Podcast appearances and mentions of mark tibergien

Mark Tibergien is the former CEO of Pershing Advisor Solutions, a former Principal with Moss Adams Consulting, and a longtime practice management consultant and thought leader in the financial advisory industry. Over his 50-year career in financial services, Mark has witnessed the evolution of the financial advice industry and has actively defined best practices for advisory firms aiming to scale up and build enduring businesses. His extensive experience has enabled him to measure and track the key strategies that help firms not just grow in size, but also enhance their scalability and operational efficiency. In this episode, Mark shares his insights on the crucial distinction between growing in size and truly scaling an advisory firm, emphasizing that genuine scale is achieved when revenue increases outpace expenses. He also discusses the ongoing industry consolidation and outlines the different types of firms looking to acquire RIAs—financial, tactical, and strategic buyers—highlighting how smaller firms can still thrive by focusing on local excellence or specific client demographics. Listen in to learn about the importance of proactive succession planning and defining personal measures of success, which influence both strategic decisions and the broader impact of the advisory business on the community and the industry. For show notes and more visit: https://www.kitces.com/400

Mergers and acquisitions have dramatically reshaped the RIA landscape over the last several years, with hundreds of deals taking place annually. Now, however, the best leaders in the RIA industry are focused less on just "the art of the deal" - and are placing an even greater emphasis on "the art of the manage", according to industry icon Mark Tibergien. In this episode of RIA+, Emigrant's Mark Bruno sits down with Mr. Tibergien, one of the most thoughtful and influential executives in the RIA community, to discuss the true keys to success in RIA M&A. 

Episode Notes Jeff and Bruce connect with financial industry vet Mark Tibergien on all things financial advising. He explains how his retirement from Pershing Advisor Solutions in 2020 allowed him to rewire his services, providing greater reach in how he applies his years of experience in the industry. Guest Bio: Mark Tibergien retired in June 2020 as CEO of Pershing Advisor Solutions, a BNY Mellon Company, and now works as a consultant, speaker or board member with other enterprises that are going through dynamic transformation. Mark recently was appointed as Advisor in Residence for Ernst & Young Wealth & Asset Management Sector. He also serves on the board of Pathstone, a multi-family office backed by Lovell Minnick Partners. As a wealth management partner, LPL Financial helps advisors, enterprises, and institutions serve their clients.

Jeff and Bruce connect with financial industry vet Mark Tibergien on all things financial advising. He explains how his retirement from Pershing Advisor Solutions in 2020 allowed him to rewire his services, providing greater reach in how he applies his years of experience in the industry. Guest Bio:Mark Tibergien retired in June 2020 as CEO of Pershing Advisor Solutions, a BNY Mellon Company, and now works as a consultant, speaker or board member with other enterprises that are going through dynamic transformation. Mark recently was appointed as Advisor in Residence for Ernst & Young Wealth & Asset Management Sector. He also serves on the board of Pathstone, a multi-family office backed by Lovell Minnick Partners.

Mark Tibergien has been a leader in the financial services industry for many years, most recently having retired in 2020 from Pershing where he served as the CEO. Mark continues his contributions to the industry by now working as a consultant, speaker, or board member with other enterprises that are going through a dynamic transformation. … Continue reading Episode 139 – Sanctuary Wealth Oasis: How to Foster an Enduring Enterprise – With Mark Tibergien →

