Podcast appearances and mentions of raymond james

What if building wealth has less to do with picking the right investments... and everything to do with having the right plan?In this episode of the Culture Matters Podcast, Jay Doran sits down with Keith Embree, Certified Financial Planner™, MBA, and Financial Advisor at Raymond James, to explore the human side of wealth management. While many people believe financial advisors simply buy and sell investments, Keith reveals that the real value lies in helping families build a framework for life—one that evolves through every season, opportunity, and challenge. Drawing from more than a decade at Raymond James, Keith shares how great financial planning extends far beyond portfolios. The conversation explores discipline, long-term thinking, family legacy, emotional decision-making, and why wealth is ultimately built through consistency rather than chasing the next big opportunity. In this episode, you'll discover:Why the financial plan—not the investments—is the true productHow competitive sports shaped Keith's mindset around discipline and resilienceWhy comprehensive financial planning is much more than managing investmentsThe biggest misconceptions people have about building wealthHow emotions influence financial decisions during volatile marketsWhy starting early matters more than earning moreThe difference between increasing your income and increasing your net worthHow successful families think differently about money, legacy, and future generationsWhy financial advisors often become part strategist, part coach, and part therapistThe importance of making every dollar productiveThroughout the conversation, Keith also reflects on the culture of Raymond James, the mentors who shaped his career, and why serving families—not simply managing accounts—has become the foundation of his approach.Whether you're just beginning your financial journey or thinking about the legacy you hope to leave behind, this episode offers practical wisdom and a refreshing reminder that wealth isn't built overnight. It's built through intentional decisions, thoughtful planning, and the discipline to stay the course.

The biggest risks in energy may still lie ahead.In this episode of Energy Espresso, Jim Wicklund sits down with Marshall Adkins, Managing Director and Head of Energy Investment Banking at Raymond James, to discuss how the Iran conflict, Strait of Hormuz concerns, and shifting global demand have driven oil prices back toward $75.Is the market underestimating what comes next? They explore why crude prices remained relatively resilient despite supply disruptions, China's role in balancing the market, and what's next for oil, inflation, and U.S. production. The conversation also highlights the long-term growth outlook for natural gas, fueled by LNG exports, data centers, and expanding energy infrastructure.00:00 Welcome And Setup00:52 Ceasefire Ends Oil Jumps03:17 Supply Losses And Skepticism05:44 Unprecedented Disruptions06:52 China Demand Management09:46 Refinery Outages Crack Spreads11:10 Why Oil Stayed Low12:42 Inventory Math Breakdown16:52 Tank Bottoms Explained20:12 Politics And SPR Refill21:04 Glut From Trapped Barrels23:41 Hormuz Control And Iran25:51 Iran Regime And Public Optics27:01 IRGC Survival Logic27:54 Hormuz Rerouting Timeline29:09 Product Shortages Inflation30:35 Trump Middle East Leverage32:06 Drill Baby Drill Limits34:55 Oil Market Glut Dynamics37:21 Gas Demand Surge Ahead44:13 Pipelines Unlock Supply47:42 Energy Powers Growth51:57 Final Takeaways Volatility

Netflix maakt zich zorgen over zijn eigen klanten. Ze kijken minder lang en ook minder vaak naar series en films. Er worden (op dit moment) niet veel abonnementen opgezegd, maar toch is Netflix gewaarschuwd. Want: minder kijktijd kan leiden tot minder advertentie-inkomsten en er is een kans de mensen alsnog hun abonnement opzeggen. Daarom heeft Netflix een aantal maatregelen verzonnen. Waaronder een hele opvallende: de streamer wil veranderen in een 24uurs zender. Waardoor de hippe streamingdienst ineens een ouderwetse televisiezender wordt. Deze aflevering kijken we of die stap Netflix écht aan nieuwe abonnees helpt. Ook hoe ze weer een hit van hun aandeel maken. Dat is namelijk in een jaar met 40 procent gedaald! Hebben we het ook over Easyjet. De overname door private equity-partij Castlelake was zo goed als rond. En toen vloog opeens Apollo voorbij. Die overbieden hun concullega's met een paar honderd miljoen en EasyJet zou dat wel zien zitten. Beleggers ook: het aandeel schiet omhoog. Verder hebben we het over de Fed, over de missie van Kevin Warsh. Hij zet meerdere werkgroepen aan het werk die de toekomst van de Fed moeten onderzoeken. Een van die mensen is de oud-topman van Walmart. Ook in deze aflevering: Polymarket is belangrijk voor het rentebesluit SK Hynix is nu ook een beetje Amerikaans Komt er dan toch geen massaontslag bij Volkswagen? SpaceX-aandeel kan naar 800 dollar Te gast: Marc Langeveld van het Antaurus AI Techfund BNR Beurs is een journalistiek onafhankelijke productie, mede mogelijk gemaakt door Saxo. Over de makers: Jelle Maasbach is presentator van BNR Beurs en freelance financieel journalist. Zijn favoriete aandeel om over te praten is Disney, maar daar lijkt hij de enige in te zijn. Sinds de eerste uitzending van BNR Beurs is 'ie er bij. Maxim van Mil is presentator van BNR Beurs en journalist bij BNR, waar hij zich focust op de financiële markten en ontwikkelingen in de tech-wereld. Je krijgt hem het meest enthousiast als hij kan praten over ASML, of oer-Hollandse bedrijven zoals Ahold of ABN Amro. Jorik Simonides is presentator van BNR Beurs, economieredacteur en verslaggever bij BNR. Hij wordt er vooral blij van als het een keer níet over AI gaat. Je hoort hem ook in de BNR-podcast Moerdijk: dorp van de rekening. Milou Brand is presentator van BNR Beurs, freelance podcastmaker en columnist bij het Financieele Dagblad. Jochem Visser is presentator van BNR Beurs, maakt Beursnerd XL en is redacteur bij de podcast Onder Curatoren. Vraag hem naar obscure zaken op financiële markten en hij vertelt je waarom het eigenlijk nóg leuker is dan je al dacht. Over de podcast: Met BNR Beurs ga je altijd voorbereid de nieuwe beursdag in. We praten je in een kleine 25 minuten bij over alle laatste ontwikkelingen op de handelsvloer. We blijven niet alleen bij de AEX of Wall Street, maar vertellen je ook waar nog meer kansen liggen. En we houden het niet bij de cijfers, maar zoeken ook iedere dag voor je naar duiding van scherpe gasten en experts. Of je nu een ervaren belegger bent of net begint met je eerste stappen op de beurs, de podcast biedt waardevolle inzichten voor je beleggingsstrategie. Door de focus op zowel de korte termijn als de lange termijn, helpt BNR Beurs luisteraars om de ruis van de markt te scheiden van de essentie. See omnystudio.com/listener for privacy information.

Netflix maakt zich zorgen over zijn eigen klanten. Ze kijken minder lang en ook minder vaak naar series en films. Er worden (op dit moment) niet veel abonnementen opgezegd, maar toch is Netflix gewaarschuwd. Want: minder kijktijd kan leiden tot minder advertentie-inkomsten en er is een kans de mensen alsnog hun abonnement opzeggen. Daarom heeft Netflix een aantal maatregelen verzonnen. Waaronder een hele opvallende: de streamer wil veranderen in een 24uurs zender. Waardoor de hippe streamingdienst ineens een ouderwetse televisiezender wordt. Deze aflevering kijken we of die stap Netflix écht aan nieuwe abonnees helpt. Ook hoe ze weer een hit van hun aandeel maken. Dat is namelijk in een jaar met 40 procent gedaald! Hebben we het ook over Easyjet. De overname door private equity-partij Castlelake was zo goed als rond. En toen vloog opeens Apollo voorbij. Die overbieden hun concullega's met een paar honderd miljoen en EasyJet zou dat wel zien zitten. Beleggers ook: het aandeel schiet omhoog. Verder hebben we het over de Fed, over de missie van Kevin Warsh. Hij zet meerdere werkgroepen aan het werk die de toekomst van de Fed moeten onderzoeken. Een van die mensen is de oud-topman van Walmart. Ook in deze aflevering: Polymarket is belangrijk voor het rentebesluit SK Hynix is nu ook een beetje Amerikaans Komt er dan toch geen massaontslag bij Volkswagen? SpaceX-aandeel kan naar 800 dollar Te gast: Marc Langeveld van het Antaurus AI Techfund BNR Beurs is een journalistiek onafhankelijke productie, mede mogelijk gemaakt door Saxo. Over de makers: Jelle Maasbach is presentator van BNR Beurs en freelance financieel journalist. Zijn favoriete aandeel om over te praten is Disney, maar daar lijkt hij de enige in te zijn. Sinds de eerste uitzending van BNR Beurs is 'ie er bij. Maxim van Mil is presentator van BNR Beurs en journalist bij BNR, waar hij zich focust op de financiële markten en ontwikkelingen in de tech-wereld. Je krijgt hem het meest enthousiast als hij kan praten over ASML, of oer-Hollandse bedrijven zoals Ahold of ABN Amro. Jorik Simonides is presentator van BNR Beurs, economieredacteur en verslaggever bij BNR. Hij wordt er vooral blij van als het een keer níet over AI gaat. Je hoort hem ook in de BNR-podcast Moerdijk: dorp van de rekening. Milou Brand is presentator van BNR Beurs, freelance podcastmaker en columnist bij het Financieele Dagblad. Jochem Visser is presentator van BNR Beurs, maakt Beursnerd XL en is redacteur bij de podcast Onder Curatoren. Vraag hem naar obscure zaken op financiële markten en hij vertelt je waarom het eigenlijk nóg leuker is dan je al dacht. Over de podcast: Met BNR Beurs ga je altijd voorbereid de nieuwe beursdag in. We praten je in een kleine 25 minuten bij over alle laatste ontwikkelingen op de handelsvloer. We blijven niet alleen bij de AEX of Wall Street, maar vertellen je ook waar nog meer kansen liggen. En we houden het niet bij de cijfers, maar zoeken ook iedere dag voor je naar duiding van scherpe gasten en experts. Of je nu een ervaren belegger bent of net begint met je eerste stappen op de beurs, de podcast biedt waardevolle inzichten voor je beleggingsstrategie. Door de focus op zowel de korte termijn als de lange termijn, helpt BNR Beurs luisteraars om de ruis van de markt te scheiden van de essentie. See omnystudio.com/listener for privacy information.

