Podcasts about Pershing

Coach is "carrying the company" while Kate Spade sales decline, says Diane King Hall, who takes investors through Tapestry (TPR) earnings as shares sell off. Elsewhere in retail, Five Below (FIVE) rallied after Jefferies upgraded the stock. Diane turns to the streaming space and discusses Pershing Square's new stake in Netflix (NFLX). ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

August 12, 2026Dr. Kelly Hill, Senior Director of Hospital Operations at DMH & Dr. Mohit Ajmeri, Family Medicine Physician at Memorial Care, joined Byers & Co to talk about the Memorial Therapy Center on Pershing and their open House on Thursday August 13th from 4pm to 5:30pm. Listen to the podcast now!See omnystudio.com/listener for privacy information.

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

  Nick Lloyd concludes with the arrival of General John J. Pershing and the American Expeditionary Force in 1917, which fundamentally shifted the war's atmosphere despite the initial lack of a prepared army. Pershing famously resisted "amalgamation," refusing to allow American soldiers to serve directly under French or British officers, insisting instead on a semi-independent American command. By 1918, the sheer volume of American manpower convinced Germanleadership that the war was lost, as the German army began to fall apart under the pressure of Foch's coordinated multinational attacks. Lloyd explicitly debunks the "Stab in the Back" legend, asserting that the German military was decisively defeated on the battlefield and sued for peace due to exhaustion. Although the Allies chose an armistice rather than a costly invasion of Germany, this decision was based on the total exhaustion of the British and French forces rather than a lack of military victory. (8)1914-1918

Nick Lloyd. Guest Nick Lloyd concludes with the American entry under General John J. Pershing in June 1917. Pershing arrived without an army but adamantly resisted "amalgamation," the Allied demand to fold American troops into French and British units. Lloyd explains that Pershing insisted on maintaining a semi-independent force, despite the desperate pleas of leaders like Lloyd George during the 1918 crisis. The Germans fatally underestimated American resolve, believing it would take years for them to become a factor. However, by 1918, the American contribution became decisive, enabling Foch's multi-pronged offensive that finally broke the German lines. Finally, Lloyd addresses the "stab in the back" myth, asserting that the German army was undeniably defeated on the battlefield and was falling apart by the time of the armistice. He defends the decision not to invade Germany, noting that the exhausted British and French populations could not have sustained further conflict. 819181 BELLEAU WOOD

Today we dine at Minetta Tavern with a very special guest - Bill Capuzzi. Bill has spent decades in financial services, holding leadership roles across firms like Pershing. As CEO of Apex Fintech Solutions, he's helped build the backbone for many of the platforms people use to invest today, even if they don't realize it. Apex is the infrastructure behind the apps, the part that actually makes them work. While others chase the market, Bill helps build it. Timecodes 00:00 - Intro 01:07 - Meet Bill Capuzzi at Minetta Tavern 02:38 - Med School to Wall Street Executive 04:59 - Leaning in Technology in Investing 08:23 - Apex and Their Clients 09:43 - AI, Customer Service & Risk Management 12:05 - ChatGPT, AI & the Future of Work 15:39 - How Fintech Eliminated Wall Street Paperwork 17:36 - Why Apex Is Building Brand Awareness 18:18 - Bill's Advice for New Investors Standing Table is made possible through our continued partnership with Apex Fintech Solutions. Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, custody and clearing. For more information, visit the Apex Fintech Solutions website: ⁠https://apexfintechsolutions.com/⁠ LinkedIn: ⁠https://www.linkedin.com/company/apex-fintech/ —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal MediaThe financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Kris is a former conscript in the West German Bundeswehr during the Cold War. He shares his experiences from the moment he received his conscription notice at 17, ultimately joining the Luftwaffe, where he served with the Pershing nuclear missile system. Basic training was a rite of passage filled with challenges. Kris recounts the camaraderie formed with fellow recruits and the harsh realities of military life. Still, it was during this time that he learned valuable lessons about discipline, teamwork, and resilience. As the conversation unfolds, we explore the operational aspects of the Bundeswehr, including the use by West German troops of nuclear weapons. Reflecting on his service, he offers a candid assessment of his time in the military. While there were moments of frustration and a sense of wasted time, he ultimately recognises the profound impact that this experience had on his life. The skills he learned and the friendships he forged would shape his future in ways he never anticipated. Episode extras ⁠⁠https://coldwarconversations.com/episode457 Help me preserve Cold War history via a simple monthly donation, You'll become part of our community, get ad-free episodes, and receive a sought-after CWC coaster as a thank-you, and you'll bask in the warm glow of knowing you are helping to preserve Cold War history. Just go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://coldwarconversations.com/donate/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ If a monthly contribution is not your cup of tea, we also welcome one-off tips via the same link. Find the ideal gift for the Cold War enthusiast in your life! Just go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://coldwarconversations.com/store/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ CONTINUE  THE COLD WAR CONVERSATION o BlueSky ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bsky.app/profile/coldwarpod.bsky.social⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ o Threads ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.threads.net/@coldwarconversations⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ o Twitter/X ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/ColdWarPod⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ o Facebook ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/groups/coldwarpod/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ o Instagram ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/coldwarconversations/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ o Youtube ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://youtube.com/@ColdWarConversations⁠⁠⁠⁠ Learn more about your ad choices. Visit podcastchoices.com/adchoices