In the RIA M&A arena, fall is a busy time for conferences. I had the pleasure to attend two such conferences recently, both run by quality investment banking firms competing against one another in the RIA market. Despite each conference being run by competing firms, Echelon Partners and DeVoe & Co, I find it very fascinating the echoing themes between the two conferences. MINORITY INVESTORS The start of the Echelon Partners' conference began with the 10th annual debate between Echelon Founder and CEO Dan Seivert and Mark Tibergien, former CEO of Pershing Advisor Solutions. The annual debate – which I find to be quite fun – involves Dan and Mark taking 6-8 current issues, assigning each an opposing side to argue, and holding a traditional debate. Think back to debate clubs in high school, except in the RIA industry. The debate ends with an online vote from the crowd on who debated their argument better, with this year Mark being the winner – evening the 10 years' worth of scores to 5-5. A topic that has come up often lately with my clients is discussing their options on different financing acquirers/minority investors. This topic, specifically in the investment minority space, happened to be one of the debate topics by Mark and Dan. While Mark and Dan debated on opposing sides, in the end, both expressed their opinions on taking on a minority ownership interest. From my view of their conclusions, they both expressed certain skepticism about the advisability of taking on a minority ownership interest in your firm. This skepticism is very interesting to me because I've for sure witnessed more and more minority investors in the space. In fact, at the DeVoe conference, I met a new minority investor I'd not known before, and we discussed the positives of minority investments. Some of the positives of minority investors are: You can make smaller deals, such as at 20% or less You still have a majority holding of your firm You can monetize your remaining stake later You can later take “chips off the table” and build growth capital SKEPTICISM IN MINORITY INVESTORS So, the trend of minority investors entering the space is in an upswing, but why is there so much skepticism in the space towards minority investors? Well, one of the truest criticisms is that you may think by taking on a minority investor into your firm, that you're keeping control. For instance, you bring on a minority investor for 20%, you maintain 80%, logically one might think because they have a majority of the equity, that they have majority control which, to some extent, is true, but also not true in important ways. Simply put, majority control does not equal absolute control. You will still have to consult -- and even answer to – your investor, even if they have a fraction of the equity in your firm that you do due to contractual control rights that minority investors require in these types of deals. This also becomes increasingly truer, and more complicated, if you decide to piecemeal your firm out to several minority investors. The types of contractual usually provide them much more power than their ownership stakes would otherwise dictate. For instance: Adding in a veto power over certain decisions, such as on larger deals (selling the company, mergers, acquisitions, etc.). Requiring budget restrictions (including on owner's compensation), so if budget decisions are made outside of the restrictions, approval must be obtained. While there's validity for these minority investors' contractual arrangements – protecting their own interests and investments – it can become troublesome for majority owners. The most obvious reason being having to give up a significant amount of control, despite having majority ownership and only having partially monetized their equity. In the DealQuest Podcast, episode 198, I discuss more about the skepticism, and lesser discussed criticisms regarding minority investors. THE IMPORTANCE OF HAVING THE RIGHT PEOPLE BEHIND YOUR DEAL In addition to offering education, conferences also provide networking and connection opportunities to others in your space. While at the DeVoe conference, I discussed many important deal and RIA industry topics with other dealmakers, and one story struck me as an important lesson. One of the CEOs I spoke with talked about a deal he was making, and how the selling RIA firm had hired an environmental litigator (a friend of one of the partners) to represent their interests in the deal. Since the seller lacked adequate representation which was making the deal too difficult to get done, this CEO felt the best choice was to cancel the deal. It's important you have the right people behind you during your deal-making process. This CEO did his due diligence and recognized that having an environmental litigator negotiate an M&A deal was not going to be successful for them. Some things to be sure of when choosing counsel to assist in your dealmaking: Are they qualified to negotiate? (IE: don't hire an environmental litigator to negotiate your M&A deal.) Are they skilled and experienced in your industry and with deals (IE: don't hire an RIA industry law firm that mainly focuses on RIA compliance not deals nor, on the flip side, an experienced M&A attorney who doesn't know the RIA space)? What is their success rate of getting deals closed? How long have they been practicing? Are they coming from a qualified referral source and/or are able to provide multiple references from industry clients for whom they have done deals? The importance of due diligence cannot be overstated. I emphasize it so frequently because failing to do adequate pre-due diligence and due diligence (including on the choice of your team) can ultimately land you in a very unfortunate situation during your deal. RIA AGGRIGATORS & DEALQUEST PODCAST LIMITED SPECIAL SERIES Another common theme between the Echelon and DeVoe conferences was that a significant portion of all the deals currently being made are by the “big aggregator and integrator firms.” At the DeVoe conference, it was cited that 91% of recent deals being made were by these types of firms. At the DeVoe conference, they held two aggregator/integrator panels. It was, again, fascinating and inspiring for me to hear these major players discuss their philosophies, strategies, and what they're looking to attract and see the maturation of the RIA industry - one in which there was practically no investment capital and significant deal-flow less than a decade ago. It has, in fact, inspired me to run a special series on my DealQuest Podcast. On Fridays starting on November 11th, I will be running a special series highlighting the RIA aggregators and integrators within the RIA space. During this special series, I will be interviewing the CEOs and top executives of these major firms to create a resource that will help potential RIA sellers to understand the different offerings, models, benefits and comparative drawbacks of each of these firms and how they may align or not with a seller's goals and objectives. This is going to be a great series. Tune in! Conferences offer networking and educational opportunities – and I urge folk to attend them when they can – however, not everyone can attend them,so, my goal of this special limited series is to offer an accessible platform and space for these important RIA M&A-specific discussions. Again, that special limited series will begin on November 11th, and air on Fridays for six weeks. You can check them out on the DealQuest Podcast, available wherever you listen to podcasts including on Apple Podcasts and Spotify. Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. If you want to find out how deal-ready you are, take the Deal-Ready Assessment today!

He says mentors like Mark Tibergien have taught him how to go beyond business metrics and "elevate the profession.” 

For today's conversation, we're taking a different approach in order to highlight ThinkAdvisor's new industry recognition program: The LUMINARIES, which is recognizing top advisors, broker-dealers, RIAs, asset managers and other firms, as well as their outstanding programs, products and services. The 2021 finalists of this groundbreaking program will be announced soon online at ThinkAdvisor.com. They'll also be featured in print in Investment Advisor magazine's September and November issues. The Luminaries awards shine a spotlight on excellence in four key areas by telling the stories of those leading the industry forward in: Diversity & Inclusion, Thought Leadership, Executive Leadership and Dealmaking/Growth. Today, we're speaking with one of the esteemed judges of the LUMINARIES program: Mark Tibergien. We'll be speaking with more of the VIP judges, as well as some of the LUMINARIES' winners, in a new podcast series that kicks off soon as part of this new recognition program. Mark Tibergien -- who started his professional life  in journalism, radio and sales -- went on to lead BNY Mellon Pershing's Advisor Services business. The now retired industry veteran continues to support and participate in exciting programs like the LUMINARIES.

  Inside the Deal Part 1: Deal Readiness How do RIAs know if they are M&A ready? How are deals sourced? Harris Baltch is joined by Mark Tibergien, Founder of Mark Tibergien Insights, former CEO of Pershing Advisor Solutions and current Board Member of Pathstone Family Office, and Brad Armstrong, Partner at Lovell Minnick Partners, to delve into the key criteria for ‘M&A deal readiness’, how to access the best COIs for originating high quality M&A opportunities, and more.  

With COVID changing nearly everything about how we live our daily lives, we have learned to adapt to this new normal. In this episode, Matt Ackermann is joined by Mark Tibergien, retired CEO of Pershing Advisor Solutions. Mark shares his experience as an advisor and the influence advisors can have on individuals.  In this episode, … Continue reading Episode 2 – Evolution In The Face Of Adversity – with Mark Tibergien →

Mark Tibergien is joined by guests Ben Harrison, head of Advisor Solutions, BNY Mellon | Pershing, and Liz Nesvold, Managing Director and Head of Asset and Wealth Management Investment Banking, Raymond James. Mark, Ben and Liz discuss what happens when a strategic lever like M&A is impacted unexpected by unpredictable market conditions.

