct Michael Porter, the Harvard strategist whose work still anchors most first-year MBA curricula, described three durable paths to competitive advantage: cost leadership, differentiation, or a focused niche strategy. A company chooses to compete either through lower costs than its rivals or by differentiating itself along dimensions the customer actually values, in order to command a higher price. What Porter warned against was the position most panic-driven price cuts land a practice in. Porter's phrase for it is "stuck in the middle," and it describes an organization trying to be all things to all people, with no distinct competitive advantage as a result. Businesses caught here typically perform the worst in their industry precisely because they never committed to one strength. A DPC practice that quietly lowers its price to compete on cost, while still trying to deliver same-day access, unhurried visits, and so-called affordable white-glove service, is not competing on cost leadership. It is trying to sell a premium product at a discount price, and the math does not hold. Today, a medical practice or a company stuck in this position cannot beat a true cost leader on price, because it never built the operational discipline or scale to sustain that price, and it cannot beat a differentiator on the experience it promised, because the discipline required to deliver that experience costs money. Both promises erode at once. What the data inside DPC and low-cost membership medicine is already showing This is not theoretical for DPC and low-cost membership medicine practices. It is visible in the industry's own numbers. The 2026 State of DPC survey, distributed through the DPC Alliance and Hint Health's network, found a direct relationship between panel size and price. Practices with fewer than 200 patients averaged $105.93 per member per month, practices with 201 to 500 patients averaged $99.28, and practices with more than 500 patients averaged $77.74 per member per month. Read plainly, the larger the panel, the lower the average price charged per patient. That pattern is exactly what Porter's framework predicts happens to practices chasing volume without a differentiation strategy to protect price. It is worth noting this figure comes from Hint Health, a technology vendor with a commercial interest in DPC's growth, so it should be read as directional industry data rather than an independent audit. It is nonetheless the most comprehensive dataset the movement currently has. At the same time, the broader market is not short on room to compete on value instead of price. More than half of private healthcare consumers rank the cost of care as the most dissatisfying part of their current healthcare experience, and DPC's growth has been driven in large part by employers and patients who are tired of opaque, escalating costs elsewhere in the system, not by DPC being the cheapest option on paper. Employers now fund the majority, roughly 60 percent, of active DPC memberships, according to Hint Health's 2026 trends report, which signals that the buyers filling panels today are increasingly sophisticated purchasers evaluating value, retention, and outcomes, not simply hunting for the lowest sticker price. Regional pricing tells a similar story. Northeast DPC pricing rose 33 percent over five years, from $60 to $80 a month, even as national demand for the model accelerated. Practices in that region did not grow by discounting. They grew while raising price, in a market that was simultaneously expanding. The altruism problem no one names out loud Here is the part of this conversation that is specific to medicine and does not show up in a typical business school case study on price wars. Physicians are trained, deliberately and repeatedly, to put the patient's welfare ahead of their own. Medical professionalism itself is defined in the literature by principles of excellence, accountability, altruism, integrity, and humanism, all oriented around the patient relationship. That formation is not incidental. It is the point of medical education, and it is a genuine strength of the profession that should never be coached out of a physician. But that same formation has a side effect worth naming honestly. A rigorous study out of the University of Cologne and University of Rennes, published in the Journal of Health Economics, measured patient-regarding altruism in 733 medical students at different stages of training. The researchers found that patient-regarding altruism is highest among freshmen, declines significantly through the middle years of medical study, and rises again in the final year as students begin assisting in clinical practice. Students with lower income expectations showed higher altruism scores overall. Sit with that last finding. The training that makes physicians excellent, trustworthy, patient-first clinicians also correlates with a documented discomfort around charging what care is actually worth. That discomfort is admirable in the exam room. It becomes a strategic liability in the business office, where it quietly nudges a physician toward the lowest defensible price rather than the price that reflects the value delivered, the access provided, and the sustainability required to keep serving that same patient for the next twenty years. This is not a call to abandon altruism. It is a call to separate two different questions that get tangled together under stress: am I a good doctor and am I running a sustainable practice. A price built out of guilt is not more altruistic than a price built out of strategy. A closed practice serves no one. What other industries learned the hard way Medicine is not the first field to face this exact temptation, and the businesses that raced to the bottom on price rarely tell a happy ending. Rao and Bergen's HBR research spans industries from B2B and agribusiness to healthcare and the nonprofit sector, and the throughline in that body of work is consistent: firms that respond to a low-price competitor by cutting their own price usually shrink the whole market's profitability without gaining durable share, because the competitor simply cuts again. The winners in price wars, when there are any, tend to be the largest players with the deepest balance sheets, the ones who can absorb losses the longest. A solo or small-group physician practice is almost never that player, and should not try to be. The lesson for low-cost DPC physicians is not abstract. It is Porter's choice, stated as a decision every practice has to make deliberately rather than by drift: compete on being demonstrably, operationally the lowest-cost, highest-efficiency provider in your market, which requires real scale and real systems, or compete on being demonstrably different in a way patients value enough to pay for. Trying to hold both at once is what leaves a practice, in Porter's words, stuck in the middle, with margins too thin to sustain the very things that made the practice worth choosing in the first place. The Lexus Lesson: Price Is a Result, Not a Strategy Circling back to my car guy roots, there is an automotive story worth every physician's attention here, because it is one of the clearest business case studies ever produced on the exact question this article is asking you if you're a DPC physician. It comes from Hagerty's "Revelations" series, hosted by Jason Cammisa, on the origin of the 1989 Lexus LS 400, and it has been retold in detail across automotive trade press and in Chester Dawson's book Lexus: The Relentless Pursuit. The origin story matters as much as the engineering. Toyota's first American export, the Toyopet Crown, was a flop, selling only a few hundred units before Toyota pulled it from the market in the late 1950s. Twenty five years of steady rebuilding later, Toyota had become the largest importer of vehicles into the United States, and that success triggered a protectionist response. In the early 1980s, the U.S. government pressured Japan into so-called voluntary export restraints, capping Japanese auto imports at roughly 1.7 million vehicles a year. With volume capped by government policy, Toyota USA's Yukiyasu Togo pushed a different lever: if the company could not sell more cars, it needed to sell more profitable ones. That constraint, not ambition alone, is what pushed Toyota into the luxury segment. In 1983, Toyota's then chairman Eiji Toyoda greenlit a secret effort known as Project F1, for Flagship One. Where a typical vehicle program of that era might use around 200 engineers and a few hundred million dollars, F1 was reportedly given no fixed budget and a development team of roughly 1,400 engineers, 60 designers, and thousands of additional technicians and support staff, spread across a six-year effort widely reported to have cost in the neighborhood of a billion dollars. What that team actually did is the part physicians should study closely. Rather than guess at what luxury buyers wanted, a team of designers and engineers relocated to a rented house in Laguna Beach, California, and spent months directly observing affluent Americans: watching valet stands outside country clubs, studying the furniture in high-end homes, and even analyzing the leather scent inside Jaguar interiors closely enough to reverse-engineer the tanning process. They tested switchgear and steering wheel ergonomics against how women with long, manicured nails actually interact with a dashboard. This is the practice Toyota calls genchi genbutsu, going to see for yourself, rather than relying on assumptions about the customer. Separately, Toyota's research uncovered something more specific and more useful than "people want a cheaper luxury car." Mercedes-Benz owners loved the prestige of their cars but consistently described the dealership experience itself, the pressure, the wait, the sense of being talked down to, as miserable. Lexus rebuilt the entire buying experience around that single insight. Sales moved from an elevated desk to a shared coffee table, removing the physical power imbalance of a traditional car sale. Only 80 of roughly 1,500 dealer applicants were approved to sell the car, each required to invest several million dollars and submit to ongoing customer satisfaction audits. The product and the experience of buying it were treated as a single, inseparable offer. The engineering discipline underneath all of this was, by most independent accounts, extreme. Chief engineer Ichiro Suzuki pursued a drag coefficient of 0.29, well below the S-Class's 0.36 to 0.37, without relying on a rear spoiler, which he considered an inelegant shortcut. Interior noise was engineered down to roughly 58 decibels versus about 60 for the S-Class, and multiple road tests reported the LS 400 was as quiet at 125 miles per hour as its German rivals were at 95. Prototypes logged well over a million miles of testing, and engineers reportedly disassembled competitor vehicles to study exactly how they failed over years of use, then engineered around each weakness. When the LS 400 launched in 1989, it was priced at roughly $35,000, commonly cited as about half the price, or as much as $30,000 less, than a comparably equipped Mercedes-Benz S-Class. The price gap was so large that BMW reportedly suggested Toyota was selling the car at a loss. Within two years, Lexus had overtaken Mercedes-Benz as the best-selling luxury import brand in the United States and topped J.D. Power's quality and service rankings, and Mercedes is reported to have lost roughly a quarter of its U.S. sales in the aftermath. Here is the part physicians should sit with. The low price was not the strategy. It was the output of the strategy. Toyota did not set out to build a cheaper Mercedes and work backward. It spent six years and enormous resources removing the specific frustrations its own research showed were driving prestige-loving customers away, then engineered a manufacturing process disciplined enough to make that quality repeatable at scale, and only after that work was done did it set a price the market would reward. The aggressive price was possible because the operational excellence and the customer research underneath it were real, not because anyone at Toyota decided to compete by cutting corners. This is the distinction that gets lost when a DPC or low-cost membership medicine practice drops its membership fee simply to fill a panel out of fear. Toyota's price was earned through relentless, well-funded engineering and firsthand study of exactly what its target customer resented about the existing options. A practice that lowers its price without first doing that same work, actually going to see for yourself what frustrates the patients you want to serve, and building a practice that removes those specific frustrations, is doing the opposite of what Lexus did. It is cutting the price before it has earned the right to. The translatable lesson is not "charge less." It is this: find out, directly and specifically, what your patients are actually frustrated by in the healthcare experience they already have, build a practice that removes that frustration with real discipline, treat the entire patient experience, not just the clinical visit, as part of the product, and let price follow from that work rather than substitute for it. Toyota spent six years in the field before it touched the price tag. Most practices considering a discount have not spent six weeks asking patients what specifically is broken in the care they are currently getting. What to build instead None of this means price is fixed or that access should be reserved only for the wealthy. It means the starting question changes. Instead of asking what is the lowest price that will fill my panel, the more durable question is what does my practice do that a patient cannot get anywhere else in this market, and does my price reflect that honestly. That might be same-day access. It might be visit length. It might be a specific clinical focus, a specific population, or a specific relationship to a local employer. Differentiation does not require the highest price in the market. It requires a clear, honest reason for the price you have chosen, one you can say out loud to a patient without flinching. Panel growth built on discounting tends to attract patients who are price-shopping and will leave the moment a cheaper option appears next door. Panel growth built on a clear, differentiated value proposition tends to attract patients who stay, refer, and tolerate a price increase because they understand what they are paying for. This article is intended for educational and informational purposes for physicians and healthcare leaders. It does not constitute financial, legal, accounting, or medical advice, and practice pricing decisions should be made in consultation with qualified financial and legal advisors familiar with your specific market and regulatory environment. Sources Rao, Akshay R. and Bergen, Mark E. "How to Fight a Price War." Harvard Business Review, March-April 2000. hbr.org/2000/03/how-to-fight-a-price-war "Price war." Wikipedia, accessed August 2026. en.wikipedia.org/wiki/Price_war "How a Race to the Bottom Hurts Your Business's Bottom Line." Kinsta, July 15, 2024. kinsta.com/blog/race-to-the-bottom Porter, Michael E. Competitive Strategy (1980) and Competitive Advantage (1985), Harvard Business School Press. Summarized via "Porter's generic strategies," Wikipedia, and Strategic Management Insight, strategicmanagementinsight.com/tools/porters-three-generic-strategies "State of DPC 2026: Key Takeaways From DPC Alliance's Physician Survey." Hint Health, July 18, 2026. blog.hint.com/state-of-dpc-2026-key-takeaways-from-the-dpc-alliances-physician-survey "Hint Health Releases 2026 Direct Primary Care Trends Report." Hint Health, April 23, 2026, distributed via PR Newswire, Yahoo Finance, and Morningstar. "DPC Membership Pricing Trends." Hint Health Blog, June 24, 2022. blog.hint.com/dpc-membership-pricing-trends "High cost of health care may be boosting direct primary care membership." Medical Economics, November 16, 2025. medicaleconomics.com/view/high-cost-of-health-care-may-be-boosting-direct-primary-care-membership Sagebien, Julia; L'Haridon, Olivier; Wiesen, Daniel; et al. "The formation of physician altruism." Journal of Health Economics, Vol. 87, 2023. sciencedirect.com/science/article/pii/S0167629622001308 (also indexed on PubMed, ID 36603361) "Professional identity formation of clinical medical students during and beyond the pandemic." PMC, National Library of Medicine. pmc.ncbi.nlm.nih.gov/articles/PMC11150932 Cammisa, Jason. "The Absurd Engineering Obsession Behind the 1989 Lexus LS 400." Hagerty Revelations, YouTube, youtu.be/i15Ii4yetLM "How the Lexus LS400 Crashed the Luxury Party." Autoblog, October 2, 2025. autoblog.com/features/how-the-lexus-ls400-crashed-the-luxury-party "How Lexus defeated 'the best car in the world.'" Motoring Research, July 25, 2024. motoringresearch.com/car-news/lexus-ls-400-review "Lexus LS 400: 'the finest V8 engine in the world.'" Cult Classics, Adrian Flux, August 21, 2023. adrianflux.co.uk/cult-classics/lexus-ls-400-the-finest-v8-engine-in-the-world Dawson, Chester. Lexus: The Relentless Pursuit. John Wiley & Sons, revised edition. Publisher synopsis via AbeBooks, abebooks.com/9780470828045 A detailed companion recap of the Hagerty Revelations episode, covering Project F1 staffing, the Laguna Beach research house, the coffee-table dealership model, and Suzuki's engineering targets, was supplied directly by the editor. Its original publisher and byline could not be independently confirmed at time of writing. Facts drawn from it (drag coefficient, price gap, engineer count, dealership vetting) were cross-checked against sources 11 through 15 above before inclusion, and the editor should confirm original attribution before publication.

G-Bag Nation analyzes Colorado's chaotic win over Georgia Tech and the Dallas Cowboys' recent salary cap maneuvers. They discuss the legal ramifications of college athletes returning to play before ranking the top uniforms for the opening week of the season. The segment concludes with personal listener stories and sports news during the Ls and Dubs portion of the broadcast. (00:02:15) Colorado And Cowboys Talk (00:08:34) Da'Quan Wright Legal Battle (00:16:51) G-Bag Of The Day (00:20:48) High School And Media (00:24:23) Best Week One Uniforms (00:35:01) Ls And Dubs Segment