With the Mandalorian & Grogu coming to the theaters very soon, we are going back to The Mandalorian.  We got a twist, big T & LIL t have 1 minute a piece to break down the episode.  Season 3 Episode 19 - "The Convert". Bo and Mando show up at the Covert. This is the Dr. Pershing epsiode that no one liked. We love it and think it is fun lore and the Empire is still at work. Pershing gets mindflayed and the Empire secrets remain.  Drop as a voice memo or email at bigtliltpodcast@gmail.com. big T & LIL T

It's time for one last look back before The Mandalorian and Grogu as Arezou and Candace talk about The Mandalorian Season 3, their memories of watching the season, and speculate on what they hope to see in the movie.Listen to Candace's interview with Jon Favreau and Dave Filoni for The Mandalorian and Grogu and Arezou and Candace's interview with Dr. Pershing himself, Omid Abtahi.Waffle Links:https://bsky.app/profile/arezouamin.bsky.socialhttps://bsky.app/profile/thegeekywaffle.bsky.socialhttps://bsky.app/profile/candacekaw.bsky.socialhttps://x.com/ArezouAminhttps://x.com/candaceisageekhttps://x.com/spacewafflespodhttp://thegeekywaffle.com/https://x.com/Geeky_Wafflehttps://www.facebook.com/thegeekywafflehttps://www.instagram.com/thegeekywaffle/https://www.youtube.com/c/thegeekywafflehttps://www.tiktok.com/@thegeekywafflehttps://www.patreon.com/thegeekywaffle

The Mandalorian Chapter 19: The Convert.Episode 19 of The Mandalorian, THE CONVERT, promised time to explore Bo Katan's religious experience with Din Djarin during his dive in “The Mines of Mandalore.” But it takes a sharp left after a thrilling TIE Interceptor battle in space and atmosphere. It goes on to deliver:- The fate of Doctor Pershing, the mad scientist who cared for Grogu even though he did mad scientist experiments on him;- Details about the Republic's attempts to assimilate Ex-Imperials back into regular life;- Travel biscuits that, in the 1980s, would have been turned into Pepperidge Farm goodies sold at Safeway;- Details about Republic bureaucracy that seem fit for a different show that got cancelled before it was made;- Maybe an indication of bribery? Deep conspiracy? Something?Did this third episode of Season 3 continue the excellent momentum from the second episode, or was it as much a descent into madness for the audience as it was for Pershing?As we all anticipate the release of The Mandalorian & Grogu,  John & Matt are celebrating with a rewatch and detailed discussions of The Mandalorian, Season 3. Join them as they debate and analyze on the most fun Star Wars podcast on the internet!HostJohn Mills and Matthew RushingYou've found the best Star Wars podcast with one-of-a-kind discussions in the spirit of fun! While you're here, look around our creator-focused network of podcasts with all the best of Star Trek, a deep-dive read of Harry Potter's magical world, analysis of film's greatest directors, and breaking news from top names in international film festivals, and so much more!Send us your feedback!Twitter: @TheJediMasters   Facebook: https://www.facebook.com/TheNerdParty/ Email: http://www.thenerdparty.com/contactSubscribe in Apple Podcasts

The Western Front: Commanders and the Great War 9 sources·APRIL 11, 2026These sources primarily consist of interview transcripts with historian Nick Lloyd, who discusses his comprehensive research on the Western Front during the Great War. He highlights the complex coalition warfare between the Allied powers and the evolving military strategies used to combat the German army's maneuvers. The text examines the distinct personalities and high-stakes decisions of key figures like Joffre, Petain, and Pershing as they navigated the transition from mobile conflict to trench warfare. Additional segments focus on the logistical challenges of manpower, the friction between political and military leaders, and the arrival of American forces in 1917. Interspersed throughout are brief faith-based testimonials from Walnut Hill Community Church regarding personal recovery and community support. Together, the materials provide a multifaceted look at the military history of World War I and the lasting impact of its unresolved tensions.1. Nick Lloyd discusses the complex dynamics of early British leadership, including Prime Minister Asquith, Lord Kitchener, and Sir John French. He highlights the British Army's massive expansion from a small expeditionary force to 60 divisions and the eventual rise of David Lloyd George as a wartime leader. (1)1942