Our guest today is Ben Harrison, who will be named as the head of BNY Mellon's Pershing registered investment advisor (RIA) custody business, succeeding Mark Tibergien, effective June 1, 2020.  He joined Pershing in 2006 and was promoted to lead business development for advisory marketplace solutions on the West Coast in 2013. In 2015, Harrison became the head of business development for the RIA custody business. He took on the additional role of relationship management in 2019. He has been serving in his current role since then.  In this episode, we discuss the growth Pershing has had since he started his career, trends within the custody industry, lessons he learned from Mark Tibergien, and why he's bullish on advice. Follow the CFA Society of Orlando on Twitter at @CFAOrlandoFL (0:38)  —  Colby Donovan and Steve Curley introduce the podcast (1:50 ) — Introduce Ben Harrison and his background (4:35) – Future of the custodian business (14:20) – What he's learn from Mark Tibergien (17:30) – Pershing's focus on the Central Florida market (19:55) – What separates Pershing from competitors (22:00) – Where to reach him: LinkedIn (22:08) – Who is the one person you'd love to have a conversation with right now? (22:55) - What are you most pessimistic and optimistic about in the world right now?

In just a few months, the pandemic has changed the world around us - but what will be the lasting impact of this for investors, consumers, financial advisors and participants of the global economy? Mark Tibergien and Matt Forester, CIO, Lockwood at BNY Mellon | Pershing, explore the fantastic and fatiguing nature of the pandemic and ponder what the markets and economy might look like when we're through the other side.

Ben Harrison from BNY Mellon's Pershing discusses the role a custodian plays in the lifecycle of an independent business, taking over for retiring industry icon Mark Tibergien as the head of Pershing's RIA custody unit, the COVID-19 crisis, and more.

Ben Harrison from BNY Mellon’s Pershing discusses the role a custodian plays in the lifecycle of an independent business, taking over for retiring industry icon Mark Tibergien as the head of Pershing’s RIA custody unit, the COVID-19 crisis, and more.

In this episode, Mark Tibergien and Matt Forester, Chief Investment Officer, Lockwood Advisors, BNY Mellon's Pershing, discuss what we know – and what we think we know – about the coronavirus and its impact on the economy.

In this episode, Mark Tibergien and Matt Forester, Chief Investment Officer, Lockwood Advisors, BNY Mellon's Pershing, discuss key issues advisors and investors should be thinking about when it comes to financial decision-making and behaviors.

In this episode, Mark Tibergien and Jeff Strese, Chief Talent Officer, Tolleson Wealth Management, discuss the dearth of new talent in the RIA business, and the importance of cultivating a talent pipeline—including techniques for attracting, developing and retaining young professionals.

In this episode, Amy Webber, CEO, Cambridge Investment Research, and Mark Tibergien discuss the key components that influence a strong client relationship - from first meeting and beyond.

100th episode Part 2 Sell: Selling your business has never been easier or has it? Mark Tibergien has been helping companies merge, acquire, sell and grow using tried and tested methods. Listen to the best selling author and industry pundit about whats makes a business worth more and how to value your best assets. #m&a #mergers

100th episode Part 2 Sell: Selling your business has never been easier or has it? Mark Tibergien has been helping companies merge, acquire, sell and grow using tried and tested methods. Listen to the best selling author and industry pundit about whats makes a business worth more and how to value your best assets. #m&a #mergers

This episode features Mark Tibergien, Chief Executive Officer of Advisor Solutions at BNY Mellon | Pershing. In this episode, we chat about career paths in financial planning, how we can elevate the profession, and the importance of reverse mentoring. Mark also shares insightful information on making the most of your career as a NexGen planner.

This episode features Mark Tibergien, Chief Executive Officer of Advisor Solutions at BNY Mellon | Pershing. In this episode, we chat about career paths in financial planning, how we can elevate the profession, and the importance of reverse mentoring. Mark also shares insightful information on making the most of your career as a NexGen planner.

Mark joined BNY Mellon | Pershing as head of its RIA and Family Office custody unit in 2007 and is the Chief Executive Officer of Advisor Solutions and a member of Pershing's Executive Committee. Prior to joining Pershing, he was a principal at Moss Adams LLP, where he was partner-in-charge of the Business Consulting Group, and chairman of the Financial Services Industry Group. Since 1973 he has worked on strategy, management development and transition planning with hundreds of independent registered investment advisors (RIAs), broker-dealers, investment managers, insurance companies, and other financial services organizations worldwide. Accounting Today has recognized Mark Tibergien among the 100 Most Influential in the accounting profession, and Investment Advisor magazine recognized him among the 25 Most Influential in the financial services industry. He is the author of four books published by Bloomberg Press (John Wiley & Sons), Practice Made Perfect, How to Value, Buy or Sell a Financial Advisory Practice, Practice Made (More) Perfect and the latest, The Enduring Advisory Firm, co-authored with Kim Dellarocca, Global Head of Marketing for Asset Servicing and Technology at BNY Mellon. Mark has also been a regular columnist for Investment Advisor magazine and monthly contributor to ThinkAdvisor.com on management issues since 2005. Mark has previously served in a variety of community and industry organizations including the Rotary Club of Seattle, Travelers Aid Society, the Foundation for Financial Planning, the International Association for Financial Planning and the SIFMA Foundation. Most recently, Mark was named to the Advisory Council for the Center for Financial Planning whose mission is to promote diversity in the advisory profession. Mark is also a member of BNY Mellon's Diversity & Inclusion Advisory Council to the CEO. What You Will Learn: Mark's role with BNY Mellon | Pershing and what a custodian does Key indicators for determining whether or not you should do a deal The impact of private equity on the RIA industry The projected impact of the upcoming economic downturn What Mark has brought from other industries into the financial services space Business consulting vs. drive-by practice consulting How to connect with Mark Tibergien: Website: https://www.thinkadvisor.com/author/profile/Mark-Tibergien/ Twitter: @MarkTibergien Facebook: https://www.facebook.com/bnymellonpershing LinkedIn: https://www.linkedin.com/in/marktibergien