A Special Industry Update, With Jason Diamond and Mindy Diamond Jason and Mindy Diamond revisit how advisor due diligence is evolving—from AI and enterprise value to firm stability, ownership, and optionality—and why those questions matter more than ever. In Summary Due diligence has always been about finding the right fit. But what advisors are evaluating has expanded considerably. In this replay of an Industry Update, Jason Diamond and Mindy Diamond revisit The Advisor Transition Playbook to explore how advisor priorities continue to evolve. Beyond the traditional reasons advisors consider change, they discuss newer factors shaping decisions today—from artificial intelligence and enterprise value to ownership structure, firm stability, and long-term optionality. The conversation reinforces that while every advisor's motivations are personal, the evaluation process has become far more strategic. Today's advisors aren't simply comparing recruiting deals or platforms. They're considering how today's decisions may influence the value, flexibility, and future of the businesses they're building. The Storyline For years, advisor movement was largely driven by familiar themes: bureaucracy, management changes, technology frustrations, and the desire for greater independence. Those factors remain important. But the conversations Diamond Consultants has with advisors today increasingly include questions that rarely surfaced just a few years ago. How should AI factor into firm selection? What is the long-term value of building enterprise value instead of simply maximizing a recruiting package? How important is a firm's ownership structure? And how should advisors think about stability in a marketplace where acquisitions, recapitalizations, and private equity investment have become commonplace? Jason and Mindy revisit the transition framework introduced in Part 1, focusing less on the mechanics of making a move and more on the evolving criteria advisors are using to evaluate their options. The result is a broader discussion about due diligence—not simply as a transition exercise, but as an ongoing strategic process for advisors seeking to build their best business life. Topics Covered Advisor due diligence Traditional vs. emerging drivers of advisor movement Artificial intelligence in wealth management Enterprise value and advisor ownership Recruiting deals versus long-term economics Reverse due diligence Firm ownership and stability Private equity in wealth management Advisor optionality Building a long-term advisory business Blubrry Player > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why are the traditional drivers of advisor movement still relevant? (4:00) Jason and Mindy revisit the longstanding push-and-pull factors that continue to influence advisor decisions, from bureaucracy and management frustrations to the desire for greater ownership and control. How has AI become part of the due diligence process? (13:50) The discussion explores why advisors increasingly expect firms to demonstrate a clear AI strategy—and why investment, integration, and vision may become meaningful competitive advantages. Why should advisors care about enterprise value, even if they don't technically own their business? (24:30) Jason and Mindy explain why more advisors are evaluating decisions through the lens of long-term business value rather than solely short-term economics. What does reverse due diligence really involve? (37:15) The conversation highlights why advisors should evaluate prospective firms with the same rigor firms use when evaluating advisors. How does firm ownership affect advisor optionality? (38:00) Private equity, acquisitions, and changing ownership structures have made it increasingly important to understand what happens if a firm's strategy changes after an advisor joins. Why has due diligence become more strategic than ever? (45:30) The episode concludes with a broader discussion about defining one's “best business life” and making decisions that align with long-term goals rather than reacting to short-term frustrations. Key Takeaways The reasons advisors evaluate change have expanded well beyond traditional frustrations such as bureaucracy and compensation. AI has become an increasingly important component of firm evaluation, not because it replaces advisors, but because it can enhance productivity and client service. Enterprise value is becoming a consideration even for advisors who currently work within employee models. Reverse due diligence is just as important as a firm's evaluation of an advisor, particularly when assessing ownership structure, capitalization, and long-term stability. The most effective transition decisions balance immediate economics with long-term flexibility, ownership, and optionality. Every advisor's definition of success is different, making clarity around personal goals the foundation of any due diligence process. https://youtu.be/WZbUZJZK1yc Quotable Moments “Every advisor deserves to live their best business life.” “Just because you're frustrated doesn't mean you should move. You need something worth moving toward.” “The question isn't simply what you're paid today. It's what you're building over time.” “Knowledge is power. Understanding what your business is worth should be part of every advisor's decision-making process.” FAQs Why are more advisors expanding their due diligence beyond compensation? While transition economics remain important, advisors are increasingly evaluating technology, AI capabilities, enterprise value, ownership opportunities, and long-term flexibility as part of the decision-making process. How should advisors evaluate a firm's AI strategy? Rather than looking for finished products, advisors should assess whether a firm has a clear vision, meaningful investment, and an integrated approach to using AI to improve advisor productivity and client experience. What is reverse due diligence? Reverse due diligence is the process of evaluating a prospective firm as thoroughly as the firm evaluates the advisor. It includes understanding ownership structure, financial stability, culture, technology, leadership, and long-term strategy. Why does enterprise value matter for employee advisors? Even advisors who do not currently own their businesses may benefit from understanding how different business models create opportunities for ownership, long-term value creation, and future monetization. How has private equity changed advisor due diligence? Private equity has introduced new opportunities for growth and capital, but it has also made it more important for advisors to understand ownership structures, investment horizons, and what future transactions could mean for their business. What does Diamond Consultants mean by an advisor's “best business life”? It refers to aligning an advisor's business model, goals, client experience, compensation, flexibility, and long-term vision in a way that best supports both the advisor and the clients they serve. While transition economics remain important, advisors are increasingly evaluating technology, AI capabilities, enterprise value, ownership opportunities, and long-term flexibility as part of the decision-making process. Rather than looking for finished products, advisors should assess whether a firm has a clear vision, meaningful investment, and an integrated approach to using AI to improve advisor productivity and client experience. Reverse due diligence is the process of evaluating a prospective firm as thoroughly as the firm evaluates the advisor. It includes understanding ownership structure, financial stability, culture, technology, leadership, and long-term strategy. Even advisors who do not currently own their businesses may benefit from understanding how different business models create opportunities for ownership, long-term value creation, and future monetization. Private equity has introduced new opportunities for growth and capital, but it has also made it more important for advisors to understand ownership structures, investment horizons, and what future transactions could mean for their business. It refers to aligning an advisor's business model, goals, client experience, compensation, flexibility, and long-term vision in a way that best supports both the advisor and the clients they serve. NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. Related Resources The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 1 Annual Advisor Transition Report Top 10 Tips for a Strategic Due Diligence Process Should I Stay or Should I Go? View the transcript of this episode… The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 A Special Industry Update with Jason Diamond and Mindy Diamond. Jason Diamond: Welcome to a replay of one of the most popular episodes from our podcast series for financial advisors, The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between. It's Part 2 of a 2-Part Industry Update with Mindy Diamond. I’m Jason Diamond and this is the Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships, starting as your strategic partner, well before you’re even thinking of a move. To schedule a confidential conversation, call us at 908-879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our Annual Advisor Transition Report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Jason Diamond: There’s been a noticeable shift in how advisors are approaching decisions about their business, not necessarily in whether they’re exploring change, but in what they’re focused on when they do. Mindy is back with me for a continuation of our earlier conversation on the Advisor Transition Playbook. Last time, we spent time on the mechanics, how due diligence works, what a move actually entails, and how to think through the process. What’s become more apparent since then is that the inputs into that process are evolving. The traditional drivers are still there, but layered on top are a set of considerations that didn’t carry the same weight before. AI is one of them, and not just as a tool, but as a differentiator that advisors are starting to diligence more seriously. Enterprise value is another. Showing up in conversations, even for advisors who don’t technically own their business, but are thinking more critically about what they’re building over time. And then there are questions around stability, ownership, and flexibility. What happens to the firm itself and whether advisors retain the ability to adapt again if circumstances change. None of this is theoretical. It’s showing up in real time conversations. What we want to do here is unpack those new triggers of advisor movement and what they suggest about how decisions are being made today. So let’s get to it. Mindy, the legend, thank you for joining me. So glad to have you on. Mindy Diamond: Thank you. I’m so happy to be here. Jason Diamond: Great. Let’s dive right in. I’ll set the stage really quickly one more time. When we spoke about this topic last, we talked about the drivers of movement, what we’ll call in this conversation as the old or the legacy drivers of movement, and we spoke about the mechanics of the move. Before we get into the new drivers of movement, which I want to be the meat of the conversation, remind us, when we talk about the legacy drivers of movement …. And by the way, by saying legacy, I by no means want to suggest that they’re not valid today, because they’re equally valid, if not more so today than they were then. But when you think of the classic drivers of movement in our industry, what are they? Mindy Diamond: Yeah. So I would say, first of all, let’s start by saying that for every advisor, they’ve got a unique set of needs. So the first thing to say is that while you and I can talk about the categories of frustrations or things that might bother an advisor, they show up differently in each advisor’s life. So it’s important to note that everyone is unique. But generally speaking, if I had to package them, I’d say it’s number one that shows up most of the time is too much bureaucracy. A feeling that a firm or a model is just too hypervigilant in terms of compliance and it’s too bureaucratic and too hard to get things done. Number two would be some sort of change in or frustration with management. Something is going on that the person or persons that are responsible for managing the business are just not … They’re not the wind at their back. They’re obstreperous. They’re causing difficulty and frustration. And probably the third one would be less about a pain point and more about the desire to be something that they couldn’t where they were. The notion that they want to be more independent, they want to be a business owner and they just can’t do that. That doesn’t exist within the model where they work. Those probably have been the three ones top of mind, but I bet you’ll have some … You’ll add to that. Jason Diamond: I’ll add a couple. But before I do, I’ve heard you talk about this topic, maybe said another way as pushes and pulls. Can you explain what you mean by that? Mindy Diamond: Yeah. So I think that we think about the pushes, the frustrations, the things pushing somebody out the door, the factors that make it less easy or less fluid to do business. And there’s almost always pushes that exist when somebody comes to us, where they’re frustrated to some degree or another about certain things. But we tell people all the time that just to be frustrated should never be enough, because if all you’re doing is running from one set of problems, you’re very likely to run into maybe a different set, but still problems elsewhere. So a move needs to be driven in equal part, if not more, by pulls. Being pulled toward an opportunity that can be needle moving enough or better enough than where you are now. Pushes and pull. Jason Diamond: I love it. So let me ask you a little bit of a pointed question. Is a recruiting deal a valid pull factor? Mindy Diamond: So look, it’s different for every person. We’ve had advisors come and say, “I just went through a divorce and the most important thing to me is to recapitalize. And so a recruiting deal is really important.” And while I would never be one to say that’s not valid, it can be … And by the way, any advisor should want to and expect to better their financial situation. There should be economic gain. But it shouldn’t be the only or the primary reason for the move. So you want to monetize. The notion of wanting to monetize in the short term should be a factor in what model you pick, but it shouldn’t be the primary driver for a move. Jason Diamond: I agree with that wholeheartedly. I was going to say something I think maybe would’ve surprised you a little, which is like, yeah, I think recruiting deal is a very valid pull factor because what we’re saying is, it shouldn’t be the only pull factor. And sometimes it is and it makes us a little bit sad, I think, when that’s the case. But all of these factors you mentioned, and the ones I would add, I think that maybe technology would be another kind of factor that drives movement, all of these factors are not one specific reason. If you did the exit interview, either actually conducted the exit interview with advisors or thought exercise exit interview, I think they would point to a confluence of all of these factors. Compliance was a headache. I wanted to launch a podcast. I wanted to be able to send a timely communication to my clients. We used to hear that one during COVID a lot, right? By the time compliance approved something to send to clients, it was already stale. So do you agree with that, that it’s generally a confluence or a combination of these? Or in your experience, is it advisors are like, “No, compliance or the tech is so bad, I’m out”? Mindy Diamond: Yeah. So most often there’s a straw that breaks the camel’s back incident or thing where they’re willing to put up with a series of minor paper cuts, if you will. And then almost always there’s something that happens. You and I got a call the other day from a team that said that they had split from their partner and the management of the firm was favoring the ex-partner, making it harder for them to stay or making it less fun or feel good for them to stay. So while they gave me a laundry list of things that were imperfect, I don’t know that any one of the things that were imperfect up until then would’ve been enough to drive them out. But when that one thing, that feeling that they were a second class citizen came up, that was the straw that breaks the camel’s back and went from a minorly frustrated to, “I’m out of here.” Jason Diamond: Yeah. And there’s probably a hundred examples you could walk us through. And I wanted to just highlight too, this concept is not limited to the wirehouse or employee or captive firm world, this is equally relevant for independent advisors. Granted, some of the pushes and pull factors, some of the triggers are not necessarily the same, but the idea that advisors outgrow a broker dealer or an RIA or either need or want or desire in some way, shape or form, greater autonomy, flexibility, freedom, control is certainly not limited to the employee space. I just wanted to make that point. Mindy Diamond: And I think that’s absolutely right. I think the notion of that frustrations or limitations or bureaucracy only existed if you were a W2 employee at a bulge bracket firm. That went out the window. As the industry landscape has expanded and there’s more and more valid ways to be a financial advisor, there’s more and more ways for a firm or a model or an infrastructure to frustrate an advisor. And that’s not being overly negative. It’s just to say there is no perfection anywhere. Jason Diamond: Yeah, 100%. And by the way, to play a little bit of devil’s advocate on that, and then we’ll move on, I would just say there are pain points that might come from a firm being small and subscale as well. My firm doesn’t have efficient technology. They don’t invest enough in the business. They don’t provide a lead mechanism. They don’t have a robust banking and lending or investment solutions platform. So this stuff cuts both ways. An advisor can be frustrated or limited and an advisor can be excited. Pushes and pulls I think touch on, we’ve heard from advisors in every single pocket of the market, this is a relevant concept. Mindy Diamond: The theme of this is that every advisor deserves to live their best business life. That’s what people are in search of when they reach out to us or when they engage with us. What they’re looking for more than anything, and this is irrespective of where they work or how long they’ve worked or how much they manage, every advisor is in search of their best business life. And what defines their best business life is having the best quality of work life, but also the best ability to do what they want to do with their business, to serve their clients without limitations, to grow the way they want, to be paid a fair wage, and ultimately set up to maximize the value of the business they’ve built. Those are the definitions of one’s best business life. Jason Diamond: I used an even simpler definition of best business life and I stole it from you, which is the true north concept, which is if your true north is maximizing enterprise value and chasing the dollar and trying to build something that’s scalable and saleable, then great. If your true north is to build a lifestyle practice, there’s plenty of advisors who are successful and happy and content in that regard as well. And I think that’s what we’re talking about, is finding your true north and then it’s possible. I mean, that’s the beauty of the landscape. We’re talking about this, a lot of this is pain points or things that advisors experience. The exciting part of this is there’s never been a better time to be an advisor because of the breadth of choice they have and the ecosystem that’s been born to support advisors, to your point, across the spectrum. Mindy Diamond: Yeah. And it’s also, I think, worth saying that it starts with really good crystal clear clarity around