Vi kjenner til anti-amerikanismen som har preget utenriksdekningen i NRK i tiår. Men det vi nå står overfor er noe helt annet. Før slåss man om utplassering av Pershing-raketter i Europa på 70-tallet. I dag bærer de iranske rakettene bilder av Spanias statsminister Pedro Sanchez. Det kunne like gjerne vært NRKs Sidsel Wold.Krig har normalt fått i det minste amerikanere til å slutte rekkene, nå går Demokratene og liberale medier til angrep på presidenten og de ønsker et nederlag for USA. Det gjør også norske medier. Det er historisk og vitner om en polarisering uten sidestykke.I Vest-Europa er anti-amerikanismen så sterk i mediene at pro-Trump-stemmer nesten ikke er hørbare. Selv i konservative Telegraph er det mange som omtaler Trump som farlig og skadelig.Det er vanskelig å finne noen parallell i vestlig historie. Men den blir ikke erkjent.Grunnen til at vi kan slå dette fast er styrken i de alternative mediene i USA. De overtar. Tilliten til liberale medier er rekordlav. Det får ikke nordmenn vite. De tror fortsatt på NRK-virkeligheten, men den undergraves av mangel på mot kontradiksjon.For at opinionen skal være levende må det reises motforestillinger og innvendinger.Det gjør det ikke i norske medier.Det gjelder alt fra rente til grønt skifte. Vannet renner bare i én retning.Men det er krigen mot Trump som har vært den store oppdragerkampanjen: Folk tar det de hører om Trump som en selvfølgelighet. Alle medier og alle "eksperter" sier jo det samme.Trump-kampanjen har vært en eneste lang oppisking at hat mot en president som amerikanerne har valgt tre ganger. Den siste gangen med et så overveldende flertall at det ikke kunne anfektes.Men nå sier Demokratene og liberale medier at Trump tenker bruke ICE til å manipulere valget både i november og i presidentvalget i 2028. De leser konspirasjon inn i nyheter, som at ICE settes inn på flyplasser der Demokratene har stanset finansieringen av flyplasskontrollører i TSA.Det bygges nå opp til at det er Trump som vil kuppe valget fordi han ellers vil tape.Mediene bygger opp til at bare de er til å stole på. Nå kjører NRK en kampanje om amerikanske techselskaper ikke er til å stole på. Avstanden til USA blir stadig større.Støre arrangerte det som var et fraksjonsmøte i Norden pluss Canada i Oslo for to uker siden. Påfølgende onsdag kom generalsekretær i Nato, Mark Rutte, på besøk og ga Støre en skikkelig overhaling på vegne av USA.Hvis Støre fortsetter langs samme kurs risikerer Norge å stå alene og bare signalet om dette vil sende sjokkbølger gjennom Norge.Slik går det når man velger moralsk overlegenhet fremfor realpolitikk. Støre tror han kan gå på vannet.

Most CEO stories start with an Ivy League credential and a tidy career ladder, but this one starts with a blackjack table.Before Natalie Wolfsen was running Orion, she was dealing cards to pay for college. At the time, she had no idea that the lessons she was learning on that casino floor would follow her all the way to the C-suite.In this episode, Natalie opens up about the chapters that don't fit neatly on a résumé and why she believes those are often the most important ones.Listen in to hear: How she parlayed casino marketing into a career in financeWhy she walked away from a thriving role at American Express to try entrepreneurshipThe startup that failed in 8 months and why she'd do it again in a heartbeatHow saying yes to "inconvenient" opportunities compounded into a career she never could have plannedMore about Natalie Wolfsen: Natalie Wolfsen joined Orion Advisor Solutions as CEO in October 2023 and is a member of the firm's Board of Directors. She is the former CEO of AssetMark and has nearly 30 years of financial services industry experience. For over 25 years, Natalie has served independent advisors (RIA and broker-dealer affiliated) with more than a decade of working with independent and insurance broker-dealers. Prior to joining AssetMark in 2014, Natalie previously held digital and investment platform development, investment solution management, strategy and marketing roles at First Eagle Investment Management, Pershing, Charles Schwab and American Express. Natalie has an MBA from University of California, Los Angeles and a Bachelor of Arts degree from University of California, Berkeley. ---Running a fund is hard enough.Ops shouldn't be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Jason Wenk joined as the featured guest on Retireholics. Topics include: Aaron Schumm and Vestwell raise 365 million, SEC backs new $300 gift limit for Advisors, Fred Barstein thinks 401k plans are an illusion, Altruist's Ai platform Hazel is making big waves in wealth management. For those that don't know Jason is the real deal... the firm (Altruist) he founded is a disruptor custodian competing with the likes of Charles Schwab, Fidelity Investments, and Pershing. In 2025 Altruist was valued at approximately 2 Billion dollars!