Mark joined BNY Mellon | Pershing as head of its RIA and Family Office custody unit in 2007 and is the Chief Executive Officer of Advisor Solutions and a member of Pershing’s Executive Committee. Prior to joining Pershing, he was a principal at Moss Adams LLP, where he was partner-in-charge of the Business Consulting Group, and chairman of the Financial Services Industry Group. Since 1973 he has worked on strategy, management development and transition planning with hundreds of independent registered investment advisors (RIAs), broker-dealers, investment managers, insurance companies, and other financial services organizations worldwide. Accounting Today has recognized Mark Tibergien among the 100 Most Influential in the accounting profession, and Investment Advisor magazine recognized him among the 25 Most Influential in the financial services industry. He is the author of four books published by Bloomberg Press (John Wiley & Sons), Practice Made Perfect, How to Value, Buy or Sell a Financial Advisory Practice, Practice Made (More) Perfect and the latest, The Enduring Advisory Firm, co-authored with Kim Dellarocca, Global Head of Marketing for Asset Servicing and Technology at BNY Mellon. Mark has also been a regular columnist for Investment Advisor magazine and monthly contributor to ThinkAdvisor.com on management issues since 2005.Mark has previously served in a variety of community and industry organizations including the Rotary Club of Seattle, Travelers Aid Society, the Foundation for Financial Planning, the International Association for Financial Planning and the SIFMA Foundation. Most recently, Mark was named to the Advisory Council for the Center for Financial Planning whose mission is to promote diversity in the advisory profession. Mark is also a member of BNY Mellon’s Diversity & Inclusion Advisory Council to the CEO.What You Will Learn:Mark’s role with BNY Mellon | Pershing and what a custodian doesKey indicators for determining whether or not you should do a dealThe impact of private equity on the RIA industryThe projected impact of the upcoming economic downturnWhat Mark has brought from other industries into the financial services spaceBusiness consulting vs. drive-by practice consultingHow to connect with Mark Tibergien:Website: https://www.thinkadvisor.com/author/profile/Mark-Tibergien/Twitter: @MarkTibergienFacebook: https://www.facebook.com/bnymellonpershingLinkedIn: https://www.linkedin.com/in/marktibergien See acast.com/privacy for privacy and opt-out information.

In the 12th episode of The COO Roundtable, Matt welcomes Mark Tibergien and Karen Novak of BNY Mellon Pershing.* Mark, CEO, Advisor Solutions, BNY Mellon Pershing is a monumental figure in the RIA space and a true champion of professional management in the RIA industry. Similarly, Karen has contributed thirty years to the financial services industry, twenty-three of which have been at Pershing, where she serves as Chief Operating Officer, Advisor Solutions, BNY Mellon Pershing. With the goal of highlighting the importance of professional management when it comes to the COO role, Matt, Mark, and Karen sit down to discuss what key metrics a COO should consider when seeking to execute the vision for the firm and much more, including: The benefits of a good cultural fit between the CEO and COO and how they can enhance firm-wide growth through a joint effort How Karen helps make Pershing an “employer of choice” by thinking through the employee experience from onboarding through succession planning Mark’s six components of a successful business and how the COO can drive those standards of excellence forward The importance of re-evaluating and adjusting business plans and admitting when the direction of the firm might need resetting Understanding the three biggest trends every firm owner should be mindful of Matt’s unbridled joy at speaking with his personal hero Mark Tibergien (are you familiar with Eddie Van Halen’s idolization of Eric Clapton?) We hope you enjoy, share, and subscribe! You can listen and subscribe on iTunes, Google Play, Spotify, iHeartRadio or Stitcher. Sign up here to be notified of new practice management content added to our blog on a regular basis. *This interview was conducted on November 18th, prior to the Schwab-TD Ameritrade merger announcement on November 21st.

In the 12th episode of The COO Roundtable, Matt welcomes Mark Tibergien and Karen Novak of BNY Mellon Pershing.* Mark, CEO, Advisor Solutions, BNY Mellon Pershing is a monumental figure in the RIA space and a true champion of professional management in the RIA industry. Similarly, Karen has contributed thirty years to the financial services industry, twenty-three of which have been at Pershing, where she serves as Chief Operating Officer, Advisor Solutions, BNY Mellon Pershing. With the goal of highlighting the importance of professional management when it comes to the COO role, Matt, Mark, and Karen sit down to discuss what key metrics a COO should consider when seeking to execute the vision for the firm and much more, including: The benefits of a good cultural fit between the CEO and COO and how they can enhance firm-wide growth through a joint effort How Karen helps make Pershing an “employer of choice” by thinking through the employee experience from onboarding through succession planning Mark’s six components of a successful business and how the COO can drive those standards of excellence forward The importance of re-evaluating and adjusting business plans and admitting when the direction of the firm might need resetting Understanding the three biggest trends every firm owner should be mindful of Matt’s unbridled joy at speaking with his personal hero Mark Tibergien (are you familiar with Eddie Van Halen’s idolization of Eric Clapton?) We hope you enjoy, share, and subscribe! You can listen and subscribe on iTunes, Google Play, Spotify, iHeartRadio or Stitcher. Sign up here to be notified of new practice management content added to our blog on a regular basis. *This interview was conducted on November 18th, prior to the Schwab-TD Ameritrade merger announcement on November 21st.