not only what’s frustrating you, but what you want ideal to look like. Because I can’t tell you, or I can tell you because … I can’t tell our listeners, I can’t stress enough how often we get calls from advisors that tell us where they think they want to be or tell us they want to move. They have clarity about what’s frustrating them or what they want to change, but they don’t really have clarity about what they want it to look like. And the less clarity you have, the less likely you are to be successful in finding the exact right solution. So our work, the thing we probably do best is really work with advisors to help them. It doesn’t take long. In an hour conversation, we can help them to really get crystal clear on what they’re looking to solve for. Jason Diamond: Absolutely. All right. Great appetizer. We set the table. Let’s dive into the main course now. I want to talk now about what I’m calling the 2.0 triggers or the new triggers of movement. And to be clear, it’s not that these are more important or better or more significant drivers of movement. In fact, you could argue they’re probably at present less significant than the ones we just listed. But I think what we’re saying is these are triggers that are starting to come up more and more in conversations and we expect them to only proliferate further. And in that regard, they’re noteworthy and important for advisors because advisors should be reconciling not just what are the things I need to be worrying about today, but also what are the things I need to be potentially worrying about five years from now. So with that in mind, let’s dive in. I think the first one we have to start with is AI. And I always chuckle a tiny bit when we mention AI, we used to have to specify what are we talking about. Are we talking about artificial intelligence or alternative investments? And now it’s very clear. Everybody knows we’re talking about artificial intelligence. So the direction of the industry, no over-dramatization to say is at stake here. It’s that important of a topic. Let me ask you just very simply first, is this coming up in conversations with advisors? Mindy Diamond: Oh, all the time, but it’s almost table stakes. So I think the way it comes up is that people assume, advisors assume, and by the way, have the right to assume that AI is part of the tech stack. The notion that if I’m evaluating a firm and part of what frustrates me or part of what’s really important to me is cutting edge, really robust technology, part of what I am expecting is that a new firm is going to have really robust technology. And part of that is really robust access to AI. And has honed the AI in a way that’s user-friendly, that really answers or delivers on making me a better … Not replacing me as an advisor, but making me a better, more efficient advisor. Jason Diamond: 100%. And I would also add, so as I think about this AI topic, I don’t want this to become a conversation around, is AI going to replace advisors, because I think we both agree that’s not going to be the case. Especially at the top end of the market for quality advisors, I think they’re not going anywhere. But in my view, when we think about the trigger of movement, AI has the potential to be transformative because a couple kind of use cases or trigger cases come to mind, and I’d love to hear your thoughts. One is, do you think advisors will potentially consider a move because they’re worried about this? So in other words, play this logic out with me. I’m 55 years old and I’m like, “Oh man, AI might be coming from my job.” And there’s firms offering 400% of revenue to move my book. Maybe I should take that check and kind of de-risk and monetize while I can. What are your thoughts on that? Mindy Diamond: I absolutely think we’re already working with that fall into that category, but to say that is the only reason for the move would be wrong. I’m grateful that people trust us enough to be transparent with us. So they let us know that underneath the notion that they want to better serve clients, they ultimately want better access to A, B, and C, they want to be able to do D, E and F with less restriction, is really the main reason for the move. But underneath it, the notion that my book, I want to protect myself. My book may well be the biggest it’s ever going to be. It is going to be worth more today than it could be in the future if things don’t go my way. And if I know I’m going to move and one of my goals is to monetize, I might want to do that now. Jason Diamond: I agree. And that’s where the top deal story comes in also. Firms paying a top deal is a part of that story. It’s what you just said, plus advisors know firms are willing to pay incredible multiples. I mean, as we speak, UBS is in market with one of the largest deals in history. So those two narratives side by side, I agree. I think this becomes more of a kind of catalyst or driver movement. It’s come up in my conversations on both sides of the spectrum. It’s the tech savvy, AI savvy advisors who are excited about this, who are like, “I want to be the most AI enabled version of myself I can be. It’s going to make me a rockstar and it’s going to widen the gap with my peers,” but it’s also come up with the people who are, I think, rightly scared and fearful about what this might mean for their job. Mindy Diamond: Let me ask you, what are examples of the way you’ve seen some of the best firms who have embraced AI? What is their narrative? What is it that they’re saying to advisors that if you come here from a tech or AI perspective, you’ll be better because we’re able to do … Fill in the blank. Jason Diamond: Yeah. So a couple that come up. First of all, I want to make the important point. Advisors do not expect that firms, either their current firm or firms that they are diligencing prospectively, have this figured out or solved. Everybody understands this is a fairly new area that firms are still very much kind of developing their strategies in. What advisors want to see is a few things. They want to see though leadership, they want to see investment, and they want to see a strategy, right? Effectively, they want to see a step in the right direction, really. So I’ll give you a couple examples. There are a number of tech savvy RIAs, very tech-enabled, AI-focused RIAs, because I think this is easier to be nimble. I think where you’ll see this quicker probably is in the independent space. That what they’re doing is things like this. An advisor logs on to their workstation in the morning and their system queues them proactively, Mr. and Mrs. Smith may be good candidates for a Roth IRA conversion. And then if the advisor decides to contact the client in some way about it, the system will of course help them draft the communication, but then it’ll take it a step further and actually help them to process and transact that conversion. So soup to nuts, ultimately driving efficiency. That’s the name of the game. That’s why firms, I think, are excited about AI, at least the good firms. Because what I think they realize it will do is, the stuff that’s a waste of time that could be automated that advisors, and probably even more so their associates, client associates are spending time on, that should be a massive time saver for advisors. And I think if you play that story out, what does that mean? It should mean bigger books of business and therefore more productive advisors because they have more time to prospect and focus on their clients. Thoughts? Mindy Diamond: Yeah. So I think you said it perfectly, but it raises the question then. You say that the RIAs can be more nimble. You’re right. I mean, the big story around the biggest firms was like moving a battleship, it takes a long time to turn it. It’s not as nimble. So what and how are the bigger firms competing against the RIAs with respect to AI? And second question, we still always get questions, and rightly so, about Morgan Stanley has more money to invest… Jason Diamond: That was going to be part of my answer. Mindy Diamond: … than fill in the blank RIA. So how does that all work? Jason Diamond: That is absolutely going to be part of my answer, is that I have heard this question posed almost presumptively both ways. “Oh, it’s got to be that the RIAs are going to be the clear winners in this.” And I’ve also heard, “Oh, it’s got to be that the wirehouses are going to be the clear winners in this.” I don’t think it’s going to be channel specific like that. I think it is going to be firm specific. I think there’s going to be firms that are going to do this well and firms that are going to not do this well. But there’s going to be winners in the wirehouse space. There’s going to be winners in the regional firm space, with firms like Raymond James who are clearly trying to be on the cutting edge of this. There’s certainly going to be winners in the broker-dealer space. LPL is investing heavily in this, as are many of their broker-dealer competitors. And then of course the RIA space, where sometimes they may not have the budgets, but they have a couple things. They have private equity backing, sometimes. They have the custodians that they’re built on, right, or the tech vendors that they’re built on. So Schwab and Fidelity or Orion and Addepar. They have other ways to access these innovations. One of the things that comes up with this that your question I think gets at is, a similar question that was raised around technology stacks, which is strength of offering versus integration. And that’s where I think a firm like Morgan Stanley really will shine, is they should … Because they don’t put anything out that’s not well integrated. The big firms have generally done a pretty good job of that. Versus the RIAs. Sometimes we’ve heard feedback where, yes, you have access to you name it, right? You dream it up, you can go and buy it. But the left hand may not speak to the right hand quite as well. Mindy Diamond: Yeah, that’s actually a really good point. And integration is probably one of the biggest … If you ask an advisor when they talk about technology as either being one of their pushes or pulls, probably what they’re referring to more than anything is not only having the capability, but having the integrated capability. So that’s a great point. And I think your point is right, that the final chapter on this has not been written. Nobody thinks that it has. And so whatever answers you and I can talk about today about who’s winning this race, or this tech race or this AI race, will be totally different tomorrow. We all know that. But I think for purposes of this conversation, to say that an advisor having an expectation that their technology be outstanding and that AI be on the table, that a firm is embracing it and heading in the right direction, if you will, has the right thought leadership and the right willingness to invest in it is what advisors are really looking for right now. Jason Diamond: Absolutely. And this is a question too from the firm’s perspective, if you are a firm of any size, you must be able to answer that. This has become question 1A. And again, I don’t mean to suggest that I think AI is the number one most important factor driving advisor movement today. It very well might be at some point down the road. I don’t think we’re there yet. But I do think it’s the topic du jour or the hot topic, where every advisor is asking about this. So that means if you’re a firm, you need to be prepared to tell the story or at least have the vision. And I think what we’re hearing from both advisors and from firms is this, AI is going to … What is right now a gap between the good and the bad, the quality and the non, is going to become an absolute chasm, right? An absolutely mountainous gap between the best firms and the firms who are able to adapt this technology or this AI. And the same thing at the advisor level, between the AI-enabled superpowered advisor versus those who are in the dinosaur ages, for lack of a better term. Mindy Diamond: Yeah. And we’ll move on, but it is worth saying that the day of the standalone independent, the one man or one woman band who hangs out a shingle, and to use your term, running a lifestyle practice, nothing wrong with that, but it would be near impossible to imagine a world where a standalone independent can compete with a private-equity-backed RIA or an RIA that has a big pool of capital behind them or to compete with the major firms. And our point is the ability to compete is probably more important with respect to this topic than just about any other. Jason Diamond: Totally agree. Thank you for tying a bow on that because I think that’s a good place to leave the AI topic, at least for now. I’m certain we’ll have more to say on this one. By the time we release this episode, we’ll probably have more to say on it. So we’ll have to do a follow-up again. But I want to talk now about enterprise value. And this is one where if you’re an RIA or if you’re an advisor at an independent firm, this might sound like a duh, but hear me out on this one. The idea is as follows, if I’m a wirehouse advisor or any sort of captive advisor, I don’t technically own anything. Agree? Mindy Diamond: Agreed. Jason Diamond: Okay. So if that’s true, that I don’t technically own anything, I technically don’t have any sort of enterprise value or ability to monetize. But my premise here and why I would argue that enterprise value has become a driver of movement is even wirehouse advisors know … They see teams like OpenArc, a massive RIA that launched last year. They see their corner office peers breaking away, starting independent firms. They see them selling to asset managers, private-equity-backed RIAs, private equity firms in their own right for these massive multiples. And what I guess I’m getting at, and I’m curious if you agree is, if a wirehouse advisor, let’s say, sees their colleagues sell to a private equity firm for 20X, doesn’t that have to become a little bit of a catalyst for movement in its own right? Mindy Diamond: Without a doubt. Historically … Actually, let me date myself. When I started this business now 32 years ago, there was zero way for an advisor who was a captive employee of a firm, of any firm, to monetize their business. It’s why there was so much movement, because the only way they could monetize was to get paid a big fat transition deal to move from one firm to the other. Jason Diamond: Yep. Mindy Diamond: Obviously, we all know that first it started with the big firms, and then just about every brokerage firm on the street began to offer a retire-in-place program. And that is the big firms or a traditional brokerage firm’s way of allowing advisor to monetize in place from their perspective to stave off attrition. And for an advisor that believes that the status quo serves them well, that finishing their career, that leaving their legacy, that leaving their team at their firm is the best thing to do, then those retire-in-place programs, like Merrill’s CTP or Morgan’s FAP or UBS’s Alpha or a name at every firm has them, is the best gift to advisors there is. But the problem is that the next generation at those firms are buying an asset they don’t own. And so when we talk about enterprise value or the desire to build enterprise value as a real driver of movement, what we’re talking about is not only that advisors want ownership of an asset, because ownership translates into more control and autonomy and agency over building it the way you want to, but it also translates into maximizing the value of the business that you’ve built. So that’s a long-winded way of saying that the OpenArc deal you are referencing, for anybody not familiar, is a Merrill Lynch team, a legacy Merrill Lynch team in Atlanta that was managing more than 120 billion in assets, part retail, ultra high net worth client assets, and part institutional consulting assets. And believe me, I don’t want to make it sound like it was a snap that one day they’re happy and the next day they’re going independent. Over a 10-year period became more and more aware, driven by the pushes and more aware of the pulse. But ultimately, while there was a long list of things they wanted to be able to do that they couldn’t to best serve clients and grow the business, the real driver at the end of the day, or I shouldn’t say the real driver, but a major driver was the notion of building and owning enterprise value. Yes, they could have all gotten very attractive deals and retired with your Merrill CTP, but they wanted to own the business, they wanted cap gains treatment. And so they went through the sweat equity big time of building what they’re calling OpenArc for the ability for probably five, 10, 20 years, because there’s partners with all different ages, so at all different times, to be able to really maximize the value of the business they’ve built. Jason Diamond: Can I push back on that for … It’s a super helpful example, but my one thought is, okay, yeah, of course, 130 billion in assets, they should be concerned with enterprise value at that size. And the delta between caring about enterprise value and not is too great because those guys have, by all accounts, a phenomenal business that is rivaled by very few in the industry. Most of our audience does not fit into that stratosphere. So what about advisors in, let’s call it the million to $10 million space? Should they still care about this concept? Mindy Diamond: Again, it’s an inside job. It’s a personal thing. Some don’t. But the answer is yes. And if I were them, I would. Why? Because whether I am generating a million a year in revenue or $10 million a year in revenue, at the end of the day, I’ve got an asset. I’ve built a valuable asset. And I have the choice at the end of the day or the middle of the day to decide a million things about that asset. How do I want to live my business life? How do I want to serve my clients? Where do I want to work? But one of the biggest factors to determining where and how they want to work is, ultimately, do I want to be able to maximize the value of the business that I’ve built? And while there are few things that are really definitive in this industry, the one thing that is absolutely indisputably definitive is that if you build an independent practice like the ex-Merrill Lynch churned RIA OpenArc team did, you will ultimately build enterprise value exponential multiples greater than any way you could monetize the business as a traditional employee. Jason Diamond: And that math absolutely still holds up even at numbers smaller than we’ve mentioned. I totally agree with that. I’ll give you one other reason why I think you should care. And I’d love your thoughts on this one. I’ll ask it two ways maybe. I’ll tell you my take and then I’ll ask you yours. Morgan Stanley, let’s use as an example. Who are Morgan Stanley’s competitors? In my opinion, the legacy answer to that is, well, of course the wirehouses are Morgan Stanley’s competitors. Merrill, UBS, Wells Fargo, what maybe used to be a longer list, but today those four. I don’t think that’s the answer anymore. I think those are the direct competitors. But because of this enterprise value conversation, I think Morgan Stanley’s competitors are anyone and everyone who recruits financial advisors with books of business. Because if you think about it, an advisor who has a $3 million business at a wirehouse, even if they’re not actually going to do this, they don’t have any entrepreneurial spirit, no desire to go independent, they still know that they could. This is an option and a viable option. And firms are even figuring out ways to cut out the middle step, right? Because this was historically a two-step process. You’re a wirehouse advisor or a W2 advisor. You break away, launch an independent business to establish your enterprise value, begin building it, and then you monetize it. If you could cut out the middle step, or even if you couldn’t, I still think it’s pretty clear that if you’re an advisor, this is important because the firms know … Like when Morgan Stanley’s writing