It doesn't get more packed than this plot-filled sandwich.The Mandalorian's nineteenth chapter, “The Convert,” takes us through two action-packed plotlines: Bo-Katan and Din Djarin's acceptance into the Children of the Watch, and Dr. Pershing's struggle to assimilate into the New Republic.We dive DEEP into World War Two-era denazification programs as we parse Dr. Pershing's journey, asking how the New Republic's approach differed from the Allied Power's and how AI might have been the ultimate reason for Dr. Pershing's failure. We also ask a big question about Bo-Katan's conversion to the Children of the Watch: Was Din Djarin her honeypot?New to Growing Up Skywalker? Come join us for non-toxic Star Wars recaps from a veteran and a new fan. New episodes every Tuesday.Want more Growing Up Skywalker? This is a great time to sign up for our Patreon for bonus audio content! (Visions S3 content is ongoing!)Timestamps:00:00:00 Who Are We?00:01:51 Plot Summary00:09:40 Dr. Pershing and Denazification00:33:42 Project Necromancer Redux 00:40:50 Is Din Djarin A Honeypot Too?00:53:28 Bae Watch01:04:06 Closing Thoughts

From there, the conversation turns to what advisors actually experience on the ground: Cetera's unique ownership with Genstar and the benefits of a “fresh clock”• The breadth of affiliation models and why Cetera calls itself a “forever home”.• How multi-custody (Pershing, Fidelity/NFS, Schwab, self-clearing) helps recruiting and M&A.• Insights on Avantax, Concourse, and ongoing industry consolidation.• Why advisor equity ownership strengthens alignment.• Cetera's focus on organic growth through regional teams and the Growth Line program.• How the firm thinks about transition deals, scale, and long-term profitability.• What advisors may not realize about Cetera's structure, communities, and support model.Frank and Mike also contrast Cetera's approach to scale with other major players, discuss the realities of transition deals in a changing rate environment, and talk about why insurance, tax, and planning-based advice remain central to a “super hybrid” advisor value proposition.If you're an advisor considering independence - or re-evaluating your current platform - this conversation offers a detailed, unscripted look at how Cetera operates, what makes it different, and how it's preparing for what Mike calls a very “dynamic” next ten years in wealth management.Resources:Elite Consulting Partners | Financial Advisor Transitions: https://eliteconsultingpartners.comElite Marketing Concepts | Marketing Services for Financial Advisors: https://elitemarketingconcepts.comElite Advisor Successions | Advisor Mergers and Acquisitions: https://eliteadvisorsuccessions.comJEDI Database Solutions | Data Intelligence for Advisors: https://jedidatabasesolutions.comListen to more Advisor Talk episodes: https://eliteconsultingpartners.com/podcasts/Follow us on LinkedIn: https://linkedin.com/company/eliteconsultingpartners

Not all financial advisors are created equal. Lance Roberts & Jonathan Penn break down the biggest red flags you should watch out for before trusting someone with your financial future. From hidden fees to pushy sales tactics, we'll show you how to separate the pros from the pretenders. Whether you're interviewing a new advisor or reviewing your current one, these insights will help you protect your money and make smarter decisions.

Not all financial advisors are created equal.  Lance Roberts & Jonathan Penn break down the biggest red flags you should watch out for before trusting someone with your financial future. From hidden fees to pushy sales tactics, we'll show you how to separate the pros from the pretenders. Whether you're interviewing a new advisor or reviewing your current one, these insights will help you protect your money and make smarter decisions.

Is it a siege, or more of an infiltration? Regardless, The Mandalorian's Chapter 12, “The Siege,” brings us back to Nevarro—and a plotline we thought we'd seen the end of.This week, we're diving back into Project Necromancer and all of its implications. We talk through the twin difficulties of transferring both consciousness and Force affinity, question who is directing Dr. Pershing's efforts, and ask what the ultimate goal might be. We also give a performance review of Cara Dune as the Marshall, and spin theories on how Rangers of the New Republic might have gone.New to Growing Up Skywalker? Come join us for non-toxic Star Wars recaps from a veteran and a new fan. New episodes every Tuesday.Want more Growing Up Skywalker? This is a great time to sign up for our Patreon for bonus audio content! Timestamps:00:00:00 Who Are We?00:02:45 Plot Summary00:11:08 Influences on This Episode00:13:23 M-Counts, Cloning, and the Force00:35:16 Cara Dune as Marshal—or Ranger?01:01:24 Bae Watch01:06:06 Closing Thoughts