In this episode, Mark Tibergien, CEO of Advisor Solutions at BNY Mellon | Pershing, is discussing how advisory businesses can support a more diverse financial planning culture, why being committed to elevating others is critical, and so much more. Tune in now!   https://www.2050trailblazers.com/episode/s04e03

In this episode, Jeff and Mark discuss:• Mark's professional journey to his current position as CEO at BNY Mellon | Pershing.• How valuation has changed and evolved over the years and how it is moving into multiples of EBITDA.• Understanding the demographics, your respected competitors, your core strengths, and your definition of success.• Developing niche and emerging markets.Key Takeaways:• Develop a technical specialty, develop an industry specialty, get famous at both.• There is still room in the financial advisory world for smaller organizations.• How you do business today will not necessarily get you to where you want to go. Look at the developments in the marketplace and see how the demographics are changing.• Become the employer of choice to a diverse sector of employees.*"This is such an incredible time to be a financial advisor, but it's also a very threatening time because it's business built on the way Boomers wanted to be served, not the way in which subsequent generations want to be served."* — Mark Tibergien

Our guest on this week's episode of the Long View is none other than Josh Brown, CEO of Ritholtz Wealth Management. Brown's story is unique and inspiring. He began his career as a broker but grew disillusioned with the industry's skewed incentives and practices, eventually pursuing a career as an independent Registered Investment Advisor. Along the way, Brown managed to author an acclaimed book, Backstage Wall Street, and build an enormous following around his blog, "The Reformed Broker," as well as his twitter handle, @reformedbroker. Now he oversees Ritholtz's day-to-day operations in addition to his other duties, which include serving as a regular contributor on CNBC, as a member of fintech firm BrightScope's advisory board, and most recently as a technical advisor on the Showtime hedge fund drama Billions. Introduction and Background  Ritholtz Wealth Management   Josh Brown bio   The Reformed Broker   Josh Brown @reformedbroker  Backstage Wall Street: An Insider’s Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments by Josh Brown  BrightScope Brown's appearance on Showtime's Billions  Origin Story "A personal crisis." Josh describes the epiphany he had in leaving the brokerage industry for the advice business after 10 years (1:20-3:41). "It worked immediately." How the Reformed Broker blog was born and led to a chance meeting with Barry Ritholtz, which gave rise to an RIA (3:42-5:21).  Barry Ritholtz bio Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy by Barry Ritholtz  "How I Met Barry" by Josh Brown, The Reformed Broker blog  The Advice Business "If they haven’t figured it out by now, they probably don’t want to." Observations on how the advice business has changed (5:22-7:29). "Understanding Mutual Fund Classes" by Finra   SEC Regulation Best Interest   Definition of a nontraded REIT  "Brokerages in name only." Why wirehouse clients aren't necessarily being ill-served by the system (7:30-8:09).  Morgan Stanley First Quarter 2019 Earnings Results  James P. Gorman, chairman and CEO of Morgan Stanley  Lending: The key difference between a fee-based account at a Wall Street wirehouse and a fee-based account at a traditional RIA (8:10-10:34). "The Rise of Rich Man's Subprime" by Josh Brown, Fortune magazine  Securities-based lending, explained  How to Provide Financial Advice Telling the client "no." The difference between pushing product and offering advice (10:35-12:16). "When Fund Companies Pay to Play, So Do You" by Leslie Norton, Barron's  "It's recreation; it's not a necessity." Helping clients to scratch an itch without putting their financial plans at risk (12:17-14:53). "Financial planning is the highest calling within our profession." Ensuring clients get past the firm's public persona and truly buy into its plan and approach (14:54-16:46). An ensemble approach to delivering advice to clients: The anti "eat what you kill." (16:47-18:58). Michael Batnick bio   Michael Batnick's "The Irrelevant Investor" blog  Ben Carlson bio  Ben Carlson's "A Wealth of Common Sense" blog  Blair duQuesnay bio   Blair duQuesnay's "The Belle Curve" blog "Consider Firing Your Male Broker" by Blair duQuesnay, The New York Times op-ed  How to Build an Advice Firm "Barry and I don't spread out a map like Napoleon and start sticking thumb-tacks in it." How Brown thinks about strategically expanding the firm (19:04-20:45). "If somebody comes to us in a rush, it's probably a bad situation, and we don't want anything to do with it." The advisor recruitment and weeding-out process (20:46-24:23). Kris Venne bio   Bill Sweet bio  Portfolio Construction and Asset Allocation "You're going to lose money. It's gonna happen. There's no way around it." The firm's approach to allocating assets and setting client expectations (24:24-27:33). Tactical asset allocation's role in their process: "We don't believe in investment alpha using tactical." (27:34-29:33)  Sequence-of-return risk  "What if you had a tactical model that almost never did anything?" How they built their tactical-asset-allocation overlay to help manage client behavior (29:34-33:13). "I hope it underperforms, because most of our clients' money is not invested in tactical." (33:14-35:03) "Every client is different, but their needs are not." Implementing a scalable asset allocation (35:04-37:08). "You want to be wrong in such a way that it's not going to be catastrophic for the end client." How Ritholtz sets capital-markets expectations (37:09-38:41). Managing Client Assets How Ritholtz approaches assets that clients bring in with them: "You've got a human being with their own issues." (38:42-40:58)  Mark Tibergien bio  "The longer I'm doing this, the more stuff I want to take out, not add." Brown explains why they err on the side of excluding various types of investments from client portfolios (40:59-42:33). "Our clients are here because they want us." Brown says fee pressure hasn't been an issue for the firm (42:34-44:22).  Wealth/Stack Conference  Nerd's Eye View blog (Michael Kitces)  The Future of Advice "You're being judged on the portfolio, you should get paid on the portfolio you recommend." Brown is dubious of clients who aren't willing to pay for advice as a percentage of assets under advisement (44:23-46:50). "What People Will Pay For" by Josh Brown, Reformed Broker blog  How a chocolatier's success reinforced the importance of consistency in client interactions: "Standardize the process, personalize the advice." (46:51-50:25)  Hershey Park   Hershey Museum 