Eine VDE-Norm ist wichtig, aber sie ist kein magischer Schutzschild.In dieser Folge des Elektrotechnik Podcast klären wir, was der Unterschied zwischen DIN-VDE-Norm, anerkannten Regeln der Technik und Stand der Technik ist.Du erfährst, warum Normkonformität nicht immer reicht, warum Innovation oft vor Normung kommt und warum Elektrofachkräfte bei RCD, LS, ECPD oder AFDD nicht nur Normnummern lesen, sondern Risiken sauber bewerten müssen.Quellen:Q1: VDE FNN – Rechtliche Grundlagen / technische Regeln und VDE-Anwendungsregelnhttps://www.vde.com/de/fnn/vde-fnn-im-fokus/regelsetzung/regelsetzung-grundlagenQ2: Bundesministerium der Justiz und für Verbraucherschutz - Gesetz über die Elektrizitäts- und Gasversorgung (Energiewirtschaftsgesetz - EnWG)§ 49 Anforderungen an Energieanlagen; Verordnungsermächtigung; Festlegungskompetenzhttps://www.gesetze-im-internet.de/enwg_2005/__49.htmlQ3: DGUV Vorschrift 3 – Elektrische Anlagen und Betriebsmittelhttps://publikationen.dguv.de/widgets/pdf/download/article/1052Q4: Betriebssicherheitsverordnung, Definition „Stand der Technik“https://www.gesetze-im-internet.de/betrsichv_2015/BJNR004910015.htmlQ5: Siemens – SENTRON Fehlerstrom-Schutzeinrichtungen, Technik-Fibelhttps://support.industry.siemens.com/cs/document/109482301/technik-fibel-fehlerstrom-schutzeinrichtungen?dti=0&lc=de-DEQ6: Siemens – SENTRON ECPDhttps://www.siemens.com/de-de/products/sentron/sentron-ecpd/Q7: VDE Institut – Prüfzeichen und Bescheinigungenhttps://www.vde.com/VDEZeichenQ8: SENTRON Leitungsschutzschalter Technik-Fibel (S.78)https://support.industry.siemens.com/cs/attachments/109482304/SENTRON-Leitungsschutzschalter-Technik-Fibel_original_202601090922325169.pdfQ9: Siemens – AFDD-Schalter / Risiko- und Sicherheitsbewertunghttps://www.siemens.com/de-de/content/sentron-afdd-switches/Q10: Brandschutzschalter-LS-Kombi 230V, 6kA, 1+N, B, 16A Kompakt (1TE)https://sieportal.siemens.com/de-de/products-services/detail/5SV6016-6KK16?tree=CatalogTree⚡ Du möchtest dein Wissen rund um den sicheren und effizienten Betrieb elektrischer Anlagen erweitern? In der Siemens Webinar-Reihe „Effizientes Betreiben von Gebäuden und Industrieanlagen“ teilen erfahrene Expertinnen und Experten praxisnahes Know-how für Verantwortliche Elektrofachkräfte (VEFK) und Betreiber. Mehr dazu: https://sie.ag/7Lzd1bhttps://www.paypal.com/donate/?hosted_button_id=9UW85PQWLBWZSAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Credits: 0.75 AMA PRA Category 1 Credit™   CME/CE Information and Claim Credit: https://www.pri-med.com/online-education/podcast/frankly-speaking-cme-500 Overview: To celebrate our 500th episode, each member of our team revisits a popular topic from the podcast's earlier installments—GLP-1s, cervical and breast cancer screening, diet and exercise, contraception, hypertension, and lipid management—to trace how the evidence and guidelines have changed since it was first covered. Whether you're catching up or reinforcing what you know, this milestone episode helps you bring the latest evidence into everyday patient care. Guest: Robert Baldor, MD, Alan Ehrlich, MD, Susan Feeney, DNP, FNP-BC; FAANP, Jillian Joseph, PA, Mariyan L. Montaque, DNP, FNP-BC, Jill Terrien PhD, ANP-BC, FAAN   Music Credit: Matthew Bugos Thoughts? Suggestions? Email us at FranklySpeaking@pri-med.com  Episode resource links:  Zhou H et al.  Evaluation and Comparison of the PREVENT and Pooled Cohort Equations for 10‐Year Atherosclerotic Cardiovascular Risk Prediction. Journal of the American Heart Association Volume 14, Number 4 Goff DC et al. 2013 ACC/AHA guideline on the assessment of cardiovascular risk: a report of the American College of Cardiology/American Heart Association task force on practice guidelines. Circulation. 2014;129:S49–S73. Circulation. 2018 Jul 24;138(4):345-355.  eClinicalMedicine 2025: 103741. Curry, J. (2018). Screening for cervical cancer: US Preventive Services Task Force Recommendation Statement. JAMA.320(7):674-686. doi:10.1001/jama.2018.10897 https://www.ncbi.nlm.nih.gov/pubmed/30140884  Perkins RB, Wolf AMD, Church TR, et al. Self-collected vaginal specimens for human papillomavirus testing and guidance on screening exit: An update to the American Cancer Society cervical cancer screening guideline. CA Cancer J Clin. 2026;e70041. doi:10.3322/caac.70041   Screening for Cervical Cancer (2026). Obstetrics & Gynecology, 148(1), e63-e67. https://doi.org/10.1097/AOG.0000000000006257  Jad Zeitouni, Nosayaba Osazuwa-Peters, Yusuf Dundar, Gregory Zimet, Mark A. Varvares. (2025). Two decades of the HPV vaccine: its promise, progress, prospects, projections, and posterity, The Lancet Regional Health - Americas, (51), https://doi.org/10.1016/j.lana.2025.101243 Diabetes, Obesity and Metabolism 28, no. 6 (2026): 5043–5057, https://doi.org/10.1111/dom.70698.  Relationship of early rapid weight loss to efficacy and safety of tirzepatide and semaglutide for obesity: SURMOUNT-5 post hoc analysis. Am J Med. 2026 Jul;139(7):913-921. doi: 10.1016/j.amjmed.2026.03.010 US Preventive Services Task Force; Nicholson WK, Silverstein M, Wong JB, et al. Screening for breast cancer: US Preventive Services Task Force recommendation statement. JAMA. 2024;331(22):1918–1930.  Trentham-Dietz A, Chapman CH, Jayasekera J, et al. Collaborative modeling to compare different breast cancer screening strategies: a decision analysis for the US Preventive Services Task Force. JAMA. 2024;331(22):1931–1946. Giaquinto AN, Sung H, Miller KD, et al. Breast cancer statistics, 2022. CA Cancer J Clin. 2022;72(6):524–541.  Qaseem A, Harrod CS, Balk EM, et al. Screening for breast cancer in asymptomatic, average-risk adult females: a guidance statement from the American College of Physicians (Version 2). Ann Intern Med. 2026.:  American Cancer Society. Breast Cancer Facts & Figures 2022–2024. Atlanta, GA: American Cancer Society, 2022.  Hu X, Chehal PK, Kaplan C, et al. Racial differences in patient-reported symptoms and adherence to adjuvant endocrine therapy among women with early-stage, hormone receptor-positive breast cancer. JAMA Netw Open. 2022;5(8):e2225485.  Torres JM, Sodipo MO, Hopkins MF, Chandler PD, Warner ET. Racial differences in breast cancer survival between Black and White women according to tumor subtype: a systematic review and meta-analysis. J Clin Oncol. 2024;42(35):4225–4234.  Bailey ZD, Krieger N, Agénor M, Graves J, Linos N, Bassett MT. Structural racism and health inequities in the USA: evidence and interventions. Lancet. 2017;389(10077):1453–1463. Hypertension. 2026;83:00–00. DOI: 10.1161/HYPERTENSIONAHA.125.25787 Allen RH, Bartz D. Opill: The Over-the-Counter Contraceptive Pill. Obstet Gynecol. 2024;143(2):184-188. doi:10.1097/AOG.0000000000005455  Cahill EP, Kaur S. Advances in contraception research and development. Curr Opin Obstet Gynecol. 2020;32(6):393-398. doi:10.1097/GCO.0000000000000666  Charles DN, Nagarsheth M, Oshman L. Pain Management for IUD Insertion in Primary Care. Am Fam Physician. 2025;111(4):299-301.  Chen, C., Strasser, J., Banawa, R., Luo, Q., Bodas, M., Castruccio-Prince, C., Das, K., & Pittman, P. (2022). Who is providing contraception care in the United States? An observational study of the contraception workforce. American journal of obstetrics and gynecology, 226(2), 232.e1–232.e11. https://doi.org/10.1016/j.ajog.2021.08.015  Diedrich,J., Klein, D. Peipert, J.(2017). Long-acting reversible contraception in adolescents: a systematic review and meta-analysis, Am J Ob Gyn, April 2017. http://dx.doi.org/10.1016/j.ajog.2016.12.024  Li RHW, Lo SST, Gemzell-Danielsson K, Fong CHY, Ho PC, Ng EHY. Oral emergency contraception with levonorgestrel plus piroxicam: a randomised double-blind placebo-controlled trial. Lancet. 2023;402(10405):851-858. doi:10.1016/S0140-6736(23)01240-0  Mørch LS, Meaidi A, Corn G, Hargreave M, Wessel Skovlund C. Breast Cancer in Users of Levonorgestrel-Releasing Intrauterine Systems. JAMA. 2024;332(18):1578–1580. doi:10.1001/jama.2024.18575  Nguyen AT, Curtis KM, Tepper NK, et al. U.S. Medical Eligibility Criteria for Contraceptive Use, 2024. MMWR Recomm Rep. 2024;73(4):1-126. Published 2024 Aug 8. doi:10.15585/mmwr.rr7304a1  Paradise SL, Landis CA, Klein DA. Evidence Based Contraception: Common Questions and Answers. American Family Physician. 2022. https://www.aafp.org/afp/2022/0900/contraception The views expressed in this podcast are those of Dr. Domino and his guests and do not necessarily reflect the views of Pri-Med.