We just got back from the 2nd annual Rebel Scum Con in Frisco, TX, and had an absolute blast! This was the most productive convention we've ever been to! Not only did we host two panels, but we also had the opportunity to speak with many Star Wars alumni, from actors to artists.    The convention, held August 8-10, 2025 is a fan-run event, which means the organizers knew exactly what we wanted! Throughout the next month we will share ALL that content, so in this episode you'll hear from:   Omid Abtahi (Dr. Pershing in THE MANDALORIAN) Eric Walker (the original Mace in THE EWOK ADVENTURE films) Dermot Crowley (General Madine in RETURN OF THE JEDI)   TODAY in Star Wars History 8/12/1980   Once Upon A Galaxy: A Journal of the Making of The Empire Strikes Back, by Alan Arnold, is published by Del Rey.This paperback book includes a journal into the day-to-day making of The Empire Strikes Back, interviews with the cast and crew, and behind-the-scenes photos.       SPONSORS   Small World Vacations is an official sponsor of Skywalking Through Neverland. Contact them for a no obligation price quote at www.smallworldvacations.com. Tell them Skywalking Through Neverland sent you.   SUPPORT THE SHOW   Find out how you can become a part of the Skywalking Force and unlock bonus content.   CONTACT US   Instagram: http://instagram.com/skywalkingpod   Twitter: https://twitter.com/SkywalkingPod   Facebook: https://www.facebook.com/skywalkingthroughneverland   Send emails to share@skywalkingthroughneverland.com and follow us on Facebook.   If you dug this episode, click over to iTunes | Stitcher | YouTube and leave us a review!   Never Land on Alderaan!

We just got back from the 2nd annual Rebel Scum Con in Frisco, TX, and had an absolute blast! This was the most productive convention we've ever been to! Not only did we host two panels, but we also had the opportunity to speak with many Star Wars alumni, from actors to artists.    The convention, held August 8-10, 2025 is a fan-run event, which means the organizers knew exactly what we wanted! Throughout the next month we will share ALL that content, so in this episode you'll hear from:   Omid Abtahi (Dr. Pershing in THE MANDALORIAN) Eric Walker (the original Mace in THE EWOK ADVENTURE films) Dermot Crowley (General Madine in RETURN OF THE JEDI)   TODAY in Star Wars History 8/12/1980   Once Upon A Galaxy: A Journal of the Making of The Empire Strikes Back, by Alan Arnold, is published by Del Rey.This paperback book includes a journal into the day-to-day making of The Empire Strikes Back, interviews with the cast and crew, and behind-the-scenes photos.       SPONSORS   Small World Vacations is an official sponsor of Skywalking Through Neverland. Contact them for a no obligation price quote at www.smallworldvacations.com. Tell them Skywalking Through Neverland sent you.   SUPPORT THE SHOW   Find out how you can become a part of the Skywalking Force and unlock bonus content.   CONTACT US   Instagram: http://instagram.com/skywalkingpod   Twitter: https://twitter.com/SkywalkingPod   Facebook: https://www.facebook.com/skywalkingthroughneverland   Send emails to share@skywalkingthroughneverland.com and follow us on Facebook.   If you dug this episode, click over to iTunes | Stitcher | YouTube and leave us a review!   Never Land on Alderaan!

In this special guest host episode, Larry Pershing from Optimum Retirement Planning talks about how to reduce and manage concentrated holdings in your investment portfolio. Particular emphasis is given to the tax implications and tax management of trying to reduce highly appreciated positions in normal brokerage accountsLinks in this episode:Optimum Retirement Planning's website - https://www.optimumretirementplanning.com/Tenon Financial monthly e-newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

From massive national memorials to simple plaques in tiny villages, the need to remember and try to make sense of World War I was universal. Though World War I memorials stand across the U.S. it wasn't until 2021 that a national World War I Memorial was created in Washington, D.C. To explore the significance of the National World War I Memorial and its place in history, the World War I Podcast hosted Chris Christoper, a member of the Doughboy Foundation Board.To access additional resources and view images of the National World War I Memorial, please visit the Doughboy Foundation website: https://doughboy.org September 12 Symposium Registration: https://thedoughboyfoundation.ticketspice.com/inaugural-world-war-i-symposium-the-generation-that-changed-the-world-voices-from-the-great-war Have a comment about this episode? Send us a text message! (Note: we can read texts, but we cannot respond.) Follow us: Twitter: @MacArthur1880 Amanda Williams on Twitter: @AEWilliamsClark Facebook/Instagram: @MacArthurMemorial www.macarthurmemorial.org