Gurinder Ahluwalia, CEO at 280 CapMarkets, discusses bond-trading platform and the fixed-income market. Mark Aldoroty, Head of Prime Services at Pershing, shares trends in hedge funds. Mark Tibergien, CEO of Advisor Solutions, talks about increasing diversity and inclusion in the financial services industry. Michelle Feinstein, Director of Technology at Pershing, explains handling the challenges of digital transformation in business. Mike Everett, VP of Business Development at MyVest, breaks down the role of robo advisors and “goals based” wealth management. Ram Nagappan, Chief Information Officer at Pershing, talks about cybersecurity and the evolution on technology in the financial industry.  Hosts: Carol Massar and Jason Kelly.  Producer: Paul Brennan  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Gurinder Ahluwalia, CEO at 280 CapMarkets, discusses bond-trading platform and the fixed-income market. Mark Aldoroty, Head of Prime Services at Pershing, shares trends in hedge funds. Mark Tibergien, CEO of Advisor Solutions, talks about increasing diversity and inclusion in the financial services industry. Michelle Feinstein, Director of Technology at Pershing, explains handling the challenges of digital transformation in business. Mike Everett, VP of Business Development at MyVest, breaks down the role of robo advisors and “goals based” wealth management. Ram Nagappan, Chief Information Officer at Pershing, talks about cybersecurity and the evolution on technology in the financial industry.  Hosts: Carol Massar and Jason Kelly.  Producer: Paul Brennan 

Corey Kupfer has been working in the business of negotiations for more than 30 years, both as a successful entrepreneur and as an attorney. His goal is to help you strategize, plan for, find, and complete deals that will help your company grow rapidly. This is called “inorganic growth”, and it differs from the traditionally slow, organic growth many are familiar with. In this solo episode of Fueling Deals, Corey discusses the importance of maintaining alignment with your character and values, not only within the scope of doing deals but in all aspects of your business and life. In part one of this special two-part series covering the events and speakers of the two-day DeVoe M&A+ Succession Summit that took place on May 30-31, 2019 at The Harvard Club in New York, Corey Kupfer details the wealth of information shared by luminaries of the RIA industry. Listen to learn what's currently on the minds of Ed Swenson from Dynasty Financial Partners, Rudy Adolf of Focus Financial Partners, Mark Tibergien of BYN Mellon Pershing, David DeVoe of DeVoe & Company, and many other fascinating industry thought leaders as Corey Kupfer recaps day one of the summit! What you'll learn about in this episode: Why the trend is increasingly leaning toward growth deals, rather than deals relating to succession Why David DeVoe believes that "mega firms" will begin to appear in the landscape, and why marketing technology is an emerging trend Why firms with greater overall organic growth are also seeing a higher rate of growth via mergers and acquisitions Why DeVoe & Company weighs discounted cash flow as 85% of their valuation methodology, and why they adjust for situational factors Corey outlines a panel that featured a number of financing sources, and he discusses each of the featured members of the panel Why the marketplace is evolving to support more funding options, and why owner financing for internal successions is less necessary today Ed Swenson of Dynasty Financial Partners announced a new platform called Dynasty Connect to deliver expertise in valuation, M&A readiness, and more features Corey discusses a fireside chat between Rudy Adolf and David DeVoe, where Rudy discussed Focus Financial's commitment to never turn entrepreneurs into employees Mark Tibergien of BYN Mellon Pershing discussed why growth is a major cause of bankruptcy, why the cost of people is a major impact on profitability, and other points around the benefits of growth Why growth is one method firms use to provide a path for their top talent when the owners aren't ready to retire Why growth as a long-term strategy makes sense, but why growth for the sake of growth is evil Additional resources: Website: www.fuelingdeals.com

Corey Kupfer has been working in the business of negotiations for more than 30 years, both as a successful entrepreneur and as an attorney. His goal is to help you strategize, plan for, find, and complete deals that will help your company grow rapidly. This is called “inorganic growth”, and it differs from the traditionally slow, organic growth many are familiar with. In this solo episode of Fueling Deals, Corey discusses the importance of maintaining alignment with your character and values, not only within the scope of doing deals but in all aspects of your business and life.In part one of this special two-part series covering the events and speakers of the two-day DeVoe M&A+ Succession Summit that took place on May 30-31, 2019 at The Harvard Club in New York, Corey Kupfer details the wealth of information shared by luminaries of the RIA industry. Listen to learn what’s currently on the minds of Ed Swenson from Dynasty Financial Partners, Rudy Adolf of Focus Financial Partners, Mark Tibergien of BYN Mellon Pershing, David DeVoe of DeVoe & Company, and many other fascinating industry thought leaders as Corey Kupfer recaps day one of the summit!What you’ll learn about in this episode:Why the trend is increasingly leaning toward growth deals, rather than deals relating to successionWhy David DeVoe believes that "mega firms" will begin to appear in the landscape, and why marketing technology is an emerging trendWhy firms with greater overall organic growth are also seeing a higher rate of growth via mergers and acquisitionsWhy DeVoe & Company weighs discounted cash flow as 85% of their valuation methodology, and why they adjust for situational factorsCorey outlines a panel that featured a number of financing sources, and he discusses each of the featured members of the panelWhy the marketplace is evolving to support more funding options, and why owner financing for internal successions is less necessary todayEd Swenson of Dynasty Financial Partners announced a new platform called Dynasty Connect to deliver expertise in valuation, M&A readiness, and more featuresCorey discusses a fireside chat between Rudy Adolf and David DeVoe, where Rudy discussed Focus Financial's commitment to never turn entrepreneurs into employeesMark Tibergien of BYN Mellon Pershing discussed why growth is a major cause of bankruptcy, why the cost of people is a major impact on profitability, and other points around the benefits of growthWhy growth is one method firms use to provide a path for their top talent when the owners aren't ready to retireWhy growth as a long-term strategy makes sense, but why growth for the sake of growth is evilAdditional resources:Website: www.fuelingdeals.com See acast.com/privacy for privacy and opt-out information.