Andy Schwartz CEO, OnePoint BFG Wealth Partners  |  Kevin Spahn Founder, Spahn Financial (now OnePoint BFG) Two former Northwestern Mutual advisors, two very different paths. Andy Schwartz and Kevin Spahn share what it takes to build, grow, merge, and create lasting enterprise value. In Summary What separates a successful advisory practice from an enterprise with the ability to grow well beyond its founders? Andy Schwartz and Kevin Spahn offer two different perspectives on that question. Both spent decades at Northwestern Mutual, but their paths eventually diverged. Andy left to help build what is now OnePoint BFG Wealth Partners, an $18B+ firm expected to surpass $20B by year-end. Kevin built one of Northwestern Mutual's top practices before deciding to merge his business into OnePoint and become an equity partner. Louis talks with Andy and Kevin about the decisions behind both journeys: creating a true firm rather than an aggregation of practices, transitioning advisors from 1099 to W-2, using outside capital without relinquishing control, rethinking succession, and determining when equity in a larger enterprise can offer greater opportunity than continuing to build alone. Underlying it all is a factor that's much harder to quantify: trust. The Storyline Andy Schwartz and Kevin Spahn have known each other for roughly 30 years. They met while both were building careers at Northwestern Mutual, where Andy became an important mentor to Kevin as Kevin transitioned from practicing law and estate planning into wealth management. After roughly 30 years at Northwestern Mutual, Andy and his partners left in 2015 with approximately $3B in assets to launch independently. What began as Bleakley Financial eventually became OnePoint BFG Wealth Partners, an $18B+ enterprise that Andy expects will surpass $20B by the end of 2026. That kind of growth required more than attracting assets. Andy describes the evolution from a predominantly 1099 structure into a firm where more than 85% of advisors and AUM are now W-2. The shift created a more cohesive enterprise, gave advisors access to equity, and ultimately positioned OnePoint to bring in minority capital from Joe Duran's Rise Growth Partners. Andy makes an important distinction about that relationship: OnePoint is “private equity invested,” not “private equity owned.” The structure gave the firm capital and expertise while allowing its partners to retain control. Kevin faced a different decision. After more than 30 years at Northwestern Mutual, his practice had grown to 18 people and approximately $2B in assets. He was happy at the firm, but his clients had evolved, his business had become increasingly complex, and the internal succession plan he once envisioned carried risks he could no longer ignore. He could have built an independent firm himself. Instead, he chose to merge with OnePoint. The decision wasn't driven by the largest possible check. Kevin saw the opportunity to become an equity partner in a larger enterprise, give his team and clients a more durable future, and leverage infrastructure he didn't want to recreate himself. For both men, the story ultimately comes back to the same principle: The right economics matter, but sustainable partnerships require trust, shared philosophy, and the belief that everyone involved can create more value together than separately. Topics Covered Building an enterprise versus building a practice Northwestern Mutual and the path to independence OnePoint BFG Wealth Partners' growth from ~$3B to $18B+ Organic growth versus M&A Creating a growth-oriented advisor culture Moving from a 1099 model to a predominantly W-2 structure Equity ownership and advisor alignment Minority private equity investment Rise Growth Partners and Joe Duran Internal succession versus an external merger Selling versus merging an advisory business Merging versus teaming versus going it alone Evaluating equity versus cash in a transaction The economics of leaving a captive firm Centralization versus advisor autonomy Trust as a factor in partnerships and transactions > Download a transcript of this episode… Listen and Learn Highlights for Advisors How did Andy and Kevin's 30-year relationship ultimately lead to a transaction? (04:11)Kevin explains how Andy helped him transition from attorney and estate planner into wealth management, beginning a professional relationship that would eventually make their partnership possible decades later. Why did Andy leave Northwestern Mutual after roughly 30 years? (08:45)Andy describes wanting greater flexibility, a multi-custodial platform, and more optionality for clients and the business—a decision that ultimately led to the creation of OnePoint BFG. Why did Kevin decide his longtime Northwestern Mutual practice needed something different? (15:49)Kevin explains how his clients, service needs, and business evolved over time, while concerns about his original internal succession plan led him to consider a different path. What has driven OnePoint's growth from approximately $3B to $18B+? (21:41)Andy outlines the firm's emphasis on client experience, advisor experience, organic growth, and carefully selected inorganic growth—and why helping advisors grow is fundamental to the model. Why does Andy say OnePoint is a firm rather than an aggregator? (23:54)The distinction comes down to alignment, shared responsibility, centralized resources, equity, and a partnership structure in which advisors are accountable to one another. How did OnePoint convert a predominantly 1099 advisor base into a W-2 enterprise? (29:26)Andy explains why capital and equity became necessary to build the next stage of the business and why trust was essential to bringing advisors into a more integrated structure. Why did OnePoint choose minority private equity investment? (33:13)Andy shares why Rise Growth Partners offered something previous potential buyers had not: a structure designed to benefit the broader advisor partnership while preserving control. Why did Kevin merge with OnePoint rather than shop his practice broadly? (36:43)For Kevin, maximizing price wasn't the objective. His decision centered on trust in Andy, confidence in OnePoint's infrastructure, and creating a strong future for clients and employees. Why did Kevin choose equity in the larger firm instead of simply cashing out? (40:57)Kevin explains why he believes participating in the future growth of a larger enterprise offers a compelling alternative to relying solely on the future growth of his own practice. How should advisors evaluate the “golden handcuffs” that can make leaving difficult? (46:42)Andy argues that the analysis needs to compare what an advisor gives up with the potential growth, economics, equity, and leverage available on the other side. How much conformity does a true enterprise require? (49:06)Andy explains why OnePoint sits somewhere between complete advisor autonomy and complete centralization, seeking enough consistency to create enterprise value without eliminating entrepreneurial flexibility. What would Andy and Kevin tell their younger selves? (52:06)Kevin emphasizes surrounding yourself with the best people possible, while Andy reflects on having the courage to make a difficult change after a successful 30-year run. Key Takeaways Building enterprise value requires more than asset growth. OnePoint's evolution included changing its ownership structure, integrating advisor practices, creating equity opportunities, and investing in centralized capabilities. Organic growth remains central even in an M&A-driven market. OnePoint targets approximately 10% organic growth and evaluates prospective partners partly on whether they are growth-oriented and whether the firm can meaningfully help them grow. A collection of successful advisors does not automatically make a firm. Andy sees shared ownership, alignment, accountability, infrastructure, and centralized services as critical distinctions between an enterprise and an aggregator. Outside capital does not have to mean giving up control. OnePoint chose a minority investment from Rise Growth Partners that provided capital and strategic support while leaving control with its operating partners. Succession can expose risks that growth may obscure. Kevin began reconsidering his internal succession strategy when he recognized its dependence on his continued production, key employees, and the future economics of an aging client base. The highest purchase price isn't always the most valuable transaction. Kevin prioritized equity participation, infrastructure, continuity for his employees and clients, and confidence in his future partners over broadly shopping his business for the highest bid. Trust can determine whether structural change is possible. From OnePoint's 1099-to-W-2 conversion to Kevin's decision to merge, both guests repeatedly point to established trust as the foundation that allowed significant business decisions to happen. https://youtu.be/jkIoynpZj6Y Quotable Moments “The biggest mistake advisors make is they buy their own bullshit.”— Andy Schwartz “We're not an aggregator, we're a firm.”— Andy Schwartz “The biggest issue is trust. Either they trust you or they don't.”— Andy Schwartz “I wasn't looking to sell my business. I was looking to merge it.”— Kevin Spahn “You have to trust them. You have to see that they provide value. And you need to be on the same page philosophically.”— Kevin Spahn “Associate yourselves with the best people you can… It accelerates your trajectory in ways that you can't do on your own.”— Kevin Spahn FAQs Why did Andy Schwartz leave Northwestern Mutual? After approximately 30 years at Northwestern Mutual, Andy and his partners wanted greater flexibility, the ability to operate on a multi-custodial basis, and more optionality for clients and the business. They left in 2015 with approximately $3B in assets and launched the independent firm that ultimately became OnePoint BFG Wealth Partners. How large is OnePoint BFG Wealth Partners? At the time of the interview, Andy says OnePoint manages more than $18B and expects to exceed $20B by the end of 2026, even without additional organic growth. What has driven OnePoint's growth? Andy points to three priorities: client experience, advisor experience, and growth. The firm targets approximately 10% organic growth while also expanding through acquisitions and partnerships with advisors it believes fit the OnePoint model. Why did OnePoint move advisors from 1099 to W-2? The firm wanted to evolve from a platform supporting individual practices into a more integrated enterprise. That required creating firm-level economics and equity that could be used to attract, retain, and align advisors. Today, Andy says more than 85% of OnePoint's advisors and AUM are W-2. What does “private equity invested, not private equity owned” mean? Rise Growth Partners holds a minority, non-controlling interest in OnePoint. The investment provides capital, expertise, and strategic support while the operating partners retain majority ownership and control of the business. Why did Kevin Spahn leave Northwestern Mutual? Kevin says he remained happy at Northwestern Mutual, but his practice and clients had evolved. His work had shifted increasingly toward investments and complex high-net-worth planning, while he also began identifying risks in his intended internal succession plan. Why did Kevin merge with OnePoint rather than launch his own independent RIA? OnePoint already had the infrastructure, people, and capabilities Kevin would have needed to build himself. The merger allowed him to focus on clients while becoming an equity partner in a larger enterprise he believed could grow faster than his standalone practice. Why didn't Kevin shop his practice to multiple buyers? Kevin says his decision was driven primarily by trust. He had known Andy and other OnePoint partners for decades and believed the firm offered the right future for his clients and employees. His choice ultimately came down to staying at Northwestern Mutual or joining OnePoint. How do Andy and Kevin suggest advisors evaluate a potential partner? Their discussion points to three fundamental considerations: trust, demonstrable value, and philosophical alignment. Economics matter, but both argue that a sustainable partnership depends on confidence in the people and business on the other side of the transaction. After approximately 30 years at Northwestern Mutual, Andy and his partners wanted greater flexibility, the ability to operate on a multi-custodial basis, and more optionality for clients and the business. They left in 2015 with approximately $3B in assets and launched the independent firm that ultimately became OnePoint BFG Wealth Partners. At the time of the interview, Andy says OnePoint manages more than $18B and expects to exceed $20B by the end of 2026, even without additional organic growth. Andy points to three priorities: client experience, advisor experience, and growth. The firm targets approximately 10% organic growth while also expanding through acquisitions and partnerships with advisors it believes fit the OnePoint model. The firm wanted to evolve from a platform supporting individual practices into a more integrated enterprise. That required creating firm-level economics and equity that could be used to attract, retain, and align advisors. Today, Andy says more than 85% of OnePoint's advisors and AUM are W-2. Rise Growth Partners holds a minority, non-controlling interest in OnePoint. The investment provides capital, expertise, and strategic support while the operating partners retain majority ownership and control of the business. Kevin says he remained happy at Northwestern Mutual, but his practice and clients had evolved. His work had shifted increasingly toward investments and complex high-net-worth planning, while he also began identifying risks in his intended internal succession plan. OnePoint already had the infrastructure, people, and capabilities Kevin would have needed to build himself. The merger allowed him to focus on clients while becoming an equity partner in a larger enterprise he believed could grow faster than his standalone practice. Kevin says his decision was driven primarily by trust. He had known Andy and other OnePoint partners for decades and believed the firm offered the right future for his clients and employees. His choice ultimately came down to staying at Northwestern Mutual or joining OnePoint. Their discussion points to three fundamental considerations: trust, demonstrable value, and philosophical alignment. Economics matter, but both argue that a sustainable partnership depends on confidence in the people and business on the other side of the transaction. Related Resources Rise and Reinvent: Joe Duran on Building and Rebuilding World-Class Firms From Insurance Sales to $8B RIA: A Northwestern Mutual Breakaway Story The 4th Annual Advisor Transition Report Andy SchwartzCo-Founder, Managing Partner, and Chief Executive Officer Andy Schwartz is the Co-Founder, Managing Partner, and Chief Executive Officer of OnePoint BFG Wealth Partners, where he also serves as a Wealth Management Advisor. A CERTIFIED FINANCIAL PLANNER® with more than 40 years of experience, Andy has built his career around helping clients make confident, well-informed financial decisions at every stage of life. He works extensively with physicians and business owners on wealth building, retirement planning, and tax-efficient asset transfer across generations. A 2026 finalist for Wealth Management Awards CEO of the Year (under $25B AUM), Andy brings the same discipline to leading the firm that he brings to client relationships: comprehensive planning, long-term thinking, and an unwavering commitment to independence and integrity. Beyond his client work, Andy is deeply invested in the advisory profession itself. He co-hosts The Advisor’s Compass podcast, offering candid, practical guidance on the business and responsibilities of being an advisor. His mentorship philosophy is straightforward: pass the ladder back down. His industry recognition spans more than a decade, including Top 1,200 Advisor by Barron’s (2018–2024), Top 250 Wealth Advisor and Best-In-State Wealth Advisor by Forbes (2018–2024), Top 400 Financial Advisor by the Financial Times (2018–2020), and Top 100 Independent Advisor (2020–2023). He was named Executive of the Year by NJBIZ in 2019 and was a finalist for the Invest in Others Lifetime Achievement Award for more than 20 years of service with NJ SEEDS. Andy holds a B.S. in Finance and Marketing from Rowan University and is actively involved with Nourish NJ, the Navy SEAL Foundation, the Jewish Federation of Greater MetroWest NJ, and JSDD. Outside the office, he enjoys golf, reading, and time with his family at the beach.   Kevin SpahnPartner and Wealth Advisor Kevin Spahn is a Partner and Wealth Advisor at OnePoint BFG Wealth Partners, bringing more than three decades of experience in comprehensive financial planning to his clients and the firm. Kevin’s path to wealth management is rooted in the law. After earning degrees from the University of Notre Dame and the University of Wisconsin, he began his career as a practicing attorney before making a deliberate pivot toward financial planning in 1993. He joined Northwestern Mutual, then founded Spahn Financial, building a practice centered on thoughtful, holistic planning for families and business owners. That practice joined OnePoint BFG Wealth Partners in 2025. His approach has remained consistent throughout: help clients build and protect wealth not just for themselves, but for the generations that follow. Kevin works with clients on comprehensive financial plans that account for the full picture, understanding that the impact of good planning extends well beyond an individual portfolio to families, businesses, employees, and the broader community. Kevin is based in the greater Chicago area.   NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. View the transcript of this episode… Build, Grow & Transact: Making the Leap from Northwestern Mutual to a $20B Enterprise A conversation between Louis Diamond, Andy Schwartz, CEO of OnePoint BFG Wealth Partners and Kevin Spahn, Founder of Spahn Financial (now OnePoint BFG). Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Build, Grow & Transact: Making the Leap from Northwestern Mutual to a $20B Enterprise. It’s a conversation with Andy Schwartz, CEO of OnePoint BFG Wealth Partners, and Kevin Spahn, founder of Spahn Financial, now OnePoint BFG. 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. 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: There’s a big difference between building a successful practice and building an enterprise. I think Andy Schwartz and Kevin Spahn offer a unique perspective on that distinction from two very different sides. Both spent decades in the Northwestern Mutual system. Andy ultimately left to build what became OnePoint BFG Wealth Partners, taking the firm from roughly three billion to nearly 20 billion and transforming just about every aspect of the business along the way. Kevin built one of Northwestern Mutual’s top practices before reaching a different inflection point, deciding what he wanted the next phase of his career and business to look like. Rather than go independent on his own or simply monetize what he had built, he chose to become part of Andy’s growing enterprise. That makes their story particularly relevant for our Build, Grow, and Transact series. Andy can speak to what it takes to build a firm capable of becoming an acquirer, from converting advisors from 1099s to W-2s, to creating equity opportunities, to bringing in outside capital while remaining very deliberate about being private equity-invested rather than private equity-owned. And Kevin brings the seller’s perspective, how you evaluate the economics, the trade-offs, and ultimately the people you’re trusting with the business you spent more than 30 years building. Because whether you’re building, buying, or considering a transaction of any kind, the numbers are only part of the equation. As you hear from both Andy and Kevin, trust may be the most important currency of all. So let’s get to it. Andy and Kevin, thank you so much for both joining us today. Andy Schwartz: Great to see you again, Lewis. Thank you for having us. Louis Diamond: I’ve been excited about this interview for a bunch of reasons. One, our Build, Grow, Transact series has become a real staple of our show and we got lots to talk about there. But also, the friendship, the relationship that you two have had for over 30 years really stood out to me. So before we get into the nuts and bolts, talk about your relationship. How’d you guys meet, and how did your career stay so intertwined together when you’re in different geographies and at different firms, and have each been very successful in your own rights? Andy Schwartz: Sure. Kevin, do you want to start with that? Kevin Spahn: Sure. I started in this career in 1994 and met Andy sometime after that. He was a more advanced financial planner. I was an attorney, and then I transitioned into this business. So when I first joined Northwestern Mutual, which is my first broker dealer, I didn’t really have a background in investments. At the time, a lot of Northwestern Mutual reps were learning the investment business because they maybe originally started with Northwestern Mutual focusing more on insurance planning. My background was more estate planning. At the time, if you think early ’90s, if you did estate planning, insurance often went hand in hand with that. The estate exemption in early 1990s was about $600,000. So if you pass more than $600,000 to your children, there was a 55% tax. One way around it was to put insurance in an irrevocable trust, help cover the tax that way. So it really was a popular common strategy back then, and it’s really what got me into the business. But I quickly realized that I didn’t want my future to be insurance and estate planning. And there was a conflict if you acted as someone’s attorney and sold insurance. So I had to pick one way or the other. I decided long-term it would be better for me to move into the wealth management space. But with that little background in that, I had a lot of work to do. So took a lot of tests, became a certified financial planner. But the person that helped me the most along the way was Andy. We became friends, we sat on committees together. That’s really how we met, I would say. So we worked side by side interacting with our home office and representing the field, bringing issues to the home office that we thought were beneficial to the field. As we did that together, I got to know Andy. And then separately, I learned from him how he built his business and how they would review clients’ portfolios and come up with solutions. So I really credit Andy with helping me more than anyone else to transition from attorney, financial planner doing more estate planning insurance to wealth management. Louis Diamond: Very cool. Hey, I would say, maybe I’m a little biased, that, Kevin, you picked the right path in hanging up the law shingle and coming into wealth management. Kevin Spahn: I tell a lot of people I’m a reformed attorney. Andy Schwartz: Great. Louis Diamond: Exactly. My dad would say the exact same thing. Very common at dinner tables in the Diamond households. Andy Schwartz: I was always grateful that I wasn’t smart enough to be an attorney. Louis Diamond: There we go. Andy Schwartz: That’s where my gratitude lies. Yeah. Louis Diamond: There we go. Andy Schwartz: Some would say he’s too smart. Louis Diamond: There we go. Andy, question for you. I mean, anyone who is at or was at Northwestern Mutual, I mean, you’re like Elvis to them. It’s absolutely crazy the amount of fanfare and brand recognition that you and your brother Scott have. But for those who maybe missed your first podcast appearance with us a number of years ago, or aren’t or weren’t within the Northwestern Mutual system, or haven’t been familiar with Bleakley and now OnePoint BFG, just give us the cliff notes, the origin story, how you got into the business, and how’d you get from here to there? Andy Schwartz: Yeah. So the origin is probably pretty common, probably by accident. Going into my senior year in college, I was working in a restaurant, had a falling out with my boss. I happened to be dating a woman who was living with a general agent with Fidelity Union Life. No one will have ever heard of Fidelity Union Life, but their secret sauce was they sold life insurance to college seniors on a note. So if you can get a $10 money order, because where I went to school, nobody had a checking account, then you could basically get a note signed and they would buy insurance. And then when they graduate, hopefully they’d pay for it. I started selling life insurance my senior year in college. And then my twin brother Scott, who is my partner, and has been for over 40 years, he took an interview with what was the nucleus of our present firm actually. I just went up to Northern New Jersey in May of 1984 because I was an expert. I had been selling life insurance to college kids for six months, so I knew everything you had to know. We met with these guys, and we both ended up joining them. So that was a Northwestern Mutual district agency, and that was 1984. We got licensed right away. I got my CFP in ’86. We always knew that it was going to be about planning. So I think we had the right idea. We were a little ahead of the curve because there weren’t a lot of CFPs in ’86. We got securities license immediately. So before Northwestern had securities license, we got securities license with US Life actually. And then it was really a volume business, a client-building business. We always tried to act as a firm and share resources. We were small, but like a lot of people, we started out selling A shares and B shares and C shares, doing financial planning, selling insurance, and then we made a lot of really good hires along the way. And then after 30 years at Northwestern Mutual, which was a great experience for me, and I have nothing but respect for the institution and certainly the advisors that are there, Kevin certainly was one of them, and I know he feels the same way, but we just wanted to have a little more flexibility. We went independent about 11, almost 12 years ago. We wanted to be able to be multi-custodial. We wanted to have a little bit more optionality for our clients and for ourselves. We left Northwestern at three billion or so in assets, and that was in 2015. It’s in March of 2024, I get introduced to this guy with a crazy accent named Joe Duran. Funny, probably the only person in the industry that had no idea who Joe Duran was me. I’d never heard of Joe Duran. I don’t pay attention. I worry about our firm. I don’t worry about what’s going on outside. So I get introduced to Joe by a mutual friend, and we had an interesting conversation, and it took us probably about four or five months to figure out what we wanted to do. And then in August of ’24, myself and my three partners, we rolled in. And then in ’85, the rest of the firm rolled in. And we can talk a little bit more about that. Today we’re 18-plus billion, growing quite a bit. We’ve been very lucky that we’ve made some very good decisions along the way. We’ve made some bad ones too. But most of the decisions had to do with the people that we hired, the people that we brought on to help us, because I think it’s really important. I always say that the biggest mistake advisors make is they buy their own bullshit, and I try not to, and I realize that I’m smart enough, but I’m certainly not the smartest guy. I’m rarely the smartest guy in the room. So what we try to do is hire lots and lots of really smart people. And we’ve done that. They’ve been loyal to us, we’ve been loyal to them. Yeah, so we’re blessed to have a really great team and lots of good partners. Yeah. Louis Diamond: Yeah, we’ll definitely get into more of the nuts and bolts of the decision to take on capital, partner with Joe Duran’s Rise, but that’s an amazing background. Andy, I have to give you credit because your style, and I think I’m sure there’s business benefits, but it comes from a good place, I’m sure. But the coaching and consulting and just assistance that I’ve heard you provide to so many past and current Northwestern Mutual advisors through sports camps is absolutely incredible. It’s very near and dear to my heart because we always try to lead with education and helping people. So I just wanted to call that out, that your reputation for just providing amazing guidance and coaching to advisors is unparalleled. Andy Schwartz: And it’s been the best part of our journey. We’ve been able to help so many people. We get way too much credit by the way. So everybody gives us way too much credit. But the way I look at it is, I’ve been able to leverage my life because I’ve been able to build a great life for myself and my family, but we’ve been able to leverage that, and that’s where the real gift is. So yeah, it’s been a joyful journey for us. Louis Diamond: Amazing. Kevin, question for you. You walked through your little bit unorthodox background to get into Northwestern. Can you talk about where your personal practice is today? And then I want to ask you about the decision to leave Northwestern and sell and team up with Andy and team. Kevin Spahn: Well, I have to go back to the beginning. What was attractive to me about this business is I went from a career which was confrontational adversarial. I was a trial attorney for six years, and every day I would fight with people over things I didn’t necessarily have a personal interest in and I didn’t really believe in always. But the adversarial confrontational nature wasn’t really my personality, and I would take it too personally. So sometimes I’d go home in a bad mood because I was fighting with somebody taking a deposition. At night, after so many years as a trial attorney, I started going to people’s houses and doing wills and trusts. And that’s where the dynamic of working with a client or a potential client, feeling that you helped them and walking out of the meeting where they would appreciate what you did for them, and you build a relationship and actually all of a sudden have a friend, that dynamic was attractive to me. That’s really what got me to transition into the business. So I think it was really helpful to me at the beginning of this career. As Andy said, we all grew our businesses one client at a time. There’s a lot of doors closed, phones hung up on. There’s many people that don’t want to talk to you. There’s many people that don’t call you back. There’s many people that you think you’re getting somewhere with and you don’t. And that’s difficult for people because people often, young reps take that as personal rejection. I had the benefit of comparing what I was dealing with as a young financial planner to what I had dealt with as an attorney in litigation. I think it just was perspective that I knew I didn’t want to do that anymore. So the negatives to this business didn’t seem that bad to me. I loved the independence. I loved all the relationships that I was building. And that part of it is to this day my favorite part of the business. When you ask about the present, what basically happens is you start out taking anybody and everybody as a potential client or as someone that you would be willing to work with. And then over time you work with more successful people. So where I’m at today is working with pretty successful people, but they’re all the same, meaning we like working with nice people. If people are nice, we work with them. I feel we can help anybody. Over the years, one client at a time. The thing that I probably, if I could go back, would change is I think Andy and I are both good at meeting people and building trust and providing value, so that’s why they work with us. So I think that’s just something we’ve both been able to do. He’s much better than I am at building an organization. So I built an organization basically hiring people, that whenever we got too busy, I hired another person. Drawback in terms of that is, anybody that I interview I think is great, and I think they’d be great to join the organization. I like them all. In spite of that, I’ve also brought in many good people that I love. At this point, my firm has 18 people. We’re a little subset of Andy’s larger firm. I think one of the most attractive things to me about joining Andy’s firm is what Andy mentioned before: the people. As opposed to me having to build this all out myself, going independent, Andy already did that. And he has the infrastructure that would allow me to just merge right into that and not have to go through the pain of figuring all that out, which I don’t even think I’m capable of, to be honest with you. Louis Diamond: You’re probably selling yourself short because the way I understood it, you had one of the top practices within the entire Northwestern Mutual systems, and it’s a firm filled with very successful advisors. For you, Kevin, what was the driving force to leaving NM after all these years? What was bothering you or frustrating you that indicated to you that it was time to do something different? Kevin Spahn: To be honest with you, I was pretty happy at Northwestern Mutual. I love the company and the people. I still have many good friends there that I truly miss. The big thing for me, I don’t know if it was any one thing, to be honest with you, is Andy said there’s optionality, especially on the investment side. I think one of the things that happened to me is, when I first started, I was 31 years old, and most of the potential clients that I would meet and work with, they weren’t what I would call today great investment clients. They didn’t have a lot of money. They had great futures. They might’ve been earning significant income or on the way to earning significant income. So what did they need at that point in their life? They needed planning. They needed protection. They didn’t really need investment management because most of their investments were going into their 401(k). But a lot of those clients that we would take on, and I think that’s the big advantage of Northwestern Mutual, you take on clients that a lot of the investor firms don’t want because they don’t have large investment portfolios. But at some point down the road, all of a sudden you wake up and they do have large investment portfolios. So you bring them in as clients that might buy life insurance from you or disability insurance or something like that. And then you help them, and you give them advice, and you build a relationship with them. Down the road, they make more and more money. They leave jobs, they roll 401(k)s, they have the ability to invest money, stock options, things like that. Next thing you’re doing more comprehensive planning that incorporates investments. As that progresses even further, you work with larger and larger clients, much more significant net worth, more complexity, bigger tax issues. Some of the strategies and opportunities that we now have at this independent RIA are very attractive for these high-net-worth clients. Along the same lines, less of what I do at this point in my career is insurance, mostly because a lot of the people that I meet are older, they already bought insurance, they’re looking more for investment advice as opposed to insurance. So one of the things that most attracted me to Northwest Mutual was their strong insurance products, which helped me for many years. As time went on, I was doing less of that. Louis Diamond: Makes complete sense. So it was a changing of what clients wanted and just the circumstances of your clients where you said, “What got me here when I was 31 was insurance planning, and that’s what my clients needed. But as my practice has evolved, I’ve aged, my clients are older, have more money, the focus shifted from insurance to investments.” And then the distinction was, am I at the best place to run investments in addition to insurance planning, et cetera? It’s a very interesting dynamic. Just the shift in basically your legacy clients was what drove you to consider change. Kevin Spahn: That was a big factor. I think the second big factor was I had my own firm with 18 people. My succession plan was that at some point I would shift ownership of the firm to people that worked with me. So as they owned more of the firm, they would have revenue that was currently at the time being paid to me. In my mind, as it shifted to them, they would buy me out using revenue from the clients that we already had. And I realized that there were some issues with that. In our business, as you get older, in your client’s age, they start taking money out of their portfolios. So everyone understands that in our business, the younger average age client you have makes your book more valuable. I was the biggest driver of new business at my firm, and I started to see that there were some problems with my succession plan. They included, if something happened to me during this succession, that would be a real problem for the people that were buying my business from me if I went that way. If something happened to some of my key people, that would’ve been a problem as well. So it was really attractive to me to… I wasn’t looking to sell my business, I was looking to merge it. So I merged it with Andy’s business. I believe that Andy and what he’s put together and the actual idea of having partners. So I never really had partners, but now I do. Having partners that we’re all on the same page, we all have similar backgrounds, we all bring something different to the table, and we can learn and benefit from working with each other. But also, owning a little piece of a much larger firm was, number one, it put me in a better position in terms of the potential risk of something happening to me or one of my key people. But secondly, I just think it’s more likely to grow at a greater pace than my firm would’ve as I aged from my 60s to my 70s. Louis Diamond: Very interesting. It’s a great realization. I think it’s one that probably every firm owner grapples with at some point, is the romanticism or the ease, some would say, of an internal succession plan. Rewarding those who have helped you build the firm is something I think everyone is interested in. But once that’s put into practice, whether it’s because of capital or sky-high valuations or right people on the bus or risk, et cetera, nowadays oftentimes leads to a firm owner looking at a transaction, whether it’s a merger, a sale, a private equity, capital infusion as a means to solve for succession. So it’s a very interesting way you framed it. Andy, I want to turn it over to you for a little bit. So you mentioned when you launched Bleakley Financial, which was the old name of your firm, out of Northwestern, you’re about three billion. I think I read that you’re about 10 billion or so when Joe Duran and Rise invested you in 2024. You just said you’re at 18 billion now in the middle of 2026. That is absolutely incredible and amazing. Andy Schwartz: We’ll be well over 20 by the end of the year without any additional organic growth. Louis Diamond: That’s absolutely incredible. Andy Schwartz: We’ve got a lot going on right now. Louis Diamond: What’s actually driven that? What’s been the playbook? Andy Schwartz: The three areas that are most important for us, and we had our town hall this morning, and we always talk about the things we focus on as a group, the first and most important is the client experience. I always say to people, if you are their advisor, then that means someone else isn’t. These people, they all deserve to be really well taken care of. They deserve the best service, they deserve the best advice. So that’s something we take really personally. So client experience first. Then we also understand that we don’t just work for clients, we work for our advisors. So I have two jobs. I have, I don’t know, 500 clients I service with my team, and I work for Kevin and 36 other partners and all of our employees. Because again, I recognize that the decision Kevin made… We’re in the middle of a transition out with another advisor, and we pretty much talk to her every day, and I know how hard this is. A transition is so difficult. When you come from a good place, because any of the Northwestern advisor who joins, they’re coming from a good place, it’s not like they have to go anywhere, it’s difficult. So we have the massive responsibility that three or four or five or 10 years from now, that there better be hugs around that this was the best decision ever made or otherwise. That’s the kind of thing that keeps me up at night. So we’ve got to take care of our client experience, we’ve got to take care of our advisor experience. And then obviously, we’ve got to grow the firm so the firm grows organically. So part of this whole idea of serving our advisors is we have to help our advisors grow. I talk to a lot of people on the acquisition side, and if I’m talking to an advisor, it doesn’t matter how big they are, we kind of think of it as a OnePoint way. There’s flexibility in the OnePoint way. But if I can’t help them grow, I don’t want them, because I say it all the time, I’m not the mafia. I’m not here to get a taste. Louis, if you weren’t interested in joining us, if I thought that we could help you grow by doing that, then I want you bad. If I don’t think I can help you grow because we’re so different, or because you’re not going to adapt what we do, or there’s no leverage in it, or you’re already better than we are, I don’t want it. So for us, organic growth, number one, and I think you know the industries well enough, that’s got to be the key. We shoot for 10% organic growth. We’re at a little over 5% so far halfway through the year. So assuming we have the similar second half of the year, we’ll hit our 10. Last year we’re at 7.5%. The second is the inorganic growth. If you truly build a platform, if you truly build a firm that advisors know that they’ll be supported, that they’ll be loved, and you’ll help them grow their businesses, it does make it easier for us. We’re not the highest bidder typically. We can’t. We respect our client’s capital, we respect their equity, so therefore we’re not going to go out there. We’re not an aggregator, we’re a firm. But I think that if we can get that message across, and I think we have, then advisors join us. So that’s been a big part of the growth. And then the market’s helped. Obviously, over the last two years, the market’s been helpful. So that’s how we’ve gone from 10 to 18 and on our way to 22 by year-end. Louis Diamond: This is absolutely incredible. Any advisor or firm owner would say organic growth is important, but just saying it’s important doesn’t mean it’s going to happen. So what are the ways in which you help your advisors or your own practice grow organically? What is it that OnePoint is doing for your advisors? Andy Schwartz: Starting with bringing on growth-oriented advisors. I mean, look, Kevin Spahn and I come from the same place. We learned how to sell. The great thing about coming out of whether they’re broker dealers or out of the different insurance BDs is, these are people that know how to sell. These are people that don’t think that selling is a bad word. A lot of times you go to the wirehouses and they’re not necessarily sales guys. They’re really smart. They think that they’re investment mavens and investment geniuses. I’m not interested in investment geniuses. I’m interested in people that want to take care of their clients, provide everything they can, clients first, do the proper planning, be good advisors, but they’re growth-oriented. So as long as we’re talking with the right advisors. Again, if I’m talking to advisor and they might have a big practice, if they’re not growers, we’re not interested. There’s a sense of responsibility for all the partners because we are a true partnership. It’s not an aggregation. This is a firm. I’m responsible for Kevin. Kevin’s responsible to me. All of our partners are responsible to each other, because if we’re going to do a 10% organic growth target, and if some partner is negative 3%, we don’t put them through the spanking machine, but everybody is very aware of where everybody is and nobody wants to let their partners down. I think either you’re a growth-oriented advisor or you’re a zoo-fed bear. There’s another expression that I got from another Rise Growth Partner or Rise Growth firm. We all kind of communicate and talk to each other. And I was talking about zoo-fed bears, and he said, we call them house cats that think they fight. So they’re house cats, but they have no claws. But I think if you’re careful about who you bring on as partners, and if they are workers, growers, they understand that their job in life is to serve the people. We talk about referrals, we do lots of training to help on referrals. We work on organic growth strategies from the firm, but a lot of it comes from the advisors themselves. Louis Diamond: Makes sense. So it sounds like, to boil it down, it’s being really selective and having a really clear sense of who’s the right fit for your firm. Not that there’s not amazing advisors out there, but just because you’re an amazing advisor, doesn’t mean you’re the right fit to join OnePoint. Andy Schwartz: I think the one big distinction and difference is other than the fact that we are minority-owned with private equity. So we own our business. I mean, I’m the CEO of the firm. I also have the biggest book in the firm. At least for right now, I mean, Kevin was transitioning, so I’m sure next year he’ll be the leading advisor. But I lead the firm, because as far as I’m concerned, you have to lead by example. We are completely aligned. I know exactly what Kevin does every day because I do the same thing. I’m not some attorney or accountant or private equity boss that’s saying, “Oh, I’ve got an idea for growth. We’ll just raise our fees by 5%.” Brilliant. Yeah, we are completely aligned, all of us. I think that makes us a little bit unique, and it really helps us, I think, in our growth trajectory. Louis Diamond: I would agree. The challenge that a lot of advisors-turned-firm-owners or turned-enterprise-builders have is the tug of war between the client work, which either is their ultimate passion and driving force, or it’s something they’re really good at minimum, versus being the owner, the operator, et cetera. I resonate very much, Andy, with the way you handle it. I do the same thing running a company, but also working with advisors. To me, I need to do both in order to do my job well. But that tug of war is tough. So I’m curious, your firm is very large now, you’re a steward of external capital, and you have a $3 billion book yourself. How do you do it? How do you balance the two? Andy Schwartz: Well, fortunately, my kids are grown, so I’m not coaching sports anymore. So I do have a little more time than most. Look, we have a great team. So the idea that I run the firm… I mean, I lead the firm, I don’t run the firm. We have great partners. We have great… Our manager team is fantastic. So I mean, they really run the firm. But this is where my passion is for now. So I don’t mind. Days are typically pretty long. I don’t play golf during the week. Mara and I don’t travel probably as much as we should. Vacations are always a little bit mixed. There’s always room for calls and meetings and whatever. But to me, I mean, I’m grateful to be in this situation. I’m enjoying it. This is such a privilege to be the person that people recognize as the leader of this bunch, of this group. I mean, it is the honor of my life. So I don’t think of it so much as work. It’s my advocation. It does get busy. There are some times where I have to remind myself, “Just enjoy the ride.” I get a little overwhelmed, but I get lots of help and that makes it possible. Louis Diamond: Yep. If you’re not doing the job of the folks that you’re encouraging and leading to do, how do you have fodder to train them, to teach them, to empathize with that? Andy Schwartz: Exactly, you don’t have the credibility. I can ask them to do almost anything because they know I do it myself, and I think that helps. Louis Diamond: Yep. So moving more into the decision to bring on private equity capital, what I thought was probably the most interesting component of your announcement that you took on PE investment was that you completely restructured or reoriented your firm prior to Joe Duran coming in 2024. Correct me if I’m wrong, but Bleakley Financial Group was almost all 1099 contractors. So everyone owned their own books of business, paid Bleakley a fee or an override for certain services. But now, today, over 85% of your advisors and your AUM are W-2 employees, meaning you converted them from 1099 to acquiring them or merging with them. To me, that’s the dream. It’s had to have been very, very, very hard and challenging because there’s so many aggregator firms or platforms that support independent advisors, but the value that they’ve created is fairly minimal relative to one cohesive firm. So can you just talk about that decision, a very big and brave decision to go down the path of acquiring or merging with the practices rather than letting them continue to operate independently? Andy Schwartz: Well, look, we had to… It’s funny because we had been having conversations for years with consultants, and they kept telling us what we had to do. Again, we’re not that smart, so we just kept thinking, “No, we don’t have to do that.” But we were told 10 years earlier that the only way that this thing has any value to the world is you’ve got to have EBITDA for the firm. We talked to all the smart people, we ignored all of them. But what happened was we needed capital and we needed equity in order to bring people on, because people aren’t just joining us just because we can help them grow a bigger business. So the reason we went in the direction we went initially was we just needed capital. We wanted to grow the firm, and the only way we were going to get to is… What’s the old saying? What got us here is not going to get us there. So we needed capital. But we also realized that I had to have something I could sell in the marketplace. And people want equity. So they want cash, but they also want equity, because we’re talking to entrepreneurs. Kevin owned his own firm. He has $2 billion of assets. He wasn’t interested in being someone’s employee, but he was interested in being able to get leverage and be a partner and share equity in a larger firm that had the chance to grow even more. So what the gift that Joe Duran, the Rise folks gave us was that gift of structure and understanding. So that was really helpful, and that’s been a big part of our success. Louis Diamond: Yeah, it’s an amazing journey. Again, I think you could probably write a book or a case study on how that happened. I’m sure there were some downfalls, some people that weren’t all that excited about it, but the results speak for itself. Andy Schwartz: I think people ask all the time because I do get phone calls. People are trying to do this, and they’re struggling. It took us 90 days to basically do it. People say, “I’ve been at this for two years.” And the biggest issue is trust. Either they trust you or they don’t. At the end of the day, I always went to the advisor here, we were a firm for 30-plus years prior, and these guys knew that we always did what we said we were going to do, and we always did. If your people trust you, then you can do it. If your people don’t trust you, it isn’t going to work. Louis Diamond: In other words, your firm added immense value to the advisors as well. Aside from trust, if you weren’t providing a service or services that they found a value that they couldn’t access on their own, it would’ve been 85/15 going the other way for sure. Andy Schwartz: Yeah, 100%. I know it’s not easy, but it wasn’t that hard for us. Louis Diamond: Good. It’s well-earned. So I believe you were Rise Growth Partners’ first investment. Andy Schwartz: We were. Louis Diamond: That’s cool. It’s exciting. You get to be someone’s first, but did it make you uncomfortable that you were the first investment or did you see that as a positive? Andy Schwartz: I actually saw it as a positive. Well, one, because I recognized immediately that Joe Duran and his team were way smarter than we were certainly, and certainly with what we were trying to do. And I figured that it’s almost like the first child. They were so excited to have somebody, and there was so much time and energy, so they just really doted on us. They were really able to help us. Now they’ve got four or five groups that they work with, and obviously we’ve been launched. So the younger babies are getting more time and attention, although we get everything that we need from them. But yeah, that never concerned me. I always thought that would be our advantage. It actually turned out that way. Louis Diamond: Interesting. In thinking through a sale or a minority sale, did you entertain other types of capital, whether it was a family office or a multitude of other private equity sponsors or selling the firm outright? Andy Schwartz: Yeah, we probably had four or five very, very serious conversations. Actually, some got pretty close to the end where we basically just made the decision not to do it. One was a much larger firm, good people. But the problem always was… I was always going to get rich out of the deal because it was going to be 100% sale, but there was really no lift or leverage from the advisors. So the principals, they were willing to pay me a big multiple and my partners a big multiple, and pay these guys basically an average multiple. So we had always told our guys, “Let’s stay together, and someday, this thing, whatever it’s going to turn into be, will benefit everyone.” So with the Duran situation and the deal with Rise did, it gave everybody a chance to benefit from what we were doing. But what was good about all of those false starts was, it taught me a lot because I had… I know you’re involved in this, so you know better than I do, but we’d start conversations, somebody would reach out to me, I would be very specific about what I needed. They would say, “Yep, we can do that.” And then you get to the finish line, and it’s almost like, I started out, I wanted a tomahawk steak and a baked potato, and I ended up getting a two-day-old hamburger with some cold French fries. It’s like, I know I’m not that smart and I know you’re the PE guys, but for God’s sakes, we’re not stupid. So it was funny because in January of ’24, I told my partners, “I don’t want to have any more of these conversations. It was a waste of time and energy. I’m sick of talking to these people. Let’s just put our heads down, and then let’s grow the firm a little bit more, and then we’ll see what the world looks like.” And then I get introduced to Duran. Louis Diamond: Perfect. Makes sense. Yeah, so you were well-educated on the market, the types of buyers, and I always say it’s almost more important to understand what you don’t want more than what you do want. The only way oftentimes to understand what you don’t want is to experience it and touch and feel it and really get into the weeds on it. I like too, Andy, I saw in an article, you said that “we’re private equity invested, we’re not private equity owned,” which is a very cool dynamic. I could imagine why that was important to you to retain majority control. Kevin, I want to bring you back into the conversation. Thank you for being patient here. But I mean, I would imagine you had some real choices. I mean, you could have stayed at Northwestern and been very successful, gone through with your internal succession plan. You could have gone to an independent BD, monetized, figured out succession later. You could have sold the business to a strategic acquirer. You were big enough to take on an investor in some capacity on your own. So options wasn’t your problem. Maybe just walk us through. Did you consider any other pathways? And what were the pros and cons in your mind that led you to doing a transaction with Andy? Kevin Spahn: I’m a little different, I think, than most people in this industry. Even as you grow your business at a certain percentage, none of that stuff has ever really meant anything to me. All I know is I like what I do. So when I came into the business, because I like it, I enjoy it, I spend time doing it, I’ve tried to get better at it. But it comes naturally because it’s something that I don’t look at Monday mornings as, “Oh, no, it’s Monday morning.” I’m excited to go to work. My entire career, once I left law, my business has just grown over the years naturally. But you said something before, Louis, and I think this applies to me. I love to work with the clients. I don’t like what I have to do in terms of running the firm. I never have. It’s never been my cup of tea, but you have to do it if you run a firm. So number one, the thought of all the due diligence that I would have to do to research all the firms out there, I wasn’t really all that interested in doing that. At the end of the day, it comes down to this word trust. I trust Andy. I trust the other partners here too, because I’ve known not just Andy, but I’ve known Scott and many of the other partners for years. So I knew what I was getting myself into. At the end of the day, I knew what they built. I was very comfortable with it, and I was either going to stay at Northwestern Mutual or I was going to come here, but I wasn’t going to go anywhere else. I will say, since I’ve gone, it’s been exactly like I thought. I thought I trusted Andy. And if something happened along the way with the transition, everything that he said has been true, thing that he promised is real. As you deal with more complexities with a bigger book and more and more employees, I knew that I was almost at the breaking point in terms of my own organization and to merge into this organization that, as I said before, he’s already built out. I don’t have to do it. And to benefit from these great people that he has as part of his organization, that’s all been a real blessing for me and my team. So I didn’t shop the marketplace really, but I knew what I was getting into, and it’s worked out clear as I thought it would. Louis Diamond: That’s amazing. I think that’s what most people would covet. But it is a decision in and of itself to not shop the marketplace. I mean, from representing buyers or prospective buyers, I know the pricing leverage or the negotiation leverage and the valuation lift that comes from having an open market, having multiple bids, et cetera. It sounds like that wasn’t the… Obviously you wanted to get fair value for your firm, but for you, it was more, it’s trust, “I’m either going to just stay at Northwestern, which is the devil I know or it’s what I’ve known where I’ve been successful, or I’m going to go to the individual that I trust and forget about all the other noise.” Kevin Spahn: Well, Andy says things, but I know they’re true because I’ve seen him at work. I’ve seen how he’s acted. I’ve seen how he interacts with people. But here’s an example. He cares about the people that are at his firm. He says that, but I know it’s true because I see it. I’m the same. I really care about the people in my firm. So as I think about, well, what about the future of two groups, my clients, but also the people that work in my firm? They’re going to be around long after I am. Well, I don’t want myself to retire someday, get a big check, because there’s all sorts of options to get a check. If I get a check and then my client’s scatter to the wind, and my employees don’t really have a future and they just have to go and find their own way, that wasn’t attractive at all to me. So one of the things that I really appreciate about this opportunity is that there is a plan for both my clients and my employees or the younger team members at formerly Spahn Financial, where I feel very good about the fact that they have a solid, secure future in an industry that they’ve all grown to love without them having to go out and make their own way. Louis Diamond: Makes sense to me. We noted a couple of times in this interview, you talked about equity, partnership, both of you have. So Kevin, for you, what did it mean differently for you to become a partner and get equity in a larger firm rather than, we’ll say, the less risky move of just taking everything in cash? Why was that an important distinction for you? Kevin Spahn: For many years, when I left law and came into this business, I didn’t have any money at the time. I was just starting to make money as a lawyer. It takes a while. I started low. I got trial experience working for the government, so they didn’t pay much. That was three years. Then I was at a firm, and I was just starting to make more money. Then I made this big shift into a career tha