a recruiting deal, they’re kept honest by RIAs and acquirers just the same as their direct peer set. Do you agree with that or do you think I’m reading too far into this? Mindy Diamond: Oh no, I agree a thousand percent. I think that it is naive for anyone recruiting for or on behalf of a traditional firm to think that the only competition is another traditional firm. The days of pomposity for a senior leader at a traditional firm to say, “We’ve got the best technology, the best everything fill in the blank. We have no competitors.” That’s just naive. Because even if it’s true, you’ve got the best platform infrastructure fill in the blank, there is a multitude of advisors that value things different than what you can provide. Beauty is in the eye of beholder is probably a good way to say that. But at the end of the day, what we’re really talking about is when I started the business, because there was no way, no really good way for an advisor to really monetize their life’s work, the only thing they could or were focused on from a personal financial gain perspective was the short-term deal. What are they paying? What’s the transition deal? Now, of course they’re concerned about that. But almost to a person, they’re equally concerned about what I can build and what will this allow me to build in terms of the value of the business I’m building in the long term. So let me ask you, if we’re talking about an advisor that has the ability to monetize in the short term for what could be 4X and in some cases more than that these days, and we’re talking about the ability to maximize enterprise value, and we talk about the concept of moving once and monetizing twice, what kind of numbers are we talking about? Fill in the blanks there. Jason Diamond: It’s such a hard question to answer because I do genuinely believe recruiting deals, when you talk about 300 to 400% revenue deals in the recruiting space, they vary a little bit, but I feel pretty comfortable quoting those types of numbers that most firms are somewhere in the 300 to 400% of T12 realm. There are some outliers, we mentioned UBS. But the multiple or EBITDA based or enterprise value M&A market where we’re doing these legitimate buyout transactions, the valuations do vary quite a bit. But here’s how I think about it. First of all, most firms are not purchased or sold at top line revenue. Most are sold at some sort of adjusted EBITDA number, which factors in local expenses, platform expenses, but also advisor compensation. And then that adjusted number is typically multipled. The multiples are anywhere from 8X for small kind of, let’s say, million dollar revenue businesses up to, we’ve seen deals struck at north of 20X for some of these mega cap RIAs. Typically, just back of the envelope, if I had to quote, I typically estimate around 5X top line at capital gains is a good kind of ballpark valuation. But there is quite a bit of nuance to it, more so than the traditional recruiting space. And I do think, shameless plug, part of the value in working with somebody who’s an expert on the entirety of the industry landscape is just that. It’s the idea that you need to run the horse race across multiple verticals. The good advisors who work with us typically are looking at a wire like a Morgan Stanley or a Merrill. They’re looking at a boutique firm like a Rockefeller, or they’re looking at a regional like an RBC or a Ray J. They’re looking at an independent firm like an LPL or a Sanctuary. They’re looking all across the spectrum. Mindy Diamond: I think that’s exactly right. But the topic of enterprise value, you can see how powerful it is and how wise it is. For an advisor today, when considering their personal economics to consider not just the short term, but to weigh in or add in or factor in, what could I be building and what ultimately will that business be worth at the end of the day? Jason Diamond: Yeah, 100%. Short of going out and selling your business, what can advisors do then? So I’m an advisor, okay, I’m curious about this. Or is it just as simple as, “Yeah, you should know what your business is worth if you’re an advisor”? Mindy Diamond: Definitively yes, because I mean, we always believe that knowledge is power. And just like it’s important for you to understand what your options are within your own firm, how can I ultimately retire out and monetize my business where I am, I think it’s really hard to make a decision in a vacuum without having other perspective. And getting other perspective doesn’t have to be that you have to go out and take 20 meetings. It’s not that hard for you to figure out what your business is worth to make it a data point for whether or not you’re ultimately best to retire in place or go elsewhere. Jason Diamond: Yeah, that I think is the main takeaway. And the education point is so important. I think because these are relatively new concepts for a lot of advisors that haven’t formally shopped a business before, there’s a lot of resources available. And we’ll certainly link some as well on the page for the episode. Let’s shift gears now, our kind of final trigger 2.0, which is stability and ownership structure of the firm. And this has been a little bit of a hot topic. It’s honestly been a hot topic every year because it seems like things pop up every year. And a lot of times advisors don’t reconcile the question of who owns the firm or how stable is the firm until something happens. The firm gets bought, the firm goes bankrupt, like the First Republic scenario. What should a good advisor do proactively about the idea that if you’re a W2 employee or even an employee who’s affiliated with a broker dealer, you saw this with Commonwealth, you just don’t really have control over what the firm decides to do. Give me your thoughts on this. I know it’s a big topic. Mindy Diamond: Yeah. First of all, using Commonwealth an example, it’s a good one. Because for those unfamiliar, Commonwealth is a boutique broker dealer that was privately owned and whose tagline was, “We love our privately owned status and we are never going to sell,” until one day they did. And not only did they sell, but they sold to the biggest independent broker dealer in the country, ala LPL. That’s not good nor bad, it’s just a fact. So if Commonwealth, who had definitively said we’re never up for sale, suddenly sells, any time you’re an employee of a firm, you never know what tomorrow brings in. You’re not in control over whether it’s sold. So that’s one example. But as you’re talking about this, I’m thinking about, I’m probably going back 20 years, so I’m 10 years into my career and I talked to someone who had been a very successful Merrill advisor. So I’m going to say he was probably generating around $5 million in revenue at the time. Going back 20 years, that’s a pretty significant book of business. He was courted for years by what he thought was a top RIA. And in those days, remember 20 years ago, the RIA space wasn’t nearly as mainstream as it is now. But the story the RIA told him was that ultimately, one, he was going to be a partner in the firm, that was very appealing to him. So he was going to have equity in the firm and much more freedom and control. And locally, by the way, the RIA was a really high quality brand. He worked on a lot of the economics, the short term and the long term with them. They did a ton of due diligence on his book of business. But he failed to ask … And I didn’t represent him. I just know this story. He failed to ask or do enough due diligence about the stability of the firm. What we think is really important, we talk about this expanded landscape. If you’re looking at Morgan Stanley, I don’t think you necessarily need to see Morgan Stanley’s balance sheet. If you are talking to a firm that is anything but a bulge bracket or anything but a large firm, it’s really important to do what we call reverse due diligence and to really understand if a firm expects you to open your kimono and show everything about your business to prove your worth, it is equally important that you do the same for them. In this new world order where private equity has come in and there are so many different ways for a firm to be owned and to be capitalized, it’s very important that an advisor understand what’s going on behind the scenes. And one of the questions around stability, if a firm is private equity backed, is it permanent capital? Is it patient capital? Is the private equity firm going to look to sell and monetize in five years? And then who would the likely buyer be and what does that mean for you? So the question is a big question and it’s really important. Jason Diamond: I love everything you just said, except I do think even the wirehouses, wirehouse advisors, honestly, as much as anybody should be asking these questions. And I’ll give you an example right now, UBS. And UBS, it’s not a story of balance sheet stability. I don’t think anybody has concerns that UBS is going to fail. But UBS management has been very publicly, “Oh, we’re cutting costs.” There’s been some rumors, I think for years, probably dating back 30 years to when you started the business about UBS’s commitment to the US wealth management business. I think those questions about stability and ownership structure are still valid. And to me, the implication of it is twofold. One, what you said, reverse due diligence, ask the questions, plan B. But also the concept of the exits or the off-ramps or how many bites of the apple do you get. So if you’re an advisor and you sell your business to somebody and you sign garden leave and non-competes and non-solicits, the question of ownership structure of that firm becomes less relevant because you have no off-ramps and no ability to exit that business anyway. A lot of times that’s how advisors get comfortable with this concept. And that’s what firms will tell them too, frankly, and we’re living through the middle of this, by the way, with Commonwealth and LPL, is vote with your feet, right? To the extent advisors can, the offer … And this is like, you used the example of private-equity-backed firms. This is how Rockefeller addresses the question of their private equity ownership. If we sell to UBS, all of our advisors will leave. They have that built-in put option. So knowing where the off-ramps are or how many bites of the apple an advisor gets, I think is a big concept that ties into that. But we’re absolutely seeing this pop up, probably largely because of those two examples, Commonwealth and UBS this year, more so Commonwealth, to your point. Janney’s another example last year or two years ago now where KKR comes in and buys Janney. So when these examples happen, it seems like it triggers advisors to say, “Is this something that could happen to me and should I be thinking about this?” Mindy Diamond: Yeah. So let me ask you a question. You’re talking, you’ve mentioned UBS offering this outsized deal. So how does the notion of stability and ownership factor in? If an advisor is considering an unprecedented deal from UBS, what are the caveats or concerns with respect to stability and ownership? Jason Diamond: It’s the same list of considerations you should and would ask of any other firm you’re diligencing, except I think amplified even more in the case … If I was counseling an advisor who was looking at UBS, that would be what I would say, is exactly that. You’re seeing all of these departures and defections, and I would want to have conversations with those advisors and understand exactly why and have guarantees or assurances that I’m not going to suffer from those same pain points that force them to leave. Or, and I say this a little bit flippantly, but it’s a little bit true, I understand the devil that I’m getting into bed with, but for 550%, or whatever the deal might be, I can suck it up. And that’s something that some advisors might well say as well. Mindy Diamond: Yeah. Jason Diamond: I don’t want to end on the negative note of overly large transition, not there’s anything wrong with large transition deals, but as you look out, is there anything that’s coming up in your conversation with advisors that you view as the next wave of this? I’ll give you one that maybe you could touch on, and if you have another one, feel free to offer it in conclusion, but do you think age or advisors starting to succeed out of the business will become more of a driver of movement, even though to your point, advisors can access sunset deals? Mindy Diamond: I do actually, because I think the more the average advisor age increases, the more likely that those advisors are going to want to move on to do something else to monetize the business. And so much of the wave of movement we see is driven not so much by the senior advisor, because many seed advisors are happy enough with the ability to monetize their business in place. Even though it may not maximize the value of the business, it’s a close enough approximation and it means I don’t have to disrupt the apple cart. So we support that 100%. But where we get the calls is from the next generation that says, “Yeah, but hold on a minute. It’s a good way for me to take on a book of assets that I not otherwise have access to. And it’s great for my senior partner, my father, my mother, my whatever to monetize the business. But I’m buying an asset again that I don’t own and I ultimately don’t have control over all these things we’re talking about, the AI investment, the ability to create enterprise value, the stability, the cost cutting, all of it.” So I think it’s all of the above. You say, “What else is there?” I think that’s it. It’s all of the above. It’s anything and everything that drives movement. One, it’s personal, it’s highly unique, it’s different for every advisor. There are certainly themes, and we’re talking about them, but there’s a million different things. It’s personal. And while there are an awful lot of pushes, things that can frustrate an advisor, it is the most exciting time in our view to be an advisor, particularly a high quality one, because the options abound, the ecosystem is big, because the ability to monetize both in the short term and the long term is big, mammoth, exponentially bigger than it ever was before. And the true ability to really build an enterprise has never been greater. And I think all of those things, the desire for an advisor to be the best that they can be and live their best business life is probably the biggest driver of all. Jason Diamond: It’s really true these days, if you can dream it, you can probably build it. And we’ve said in the past, if you build it, they will buy it. It’s a great place to end. This was a really fun topic. I think that’s a spot on kind of fourth trigger, by the way, too. This sort of next gen is almost like the force multiplier or the amplifier of like they see all this other stuff and they’re asking these questions even more so. Because if I’m 60 years old, none of this matters all that much. It matters, but I’m out of the business in five to 10 years. Versus the next gen advisors are the ones who often bear the brunt of this. So I think a lot of really smart stuff. Thank you for sharing your wisdom and expertise. In the episode page, we’ll be sure we have our Industry Transition Report. And we’ve also created a tool, the top 10 tips for a strategic due diligence process, which is a great kind of practical hand-in-hand companion for this topic for advisors looking for more pointed tips on the due diligence process. So Mindy, thank you again. This has been a blast. Mindy Diamond: My pleasure. Thank you. Jason Diamond: Thank you for joining us. We'll be back with a new episode next week, so be sure to listen in. Mindy Diamond: As a financial advisor, you hold yourself to the highest standards of integrity, honesty, and credibility. You are successful because you take your professional responsibility seriously and are dedicated to your clients. But are you living your best business life? Are your goals aligned with your firms or could a better option exist? Should I Stay or Should I Go? is a book written with you in mind. It’s a self-guided journey that walks you through the key steps that we take with our advisor clients. This strategic thought process and roadmap to professional self-discovery is designed to help you ask the right questions and think critically and objectively, whether you’re considering change or not. Learn how to get your copy at diamond-consultants.com/thebook. The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 A Special Industry Update with Jason Diamond and Mindy Diamond. Jason Diamond: Welcome to a replay of one of the most popular episodes from our podcast series for financial advisors, The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between. It's Part 2 of a 2-Part Industry Update with Mindy Diamond. I’m Jason Diamond and this is the Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships, starting as your strategic partner, well before you’re even thinking of a move. To schedule a confidential conversation, call us at 908-879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our Annual Advisor Transition Report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Jason Diamond: There’s been a noticeable shift in how advisors are approaching decisions about their business, not necessarily in whether they’re exploring change, but in what they’re focused on when they do. Mindy is back with me for a continuation of our earlier conversation on the Advisor Transition Playbook. Last time, we spent time on the mechanics, how due diligence works, what a move actually entails, and how to think through the process. What’s become more apparent since then is that the inputs into that process are evolving. The traditional drivers are still there, but layered on top are a set of considerations that didn’t carry the same weight before. AI is one of them, and not just as a tool, but as a differentiator that advisors are starting to diligence more seriously. Enterprise value is another. Showing up in conversations, even for advisors who don’t technically own their business, but are thinking more critically about what they’re building over time. And then there are questions around stability, ownership, and flexibility. What happens to the firm itself and whether advisors retain the ability to adapt again if circumstances change. None of this is theoretical. It’s showing up in real time conversations. What we want to do here is unpack those new triggers of advisor movement and what they suggest about how decisions are being made today. So let’s get to it. Mindy, the legend, thank you for joining me. So glad to have you on. Mindy Diamond: Thank you. I’m so happy to be here. Jason Diamond: Great. Let’s dive right in. I’ll set the stage really quickly one more time. When we spoke about this topic last, we talked about the drivers of movement, what we’ll call in this conversation as the old or the legacy drivers of movement, and we spoke about the mechanics of the move. Before we get into the new drivers of movement, which I want to be the meat of the conversation, remind us, when we talk about the legacy drivers of movement …. And by the way, by saying legacy, I by no means want to suggest that they’re not valid today, because they’re equally valid, if not more so today than they were then. But when you think of the classic drivers of movement in our industry, what are they? Mindy Diamond: Yeah. So I would say, first of all, let’s start by saying that for every advisor, they’ve got a unique set of needs. So the first thing to say is that while you and I can talk about the categories of frustrations or things that might bother an advisor, they show up differently in each advisor’s life. So it’s important to note that everyone is unique. But generally speaking, if I had to package them, I’d say it’s number one that shows up most of the time is too much bureaucracy. A feeling that a firm or a model is just too hypervigilant in terms of compliance and it’s too bureaucratic and too hard to get things done.