Welcome to CFP Board Certificant Connections, a podcast powered by the Certified Financial Planner Board of Standards. CFP Board is the professional standard-setting body for more than 83,000 CFP® professionals nationwide! In each episode, CFP Board discusses the latest in the financial planning profession, takes a deep dive into a key topic, and answers your questions about financial planning.   Jessica Lewis talks with Marilyn Mohrman-Gillis, Executive Director of CFP Board and Mark Tibergien, CEO of BNY Mellon’s Pershing about the new Career Paths Guide available to businesses employing CFP® professionals.   Key Takeaways [:30] Jessica Lewis, communications specialist at CFP Board introduces Marilyn Mohrman-Gillis, Executive Director of CFP Board and Mark Tibergien, CEO of Advisor solutions at BNY Mellon’s Pershing. [1:07] Marilyn talks about what the Center for Financial Planning’s mission is as well as the reason for, and the manner in which the Career Paths Guide was created. [2:19] Marilyn thanks the signature sponsor: BNY Mellon’s Pershing, the research partner: The Ensemble Practice as well as the founding sponsors: TD Ameritrade Institutional; Northwestern Mutual; Envestnet; Charles Schwab Foundation. [2:55] Mark dives into why it was important to WDAG to create this guide as well as how it will tangibly help in any workplace hiring or looking to hire CFP® professionals. [5:53] How are employers anticipated to use this guide and what use will it be to them? Mark speaks on each of the five ladder rungs that are to be achieved by a CFP® professional in order to progress to the next, as well as expected compensation for each of those levels. [7:42] How does a clear career path help give credence to the notion of financial planning as a true profession? [9:18] Will putting this Career Paths Guide in place help advance the diversity in the profession? [11:21] Marilyn thanks Mark for his leadership in creating this guide and Jessica invites listeners to download the guide at the CenterforFinancialPlanning.org/CareerPaths.   Thank you for listening to Certificant Connections; for more information on any of the topics we discussed today, visit our website and check out our blog.   To submit questions, email us at podcast@cfpboard.org.   If you enjoyed the show, we hope you visit Apple Podcasts, Spotify, Stitcher or wherever you listen to your podcasts to subscribe, rate and leave us a quick review.   Join us next time for another edition of Certificant Connections.   Mentioned in this episode The Center for Financial Planning’s Career Path Guide: Financial Planning Career Paths Building More Sustainable and Successful Businesses Signature sponsor: BNY Mellon’s Pershing Research partner: The Ensemble Practice Founding sponsor: TD Ameritrade Institutional Founding sponsor: Northwestern Mutual Founding sponsor: Envestnet Founding sponsor: Charles Schwab Foundation   Bios Jessica Lewis is a communications specialist at Certified Financial Planner Board of Standards, Inc. (CFP Board).   Marilyn Mohrman-Gillis, Esq. is the Executive Director of Certified Financial Planner Board of Standards, Inc. (CFP Board).   Mark Tibergien is Chief Executive Officer of Advisor Solutions at BNY Mellon’s Pershing.

I am thrilled to announce the launch of The COO Roundtable, Powered by PFI Advisors; our latest endeavor in championing the role of operations professionals within the RIA industry. This podcast series will feature panel discussions with Chief Operating Officers at some of the country’s leading independent firms. We plan to highlight operational best practices and the benefits that professional management can bring to an RIA. Our inaugural guests will be the COOs most recently highlighted in PFI Advisors’ white paper, “Exploring the Benefits of Professional Management for RIAs – A Deeper Look into Chief Operating Officers:” Gary T. Bonner of Avalon Advisors, Jeff Fuhrman of Coastal Bridge Advisors, Michael Lee of LourdMurray, and Anthony Craun of Sand Hill Global Advisors. We view this podcast as a natural extension of our core mission here at PFI Advisors: To further evolve the RIA industry from a collection of practices to businesses, and to be a continued voice in validating the industry as a legitimate landing spot for billion-dollar teams and their clients. With the goal of shedding light on the tremendously important work COOs perform every day in the trenches, this podcast is a bit of a passion project of mine, as I have seen throughout my 20-year career in financial services that operations professionals are widely viewed as “cost centers” and not “revenue generators” within sales organizations. Industry luminaries such as Mark Tibergien, David Canter, and Philip Palaveev have been advocating for the professionalization of our industry for some time, and we intend to demonstrate that without leveraging a Chief Operating Officer, RIAs cannot achieve the organic or inorganic growth initiatives they set for themselves. We strongly believe that COOs are needed to free the owners of these organizations from the daily minutiae of running a business. As Jeff Fuhrman said during his interview for our recent white paper, “It’s the Chief Operating Officer’s duty to be in the wings, supporting the role of the advisor. Leave the management of the firm to the COO, and they will make sure advisors get what they need so they can do the most effective job for their clients.” We at PFI Advisors are declaring 2019 as the “Year of the COO” in the RIA Industry and aim to spend the year illuminating the hard work successful Chief Operating Officers bring to their respective firms through The COO Roundtable. Our featured COOs will discuss how they overcome challenges pertaining to the day-to-day administration of their firms; how they maintain a holistic view of their organization’s culture; how they drive workflow improvements; and how they navigate the human resources element of being a COO, all at once.