Andy and Larry Pershing from Optimum Retirement Planning share their thoughts on a handful of current events and "hot topics" relating to retirement planning. Specifically, they talk about: The pending "Big Beautiful Bill" tax bill that recently was approved by the House; what's in it, what's not in it, practical planning considerations around it, etc. ( 8:12 )Potential concerns about US debt US government bond defaults ( 34:50 )Talking to kids and heirs about your estate planning and wishes for after you're gone ( 50:02 )Estimated tax payments for people who recently retire ( 59:40 )Sources and tools to consider using to do tax return and estimated tax estimates ( 1:02:27 )The level of the S&P 500's concentration to the top few companies and the technology sector ( 1:06:04 )Whether 1.75% of assets is a reasonable fee for a financial advisor to charge ( 1:19:07 )What to know and consider when keeping money behind in a 401(k) vs rolling it over to an IRA ( 1:26:01 )Links in this episode:Larry's firm - Optimum Retirement PlanningLarry's previous appearance on the Retirement Planning Education Podcast - #081 – Retirement planner chat, with Larry Pershing from Optimum Retirement PlanningTax Foundation's summary of the Big Beautiful BillStephanie Kelton's book - The Deficit MythThe DinkyTown 1040 estimatorThe IRS Tax Withholding EstimatorTenon Financial's August 2024 newsletter about - Employer plan-to-IRA rollover pros and consTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.comMy company newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

About the Lecture: A sequel to Michael Walsh's Last Stands, his new book A Rage to Conquer is a journey through the twelve of the most important battles in Western history. As Walsh sees it, war is an important facet of every culture – and, for better or worse, our world is unthinkable without it. War has been an essential part of the human condition throughout history, the principal agent of societal change, waged by men on behalf of, and in pursuit of, their gods, women, riches, power, and the sheer joy of combat. In A Rage to Conquer, Walsh brings history to life as he considers a group of courageous commanders and the battles they waged that became crucial to the course of Western history. He looks first at Carl Von Clausewitz, the seminal thinker in the Western canon dealing with war. He then moves on to Achilles at Ilium, Alexander at Gaugamela, Caesar at Alesia, Constantine at the Milvian Bridge, Aetius at the Catalaunian Plains, Bohemond at Dorylaeum and Antioch, Napoleon at Austerlitz, Pershing at St.-Mihiel, Nimitz at Midway and Patton at the Bulge with a final consideration of how the Battle of 9/11 was ultimately lost by the U.S. and what that portends for the future. About the Speaker: The author of more than fifteen novels and non-fiction books, Michael Walsh was the classical music critic for Time Magazine and received the 2004 American Book Awards prize for fiction for his gangster novel, And All the Saints in 2004. His popular columns for National Review written under the pseudonym David Kahane were developed into the book, Rules for Radical Conservatives. His books The Devil's Pleasure Palace and The Fiery Angel, examine the enemies, heroes, triumphs and struggles of Western Civilization from the ancient past to the present time. He divides his time between Connecticut and Ireland.

In a special edition of the Arch Eats podcast, co-hosts George Mahe and Cheryl Baehr are back with an exciting scoop for St. Louis food fans. Joining them in the studio is Kurt Eller, the visionary behind the beloved Taco Buddha restaurants. Kurt reveals exclusive details about his highly anticipated third restaurant—from its location and design details to the planned opening timeline. Get the inside scoop straight from the source—and maybe even a sneak peek at your new favorite spot. Listen and follow Arch Eats on YouTube, Spotify, Apple Podcasts, or wherever podcasts are available. New to podcasts? Follow these instructions to start listening to our shows, and hear what you’ve been missing! Have an idea for a future Arch Eats episode? Send your thoughts or feedback by emailing podcasts@stlmag.com. Hungry for more? Subscribe to our Dining newsletters for the freshest coverage on the local restaurant and culinary scene. And follow George (@georgemahe) and SLM on Instagram (@stlouismag). Interested in being a podcast sponsor? Contact Lauren Leppert at lleppert@stlmag.com. Mentioned in this episode: Taco Buddha, Multiple locations. Olio, new location TBD Elaia, new location TBD Bendecito Room, 7405 Pershing, University City, 314-502-9951. Hi-Pointe-Drive-In, Multiple locations. You may also enjoy these SLM articles: More episode of Arch Eats Gastronauts Food Group looks to expand Hi-Pointe Drive-In and Taco Buddha beyond St. Louis Taco Buddha expands with The Bendecido Room in University City See omnystudio.com/listener for privacy information.