Evan J. Mayer sits down with Tiago Lima, partner at Sovereign Wealth Strategy Group out of Colorado Springs, the first FABA guest who made the leap from the captive insurance world to the independent channel.Tiago Lima's participation in the For Advisors By Advisors podcast is independent of his activity as a financial advisor with Raymond James. 

For advisors considering independence, this episode is full of real-world perspective.Evan J. Mayer sits down with Paul Wood of Agility Wealth Management to talk about why advisors leave wirehouses, what holds them back, and how the right independent platform can create room for growth. They also discuss recruiting, succession, private equity, RIA models, and what it takes to support advisors across multiple locations.

In this episode, we look at a question many investors are asking right now: why own international stocks when U.S. stocks have done so well for so long? We start with the reality behind the question. Over the past decade, the S&P 500 has far outpaced developed international markets, and that gap has made investors wonder whether international exposure still matters. Ed explains that this skepticism is understandable. Many large U.S. companies, including Apple, Microsoft, Nvidia, and Amazon, already sell products around the world and benefit from global growth. That makes it easy to think a U.S. stock portfolio already provides enough global exposure. But the other side of the issue is concentration. The U.S. market now represents roughly 60 to 65 percent of global market capitalization, which means a U.S. only investor is choosing to leave out about 35 to 40 percent of the global stock market. Now, this is not an anti U.S. argument. U.S. companies remain dominant, innovative, and important. The point is that diversification asks whether it makes sense to concentrate entirely in one country, even one as strong as the United States. The discussion then turns to history. Alex explains that market leadership is never permanent, even though it often feels permanent in the moment. Investors are shaped by what they have recently experienced. Today, many younger investors have only known an environment where U.S. equities beat international markets. That can make diversification feel unnecessary. But in earlier periods, international stocks, emerging markets, and even fixed income led for meaningful stretches of time. The lesson is not that international stocks are guaranteed to outperform next. The lesson is that no one knows what will lead next. Alex describes diversification as an exercise in humility. We do not diversify because we know what is going to happen. We diversify because we do not know. Trying to build a portfolio around yesterday's winners can turn investing into performance chasing. That may work for a while, but history shows that trends change, valuations shift, currencies move, and leadership rotates. Our main takeaway is that diversification can feel frustrating during long periods when one asset class dominates. But its purpose is not to win every year. Its purpose is to build a portfolio that can handle many different market environments over time. International exposure remains part of that discipline because it adds different currencies, economies, industries, demographics, and market cycles to a long term investment plan. You can always email Alex and Ed at info@birchrunfinancial.com or give them a call at 484-395-2190.Or visit them on the web at https://www.birchrunfinancial.com/Alex and Ed's Book: Mastering The Money Mind: https://www.amazon.com/Mastering-Money-Mind-Thinking-Personal/dp/1544530536 Any opinions are those of Ed Lambert Alex Cabot, financial advisors, RJFS, and Jon Gay, and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The examples throughout this material are for illustrative purposes only. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional. Diversification and asset allocation do not ensure a profit or protect against a loss. Past performance is not indicative of future returns. CDs are insured by the FDIC and offer a fixed rate of return, whereas the return and principal value of investment securities fluctuate with changes in market conditions. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. Stock Market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. International investing involves special risks, including currency fluctuations, differing financial accounting standards, and possible political and economic volatility. There is an inverse relationship between interest rate movements and bond prices. Generally, when interest rates rise, bond prices fall and when interest rates fall, bond prices generally rise. Investing in small cap stocks generally involves greater risks, and therefore, may not be appropriate for every investor. The prices of small company stocks may be subject to more volatility than those of large company stocks. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Birch Run Financial is not a registered broker/dealer and is independent of Raymond James Financial Services. Birch Run Financial is located at 595 E Swedesford Rd, Ste 360, Wayne PA 19087 and can be reached at 484-395-2190. Any rating is not intended to be an endorsement, or any way indicative of the advisors' abilities to provide investment advice or management. This podcast is intended for informational purposes only.Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users or members. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A couple had done everything right — dual income, debt-free, millions saved in tax-deferred accounts — and they were on track to hand $10 million to the IRS. Not because they made bad decisions, but because nobody had ever shown them what "doing everything right" actually costs without proactive planning.In this episode, Gabe sits down with Rob Bedinghaus, Ph.D., CFP® — founder of Bedinghaus Wealth Planning and author of Beyond the Numbers — to dig into the retirement planning conversations most advisors never have. Rob brings a teacher's instinct to every client meeting, and this episode reflects that: clear frameworks, real scenarios, and a perspective on legacy that goes well beyond the balance sheet.Listeners will walk away with a clearer picture of the income gaps retirees face, a practical mental model for surviving market volatility, and a compelling case for why tax planning and retirement planning are the same conversation.About Rob BedinghausRob Bedinghaus, Ph.D., CFP® is the founder of Bedinghaus Wealth Planning, an independent practice in Lebanon, Ohio affiliated with Raymond James. A second-generation financial advisor, Rob spent six years in higher education at Indiana University before joining his father's practice in 2015. He has worked with hundreds of families navigating retirement transitions, previously overseeing more than $130 million in client assets at Edward Jones before building his own independent firm. He is the author of Beyond the Numbers: Your Smart Guide to Retirement Income, Tax Efficiency, and Lasting Legacy.What We CoverWhy the shift from saving to spending is harder than most retirees expect — and how Rob helps clients break a 30-year saving mindsetThe bucket framework: how organizing money by time horizon keeps clients from panic-selling during market downturnsHow one couple's disciplined 401(k) savings had them on track for $700,000 in annual required minimum distributions and a projected $10 million lifetime tax billThe Roth conversion strategy that cut one couple's projected tax bill from $10 million to $2 millionWhat "living a legacy" means: giving while you're alive, seeing the impact, and passing values alongside wealthWhy qualified charitable distributions are one of the most underused tax tools for charitably-minded retireesResources MentionedBeyond the Numbers: Your Smart Guide to Retirement Income, Tax Efficiency, and Lasting Legacy by Rob Bedinghaus, Ph.D., CFP® — free e-copy available at beyondnumbersbook.comConnect withWebsite: bedinghauswealth.comBook website: beyondnumbersbook.comLinkedIn: linkedin.com/in/robbedinghausSupport the show

Investors digest cybersecurity earnings, AI developments and shifting risk appetite. Mandy Xu of Cboe explains how options traders are positioning and where speculative activity is building. Palo Alto Networks headlines earnings. Saket Kalia of Barclays breaks down the results and what they signal for cybersecurity spending, enterprise demand and the broader software landscape. Ulta and GitLab add fresh reads on the consumer and technology spending. A major conversation on AI in healthcare: our Kate Rooney sits down with Microsoft AI CEO Mustafa Suleyman and Mayo Clinic CEO Dr. Gianrico Farrugia to discuss how artificial intelligence is transforming medicine, research and patient care. Sunhaina Sinha of Raymond James discusses the capital raising environment and whether funding conditions are improving for companies and investors. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Brianne Gardner, portfolio manager & senior wealth manager at Velocity Investment Partners, Raymond James, shares her outlook on North American Equities.