Credits: 0.75 AMA PRA Category 1 Credit™   CME/CE Information and Claim Credit: https://www.pri-med.com/online-education/podcast/frankly-speaking-cme-500 Overview: To celebrate our 500th episode, each member of our team revisits a popular topic from the podcast's earlier installments—GLP-1s, cervical and breast cancer screening, diet and exercise, contraception, hypertension, and lipid management—to trace how the evidence and guidelines have changed since it was first covered. Whether you're catching up or reinforcing what you know, this milestone episode helps you bring the latest evidence into everyday patient care. Guest: Robert Baldor, MD, Alan Ehrlich, MD, Susan Feeney, DNP, FNP-BC; FAANP, Jillian Joseph, PA, Mariyan L. Montaque, DNP, FNP-BC, Jill Terrien PhD, ANP-BC, FAAN   Music Credit: Matthew Bugos Thoughts? Suggestions? Email us at FranklySpeaking@pri-med.com  Episode resource links:  Zhou H et al.  Evaluation and Comparison of the PREVENT and Pooled Cohort Equations for 10‐Year Atherosclerotic Cardiovascular Risk Prediction. Journal of the American Heart Association Volume 14, Number 4 Goff DC et al. 2013 ACC/AHA guideline on the assessment of cardiovascular risk: a report of the American College of Cardiology/American Heart Association task force on practice guidelines. Circulation. 2014;129:S49–S73. Circulation. 2018 Jul 24;138(4):345-355.  eClinicalMedicine 2025: 103741. Curry, J. (2018). Screening for cervical cancer: US Preventive Services Task Force Recommendation Statement. JAMA.320(7):674-686. doi:10.1001/jama.2018.10897 https://www.ncbi.nlm.nih.gov/pubmed/30140884  Perkins RB, Wolf AMD, Church TR, et al. Self-collected vaginal specimens for human papillomavirus testing and guidance on screening exit: An update to the American Cancer Society cervical cancer screening guideline. 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JAMA. 2024;331(22):1918–1930.  Trentham-Dietz A, Chapman CH, Jayasekera J, et al. Collaborative modeling to compare different breast cancer screening strategies: a decision analysis for the US Preventive Services Task Force. JAMA. 2024;331(22):1931–1946. Giaquinto AN, Sung H, Miller KD, et al. Breast cancer statistics, 2022. CA Cancer J Clin. 2022;72(6):524–541.  Qaseem A, Harrod CS, Balk EM, et al. Screening for breast cancer in asymptomatic, average-risk adult females: a guidance statement from the American College of Physicians (Version 2). Ann Intern Med. 2026.:  American Cancer Society. Breast Cancer Facts & Figures 2022–2024. Atlanta, GA: American Cancer Society, 2022.  Hu X, Chehal PK, Kaplan C, et al. Racial differences in patient-reported symptoms and adherence to adjuvant endocrine therapy among women with early-stage, hormone receptor-positive breast cancer. JAMA Netw Open. 2022;5(8):e2225485.  Torres JM, Sodipo MO, Hopkins MF, Chandler PD, Warner ET. Racial differences in breast cancer survival between Black and White women according to tumor subtype: a systematic review and meta-analysis. J Clin Oncol. 2024;42(35):4225–4234.  Bailey ZD, Krieger N, Agénor M, Graves J, Linos N, Bassett MT. Structural racism and health inequities in the USA: evidence and interventions. Lancet. 2017;389(10077):1453–1463. Hypertension. 2026;83:00–00. DOI: 10.1161/HYPERTENSIONAHA.125.25787 Allen RH, Bartz D. Opill: The Over-the-Counter Contraceptive Pill. Obstet Gynecol. 2024;143(2):184-188. doi:10.1097/AOG.0000000000005455  Cahill EP, Kaur S. Advances in contraception research and development. Curr Opin Obstet Gynecol. 2020;32(6):393-398. doi:10.1097/GCO.0000000000000666  Charles DN, Nagarsheth M, Oshman L. Pain Management for IUD Insertion in Primary Care. Am Fam Physician. 2025;111(4):299-301.  Chen, C., Strasser, J., Banawa, R., Luo, Q., Bodas, M., Castruccio-Prince, C., Das, K., & Pittman, P. (2022). Who is providing contraception care in the United States? An observational study of the contraception workforce. American journal of obstetrics and gynecology, 226(2), 232.e1–232.e11. https://doi.org/10.1016/j.ajog.2021.08.015  Diedrich,J., Klein, D. Peipert, J.(2017). Long-acting reversible contraception in adolescents: a systematic review and meta-analysis, Am J Ob Gyn, April 2017. http://dx.doi.org/10.1016/j.ajog.2016.12.024  Li RHW, Lo SST, Gemzell-Danielsson K, Fong CHY, Ho PC, Ng EHY. Oral emergency contraception with levonorgestrel plus piroxicam: a randomised double-blind placebo-controlled trial. Lancet. 2023;402(10405):851-858. doi:10.1016/S0140-6736(23)01240-0  Mørch LS, Meaidi A, Corn G, Hargreave M, Wessel Skovlund C. Breast Cancer in Users of Levonorgestrel-Releasing Intrauterine Systems. JAMA. 2024;332(18):1578–1580. doi:10.1001/jama.2024.18575  Nguyen AT, Curtis KM, Tepper NK, et al. U.S. Medical Eligibility Criteria for Contraceptive Use, 2024. MMWR Recomm Rep. 2024;73(4):1-126. Published 2024 Aug 8. doi:10.15585/mmwr.rr7304a1  Paradise SL, Landis CA, Klein DA. Evidence Based Contraception: Common Questions and Answers. American Family Physician. 2022. https://www.aafp.org/afp/2022/0900/contraception The views expressed in this podcast are those of Dr. Domino and his guests and do not necessarily reflect the views of Pri-Med.