#IRAN: WHAT GETS 67 VOTES IN THE US SENATE. HENRY SOKOLSKI NPEC 1919 WC, PERSHING

Originally released in January 2023, CW: SA, violenceOn June 23 1993, after enduring years of physical and emotional abuse, Lorena Bobbitt infamously cut off the p*nis of her sleeping husband, John Wayne Bobbit. The case instantly becomes content for the 24 news cycle and a joke for late night comedians but the backstory is much more sinister. In this episode, we will discuss how Lorena was a victim of domestic abuse during a time when there were no laws and few systems in place to protect or help women stuck in dangerous relationships.We will also examine the trials of John and Lorena, gender bias in the media and the court room, domestic violence and the difficulty of leaving abusive situations. Lastly, we'll go over why this story is still important to talk about thirty years later and ask whether there are more options now than there were then. Sources: Bell, Rachael. "Crimes Below the Belt: Penile Removal and Castration (Chapter 2)". Crime Library. October 5, 2007. Chen, Joyce "Fine, We Can (Briefly) Talk About John Wayne Bobbitt's… Career" Refinery29. February 16, 2019.Effron, Lauren; Dooley, Sean. "John Bobbitt speaks out 25 years after".ABC News. Mead, Rebecca. The Lorena Bobbitt Story Offers New Lessons On Male Vulnerability (February 15, 2019).The New Yorker. Pershing, Linda (2011). ""His Wife Seized His Prize and Cut It to Size": Folk and Popular Commentary on Lorena Bobbitt". Smolowe, Jill; Peterzell, Jay (November 22, 1993). "TIME Magazine-Swift Sword of Justice". Waxman, Olivia. Lorena Bobbitt on Domestic and What She Wants You To Know About Her Case 25 Years Later (June 22, 2018).Time. 20/20 “The Bobbits” ABC News Lorena, Amazon Documentary Series Virginia Vs. Lorena Bobbitt, Court TV.Become a supporter of this podcast: https://www.spreaker.com/podcast/broads-next-door--5803223/support.

U.S. Army's Pershing's Own Ceremonial Band Percussionist Brian Blume stops by to talk about his military music job and his work with TapSpace Publications (02:35), his composition history (22:25), growing up in Indiana with music director parents, and his piano and sports background (30:30), attending Indiana University for undergrad and his drum corps experiences as performer and teacher (42:15), returning to IU for his master's degree (01:04:35), freelancing in Indianapolis after his master's degree, building a portfolio career, and teaching in higher education in Florida (01:12:15), and takes on the Random Ass Questions, including segments on expression in performance, great books, terrible jobs, IU basketball, and The Care of Souls (01:35:05).Finishing with a Rave on the 2025 Documentary Series Great Migrations: A People on the Move (01:58:20).Brian Blume Links: Brian Blume's websiteBrian Blume's Pershing's Own pageBrian Blume's Tapspace pagePrevious Podcast Guests mentioned:Colin Hill in 2019Kevin Bobo in 2017Frank Chapple in 2019Mark Ford in 2023Other links:Glassmen DCIAnthony CironeSteve HoughtonMichael SpiroChris HestinBlue Stars DCIJohn Tafoya“José/beFore John5” - Aurel HolloInterstellar trailerHoney I Shrunk the Kids trailerChronicles of Narnia - C.S. LewisHarry Potter - J.K. RowlingCreativity, Inc. - Ed CatmullCalbert Cheaney highlightsBobby KnightSycamore Drive-InCulver'sStubernic Fantasy - Mark FordJosh TorresThe Care of Souls - Harol SenkbeilRaves:Great Migrations: A People on the Move trailer

John J. Pershing and Douglas MacArthur are both towering figures in American military history—Pershing as the commander of the American Expeditionary Forces (AEF) in World War I, and MacArthur as a key leader in World War II and the Korean War. In terms of age, they were separated by about 20 years, but they were both First Captains at West Point, both served as U.S. Army Chief of Staff, and both were absolutely devoted to the U.S. Army. Their interactions spanned decades, revealing a dynamic that oscillated between admiration, rivalry, and friction. World War I played a very key role in this complicated relationship. To discuss their interactions during WWI, the World War I Podcast hosted Jim Zobel, MacArthur Memorial Archivist.Have a comment about this episode? Send us a text message! (Note: we can read texts, but we cannot respond.) Follow us: Twitter: @MacArthur1880 Amanda Williams on Twitter: @AEWilliamsClark Facebook/Instagram: @MacArthurMemorial www.macarthurmemorial.org

There are 125 WWI recipients of the Medal of Honor. One of those recipients was Private Thomas Croft Neibaur of the 167th Infantry Regiment, 42nd “Rainbow” Division who received the award for heroism at the Cote de Chatillon in 1918. Neibaur was the first Mormon and the first soldier from Idaho to receive the Medal of Honor. His actions led General John J. Pershing to name him amongst the “Immortal Ten”  of World War I, and yet, in a tragic turn of events, in 1939 Neibaur returned his Medal of Honor. To discuss Neibaur's WWI service and life, the World War I Podcast hosted Sherman Fleek, author of Place the Headstones Where They Belong: Thomas Neibaur, WWI Soldier. Have a comment about this episode? Send us a text message! (Note: we can read texts, but we cannot respond.) Follow us: Twitter: @MacArthur1880 Amanda Williams on Twitter: @AEWilliamsClark Facebook/Instagram: @MacArthurMemorial www.macarthurmemorial.org