According to the 2025 National Conversations in the Workplace Study, 85% of working Americans believe leaders should be held to a higher standard for communication and preparation. In today's workplace, leadership is no longer just about strategy or authority. It's about clarity, emotional intelligence, and the ability to create trust before pressure-filled moments arrive. People follow leaders who communicate with intention, empathy, and authenticity. On this episode, I'm joined by Sandy Gerber, an award-winning Certified Communication Coach, Emotional Intelligence Trainer, bestselling author, keynote speaker, and host of the Magnetic Communication Podcast. With more than 25 years of experience helping leaders and organizations transform the way they communicate, Sandy has become one of North America's leading voices on emotionally intelligent leadership and human connection. Sandy is the creator of Emotional Magnetism, a groundbreaking communication framework now taught in academic programs, implemented in leadership development initiatives, and published in three languages. Her internationally acclaimed book, Emotional Magnetism, has earned 24 international awards and continues to help readers strengthen relationships, deepen self-awareness, and communicate with more confidence and compassion. In this conversation, Sandy shares the deeply personal experiences that shaped her work, including rebuilding her life after two failed marriages, raising two children as a single mother, and scaling NEXT Marketing Agency from her bedroom into one of British Columbia's Top 100 Fastest Growing Companies. She explains how the same emotional intelligence and communication principles that transformed her personal life also became the foundation for her professional success in high-pressure industries like finance, technology, and construction. Throughout her career, Sandy has worked with globally recognized brands including A&W Food Services of Canada, Molson Coors Beverage Company, TELUS, British Columbia Lottery Corporation, Grand Marnier, Raymond James, and St. John Ambulance, helping organizations improve engagement, collaboration, workplace culture, and retention through emotionally intelligent communication strategies. Sandy also discusses the leadership lessons behind her proprietary frameworks including The EQ Switch, Connection Cues, Honest Questions, and Connected Conversations, and why emotional awareness has become one of the most valuable skills in modern leadership. Her insights reveal how leaders can navigate conflict more effectively, foster psychological safety, and create environments where people genuinely feel seen, heard, and understood. Recognized with honors including the 2025 Women of Influence Creative Innovator Award, the Fast Company World-Changing Ideas Award, the Women of Worth Award, the Real Leaders Impact Award, and the Transform Global Marketing Award, Sandy continues to inspire audiences through her coaching, speaking, podcast, and live experiences designed to help people communicate with more truth, compassion, and connection. This episode is a powerful conversation about leadership, resilience, emotional intelligence, and the life-changing impact of learning how to truly connect with others. And yes, you'll also hear why Sandy still considers winning a limbo contest at age 14 one of her proudest accomplishments.   For more information: https://sandygerber.com/ Discover More https://sandygerber.com/drift-quiz/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Javed Mirza, quantitative and technical strategist at Raymond James, shares his outlook on Canadian Stocks.

Lisa Detanna has spent decades helping families, founders and executives navigate wealth, markets and uncertainty - and in this episode of the Why Not Now? podcast, she joins Amy Jo Martin for a candid conversation about AI, investing, financial psychology and what the future of money may actually look like.   As Managing Director and Senior Vice President of Investments at Raymond James, Lisa has guided clients through multiple market cycles, economic shifts and technological revolutions.   Together, Amy Jo and Lisa unpack some of the biggest misconceptions surrounding artificial intelligence and the economy, including whether AI is truly replacing jobs, how companies are reallocating capital toward innovation, and why market volatility doesn't always mean panic.   They also explore the emotional side of money: behavioral finance, psychological safety, decision-making under pressure and how AI tools are beginning to help people better understand not just their finances, but their time, habits and energy.   You'll hear Lisa's practical insights on investing during periods of uncertainty, diversification, retirement planning, compounding wealth, longevity planning to age 120 (yes, 120!), and why staying informed matters more than reacting to headlines.   This episode is both grounding and forward-looking - a conversation about embracing change without losing perspective. If you've been trying to make sense of AI's impact on markets, careers, investing and everyday life, this discussion offers clarity, context and a refreshing dose of calm.    Learn more about Lisa here.    Amy Jo has a professional partnership with Lisa and her team at Raymond James via the Renegade Multi Family Office. If you'd like to learn more about working with Lisa, reach out to Amy Jo at amy@amyjomartin.com.   Amy Jo Martin speaks globally on Humanizing AI, Leadership, Decision-Making, and the Future of Work. Learn more about keynote topics and availability: amyjomartin.com/speaking   Learn more about Amy Jo: https://amyjomartin.com/ Get Amy Jo's newsletter: https://amyjomartin.com/newsletter Watch Amy Jo's Speaking Reel: https://amyjomartin.com/speaking   Follow Amy Jo… Instagram: https://www.instagram.com/amyjomartin/ X/Twitter: https://twitter.com/amyjomartin Facebook: https://www.facebook.com/AmyJoMartin/ YouTube: https://www.youtube.com/@AmyJoMartinRenegade Why Not Now? Instagram: https://www.instagram.com/whynotnow/ Buy Amy Jo's book: https://amyjomartin.com/book Follow Renegade Global: https://www.instagram.com/renegade_global

She helped advisors make the move for two decades. Then she had to make it herself. A headhunter called. Shannon said she would do a five minute call just to give a name. Several months later she was the new president of Ozark. This is not a story about being unhappy. Shannon loved Raymond James, still does and is still a shareholder. This is a story about a harder kind of decision: the one where everything is fine and something still pulls you toward more. The turning point came from advice she had already given her own daughter. Kaylee got into the Naval Academy while her friends headed to Florida State. Shannon told her: if you don't try this, you will be my age wondering what if. That same question came back when she was sitting with her own decision about Ozark. Now she is leading a firm that calls itself a four billion dollar startup. Ozark completed its Journey to One consolidation last summer, meaning it has only operated as a single unified firm for nine months. It is multicustodial, working with BNY, NFS, Schwab, and Investnet. And it is building a platform it describes as adaptable, designed to put new tools in front of advisors fast, including AI tools already in use across the firm. Frank and Shannon also get into what AI actually means for advisors. Not that it will replace them, but that advisors who use AI will pull ahead of those who do not. The advisor of the future will manage AI the way today's advisor manages a team of managers. And the thing that will matter most in that world is the one thing AI still cannot replicate: a real human being picking up the phone.   Questions answered in this episode include: How do you walk away from a firm you genuinely love after 22 years? What is the mental exercise that helped Shannon finally decide to join Ozark? Why did Ozark describe itself as a four billion dollar startup? What does multicustodial really mean for an advisor trying to grow their practice? How is AI changing the day to day work of a financial advisor? Will AI replace financial advisors? What does it look like for a firm to build a platform for the future rather than just the present?   Chapters: 1:00 - Introduction: Shannon Reid, President of Ozark 3:01 - The Conversation That Started Everything 6:44 - What If You Never Try 9:41 - Ozark: A $4 Billion Startup 11:03 - Journey to One and What Comes Next 14:29 - The Multicustodial Advantage 18:35 - AI and the Future of the Financial Advisor   Learn more about Elite and our resources: Elite Consulting Partners | Financial Advisor Transitions https://eliteconsultingpartners.com Elite Marketing Concepts | Marketing Services for Financial Advisors https://elitemarketingconcepts.com Elite Advisor Successions | Advisor Mergers and Acquisitions https://eliteadvisorsuccessions.com JEDI Database Solutions | Technology Solutions for Advisors https://jedidatabasesolutions.com Elite Wealth Management Insights Report https://eliteconsultingpartners.com/insight-report Listen to more Advisor Talk episodes https://eliteconsultingpartners.com/podcasts/

In "Reducing TCO Through Renewable Natural Gas" Joe Lynch and Scott Brinner, Vice President of RNG Solutions at Nopetro Energy, discuss how fleets can cut emissions while boosting their bottom line. Efficiency meets sustainability. About Scott Brinner Scott Brinner serves as the executive Vice President of RNG Solutions at Nopetro Energy, where he is responsible for developing and executing the division's strategy, business development and expansion. His prior experiences include working as a CPA with Ernst & Young, executive vice president, Corporate Development & Strategic Accounts, at OmniTRAX, and as an investment banker with Wells Fargo and Raymond James, where he advised companies in transportation/logistics and waste/environmental services. Scott has an MBA from the University of Chicago and received both a BS, in Accounting and Finance, as well as a Master's in Accountancy, from Miami University in Oxford, Ohio.  About Nopetro Energy Founded in 2008, Nopetro Energy is a vertically integrated energy leader focused on the production and distribution of renewable natural gas (RNG) for heavy duty transportation and industrial consumption. The company provides end-to-end energy and transportation management solutions, helping government agencies and companies strengthen fuel independence and create lasting economic value. Nopetro designs, builds, finances and operates both renewable natural gas production plants and fueling stations, allowing fleets to transition to this substantially less expensive, cleaner and domestically produced alternative to diesel. Visit www.nopetroenergy.com to discover how Nopetro is leading the way to a more energy-independent and financially predictable future. Key Takeaways: Reducing TCO Through Renewable Natural Gas In "Reducing TCO Through Renewable Natural Gas" Joe Lynch and Scott Brinner, Vice President of RNG Solutions at Nopetro Energy, discuss how fleets can cut emissions while boosting their bottom line. Efficiency meets sustainability. RNG as a Total Cost of Ownership (TCO) Driver: Unlike many "green" technologies that require a financial sacrifice, transitioning to Renewable Natural Gas can actually lower the total cost of ownership. While the trucks may have a higher upfront cost (roughly $70k–$90k more), the significantly lower and more stable fuel prices can lead to a payback period of just 2 to 3 years. The "Closed Ecosystem" of RNG: RNG is a vertically integrated solution that captures organic waste from landfills, dairy farms, and wastewater treatment plants. By cleaning these molecules and putting them into the pipeline, Nopetro turns a potential environmental pollutant into a high-performance fuel that can achieve zero or even negative carbon emissions. The Game-Changing Cummins X15N Engine: Historically, the trucking industry lacked an engine with the power and torque required for heavy-duty, 80,000+ lb loads. The new 15-liter natural gas engine from Cummins is a "workhorse" that matches diesel performance, range, and horsepower, removing the primary technical barrier for over-the-road fleets. Fuel Price Stability vs. Diesel Volatility: Because RNG is domestic and tied to stable natural gas indices rather than global oil markets, it protects fleets from "spikes" caused by international conflict. This allows for predictable budgeting and even the potential for long-term, fixed-price fuel contracts—unheard of in the diesel world. Proven Success in Adjacent Sectors: While OTR trucking is in the early stages of adoption, the waste management and transit industries have already proven the model. Nearly 50% of waste refuse trucks and 40% of transit buses in the U.S. now run on natural gas because it is more economical and easier to maintain. Infrastructure and "Behind the Fence" Solutions: Fleet owners don't have to wait for a public station on every corner. Nopetro specializes in building dedicated fueling stations directly at or near truck terminals. This "hub and spoke" approach ensures that dedicated routes have reliable, high-pressure fueling exactly where they need it. Sustainability as a Competitive Edge: Large shippers (the Scope 1 and Scope 3 emission-focused companies) are increasingly looking for "greener" partners. Trucking companies using RNG can offer a cleaner solution at the same or lower price than diesel, often securing longer-term contracts (5–7 years) by providing the carbon-neutral results that customers demand. Learn More About Reducing TCO Through Renewable Natural Gas Scott Brinner | Linkedin Nopetro Energy | Linkedin Nopetro Energy Nopetro Projects Nopetro Info Email The Logistics of Logistics Podcast If you enjoy the podcast, please leave a positive review, subscribe, and share it with your friends and colleagues. The Logistics of Logistics Podcast: Google, Apple, Castbox, Spotify, Stitcher, PlayerFM, Tunein, Podbean, Owltail, Libsyn, Overcast Check out The Logistics of Logistics on Youtube