I am thrilled to announce the launch of The COO Roundtable, Powered by PFI Advisors; our latest endeavor in championing the role of operations professionals within the RIA industry. This podcast series will feature panel discussions with Chief Operating Officers at some of the country’s leading independent firms. We plan to highlight operational best practices and the benefits that professional management can bring to an RIA. Our inaugural guests will be the COOs most recently highlighted in PFI Advisors’ white paper, “Exploring the Benefits of Professional Management for RIAs – A Deeper Look into Chief Operating Officers:” Gary T. Bonner of Avalon Advisors, Jeff Fuhrman of Coastal Bridge Advisors, Michael Lee of LourdMurray, and Anthony Craun of Sand Hill Global Advisors. We view this podcast as a natural extension of our core mission here at PFI Advisors: To further evolve the RIA industry from a collection of practices to businesses, and to be a continued voice in validating the industry as a legitimate landing spot for billion-dollar teams and their clients. With the goal of shedding light on the tremendously important work COOs perform every day in the trenches, this podcast is a bit of a passion project of mine, as I have seen throughout my 20-year career in financial services that operations professionals are widely viewed as “cost centers” and not “revenue generators” within sales organizations. Industry luminaries such as Mark Tibergien, David Canter, and Philip Palaveev have been advocating for the professionalization of our industry for some time, and we intend to demonstrate that without leveraging a Chief Operating Officer, RIAs cannot achieve the organic or inorganic growth initiatives they set for themselves. We strongly believe that COOs are needed to free the owners of these organizations from the daily minutiae of running a business. As Jeff Fuhrman said during his interview for our recent white paper, “It’s the Chief Operating Officer’s duty to be in the wings, supporting the role of the advisor. Leave the management of the firm to the COO, and they will make sure advisors get what they need so they can do the most effective job for their clients.” We at PFI Advisors are declaring 2019 as the “Year of the COO” in the RIA Industry and aim to spend the year illuminating the hard work successful Chief Operating Officers bring to their respective firms through The COO Roundtable. Our featured COOs will discuss how they overcome challenges pertaining to the day-to-day administration of their firms; how they maintain a holistic view of their organization’s culture; how they drive workflow improvements; and how they navigate the human resources element of being a COO, all at once.

Mark Tibergien, the CEO of BNY Mellon Pershing Advisor Solutions, shares his thoughts on the momentum towards independence, the evolving advisor mindset, what it takes to run a successful practice and much more on this podcast episode.

Mark Tibergien is a titan in the financial services profession. He's "industry famous" for his deep understanding of how the investment community should grow their companies and their people. And he was then paired with Kayla Flaten, a Millennial, to be mentored. It's called reverse mentoring and Mark, though initially skeptical, has become a disciple of the process and he and Kayla walk us through what it is, how it works, and how we should all take reverse mentoring to heart. 

Carol broadcasts from BNY Mellon Insite 2018 in Orlando and he speaks to Jim Crowley, Chief Operating Officer at Pershing, on investing for future success. Jim McKelvey, Co-Founder at Square, talks about bliss and innovation. Mark Tibergien, CEO at Pershing Advisor Solutions, shares his work on financial literacy. Tom Sholes, Chief Strategy Officer at Pershing, discusses financial solutions and delivering a better advisor experience. Mark Aldoroty, Head of Prime Brokerage at Pershing, explains why to invest in alternatives. Charles Scharf, Chief Executive Officer of BNY Mellon, talks about what's important to watch in technology.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carol broadcasts from BNY Mellon Insite 2018 in Orlando and he speaks to Jim Crowley, Chief Operating Officer at Pershing, on investing for future success. Jim McKelvey, Co-Founder at Square, talks about bliss and innovation. Mark Tibergien, CEO at Pershing Advisor Solutions, shares his work on financial literacy. Tom Sholes, Chief Strategy Officer at Pershing, discusses financial solutions and delivering a better advisor experience. Mark Aldoroty, Head of Prime Brokerage at Pershing, explains why to invest in alternatives. Charles Scharf, Chief Executive Officer of BNY Mellon, talks about what's important to watch in technology. 

Mark Tibergien is Chief Executive Officer of Pershing Advisor Solutions, prior to which he was a principal at Moss Adams LLP. Mark has worked with hundreds of public and private companies on matters related to business management, transition planning and strategy formulation, since 1976. […] The post Mark Tibergien on Brand, Culture and Referability appeared first on Becoming Referable.

Want to avoid huge mistakes in your business? Autthor and all around amazing guy, Mark Tibergien CEO of Pershing Advisory Solutions joins me on the Podcast. We discuss how to build more value in your business. How pricing has become more sophisticated when it comes to buying businesses. Even though Mark's books apply to Financial Advisory businesses the practices really can be applied to make your business so much better, TODAY! Join me on this 30 min interview with one of the men who I designed my business and coaching style around.

Want to avoid huge mistakes in your business? Autthor and all around amazing guy, Mark Tibergien CEO of Pershing Advisory Solutions joins me on the Podcast. We discuss how to build more value in your business. How pricing has become more sophisticated when it comes to buying businesses. Even though Mark's books apply to Financial Advisory businesses the practices really can be applied to make your business so much better, TODAY! Join me on this 30 min interview with one of the men who I designed my business and coaching style around.

Mark Tibergien, CEO of Pershing Advisor Solutions, discusses advisory trends, the needs of high net-worth investors and the future of the financial services industry. Simon Roy, the president and CEO of Invesco's robo-adviser, Jemstep, talks about upending the wealth management industry and why the financial future lies with bionic advisers.

Mark Tibergien is the current CEO of Pershing Advisor Solutions, an advisement firm custodian to some of the wealthiest practices and clients in the world. Pershing is part of BNY Mellon, which oversees $33 trillion in assets globally. Mark was formerly a part of Moss Adams, where he pioneered the benchmarking studies that helped define and continue to shape the industry today. In this episode, you’ll hear about how Mark got recruited into the early financial planning world back when he was still an aspiring journalist. He then talks about how his benchmark studies at Moss Adams helped him become one of the foremost authorities on professional practice management. Mark also shares the four stages of an advisory firm’s lifecycle, and the key roles that great leadership and people skills play in the establishment of a successful firm. Get the full show notes and transcript for this episode at: https://www.kitces.com/5