A Rage to Conquer: Twelve Battles That Changed the Course of Western History by Michael Walsh Amazon.com Award-winning author Michael Walsh looks at twelve momentous battles that changed the course of Western history. A sequel to Michael Walsh's Last Stands, his new book A Rage to Conquer is a journey through the twelve of the most important battles in Western history. As Walsh sees it, war is an important facet of every culture – and, for better or worse, our world is unthinkable without it. War has been an essential part of the human condition throughout history, the principal agent of societal change, waged by men on behalf of, and in pursuit of, their gods, women, riches, power, and the sheer joy of combat. In A Rage to Conquer, Walsh brings history to life as he considers a group of courageous commanders and the battles they waged that became crucial to the course of Western history. He looks first at Carl Von Clausewitz, the seminal thinker in the Western canon dealing with war. He then moves on to Achilles at Ilium, Alexander at Gaugamela, Caesar at Alesia, Constantine at the Milvian Bridge, Aetius at the Catalaunian Plains, Bohemond at Dorylaeum and Antioch, Napoleon at Austerlitz, Pershing at St.-Mihiel, Nimitz at Midway and Patton at the Bulge with a final consideration of how the Battle of 9/11 was ultimately lost by the U.S. and what that portends for the future.About the author With six critically acclaimed novels, as well as a hit TV movie, journalist, author and screenwriter Michael Walsh has achieved the writer's trifecta: two New York Times best-sellers, a major literary award and, as co-writer, the Disney Channel's then-highest-rated show. The 1998 publication of As Time Goes By -- his long-awaited and controversial prequel/sequel to everybody's favorite movie, Casablanca -- created a literary sensation; translated into more than twenty languages, including Portuguese, Chinese and Hebrew, the story of Rick and Ilsa landed on best-seller lists around the world.

#UKRAINE:Can Europe field a military deployment to Ukraine? Anatol Lieven, Quincy Institute 1919 Churchill and Pershing                

1/2:  #GENERALS AND ADMIRALS:What's wrong with the Three and Four Star protocols?  Captain Steve Deal, USN, (ret) https://responsiblestatecraft.org/trump-fire-military-generals/ 1919 Churchill andd Pershing

THE TRAGEDY BEGINS: 5/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1917 ITALIAN FRONT

THE TRAGEDY BEGINS: 8/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1919 BUCKINGHAM PALACE

THE TRAGEDY BEGINS: 7/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1918 VERDUN

THE TRAGEDY BEGINS: 6/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1917 US MARINES

THE TRAGEDY BEGINS: 3/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1914

THE TRAGEDY BEGINS: 4/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1916

THE TRAGEDY BEGINS: 2/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1914

THE TRAGEDY BEGINS: 1/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1916

THE HUNDRED YEARS WAR, CONTINUING 2024: 7/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1919 Western Front

THE HUNDRED YEARS WAR, CONTINUING 2024: 1/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1918 France

THE HUNDRED YEARS WAR, CONTINUING 2024: 2/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1917

THE HUNDRED YEARS WAR, CONTINUING 2024: 3/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1918 Australia in Palestine

THE HUNDRED YEARS WAR, CONTINUING 2024: 4/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1914 Scotland

THE HUNDRED YEARS WAR, CONTINUING 2024: 5/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1916 Verdun

THE HUNDRED YEARS WAR, CONTINUING 2024: 6/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918 https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1916

THE HUNDRED YEARS WAR, CONTINUING 2024: 8/8: Nick Lloyd, The Western Front: A History of the Great War, 1914-1918   https://www.amazon.com/Western-Front-History-Great-1914-1918/dp/B09NS2DT8X In this epic narrative history, the first volume in a groundbreaking trilogy on the Great War, the acclaimed military historian Nick Lloyd captures the horrific fighting on the Western Front beginning with the surprise German invasion of Belgium in August 1914 and taking us to the Armistice of November 1918. Drawing on French, British, German, and American sources, Lloyd weaves a kaleidoscopic chronicle of the Marne, Passchendaele, the Meuse-Argonne, and other critical battles, which reverberated across Europe and the wider war. From the trenches, where men as young as 17 suffered and died, to the headquarters behind the lines where Generals Haig, Joffre, Hindenburg, and Pershing developed their plans for battle, Lloyd gives us a view of the war both intimate and strategic, putting us amid the mud and smoke while at the same time depicting the larger stakes of every encounter. He shows us a dejected Kaiser Wilhelm II―soon to be eclipsed in power by his own generals―lamenting the botched Schlieffen Plan; French soldiers piling atop one another in the trenches of Verdun; British infantryman wandering through the frozen wilderness in the days after the Battle of the Somme; and General Erich Ludendorff pursuing a ruthless policy of total war, leading an eleventh-hour attack on Reims even as his men succumbed to the Spanish Flu. 1914 Britain