From buying into a mismanaged family business on his mother's advice to selling at an incredibly high multiple to a PE-backed acquirer, Nate Collins shares how he built a transferable licensing company, what the post-exit "liminal period" really looks like, and why personal well-being is a greater predictor of company success than the reverse. In this episode of the DealQuest Podcast, host Corey Kupfer sits down with Nate Collins, a former CEO who managed a successful exit of his international theatrical licensing company to a large PE-backed music licensing company. Nate now works as a financial advisor and certified exit planning advisor at Raymond James, helping business owners, CEOs, and their families navigate exits both financially and emotionally. WHAT YOU'LL LEARN In this episode, you'll discover why switching from cash to accrual-based GAAP accounting early creates enormous buyer confidence, how cloud-based systems reduced licensing time from four weeks to four hours, and what makes a business truly transferable. Nate explains the "liminal period" that researchers have identified in post-exit CEOs, why feelings of worthlessness can persist for years even with significant wealth, and why a Dutch study found that personal well-being is a greater predictor of company success than the reverse. NATE'S JOURNEY Nate's path to business ownership started with a phone call from his mother. A privately held theatrical licensing company owned by about 16 different families had shares available. His mother owned some from her mother, and she told Nate he needed to buy in. By any professional investment standard, it made no sense. No dividends. An overpaid CEO. No reinvestment in the business. But he trusted his mother, the price was low, and he bought in. About eight years later, the existing CEO had to be fired, and Nate stepped into leadership. He had been working in private equity and investment banking on the capital markets side and held an MBA, but none of that fully prepared him for the CEO role. He describes himself as a CEO operator, not a CEO salesperson, someone who looked at the org chart upside down and focused on supporting the rest of the team rather than being the public face. Over eight to nine years, Nate transformed the company. He oversaw roughly a 97% attrition rate while rebuilding the team, switched to accrual-based GAAP accounting on his CFO's advice, and invested in a cloud-based tech stack that made the company fully remote in 2012, two weeks before Superstorm Sandy knocked out power in lower Manhattan. The company reduced licensing time from over four weeks to under four hours. When it came time to sell, the buyer, a music licensing company roughly ten times larger, adopted the entire tech stack for its own future growth. The company sold at what Nate describes as an incredibly high multiple. Then the real challenge began. THE LIMINAL PERIOD Nate references research by South African researchers who identified the "liminal period," the time between leaving one chapter and finding the next, marked by feelings of worthlessness, confusion, and depression. Nate experienced it for three to four years, with stretches where he would sleep only three or four hours a night, flooded with anxiety. He had significant money in the bank, was an expert in financial planning, and was still convinced he would be living out of the back of his car with his family in ten years. He talks about purpose, community, and identity as the elements that collapsed overnight. A business coach later helped him add a fourth dimension, health. Together, these capture what disappears when you sell. The purpose of supporting a team every day. The community of colleagues. The identity of being CEO. And the health foundation that gets undermined when income shifts from a regular paycheck to capital you don't know how to relate to. KEY INSIGHTS Exit readiness and operational excellence are the same pursuit. Nate didn't build cloud systems or switch to GAAP accounting to sell. He did it because he hated putting out fires. Every improvement that made the business better to run also made it dramatically more transferable and valuable. Purpose comes from relevance, not soul-searching. The advice to "go find a purpose" is too abstract. What works is finding where you are relevant to others, where your presence is improving someone's life. Personal well-being predicts company success. A Dutch study found that personal well-being was a greater predictor of company success than the reverse. Business owners who wait until after the exit to invest in their own health are leaving both fulfillment and business performance on the table. Wealth management has three legs, not one. Tax strategy and asset protection are as critical as investment management, especially for business owners whose wealth is concentrated in a single illiquid asset. Build community and purpose outside your business while you still have it. The people in your business will forget you existed the day after you sell. Relationships and meaning outside the company are how you avoid the worst of the liminal period. Perfect for business owners planning exits, entrepreneurs thinking about transferability, and founders who worry about what comes after the sale. FOR MORE ON THIS EPISODE https://www.coreykupfer.com/blog/natecollins FOR MORE ON NATE COLLINS LinkedIn: https://www.linkedin.com/in/nate-collins/ Company: https://www.raymondjames.com/founderwealthstrategies/events FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps [00:03:23] - Introduction and bio [00:07:05] - First deal, buying into a family-owned licensing company on his mother's recommendation[00:09:19] - Transforming the company with 97% attrition and building a dynamic team[00:14:03] - How theatrical licensing works, from school plays to international tours [00:18:52] - Switching to accrual-based GAAP accounting and the impact on buyer confidence [00:20:25] - Cloud systems, surviving Superstorm Sandy, and reducing licensing time from four weeks to four hours [00:25:30] - Written processes and procedures as a transferability driver [00:30:04] - Being a CEO operator versus a CEO salesperson [00:32:12] - The liminal period, post-exit depression, and the smallest violin problem [00:36:08] - Losing purpose, community, and identity overnight after the sale [00:41:04] - Finding purpose through relevance to others [00:45:51] - Dutch study linking personal well-being to company success Guest Bio Nate Collins is a former CEO who managed a successful exit of his international theatrical licensing company to a large PE-backed music licensing company in 2019. The company was a mid-market business with roughly 100 employees and mid-eight figures in revenue. Before becoming CEO, Nate worked in private equity and investment banking. He now works as a financial advisor and certified exit planning advisor at Raymond James, helping business owners, CEOs, and their families with tax mitigation, estate planning, financial planning, and preparation for life after exit. He runs a quarterly business exit planning workshop and is completing a workbook to guide business owners through the exit process. Host Bio Corey Kupfer is an expert strategist, negotiator, and dealmaker with more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker deeply passionate about deal-driven growth. He is the creator and host of the DealQuest Podcast. Show Description Do you want your business to grow faster? The DealQuest Podcast with Corey Kupfer reveals how successful entrepreneurs and business leaders use strategic deals to accelerate growth. From large mergers and acquisitions to capital raising, joint ventures, strategic alliances, real estate deals, and more, this show discusses the full spectrum of deal-driven growth strategies. Get the confidence to pursue deals that will help your company scale faster. Related Episodes Dave Hersh: The Psychology Behind Successful Exits (referenced in this episode for the "smallest violin" concept around post-exit struggles) Episode 366 - Jodi Hume: Founder Exits and the Emotional Journey Behind Major Business Decisions Episode 328 - Richard Manders: Post-Exit Transitions and Finding Purpose After Selling Your Company Episode 302 - Laurie Barkman: Preparing for a Successful Exit with Business Transition Insights Episode 330 - Pete Mohr: Building Enterprise Value and Exit Readiness Keywords/Tags post-exit depression, liminal period, exit planning, business transferability, CEO identity crisis, company valuation drivers, personal well-being business success, accrual-based accounting, exit readiness, licensing business model, sell your business preparation, post-sale anxiety, purpose after exit, mid-market exit, roll-up acquisition, business systems documentation, cloud-based operations, wealth management entrepreneurs, tax strategy business owners, certified exit planning advisor

"The primary asset of any high-performance organization is not its capital, but the quality of the decisions made by its leaders. And quality decisions require a clear mind." — Ray DalioSunaina Sinha is Global Head of Private Capital Advisory at Raymond James, with $1.7 trillion in assets under management.In an industry where "red-lining" toward burnout is a badge of honor, Sunaina has spent 15 years honing a different weapon: radical stillness. Through a dedicated meditation practice, the finance executive has transformed mental fitness into a measurable business ROI, proving that composure is the ultimate competitive advantage in volatile markets.Sunaina has been recognized by the Wall Street Journal and Dow Jones as one of the most influential figures in private equity. She is also dual-degree graduate of Stanford and Harvard, a certified sommelier, and mother of three.In this episode:• The secret to high-stakes presence and productivity.• How to balance career with family.• The #1 way to start any important meeting.• Why the long game is the only game worth playing.Before we begin, the right bit of inspiration can completely change the trajectory of someone's life, so if there's a friend or loved one who needs to hear this episode or could use some help to Win the Day, share it with them right now.Let's WIN THE DAY with Sunaina Sinha!_

Send us Fan MailIn Episode of Coffee N5, Lara Schmoisman chats with Ilya Seglin, Managing Director at Raymond James. Ilya dives deep into the world of finance, explaining what it takes for a brand to raise growth capital or achieve a successful strategic exit. They discuss the reality of "alphabet soup" fundraising (Series A, B, and beyond) and why having a "forever brand" is the ultimate goal for major acquirers.• Key Topics Covered:The difference between Strategic Acquirers and Private Equity (The "Marriage vs. Divorce" analogy).When is the right time to stop self-funding and look for outside investors?The importance of unit economics, repeat purchase behavior, and product differentiation.Why a Sephora or Ulta launch could either make or destroy your business.The "Halo Effect": How digital data informs retail success.3 Things a brand should NEVER do when trying to scale.• About Ilya Seglin: Ilya Seglin is a seasoned investment banker specializing in the consumer and beauty sectors. With years of experience at firms like Raymond James, he has been a key player in some of the most significant deals in the industry. He helps founders navigate the complexities of raising capital, finding the right strategic partners, and preparing their businesses for long-term sustainability and eventual sale. Stay Connected with The DARL:  Instagram: thedarlagency  Facebook: thedarlagency  LinkedIn: about  X: https://x.com/thedarlagency  Website: https://thedarl.com/ Don't forget to like, comment, and subscribe for more expert advice on marketing, branding, and career growth!#MarketingCareer #CoffeeN5Podcast #IlyaSeglin #BrandExit #InvestmentBanking #BeautyIndustry #StartupFunding #DigitalMarketingAgency #TheDARL #BusinessGrowthlinkedin.comTHE DARL | LinkedInTHE DARL | 17,178 followers on LinkedIn. We are breaking the rules. We are raising the bar. | We are a boutique agency that's breaking the rules and raising the bar. We are visionaries who love challenges. We are creative without limits.The Darl (@thedarlagency) on XAs a boutique marketing and production agency, we offer a dynamic approach to the new digital media era.X (formerly Twitter)The DarlIntegrated MarketingThe No-Agency Agency means lean, agile, and transparent marketing built for your brand's success.Support the show

In this episode, Nate Collins from Raymond James shares insights on how sophisticated capital evaluates companies beyond revenue and EBITDA, emphasizing the importance of building a scalable, well-structured business to attract premium valuation and prepare for liquidity events.

CONVENTION SPONSORS: Bird Dog Whiskey and Cocktails, Benelli, & Raymond James.The Ducks Unlimited National Convention is more than a meeting — it's a celebration of people, conservation, and one of the greatest fundraising achievements in conservation history.In this episode, host Jimbo Robinson is joined by DU President Bob Spoerl, National Convention Chair Jared Brown, and Managing Director of National Conferences Pattie Kempka for a full preview of the 2026 Ducks Unlimited National Convention in Tampa, Florida. From opening night at the Florida Aquarium to the culmination of DU's historic $3‑billion conservation campaign, this conversation breaks down why the national convention is unlike any DU event at the state or local level.The group walks listeners through the full week — fishing tournaments, conservation tours, business sessions, recognition events, keynote speakers, and the energy that comes with gathering more than a thousand committed DU volunteers and supporters in one place.Whether you're a longtime volunteer, a first‑time convention attendee, or someone who has supported DU in any way over the past few years, come hear why Tampa is the place to be!REGISTER NOW! @ Convention.ducks.orgSPONSORS:Purina Pro Plan: The official performance dog food of Ducks UnlimitedWhether you're a seasoned hunter or just getting started, this episode is packed with valuable insights into the world of waterfowl hunting and conservation.Bird Dog Whiskey and Cocktails:Whether you're winding down with your best friend, or celebrating with your favorite crew, Bird Dog brings award-winning flavor to every moment. Enjoy responsibly.

This hour: David Faber, Sara Eisen, and Michael Santoli kicked off the hour with the latest takeaways from earnings before diving into the market outlook with Piper Sandler's Chief Investment Strategist. Plus: how to trade Tesla as shares fall post-results with one analyst forecasting more pain to come... and a deep-dive on the health of the economy with the CEO of Raymond James, fresh off record numbers from their company.  Elsewhere this hour: exclusive results from CNBC's latest All-America Survey, exclusive comments from IBM's CEO, and more on software's  slump in the early trade... And don't miss a discussion on whether AI's future is open source with the CEO of Nvidia-backed AI company 'Reflection'.  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we break down what growth stocks and value stocks really are, why they behave differently, and why investors often get tripped up trying to choose between them. Alex starts with the basics. Growth stocks are companies that are expected to increase earnings or revenue faster than the overall market. These businesses usually reinvest heavily into expansion, new products, or new markets, which means they often pay little or no dividend. Investors are usually willing to pay more for these companies today because of what they may become in the future. That potential can create strong upside, but it also makes growth stocks harder to value and often more volatile. We then contrast that with value stocks. These are usually more established businesses that trade at lower valuations relative to earnings or fundamentals. They tend to have steadier cash flow, more mature business models, and in many cases they return profits to shareholders through dividends. Value investing is usually less about big future expectations and more about what an investor is paying for right now. These stocks can feel less exciting, but that stability and predictability are often part of the appeal. From there, we explain why neither style is always better. Growth tends to do well when interest rates are low, optimism is high, and investors are more comfortable paying for future earnings. Value tends to hold up better when rates are higher, inflation is a concern, and investors care more about present cash flow and valuation discipline. Market leadership rotates because the economic environment changes, investor sentiment changes, and pricing changes with it. The heart of the episode is the warning against trying to time those rotations. Often, investors chase whatever has been working recently, only to shift right before leadership changes. The last several years have shown exactly how quickly that can happen, with growth leading, then value, then growth again, and now value showing strength in early 2026. That kind of movement feels obvious only in hindsight. The main takeaway is simple. Instead of trying to guess which style will win next, we are better served by owning a mix of both. A balanced portfolio, combined with regular rebalancing, creates discipline. It helps trim what has recently run up and add to what has lagged. That reduces performance chasing and keeps the portfolio aligned over time.  As always, successful investing is usually less about prediction and more about structure, patience, and staying diversified. You can always email Alex and Ed at info@birchrunfinancial.com or give them a call at 484-395-2190.Or visit them on the web at https://www.birchrunfinancial.com/Alex and Ed's Book: Mastering The Money Mind: https://www.amazon.com/Mastering-Money-Mind-Thinking-Personal/dp/1544530536 Any opinions are those of Ed Lambert Alex Cabot, financial advisors, RJFS, and Jon Gay, and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The examples throughout this material are for illustrative purposes only. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional. Diversification and asset allocation do not ensure a profit or protect against a loss. Past performance is not indicative of future returns. CDs are insured by the FDIC and offer a fixed rate of return, whereas the return and principal value of investment securities fluctuate with changes in market conditions. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. Stock Market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. International investing involves special risks, including currency fluctuations, differing financial accounting standards, and possible political and economic volatility. There is an inverse relationship between interest rate movements and bond prices. Generally, when interest rates rise, bond prices fall and when interest rates fall, bond prices generally rise. Investing in small cap stocks generally involves greater risks, and therefore, may not be appropriate for every investor. The prices of small company stocks may be subject to more volatility than those of large company stocks. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Birch Run Financial is not a registered broker/dealer and is independent of Raymond James Financial Services. Birch Run Financial is located at 595 E Swedesford Rd, Ste 360, Wayne PA 19087 and can be reached at 484-395-2190. Any rating is not intended to be an endorsement, or any way indicative of the advisors' abilities to provide investment advice or management. This podcast is intended for informational purposes only.Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users or members. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Longevity Planning with Eliot Weissberg Hosts Brad and Cory speak with Eliot Weissberg of The Investors Center Our guest on this episode is Eliot Weissberg. Eliot is President of The Investors Center, a financial planning and longevity planning practice. Their goal is to guide people to discover and leverage their capacity to age confidently, in part by utilizing "TimeLining" which Eliot created and trademarked in 2009. Eliot is a CFP and a CAPS (Certified Aging in Place Specialist). He is a member of the National Aging In Place Council (NAIPC) and the MIT AgeLab They discuss:  What a Certified Aging in Place Specialist is  Longevity planning and how it can help grow your business  How to implement an investment strategy to compliment longevity, and to what age Contact Eliot: www.theinvestorscenter.com     Eliot Weissberg, CFP®, CAPS is a Branch Manager with Raymond James Financial Services and President of The Investors Center. He can be reached at 860-677-8808 / 70 E Main St. Ste 5, Avon CT, 06001. Securities offered through Raymond James Financial Services, Inc., member FINRA / SIPC. Investment advisory services offered through Raymond James  Financial Services Advisors, Inc. The Investors Center is not a registered broker/dealer and is independent of Raymond James Financial Services.