VOV1 - Trong lịch sử dân tộc và trong tâm thức của người Việt, Hoàng Sa, Trường Sa luôn là phần máu thịt không thể tách rời của đất mẹ Tổ quốc, và luôn được khắc ghi trong trái tim những người dân Việt Nam.Những chứng tích lịch sử để lại đến hôm nay như Mộc bản, Châu bản triều Nguyễn, các bộ sử như Đại Nam thực lục, Đại Nam nhất thống chí, hay câu chuyện về đội Hoàng Sa, đội Bắc Hải thuộc triều Nguyễn là những chứng cứ lịch sử rõ ràng, khẳng định quá trình xác lập và thực thi chủ quyền của Việt Nam đối với hai quần đảo Trường Sa và Hoàng Sa. Chuyên mục Tìm hiểu biển đảo Việt Nam hôm nay, chúng ta cùng nhìn lại những chứng tích ấy để có thêm nhận thức sâu sắc hơn về chủ quyền biển đảo, giữ gìn và tiếp nối truyền thống cha ông bảo vệ vững chắc từng tấc đảo sải biển, phần máu thịt thiêng liêng của Tổ quốc ngoài khơi xa. Những chứng cứ lịch sử xác lập và thực thi chủ quyền của Việt Nam tại Hoàng Sa, Trường SaTừ nhiều thế kỷ trước, người Việt đã vượt biển ra những vùng biển đảo xa xôi Hoàng Sa, Trường Sa. Theo các tư liệu lịch sử, từ khoảng thế kỷ XVII, chính quyền các chúa Nguyễn đã tổ chức Đội Hoàng Sa, tuyển người ở vùng ven biển Quảng Ngãi, trong đó có cư dân đảo Lý Sơn. Đội gồm khoảng 70 suất đinh, được giao nhiệm vụ ra Hoàng Sa theo mùa.Điều đáng nói là hoạt động ấy diễn ra trong điều kiện hết sức khắc nghiệt. Những chiếc thuyền nhỏ, phương tiện định vị và thông tin liên lạc còn rất thô sơ, trong khi vùng biển Hoàng Sa nổi tiếng với những dòng hải lưu phức tạp, bão tố và đá ngầm. Những chuyến đi kéo dài nhiều tháng, thường từ tháng 3 đến tháng 8 âm lịch.Trong đời sống dân gian ở Lý Sơn, ký ức về những người đi Hoàng Sa đã được lưu giữ qua nhiều thế hệ. Lễ khao lề thế lính Hoàng Sa là một biểu hiện rõ nét của ký ức ấy.Lễ khao lề thế lính Hoàng Sa là lễ thức dân gian gắn liền với quá trình hình thành và hoạt động của đội Hoàng Sa kiêm quản Bắc Hải năm xưa. Nghi lễ này nhằm tưởng nhớ công lao của các hùng binh Hoàng Sa đã vâng lệnh triều đình ra quần đảo Hoàng Sa, Trường Sa cắm mốc, khẳng định chủ quyền, khai thác sản vật. Nhiều người đã mãi mãi nằm lại giữa biển khơi, để lại niềm tiếc thương cho quê hương.Từ đội hùng binh Hoàng Sa đến ngư dân bám biển hôm nayHàng trăm năm trước, từ đảo Lý Sơn, những chiến binh trong đội Hoàng Sa, được lựa chọn từ những ngư dân vùng biển Quảng Ngãi đã vượt sóng ra Hoàng Sa trong những chuyến đi mà họ biết trước có thể không trở về.Từ những người lính Hoàng Sa năm xưa đến ngư dân Lý Sơn hôm nay có một khoảng cách hàng trăm năm, điều kiện lịch sử cũng hoàn toàn khác nhau. Nhưng có một điểm nối đáng chú ý: đó là ý chí kiên cường, vượt muôn trùng sóng gió để vươn khơi bám biển, vừa mưu sinh, vừa bảo vệ chủ quyền của Tổ quốc.Những người trong Đội Hoàng Sa năm xưa đã để lại cho hôm nay một di sản không chỉ bằng những trang tư liệu, mà bằng ký ức về những con người đã vượt sóng ra biển. Ngư dân hôm nay đang tiếp nối truyền thống lịch sử ấy bằng những chuyến tàu ra khơi với quyết tâm và ý thức tạo dựng một nền kinh tế biển mạnh, một cộng đồng cư dân biển bền vững và một Việt Nam thực sự làm chủ không gian biển của mình, trở thành quốc gia biển mạnh như tinh thần Nghị quyết 20 Hội Nghị Trung ương 3./.Thuyền bầu của đội Hoàng Sa thế kỷ thứ XVII-XVIIILễ khao lề thế lính Hoàng Sa ở đặc khu Lý Sơn.

After more than 260 episodes talking about the bar business, there's one story I probably should have told a long time ago: how I actually became a bar owner and learned to run one.In this episode, I sit down with Brian Haan, my longtime friend, former roommate, and the GM who was there throughout my journey in the bar business, to finally start telling that story from the beginning.We get into how Brian and I met at Purdue, why I bought an established neighborhood pub at 22, how Brian ended up becoming my GM, and what those early years taught us about regulars, employees, operations, weekly P&Ls, product decisions, and knowing when to change something, and when to leave what's already working alone.Because most of what I know about the bar business didn't come from having all the answers. It came from running the business, watching the numbers, making mistakes, adapting, and figuring it out together. 

Credits: 0.75 AMA PRA Category 1 Credit™   CME/CE Information and Claim Credit: https://www.pri-med.com/online-education/podcast/frankly-speaking-cme-500 Overview: To celebrate our 500th episode, each member of our team revisits a popular topic from the podcast's earlier installments—GLP-1s, cervical and breast cancer screening, diet and exercise, contraception, hypertension, and lipid management—to trace how the evidence and guidelines have changed since it was first covered. Whether you're catching up or reinforcing what you know, this milestone episode helps you bring the latest evidence into everyday patient care. Guest: Robert Baldor, MD, Alan Ehrlich, MD, Susan Feeney, DNP, FNP-BC; FAANP, Jillian Joseph, PA, Mariyan L. Montaque, DNP, FNP-BC, Jill Terrien PhD, ANP-BC, FAAN   Music Credit: Matthew Bugos Thoughts? Suggestions? Email us at FranklySpeaking@pri-med.com  Episode resource links:  Zhou H et al.  Evaluation and Comparison of the PREVENT and Pooled Cohort Equations for 10‐Year Atherosclerotic Cardiovascular Risk Prediction. Journal of the American Heart Association Volume 14, Number 4 Goff DC et al. 2013 ACC/AHA guideline on the assessment of cardiovascular risk: a report of the American College of Cardiology/American Heart Association task force on practice guidelines. Circulation. 2014;129:S49–S73. Circulation. 2018 Jul 24;138(4):345-355.  eClinicalMedicine 2025: 103741. Curry, J. (2018). Screening for cervical cancer: US Preventive Services Task Force Recommendation Statement. JAMA.320(7):674-686. doi:10.1001/jama.2018.10897 https://www.ncbi.nlm.nih.gov/pubmed/30140884  Perkins RB, Wolf AMD, Church TR, et al. Self-collected vaginal specimens for human papillomavirus testing and guidance on screening exit: An update to the American Cancer Society cervical cancer screening guideline. CA Cancer J Clin. 2026;e70041. doi:10.3322/caac.70041   Screening for Cervical Cancer (2026). Obstetrics & Gynecology, 148(1), e63-e67. https://doi.org/10.1097/AOG.0000000000006257  Jad Zeitouni, Nosayaba Osazuwa-Peters, Yusuf Dundar, Gregory Zimet, Mark A. Varvares. (2025). Two decades of the HPV vaccine: its promise, progress, prospects, projections, and posterity, The Lancet Regional Health - Americas, (51), https://doi.org/10.1016/j.lana.2025.101243 Diabetes, Obesity and Metabolism 28, no. 6 (2026): 5043–5057, https://doi.org/10.1111/dom.70698.  Relationship of early rapid weight loss to efficacy and safety of tirzepatide and semaglutide for obesity: SURMOUNT-5 post hoc analysis. Am J Med. 2026 Jul;139(7):913-921. doi: 10.1016/j.amjmed.2026.03.010 US Preventive Services Task Force; Nicholson WK, Silverstein M, Wong JB, et al. Screening for breast cancer: US Preventive Services Task Force recommendation statement. JAMA. 2024;331(22):1918–1930.  Trentham-Dietz A, Chapman CH, Jayasekera J, et al. Collaborative modeling to compare different breast cancer screening strategies: a decision analysis for the US Preventive Services Task Force. JAMA. 2024;331(22):1931–1946. Giaquinto AN, Sung H, Miller KD, et al. Breast cancer statistics, 2022. CA Cancer J Clin. 2022;72(6):524–541.  Qaseem A, Harrod CS, Balk EM, et al. Screening for breast cancer in asymptomatic, average-risk adult females: a guidance statement from the American College of Physicians (Version 2). Ann Intern Med. 2026.:  American Cancer Society. Breast Cancer Facts & Figures 2022–2024. Atlanta, GA: American Cancer Society, 2022.  Hu X, Chehal PK, Kaplan C, et al. Racial differences in patient-reported symptoms and adherence to adjuvant endocrine therapy among women with early-stage, hormone receptor-positive breast cancer. JAMA Netw Open. 2022;5(8):e2225485.  Torres JM, Sodipo MO, Hopkins MF, Chandler PD, Warner ET. Racial differences in breast cancer survival between Black and White women according to tumor subtype: a systematic review and meta-analysis. J Clin Oncol. 2024;42(35):4225–4234.  Bailey ZD, Krieger N, Agénor M, Graves J, Linos N, Bassett MT. Structural racism and health inequities in the USA: evidence and interventions. Lancet. 2017;389(10077):1453–1463. Hypertension. 2026;83:00–00. DOI: 10.1161/HYPERTENSIONAHA.125.25787 Allen RH, Bartz D. Opill: The Over-the-Counter Contraceptive Pill. Obstet Gynecol. 2024;143(2):184-188. doi:10.1097/AOG.0000000000005455  Cahill EP, Kaur S. Advances in contraception research and development. Curr Opin Obstet Gynecol. 2020;32(6):393-398. doi:10.1097/GCO.0000000000000666  Charles DN, Nagarsheth M, Oshman L. Pain Management for IUD Insertion in Primary Care. Am Fam Physician. 2025;111(4):299-301.  Chen, C., Strasser, J., Banawa, R., Luo, Q., Bodas, M., Castruccio-Prince, C., Das, K., & Pittman, P. (2022). Who is providing contraception care in the United States? An observational study of the contraception workforce. American journal of obstetrics and gynecology, 226(2), 232.e1–232.e11. https://doi.org/10.1016/j.ajog.2021.08.015  Diedrich,J., Klein, D. Peipert, J.(2017). Long-acting reversible contraception in adolescents: a systematic review and meta-analysis, Am J Ob Gyn, April 2017. http://dx.doi.org/10.1016/j.ajog.2016.12.024  Li RHW, Lo SST, Gemzell-Danielsson K, Fong CHY, Ho PC, Ng EHY. Oral emergency contraception with levonorgestrel plus piroxicam: a randomised double-blind placebo-controlled trial. Lancet. 2023;402(10405):851-858. doi:10.1016/S0140-6736(23)01240-0  Mørch LS, Meaidi A, Corn G, Hargreave M, Wessel Skovlund C. Breast Cancer in Users of Levonorgestrel-Releasing Intrauterine Systems. JAMA. 2024;332(18):1578–1580. doi:10.1001/jama.2024.18575  Nguyen AT, Curtis KM, Tepper NK, et al. U.S. Medical Eligibility Criteria for Contraceptive Use, 2024. MMWR Recomm Rep. 2024;73(4):1-126. Published 2024 Aug 8. doi:10.15585/mmwr.rr7304a1  Paradise SL, Landis CA, Klein DA. Evidence Based Contraception: Common Questions and Answers. American Family Physician. 2022. https://www.aafp.org/afp/2022/0900/contraception The views expressed in this podcast are those of Dr. Domino and his guests and do not necessarily reflect the views of Pri-Med.

Credits: 0.75 AMA PRA Category 1 Credit™   CME/CE Information and Claim Credit: https://www.pri-med.com/online-education/podcast/frankly-speaking-cme-500 Overview: To celebrate our 500th episode, each member of our team revisits a popular topic from the podcast's earlier installments—GLP-1s, cervical and breast cancer screening, diet and exercise, contraception, hypertension, and lipid management—to trace how the evidence and guidelines have changed since it was first covered. Whether you're catching up or reinforcing what you know, this milestone episode helps you bring the latest evidence into everyday patient care. Guest: Robert Baldor, MD, Alan Ehrlich, MD, Susan Feeney, DNP, FNP-BC; FAANP, Jillian Joseph, PA, Mariyan L. Montaque, DNP, FNP-BC, Jill Terrien PhD, ANP-BC, FAAN   Music Credit: Matthew Bugos Thoughts? Suggestions? Email us at FranklySpeaking@pri-med.com  Episode resource links:  Zhou H et al.  Evaluation and Comparison of the PREVENT and Pooled Cohort Equations for 10‐Year Atherosclerotic Cardiovascular Risk Prediction. Journal of the American Heart Association Volume 14, Number 4 Goff DC et al. 2013 ACC/AHA guideline on the assessment of cardiovascular risk: a report of the American College of Cardiology/American Heart Association task force on practice guidelines. Circulation. 2014;129:S49–S73. Circulation. 2018 Jul 24;138(4):345-355.  eClinicalMedicine 2025: 103741. Curry, J. (2018). Screening for cervical cancer: US Preventive Services Task Force Recommendation Statement. JAMA.320(7):674-686. doi:10.1001/jama.2018.10897 https://www.ncbi.nlm.nih.gov/pubmed/30140884  Perkins RB, Wolf AMD, Church TR, et al. Self-collected vaginal specimens for human papillomavirus testing and guidance on screening exit: An update to the American Cancer Society cervical cancer screening guideline. CA Cancer J Clin. 2026;e70041. doi:10.3322/caac.70041   Screening for Cervical Cancer (2026). Obstetrics & Gynecology, 148(1), e63-e67. https://doi.org/10.1097/AOG.0000000000006257  Jad Zeitouni, Nosayaba Osazuwa-Peters, Yusuf Dundar, Gregory Zimet, Mark A. Varvares. (2025). Two decades of the HPV vaccine: its promise, progress, prospects, projections, and posterity, The Lancet Regional Health - Americas, (51), https://doi.org/10.1016/j.lana.2025.101243 Diabetes, Obesity and Metabolism 28, no. 6 (2026): 5043–5057, https://doi.org/10.1111/dom.70698.  Relationship of early rapid weight loss to efficacy and safety of tirzepatide and semaglutide for obesity: SURMOUNT-5 post hoc analysis. Am J Med. 2026 Jul;139(7):913-921. doi: 10.1016/j.amjmed.2026.03.010 US Preventive Services Task Force; Nicholson WK, Silverstein M, Wong JB, et al. Screening for breast cancer: US Preventive Services Task Force recommendation statement. JAMA. 2024;331(22):1918–1930.  Trentham-Dietz A, Chapman CH, Jayasekera J, et al. Collaborative modeling to compare different breast cancer screening strategies: a decision analysis for the US Preventive Services Task Force. JAMA. 2024;331(22):1931–1946. Giaquinto AN, Sung H, Miller KD, et al. Breast cancer statistics, 2022. CA Cancer J Clin. 2022;72(6):524–541.  Qaseem A, Harrod CS, Balk EM, et al. Screening for breast cancer in asymptomatic, average-risk adult females: a guidance statement from the American College of Physicians (Version 2). Ann Intern Med. 2026.:  American Cancer Society. Breast Cancer Facts & Figures 2022–2024. Atlanta, GA: American Cancer Society, 2022.  Hu X, Chehal PK, Kaplan C, et al. Racial differences in patient-reported symptoms and adherence to adjuvant endocrine therapy among women with early-stage, hormone receptor-positive breast cancer. JAMA Netw Open. 2022;5(8):e2225485.  Torres JM, Sodipo MO, Hopkins MF, Chandler PD, Warner ET. Racial differences in breast cancer survival between Black and White women according to tumor subtype: a systematic review and meta-analysis. J Clin Oncol. 2024;42(35):4225–4234.  Bailey ZD, Krieger N, Agénor M, Graves J, Linos N, Bassett MT. Structural racism and health inequities in the USA: evidence and interventions. Lancet. 2017;389(10077):1453–1463. Hypertension. 2026;83:00–00. DOI: 10.1161/HYPERTENSIONAHA.125.25787 Allen RH, Bartz D. Opill: The Over-the-Counter Contraceptive Pill. Obstet Gynecol. 2024;143(2):184-188. doi:10.1097/AOG.0000000000005455  Cahill EP, Kaur S. Advances in contraception research and development. Curr Opin Obstet Gynecol. 2020;32(6):393-398. doi:10.1097/GCO.0000000000000666  Charles DN, Nagarsheth M, Oshman L. Pain Management for IUD Insertion in Primary Care. Am Fam Physician. 2025;111(4):299-301.  Chen, C., Strasser, J., Banawa, R., Luo, Q., Bodas, M., Castruccio-Prince, C., Das, K., & Pittman, P. (2022). Who is providing contraception care in the United States? An observational study of the contraception workforce. American journal of obstetrics and gynecology, 226(2), 232.e1–232.e11. https://doi.org/10.1016/j.ajog.2021.08.015  Diedrich,J., Klein, D. Peipert, J.(2017). Long-acting reversible contraception in adolescents: a systematic review and meta-analysis, Am J Ob Gyn, April 2017. http://dx.doi.org/10.1016/j.ajog.2016.12.024  Li RHW, Lo SST, Gemzell-Danielsson K, Fong CHY, Ho PC, Ng EHY. Oral emergency contraception with levonorgestrel plus piroxicam: a randomised double-blind placebo-controlled trial. Lancet. 2023;402(10405):851-858. doi:10.1016/S0140-6736(23)01240-0  Mørch LS, Meaidi A, Corn G, Hargreave M, Wessel Skovlund C. Breast Cancer in Users of Levonorgestrel-Releasing Intrauterine Systems. JAMA. 2024;332(18):1578–1580. doi:10.1001/jama.2024.18575  Nguyen AT, Curtis KM, Tepper NK, et al. U.S. Medical Eligibility Criteria for Contraceptive Use, 2024. MMWR Recomm Rep. 2024;73(4):1-126. Published 2024 Aug 8. doi:10.15585/mmwr.rr7304a1  Paradise SL, Landis CA, Klein DA. Evidence Based Contraception: Common Questions and Answers. American Family Physician. 2022. https://www.aafp.org/afp/2022/0900/contraception The views expressed in this podcast are those of Dr. Domino and his guests and do not necessarily reflect the views of Pri-Med.

On this special co-host episode of Travis Makes Money, Travis and Eric are joined by Jackie, Travis's wife. Jackie is the owner-operator of an Everbowl franchise and a first-time business owner navigating the realities of running a brick-and-mortar food business. With a strong background in operations and systems, she shares what entrepreneurship has taught her about hiring, staffing, financial management, margins, and building something that feels truly her own. On this episode we talk about: What changes when you go from working for someone else to owning a business The unexpected anxiety of being responsible for an open store every day Why hiring and employee turnover are among the toughest parts of operating a small business How one- to two-minute video submissions help screen job applicants and encourage self-selection The steep learning curve of P&Ls, payroll-related reporting, taxes, insurance, and state-specific compliance Why embracing turnover and overhiring can make staffing more manageable The importance of protecting margins—and why drinks can be more profitable than prepared food What Jackie would look for in her next business, including higher-margin service-based opportunities Top 3 Takeaways Owning a business offers freedom, but it also means the responsibility never completely turns off. Build systems and staffing plans that keep the business from depending on you for every shift. Require a simple video submission early in the hiring process. It filters out low-intent applicants and gives you a faster sense of a candidate's communication skills and energy. Great employees may eventually outgrow entry-level roles. Rather than trying to hold them back, create flexible schedules for strong team members and plan for consistent turnover. Notable Quotes “It's been the first thing that has been mine that I feel like I'm proud of—that I've taken ownership of.” “The hiring process is just the most draining part.” “If you're doing life right, you're not working for me long term.” “When you said… embrace the turnover, that's the biggest thing I've tried to do.” Connect with Travis: Instagram: @travischappell  Other: Everbowl A Word from Our Sponsors: - The most successful business owners don't do it all themselves — they delegate. Upwork lets you build a team of highly skilled specialists for every function your business needs, so you can focus on what you do best and let experts handle the rest. Visit Upwork.com right now and post your job for free! - Go to Leesa.com for 30% OFF select mattresses (through September 13, 2026) PLUS get an extra $50 off with promo code TMM, exclusive for my listeners Learn more about your ad choices. Visit megaphone.fm/adchoices

This Week in Shipwrecks is the weekly maritime news series of Shipwrecks and Sea Dogs. Here are the stories you will hear in this episode: The wreck of the Altalena was discovered off the coast of Israel The German vessel LS-6 has turned up in the Ionian Sea 17th century treasure ship of King Charles I has (possibly) been found The August 22, 2026 shipwreck of the ore carrier MV Ocean Winner A Medieval Ship Hiding in a German Basement International Day for Underwater Cultural Heritage Wisconsin's Citizen Shipwreck Hunters Go Looking Again The USS Macon Has Become an Underwater Neighborhood **

Jason VanDevere reached financial independence by selling essentially ONE product. And then reinvesting those profits into real estate and the stock market. In this episode, we cover: The power of goal setting Why you should chase your dreams (not just money) Testing business ideas quickly and cheaply When to pivot and when to power through Creating and selling a physical product Building a business around your life (not the other way around) His “dream-driven” framework and why dreaming matters The three Ls of business And much more. If you got value from this episode, please subscribe and share it with a friend! Links From the Episode GoalCrazy.com YouTube Interview https://www.youtube.com/watch?v=fxz-haX6d30 Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here 

Nat made her return to the desk after recovering from her illness, opening up about her rapid trajectory into sickness over the weekend! Shaun's daughter Sunny practicing on her Ls sparked a debate on driving test disasters! With C-Bass preparing for motherhood, the team opened the phone lines for essential pregnancy advice after she noticed her normal walk has officially turned into a waddle!See omnystudio.com/listener for privacy information.

GBAG Nation explores the potential return of station bet payoffs and the associated liability concerns before shifting focus to the Dallas Cowboys' upcoming schedule and defensive outlook. They also react to Mavericks and Rangers news while sharing entertaining listener stories during the weekly Ls and Dubs segment. 01:53 - Fashion And Bet Payoffs 07:11 - Cowboys Early Season Confidence 13:21 - Mavericks And Rangers Updates 20:36 - National Sports Update 24:00 - Fantasy Football Draft Stories 28:21 - Top Ten Fantasy Players 37:11 - Cowboys Training Camp Struggles

On today's episode we are joined by a woman who has built her entire community around actually walking the walk when it comes to putting business back into the hands of women — one fourth of the infamous Quad Pod, Bri Norberg.Bri is the founder of Powered by Women® based out of Sacramento, California and currently building what is easily the most anticipated networking app built for women in business.And before we get into any of that, you should know how we got here. The Quad Pod met as complete strangers on the internet. On paper, we were direct competition. Four communities, four founders, all doing the same thing. And within a shockingly short window we were handing each other our P&Ls without a second thought. No hesitation, no questions asked. That does not happen by accident. It happens because we poured into each other first.Which is the whole reason this conversation goes where it goes.Eight years of community. Eight years of events. And in those eight years Bri watched the same thing happen over and over again. Women showing up. Doing the work. Having the conversations. And then walking away with absolutely nothing to show for it. No system. No follow up. No way to track what their network was actually producing.So she's fixing it.In this episode we get into:Why collaboration over competition doesn't count until it costs you somethingWhy connection without a system is just a nice memoryWhat it takes to stop collecting ideas and actually build oneWhy community builders need rooms full of other community buildersThe three ring framework: the human, the life, and only then the businessCONNECT WITH BRIInstagram: @poweredbywomenco @itsmebrinorbergPowered by Women Live — September 25–27, Sacramento, CAPBWL Tickets: www.poweredbywomen.com/live (discount code SPEAKER50)CONNECT WITH HALEYInstagram: @thehaleywestfallWebsite: www.haleywestfall.comTikTok: @thehaleywestfallLinkedIn: Haley WestfallSubscribe to The Weekly PourGrab your ticket to The Table Experience 2027 | Feb 5-6 | Phoenix, Arizona

Its sports... FSU W s & Ls - more Ls than Ws.... Cuptocuplife.com

We witnessed a gaggle of Ls this week as Amazon/Twitch launch opt-out AI training on their streamers to everyone's dismay. Even more abysmal AI news: An ex-writer within Saber Interactive allegedly replaced by AI and the CEO has a very healthy reaction. Luckily we finally get our first real look at Kingdom Hearts 4 and it's launching sooner than we thought! Games this week: Continuing Big Walk, KOTOR 2, Sandustry, DIVE or DIE, ReStory and more! 00:00:00 - Intro00:01:00 - To the MOON00:04:00 - War Dogs00:09:20 - Mortal Shell 200:14:00 - Twitch/Amazon training AI off streamers00:29:00 - Writer gets replaced by AI00:41:00 - Weird things in WoW00:49:00 - Terraria Calamity mod shutting down00:54:30 - Kingdom Hearts 4 news00:57:00 - Marvel Rivals doing extremely well01:00:42 - People upset with Wolverine?01:07:00 - Elder Scrolls 6 looks great according to CEO of game01:09:50 - Alan Wake 2 sells 3 million copies01:13:20 - BEEG Walk01:19:50 - Falcom reports 110% profit growth from Trails in the Sky 101:21:00 - Fire Emblem Fortune's Weave01:26:50 - Marvel Tokon gets PC patch01:35:30 - Zeke played KOTOR201:44:50 - Sandustry01:49:40 - Lootbound01:59:00 - Chop Chop Inc.02:04:30 - DIVE or DIE02:11:20 - Pax Autocratica02:23:00 - Servant of the Lake02:30:00 - Below, Rusted Gods02:36:40 - Cat Mail Co.02:42:20 - ReStory02:49:00 - Dragonsword Awakening02:59:00 - Shoutouts See omnystudio.com/listener for privacy information.

Virginia unpacks her personal journey of faith and curiosity to reveal how universal principles govern our true recovery and mental health. She shares the development of her transformative approach, examining the global vision to reach people with principles of liberty and justice. She discusses how when we fail to admit our limitations and ignore hidden patterns or shadow beliefs, the ensuing internal contradictions breed deep confusion, chaos, and dis-ease within our systems. By applying the five Ls of R.E.S.T. (Light, Life, Liberty, Love, Law) and consciously choosing to feed the voice of our highest calling, we can reconcile our spirit, soul, and body, ultimately healing the hemorrhaging heart of this generation.Where to Find VirginiaWebsiteInstagramFacebookLinkedInDonate

토론 주제: 1. ‘롤러코스피' 원인과 하반기 증시 향방은? 2. 코스피 7천피 회복할까? 투자 전략은? 출연: 박정호 명지대 실물투자분석학과 교수, 염승환 LS증권 이사 진행: 황현희

Brandon Fix is a Division General Manager at Renuity Home, where he leads one of the company's largest operating divisions. A former U.S. Air Force Special Tactics Officer, he brings a systems-driven approach to leadership, translating military decision-making, operational discipline, and team development into managing complex businesses and P&Ls.Topics:Why Special Ops Make Elite OperatorsThe Military-to-P&L Mental ModelBuilding a Sales Org That ScalesWhat Servant Leadership Means...and so much more.Top TakeawaysGreat operators see people behind every line item. Brandon doesn't treat a P&L as a spreadsheet to optimize. According to his military-to-P&L mental model, marketing is intelligence, sales are the first team into the field, operations deliver the mission, and support functions enable execution. When conversion drops, he looks at sales leadership before the sales report. When marketing underperforms, he asks whether the team has the right intelligence. Financial performance to him is the outcome of how well those teams are led.At scale, your biggest lever is talent. As Brandon's organization grew to a 1,000-person, $350M division, he couldn't be everywhere at once. His job shifted from solving problems to making sure the right leaders were solving them. That meant hiring leaders who can operate independently, coaching them well, and making tough people decisions before small leadership gaps become big operational problems.Don't just build skills, learn to communicate them. Brandon believes his military experience gave him the leadership skills to run a business. But earning that opportunity required learning the language of finance, operations, and private equity so employers could connect his experience to the role. His advice: learn to translate your experience into the language of the role you're pursuing.About Renuity HomeRenuity Home is one of the largest home improvement platforms in the U.S., providing replacement windows, doors, bathrooms, kitchens, garages, closets, and other remodeling services through a family of national and regional brands. The company operates across 40 states, employs 1,000+ people, and has served over 300,000 homeowners, making it a notable example of building scale through acquisitions while preserving strong local operating brands.Investors & Operators is brought to you by 51 Labs51 Labs is a marketing agency for the lower middle market. We offer full-service digital marketing for PE, portfolio companies, IB, VC, hedge funds.Brand Identity, Marketing Strategy, Marketing & AGM Video, LinkedIn Strategy & Execution, Web Design & Development, Growth Support & more400+ videos100+ projects#1 content creator on LinkedIn in the lower middle market

In this episode, Frank talks with Nick D'Andrea, owner of AMDG Advisors in Moosic, about helping founder- and family-owned businesses prepare for and execute sell-side M&A. They cover how owners should think about legacy vs. cash goals, what buyers focus on (EBITDA, margins, trailing 12 months), common financial red flags like accounts receivable and messy P&Ls, and why it's best to engage an advisor before signing an LOI. Nick outlines his end-to-end sales process from CIM creation and buyer outreach to management presentations, LOIs, due diligence, and closing, plus typical deal structures like owners staying on, rolling equity, or bonuses for employees. Nick shares his background in big accounting and transactions, his move back from Philadelphia, and how to contact him at amdgadvisors.com.To learn more, visit their website or LinkedIn.If you or someone you know wants to be featured on our podcast, visit our website! 

A listenerreached out after sending us several emails, and his story is one that so manycouples in the swingers lifestyle (LS) will relate to. After steppingaway from swinging, he and his wife found their way back—and he shares howadvice from the Swingers Couch Podcast helped them rebuild theirconfidence, reconnect as a couple, and return to the lifestyle stronger thanever.We also diveinto one of the most important conversations every couple should have beforeentering an open marriage, ethical non-monogamy (ENM), or the swingerlifestyle: the "What If Something Happens?" rule. What doyou do if emotions change, boundaries get crossed, or life takes an unexpectedturn? This simple conversation could save your relationship.And to wrapup the episode, our listener shares a story you won't want to miss—one thattakes an unexpected turn and ends with a memorable, very sexy surprise.If you'recurious about how to start swinging, returning to the lifestyle after abreak, setting healthy boundaries, or learning from real couples' experiences,this episode is packed with practical advice and honest conversation.

Join Denis Yurchenko, Founder and CEO of MTLAB and creator of Uverest, for an insider look at the fundamental shift transforming global retail infrastructure. For thirty years, e-commerce personalization—from Amazon search rankings to social media feeds—has been paid for by the seller, making the consumer the product rather than the customer. Amazon's $50 billion annual ad business represents a tax on product relevance, forcing consumers to navigate sponsored listings and broken checkout funnels. Denis breaks down why traditional Web architecture fails AI agents, how Uverest provides a buyer-loyal data and checkout layer, and why incumbent marketplace giants cannot copy buyer-aligned AI without destroying their core business models.

In this Multifamily Minute episode, Axel gets introspective on a concept he's been wrestling with personally: the psychological relationship investors have with money as their portfolio grows — and why the skill that helps you scale can quietly become the thing that costs you the most.Using poker as a framework, Axel maps the psychological arc of the growing investor — from the early-stage necessity of emotional detachment, to the mid-stage risk of becoming too numb, to the mature-stage discipline of swinging the pendulum back and reassigning real dollar value to every line item in the business.This episode is essential listening for any investor who has started delegating, doing more deals, and moving faster — and who wants an honest gut-check on whether their relationship with spending in the business has quietly drifted in the wrong direction.Join us as we dive into:The Hawaii vacation story: a routine electrical bid that came in $1,500 high nearly got approved on autopilot — and what that moment revealed about how Axel thinks about money in the business today.Why developing emotional detachment from dollar variance is a necessary skill for any investor growing from 5 to 15 to 50 units — and how holding onto stress about every water heater replacement prevents delegation and scale.The poker analogy: why elite poker players must strip emotion from their decision-making at the table, and why the same psychology applies to real estate investors managing day-to-day swings.Why detachment needs to apply to the upswings too — staying disciplined when a cash-out refi returns more than expected, or a deal comes in under budget.How the pendulum swings too far: as businesses grow, faster decision-making and more line items on more P&Ls make it easy to approve lump sum quotes without analyzing what's inside them.The Silicon Valley startup parallel: when you have a war chest and are running with urgency, individual cost line items stop feeling material — the same dynamic happens in real estate as portfolios scale.Why this episode speaks most directly to investors with 15–50+ units who are actively running a business, managing teams, and moving fast across multiple deals simultaneously.Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.Connect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Rodriguez Vazquez, et al. v. Bostock, et al., No. 25-6842 (9th Cir. July 30, 2026)class action; no mandatory detention for EWIs; Hurtado; seeking admission; INA § 235(a)(2)(B); Laken Riley Act; applicant for admission entry; canon against superfluity  Cirrus Rojas v. Olson, et al., No. 25-3127 (7th Cir. July 30, 2026)mootness; deemed; no mandatory detention for EWIs; Hurtado; seeking admission; INA § 235(a)(2)(B); applicant for admission entry; canon of constitutional avoidance; plain text Matter of A-L-S-, 29 I&N Dec. 794 (BIA 2026)bond; flight risk; speculative relief; clear error review; long time residence and employment in U.S. as negative factors for bond  Matter of L-L-R-, 29 I&N Dec. 799 (BIA 2026)good moral character; possibly alien smuggling even if dropped off at the border; Al Otro Lado; INA § 101(f)(3);  Matter of A-W-M-K-, 29 I&N Dec. 805 (BIA 2026)bond; flight risk; USCIS decision as evidence; speculative relief; suspected human right violations; Afghanistan  United States v. Lopez, No. 24-3268 (9th Cir. July 28, 2026) Cal. Pen. Code § 273.5; crime of violence; Borden; Gomez; mens rea and use of force; recklessness; general intent crimes; assault; battery; use of “willful” in statute not determinative Perez-Hernandez v. Blanche, No. 25-3592 (6th Cir.  July 28, 2026)motion to suppress; egregious constitutional violate; race-based stop; Miranda warnings; intra familial dispute in Guatemala; nexus; relocation for CAT Kim v. Blanche, No. 24-2042 (1st Cir. July 30, 2026)sua sponte motion to reopen; conviction vacatur; citation to vacatur statute alone sufficient to establish procedural or substantive defect; Super. Ct. R. Crim P. 11Kurzban Kurzban Tetzeli and Pratt P.A.Immigration, serious injury, and business lawyers serving clients in Florida, California, and all over the world for over 40 years.eimmigration"Immigration law software you'll love to use."get.eimmigration.com/IRP Gonzales & Gonzales Immigration BondsP: (833) 409-9200immigrationbond.com Stafi"Remote staffing solutions for businesses of all sizes"Click me!Want to become a patron?Show the Podcast some loooovvveeeCONTACT INFORMATION:Email: kgregg@kktplaw.comFacebook: @immigrationreviewInstagram: @immigrationreviewTwitter: @immreviewAbout your hostCase notesRecent criminal-immigration article (p.18)Featured in San Diego VoyagerSupport the show

VOV1 - Ngày 17/01/2016, viên đá đầu tiên của Đài tưởng niệm nghĩa sĩ Hoàng Sa được đặt xuống trên đỉnh núi Thới Lới...Trong buổi lễ hôm ấy, tiếng hát ru của bà Đỗ Thị Hảo vang lên đã khiến những người có mặt khi đó lặng đi.Hoàng Sa đi có về khôngLệnh vua sai phải quyết lòng ra đi....Cũng ngày đó, bà Đỗ Thị Hảo, người cuối cùng trên đảo Lý Sơn còn giữ được trọn vẹn kho hát ru Hoàng Sa cổ xưa - đã không chỉ hát cho những người có mặt ngày hôm đó nghe, mà còn hát cho hàng trăm năm lịch sử của cha ông, cho những hồn nghĩa sĩ còn nằm lại giữa biển khơi Hoàng Sa nghe.Và hôm nay, tôi muốn kể cho bạn nghe câu chuyện về người phụ nữ ấy, về những lời ru mà đến nay, chưa bao giờ tắt trên đảo tiền tiêu.

David Richter, author of Profit First for Real Estate Investing and founder of Simple CFO, walks through how to onboard a fractional CFO the right way so the relationship pays off from day one. He explains what makes a CFO relationship different from working with a bookkeeper or CPA and what both sides need to bring to the table.This solo episode covers the prep work that gets you clarity faster, why every relevant person on your finance team belongs in the process, and how being honest about your money mindset shapes the whole engagement. If you're about to bring on a CFO or thinking about it, this one shows you exactly what to prepare and what to expect.Timeline Summary[0:26] – David sets up the episode on how to make your CFO relationship the best right off the bat[0:44] – The difference between onboarding well and just showing up unprepared[1:08] – Why total honesty during onboarding matters more with a CFO than any other money person[1:26] – How a CFO relationship differs from a bookkeeper's transactions or a CPA's tax focus[1:47] – The reluctant spouse problem and why all relevant people need to be on the early calls[2:24] – Book recommendation on money mindset from Morgan Housel for anyone struggling with it[2:59] – Accounting for the Numberphobic for owners intimidated by balance sheets and P&Ls[3:16] – Doing the groundwork yourself so less foundation has to be laid during onboarding[3:38] – Bring your existing bookkeeper and CPA into the process to make the handoff seamless[4:16] – You're the orchestra conductor, so connect the right people to the right systems[4:32] – Why owners avoid looking at finances most when money is tightest[4:54] – Telling your CFO how you actually feel about money instead of hiding it[5:10] – What the CFO should be doing: prepping you, starting where you are, asking good questions[5:47] – Why the relationship has to be two sided, a yin and yang, not one person pouring in[6:05] – Facing hard things, building reserves, and putting systems in place for better decisions5 Key TakeawaysLead With Total Honesty — A CFO relationship works only if you share what you actually want and where you're struggling. Hiding your money mindset just slows down the results you came for.A CFO Is Not A Bookkeeper Or CPA — Bookkeepers handle transactions and CPAs handle taxes. A CFO focuses on how money affects you, how much you keep, and the mindsets holding you back.Get Everyone On The Call — If a spouse or partner shares the finances, they belong on the early calls too. A reluctant participant who checks out undermines the whole engagement.Do The Groundwork First — Reading up on Profit First, balance sheets, and money psychology before you start means less foundation to lay. You get to clarity and better decisions faster.Bring Your Whole Finance Team — You're the conductor, so introduce your existing bookkeeper and CPA to your new CFO. Connecting the right people and systems makes the handoff seamless.Links & ResourcesSimple CFO — https://simplecfo.comProfit First for Real Estate Investing by David Richter — https://profitfirstrei.comThe Psychology of Money by Morgan Housel — https://www.morganhousel.comThe Art of Spending Money by Morgan Housel — https://www.morganhousel.comAccounting for the Numberphobic by Dawn Fotopulos — https://www.harpercollinsleadership.comEnjoyed This Episode?If this gave you a clear picture of what to prepare before your first CFO call, put it to work before you sit down with anyone. Share this episode with a business owner who's been avoiding their finances, and follow the show and leave a rating and review so more real estate investors can build the kind of money relationship that actually keeps them in control.

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

Four Five Guys locations just closed across California — not for lack of customers, but because Gavin Newsom's business climate has made profit mathematically impossible. Labor mandates, punishing commercial rents, and a regulatory burden that never stops growing have pushed even busy, high-traffic restaurants past the breaking point. This is the blue state exodus claiming four more victims.The math is brutal and simple: when you can only charge so much for a burger, and every line on the cost sheet keeps climbing, the numbers stop working. California's fast food workers earn among the highest mandated wages in the nation while commercial real estate in major metros remains punishing. The capital goes elsewhere, the locations close, and the workers "protected" by those mandates end up with no job at all.What makes this telling is the pattern: these weren't ghost-town locations. They were busy. Customers lined up. It didn't matter. Newsom and his allies have built a policy environment so hostile to enterprise that even national chains with deep pockets look at their California P&Ls and choose to cut losses rather than absorb another year of escalating costs. Four Five Guys today — the question is what's next.Subscribe to @reasonablenews and hit the bell — new episodes every weekday covering the stories the mainstream press buries.#Seattle #HomelessCrisis #KatieWilsonGO PREMIUM WITH REASONABLE+ FOR UNCENSORED ACCESS

For months,we've received messages asking the same question..."Whydid you leave the lifestyle?""What really happened between you and Autumn?"Until now,we've only shared small pieces of the story.In thisemotional and honest episode of The Swingers Couch Podcast, Carlos opensup about a conversation with a close friend that made him realize it wasfinally time to tell the complete story. We discuss the real reasons behind ourseparation, the challenges we faced, why we stepped away from the swingerlifestyle (LS), and the lessons we learned through one of the toughest periodsof our lives.This isn'tabout drama or pointing fingers—it's about sharing the truth, talking about therealities that many couples face, and hopefully helping others who may be goingthrough similar struggles.Whetheryou're new to swinging, curious about ethical non-monogamy (ENM), or alreadypart of the lifestyle, this episode offers an honest look at relationships,communication, heartbreak, personal growth, and what happens when life doesn'tgo as planned.If you'veever wondered what really happened behind the scenes, this is the episodeyou've been waiting for.

This week, we're throwing something on the grill for the late Criston Cole as we break down Episode 7 of our House of the Dragon* Side Quest Reviews. Last week he was considered one of the greatest warriors in Westeros, and this week... he's food for the worms.Was Criston Cole's death satisfying, or did he deserve a more dramatic sendoff? Our hosts share their thoughts while also discussing yet another rough week for Team Black. At this point, taking Ls has become a regular occurrence—but maybe the winds will finally shift in their favor.Meanwhile, Daemon is on the hunt for the murderers of his Gold Cloaks, while Rhaenyra sends assassins after Ormund and Daeron. Let's just say neither plan goes exactly as intended.With only two episodes remaining, we're still not 100% sure who the father of Helaena's baby is. What are your theories? Let us know your thoughts in the comments!

Today's episode is about allometric scaling with therapeutic antibodies. I discuss differences from small molecules, how to handle antibodies with engineered Fc regions (e.g. YTE or LS), and using allometry to extrapolate from adults to pediatrics for these antibodies. Links discussed in the show:Haray and Tachibana's article on allometric exponents for monoclonal antibodies Exponents for standard antibodies: CL = 0.8, Q = 0.75, Vc = 1/.0, Vp = 0.95Exponents for modified antibodies: CL = 0.55, Q = 6, Vc = 0.95, Vp = 0.95You can connect with me on LinkedIn and send me a message Send me a message Sign up for my newsletter Copyright Teuscher Solutions LLCAll Rights Reserved

Noah and Ari are back during the midweek break to wrap up the 2026 FIFA World Cup with their takes on how Seattle showed out, give out their tournament awards and talk about how MLS can take it from here.Follow Lobbing Scorchers: YouTube Instagram Bluesky TikTok Facebook Ari Liljenwall Noah Riffe Niko MorenoSPONSORSQED Coffee - a Seattle based roaster, coffee shop and coffee subscription service. Visit them in person at one of the three Seattle locations or online and use code ‘LS74' for 25% off across the site.Haxan Ferments - Specializing in unique, small-batch fermented hot sauces and vinegars, Haxan Ferments is handcrafted in Georgetown and made with the best local ingredients from across the Pacific Northwest. Use Code LS for a FREE Hot Sauce w/ purchase!Podium Edmonds - Located at 114 4th Ave N, just off Main Street in the heart of Downtown Edmonds, come shop and explore the best menswear in the Pacific Northwest. Tell them Lobbing Scorchers sent you!Full Pull Wines - Founded in 2009, they the best boutique wines of the world to members, with special focus on our home, the Pacific Northwest.Lobbing Scorchers is a production of Just Once Media.Lobbing Scorchers is a Seattle Sounders and MLS focused show brought to you by Sounder at Heart. Hosted by Major League Soccer's Ari Liljenwall and Producer Noah Riffe. Join us as we lob our scorching takes on the American soccer landscape, Seattle Sounders, Major League Soccer, USMNT and more.Contact: lobbingscorchers@justoncemedia.com#LS

Attorney Stuart W. Penrose of Minnillo Law Group joins us every week to discuss sports and the law. This week: The NCAA continues to take Ls in court, and some area college basketball teams should benefit, an NFL exec faces banishment, and a former NFL star is in hot water for not paying his child support. Podcasts of The Mo Egger Radio Show are a service of Longnecks Sports Grill.Listen to the show live weekday afternoons 3:00 - 6:00 on ESPN1530. Listen Live: ESPN1530.com/listenGet more: https://linktr.ee/MoEggerFollow on X: @MoEggerInstagram too: @MoEgger And YouTube: youtube.com/@TheMoEggerShowSee omnystudio.com/listener for privacy information.

Attorney Stuart W. Penrose of Minnillo Law Group joins us every week to discuss sports and the law. This week: The NCAA continues to take Ls in court, and some area college basketball teams should benefit, an NFL exec faces banishment, and a former NFL star is in hot water for not paying his child support. Podcasts of The Mo Egger Radio Show are a service of Longnecks Sports Grill.Listen to the show live weekday afternoons 3:00 - 6:00 on ESPN1530. Listen Live: ESPN1530.com/listenGet more: https://linktr.ee/MoEggerFollow on X: @MoEggerInstagram too: @MoEgger And YouTube: youtube.com/@TheMoEggerShowSee omnystudio.com/listener for privacy information.

LORI PRESTESATER SPENT HER CAREER BUILDING COMPANIES AND RUNNING P&LS. THEN SHE JOINED A 175-YEAR-OLD INSTITUTION AND ASKED WHAT IT COULD BECOME. Laurie McGraw sits down with Lori Prestesater, former Senior Vice President of Health Solutions at the American Medical Association, on the eight years she calls the pinnacle of her career, and the transition out of it. Most people would not describe the AMA as a high-growth opportunity. Lori came from payers, provider groups, and high-growth technology, and took on the work of turning a traditional publishing organization — one that put out books, codes, and data formats — into a data organization. She is candid that the hard part was never the technology. It was culture, change management, and leading by influence rather than authority, including with the physician volunteers who sit nowhere on an org chart. The conversation also goes where most leadership interviews do not: what happens when a woman who worked seven days a week and put herself last finally has to decide what she wants next. In this episode: - Why a high-growth executive chose a 175-year-old association, and what surprised her when she arrived - The CPT code set as the backbone of revenue cycle, and why it has to evolve as medicine does - CPT Intelligence — built on a private large language model, with content tagged using graph database technology — and how it supports autonomous coders, EHRs, payers, and prior authorization - Why the biggest challenge in any transformation is cultural, not technical - Building the data labs team with Sandeep Dhamale, and the platform he left behind - The credentialing product launched during her tenure: under two years in market, just under 150 customers, deployed across just under 700 locations, with customers reporting up to a 30% reduction in physician onboarding time - Six months to see a primary care physician in San Francisco, and why an incredibly cumbersome application process compounds the shortage for patients, health systems, and physicians alike - Taking the complex and making it simple — the skill she undervalued early in her career - Putting mission first when your instinct is growth: the art and science of medicine for the betterment of public health - Handing Health Solutions to Jeremy Knight, and why she believes he is better suited to the next chapter - Advising AMA CEO Dr. John Whyte on special projects during her transition - Moving back to Colorado after years of not living in the same state as her husband - Moving her mother, who just finished her term as board chair of a hospice organization at 88 - A new grandchild, a daughter navigating new motherhood, a newly married son - Where board work fits into what comes next, after years spent on the staff side of the table - Women Business Leaders, and the principle at its core: who mentors the mentors? - Why senior leadership gets lonely, and why you need people for the good times and the bad - The book Ask For It, and why she has given it to so many young women - Her closing advice: be confident, talk less and listen more, know your superpowers, backstop your weaknesses, and build a network that will advocate for you when you struggle to advocate for yourself Inspiring Women with Laurie McGraw.

We put ChatGPT to the test LIVE and ask it to help us with the show! We also talk to the Suite-Talkers about how they may use AI in their LS journey. Do you get help writing profiles, texts messages, or even help with your pics?!MisTryst is also working on something super sexy in the near future! Take a listen and find out what she's got cookin'!As always, thanks for listening!Support the people who support this show:Sapio Tours by Kate and Liam (Monogamish Marriage Podcast)Expansive Connection!Be sure to SUBSCRIBE, RATE, & REVIEW! We appreciate any and all feedback!How to stay in-touch with us:Email: thesuitelifepodcast@gmail.comFollow us here for info on upcoming LIVE episodes:Instagram: @thesuitelifepodcastTwitter: @suitelifepodFacebook: Livin' the Suite Life (Tryst Loq Suitelife)Don't forget to SUBSCRIBE to the Livin' the Suite Life Podcast YouTube Channel!

In this C&C-less Packard 443 Episode, Tim drops a turd… off so our buddy Matt can start his next project while Mental hides from the Vegas sun. Really we talk to our buddy Paul, the creator of the Distilled Racing 41 Ford. What happens when a retired contractor decides that "good enough" isn't nearly crazy enough? Well, He Built the Ultimate LS-Swapped '41 Ford, and it became one of the most talked-about cars in the 24 Hours of Lemons paddock.... Now he's selling time in the driver's seat, and donating the money. This week on Everyone Racers, we're joined by Paul Dolan, builder of the legendary 1941 Ford Sedan that's become an icon of grassroots endurance racing. Powered by an LS V8 mounted an incredible 22.5 inches behind the front axle, this handcrafted machine has stunned racers, judges, and spectators everywhere it goes.But this episode isn't just about horsepower.Paul shares the incredible story of discovering endurance racing after retirement, designing and building this award-winning car from the ground up, learning the hard lessons of making an endurance racer survive, and finding the community that changed his life.Even better...For the 24 Hours of Lemons 20th Anniversary race at WeatherTech Raceway Laguna Seca, Paul is doing something almost unheard of.Instead of keeping the driver's seat for himself, he's offering seat time in the car to raise money for Lemons of Love, helping families affected by cancer. Every lap supports a cause far bigger than racing. Wanna be a part of it? Reach out to us, we'll put you in touch. Along the way we also dive into:

Black Flag Resynced just became the biggest Assassin's Creed launch in history — and it's a remake of a 13-year-old game with mixed Steam reviews. The boys break down the day-one microtransaction backlash, whether the remake gold rush is good for gaming, and which classics deserve the full ground-up treatment next. Then it gets heavier: Microsoft's July layoff wave hit Bethesda and ZeniMax hard, and Raz makes the case that AI is a top-three reason why. Plus the office memorial HR forced down, 14 layers of management, and why Elder Scrolls 6 should have shipped a decade ago. Also on the docket: Doom: The Dark Ages – Revelations DLC and its Metroidvania-inspired level design, Stop Killing Games taking Ls in the EU and California (and the list of "dying" games nobody has ever heard of), the full corrected rundown of Tarkov's Kord Breach Season 1 modifiers, and the BO2 remaster shipping with bugs that were patched a decade ago. One host thinks the ownership question matters. The other thinks the market already answered it. You know how this goes. 0:00 - Intro 3:48 - Black Flag Resynced: biggest AC launch ever 12:35 - The day-one microtransaction backlash 24:29 - Remakes are the new meta 34:19 - Doom: The Dark Ages – Revelations DLC 42:29 - Bethesda layoffs 43:35 - Did AI cause the layoffs? 47:50 - The office memorial HR took down 53:43 - Where the hell is Elder Scrolls 6? 1:01:12 - AAA studios don't take risks anymore 1:07:45 - Stop Killing Games takes two Ls 1:10:01 - Roasting the "games being killed" list 1:16:47 - Our AI's $70 take gets destroyed 1:18:51 - Brazil is bigger than Australia?? 1:20:52 - Gold injections & ayahuasca (don't) 1:26:43 - Tarkov Kord Breach: what we got wrong 1:40:28 - BO2 remaster: same bugs, 12 years later 1:41:49 - Jake's Tarkov check-in 1:45:38 - Announcements & Patreon _Note: timestamps may be slightly misaligned on podcast apps (but not on YouTube) due to dynamic ads._ The podcast is available wherever you listen to podcasts, and ad-free & early access versions - as well as bonus episodes - are available to all of our Patreon (https://www.patreon.com/thedropshot) supporters. We stream the podcast live on our YouTube (https://www.youtube.com/c/thedropshotpodcast) every Saturday morning at ~9 o'clock Pacific Time. We typically start the stream 30 minutes early to answer viewer questions, banter, and chat. Links for everything are below. Thanks for checking us out!

Most companies treat employee retention as an HR problem.The data from hundreds of P&Ls says it's a leadership problem and the companies that figure that out first are the ones that consistently outperform.Rohit Bassi, McKinsey veteran, private equity operator, and author of People Priority, introduces a framework that is changing how business leaders think about their most valuable asset. Rohit calls it People Quotient, or PQ. Just as individuals have IQ and EQ, companies have PQ. The ones that measure it, invest in it, and build it deliberately are the ones that win.Rohit and, host, Ashish Kothari unpack why retention is not a metric to hand off to HR, why trust is the single most important element of any organizational design, and why the companies winning with small and medium sized businesses are the ones treating talent operations as a core business function not an afterthought.If you lead a team, run a business, or advise organizations on growth, this conversation will change how you think about your people strategy.What you will learn:How successful companies align leadership, structure, and talent systems to elevate their PQThe three leadership traits, drive, empowerment, and velocity, that fuel high performanceWhy most hiring processes are reactive and how to adopt a disciplined, systematic approachThe importance of trust and conflict management in fostering a high-trust cultureHow to use the “CAST” framework, clarity, accountability, structure, and trust for organizational designEpisode Chapters: 03:46 Rohit introduces the concept of People Quotient and how it was born from analyzing hundreds of P&Ls08:00 The three pillars of PQ: leadership capability, organizational design, and talent operations12:00 Why bad managers, not bad companies, are the primary reason people leave29:08 The real cost of attrition34:54 Retention as a leadership trait: what CEOs get wrong43:45 Talent operations: the three things companies consistently get wrong49:36 Why putting people first works from 3-person startups to 10,000 person organizations52:02 Closing reflections: people are not a support function, they are the strategyResources:Connect with the GuestLinkedIn: Rohit BassiRecommended Reading: People Priority The CEOs Blueprint for Winning Talent AcquisitionConnect with the HostLinkedIn: Ashish KothariWebsite: Happiness SquadBook: Hardwired For HappinessYouTube: Happiness Squad ChannelIf this conversation sparked something for you, please subscribe and leave a review, it takes 30 seconds and helps more people discover the show.

AOC dons hijab to cosplay as a Third Worldist fellow-traveller; Graham Platner and James Talarico cosplay as a blue collar Trump voter and a Bible-thumping Trump voter… and are headed for big Ls; and the Pope signs into chat on AI. Ep. 2433 - - - Click here to join the member-exclusive portion of my show: https://dwplus.watch/BenShapiroMemberExclusive - - - Today's Sponsors: Supersure - Find out if your business is overinsured, underinsured, or somewhere in between. Go to https://Supersure.com/shapiro and get a full report on your current policies, with no obligation. NetSuite - Download the free e-book “Navigating Global Trade: 3 Insights for Leaders” at https://NetSuite.com/SHAPIRO Balance of Nature - Go to BalanceofNature.com today and get 10% OFF the Whole Health System™ supplements when you use Discount Code: SHAPIRO Shopify - Sign up for your $1-per-month trial and start selling today at https://Shopify.com/shapiro - - - DailyWire+: Become a Daily Wire Member and watch all of our content ad-free: https://www.dailywire.com/subscribe