So, what is next for this record setting rally? We discuss with Partners Group's Anastasia Amoroso. Plus, airline analysts are cutting their forecasts ahead of a busy week of earnings for the sector. We discuss with top analyst Savanthi Syth from Raymond James. And, Capital Wealth Planning's Kevin Simpson breaks down his latest trades. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Every firm says they have great culture. Very few can back it up. Raymond James can. And in this episode, they explain exactly how. Frank LaRosa sits down with Jodi Perry, Head of Advisor Recruitment and Business Development and Todd Ferguson, Chief Information and Security Officer at Raymond James, for a wide ranging conversation recorded live at the Ignite Conference. The group breaks down what it really means to put the advisor in the driver's seat, why the freedom versus independence distinction matters more than most advisors realize and how Raymond James has been doing for 25 years what other firms are only now starting to talk about, including putting the advisor's ownership of their business in writing through the Advisor Bill of Rights. The conversation also gets into AI and technology in a way you will not hear anywhere else. The group breaks down how Raymond James is investing $1 billion in technology to give advisors more time for the relationship side of the business, how their opportunities platform surfaces client service gaps before they become problems and what every advisor needs to know about protecting their clients from bad actors and digital fraud in today's environment.   Questions answered in this episode include: Why is Raymond James a strong option for financial advisors right now regardless of where they are in their career? What is the difference between freedom and independence at Raymond James? What is the Advisor Bill of Rights and why does no other W2 firm offer it? How is Raymond James investing $1 billion in technology to help advisors grow their practices? Will AI reduce headcount in an advisory practice or expand its capacity? What should advisors do right now to protect their clients from bad actors and digital fraud? How does Raymond James approach advisor recruiting differently from other firms?   Chapters: 01:02 – Welcome: Ignite Conference Edition with Jodi Perry and Todd Ferguson 02:03 – Why Raymond James Now: Flexibility Across Every Stage of an Advisor's Career 03:38 – Culture Is Experiential: What That Really Means at Raymond James 05:31 – Freedom vs Independence: Why W2 at Raymond James Is Different 08:29 – The Advisor Bill of Rights: Putting Ownership in Writing 10:46 – AI and Technology: How Raymond James Is Using a $1 Billion Investment 15:57 – Bad Actors and Cybersecurity: What Every Advisor Needs to Know 25:20 – Quality Over Quantity: How Raymond James Thinks About Growth   Learn more about Elite and our resources: Elite Consulting Partners | Financial Advisor Transitions https://eliteconsultingpartners.com Elite Marketing Concepts | Marketing Services for Financial Advisors https://elitemarketingconcepts.com Elite Advisor Successions | Advisor Mergers and Acquisitions https://eliteadvisorsuccessions.com JEDI Database Solutions | Technology Solutions for Advisors https://jedidatabasesolutions.com Elite Wealth Management Insights Report https://eliteconsultingpartners.com/insight-report Listen to more Advisor Talk episodes https://eliteconsultingpartners.com/podcasts/

Most financial plans cover the numbers, but what about everything else? In this episode, Patti Brennan welcomes Frank McAleer, Key Financial's new Vitality Planning specialist, to introduce a concept that goes far beyond the balance sheet. Drawing on his personal caregiving experience and years of longevity planning at Raymond James, Frank explains why being financially prepared is only half the equation. Together, Patti and Frank explore the resources, tools, and conversations that help clients age with confidence. From aging-in-place assessments to Medicare navigation, family organization, fraud protection, and the MIT AgeLab's research on thriving in retirement, this episode is packed with resources you don't want to miss.

Raymond James sees more growth opportunities ahead for Okta Inc. (OKTA), according to the firm's latest upgrade on the company. Diane King Hall adds that dissipating headwinds and AI trends offer a bigger runway for the cybersecurity firm. It's a stark contrast from Flutter (FLUT), which got a double downgrade from Citi. Diane notes another downgrade on PayPal (PYPL) to neutral from outperform. ======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe 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

In this episode of Carlsbad: People, Purpose and Impact, host Bret Schanzenbach welcomes JP Witkop, Vice President at Raymond James & Associates.JP shares his journey from Rochester, New York to Carlsbad, California, including his background as a collegiate hockey player and how those connections helped launch his career in financial advising. He discusses his transition from research and corporate finance into building his own advisory practice and now leading the Carlsbad office for Raymond James.The conversation highlights what sets Raymond James apart, including its advisor-first culture, flexible business models, and strong emphasis on independence and entrepreneurship. JP also discusses the firm's growth strategy on the West Coast and its commitment to community engagement in Carlsbad.Additionally, JP shares insights into his evolving focus on helping business owners navigate exit planning, leveraging Raymond James' investment banking and wealth management capabilities.Whether you're a business owner, financial professional, or Carlsbad local, this episode offers valuable insight into leadership, growth, and building a meaningful career. Did this episode have a special impact on you? Share how it impacted youCarlsbad Podcast Social Links:LinkedInInstagramFacebookXYouTubeSponsor: This show is sponsored and produced by DifMix Productions. To learn more about starting your own podcast, visit www.DifMix.com/podcasting

Part 2 - Host Neville James shifts from infrastructure updates to a political discussion with Raymond James from Rattan Poll, exploring early public sentiment ahead of an open gubernatorial race. The conversation examines polling data, potential candidates, key voter issues like the economy and healthcare, and the impact of party dynamics and recent controversies on the political landscape.

Marley Kayden covers the latest analyst upgrade on Walt Disney (DIS). Raymond James lifted the stock to Outperform from Market Perform, citing a “very attractive valuation.” Scott Bauer sells an iron condor example options trade on Walt Disney.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe 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

What are bonds? This is the next part of our ongoing breakdown of core investing building blocks, following stocks and gold in January and February, respectively. Bonds are often misunderstood, but at their core they are simple. Ed starts us off with the basics. A bond is a loan. When we buy a bond, we lend money to a government, corporation, or municipality. In return, they pay us interest over time and return our principal at maturity. Unlike stocks, we are not buying ownership or growth. We are buying predictability and stability. Next, the key components of a bond: We cover principal, which is typically $1,000 per bond, the coupon, which is the interest payment, and maturity, which is when we get our money back. Longer maturities usually come with higher interest because they carry more uncertainty. We also highlight a critical concept. Bond prices and interest rates move in opposite directions. When rates rise, bond prices fall. When rates fall, bond prices rise. This helps explain why bonds struggled in 2022 and how they can recover when rates decline. Why do bonds exist? From the issuer's side, they are a way to raise money for spending, projects, or refinancing debt. From the investor's side, bonds provide steady income, lower volatility than stocks, and diversification within a portfolio. They help create balance and reduce overall risk. Alex then explores different types of bonds. We cover U.S. Treasuries, municipal bonds, and corporate bonds. Treasuries are considered the safest. Municipal bonds can offer tax advantages. Corporate bonds provide higher yields but come with more risk. Further, within corporate bonds, we distinguish between investment grade and high yield, or junk bonds, which carry greater default risk but higher potential returns. We also explain the risks involved. These include credit risk, interest rate risk, reinvestment risk, and inflation risk. While bonds are more stable than stocks, they are not risk free. Understanding these risks is essential for proper portfolio planning. Finally, we emphasize the role bonds play in a portfolio. They provide income, stability, and psychological comfort during market volatility. They help investors stay disciplined and avoid emotional decisions.  Bonds may not be "exciting," but they can be a key portfolio piece  for balance and long term success. You can always email Alex and Ed at info@birchrunfinancial.com or give them a call at 484-395-2190.Or visit them on the web at https://www.birchrunfinancial.com/Alex and Ed's Book: Mastering The Money Mind: https://www.amazon.com/Mastering-Money-Mind-Thinking-Personal/dp/1544530536 Any opinions are those of Ed Lambert Alex Cabot, financial advisors, RJFS, and Jon Gay, and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The examples throughout this material are for illustrative purposes only. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional. Diversification and asset allocation do not ensure a profit or protect against a loss. Past performance is not indicative of future returns. CDs are insured by the FDIC and offer a fixed rate of return, whereas the return and principal value of investment securities fluctuate with changes in market conditions. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. Stock Market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. International investing involves special risks, including currency fluctuations, differing financial accounting standards, and possible political and economic volatility. There is an inverse relationship between interest rate movements and bond prices. Generally, when interest rates rise, bond prices fall and when interest rates fall, bond prices generally rise. Investing in small cap stocks generally involves greater risks, and therefore, may not be appropriate for every investor. The prices of small company stocks may be subject to more volatility than those of large company stocks. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Birch Run Financial is not a registered broker/dealer and is independent of Raymond James Financial Services. Birch Run Financial is located at 595 E Swedesford Rd, Ste 360, Wayne PA 19087 and can be reached at 484-395-2190. Any rating is not intended to be an endorsement, or any way indicative of the advisors' abilities to provide investment advice or management. This podcast is intended for informational purposes only.Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users or members. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Enlightened Family Business Podcast Ep. 156: The Hollow Win: What a $30M Exit Taught One CEO About Money, Purpose, and What Actually Matters with Nate collins   In this episode of the Enlightened Family Business Podcast, host Chris Yonker, interviews Nate Collins, of Raymond James on why family businesses should prepare for a potential sale even if they have no intention to sell. Collins shares his experience taking over a 170–180-year-old New York City licensing company owned by 16 families, receiving an unsolicited offer, and completing a financially strong but imperfect exit due to limited preparation and lack of independent board oversight. They discuss reducing key-person risk, documenting processes, upgrading accounting and systems, strengthening management teams, and regularly revisiting future org needs as markets change. Collins emphasizes clarifying business, personal, and financial goals; using advisors as investments; and starting with an exit planner to coordinate M&A, legal, tax, and wealth planning. He also addresses post-exit purpose, community, and wellbeing, and offers a free quarterly exit planning workshop.   ·       02:35 Meet Nate Collins ·       03:59 Running a Multi Family Firm ·       05:53 The Unplanned Sale Lessons ·       09:40 Build to Be Transferable ·       15:45 Succession Org Planning ·       18:28 Next Gen Reality Check ·       23:00 Assemble the Exit Team ·       26:04 Wealth Without Ruin ·       29:53 Purpose After the Exit ·       37:46 Resources and Farewell Websites: ·       fambizforum.com. ·       www.chrisyonker.com ·       Raymondjames.com ·       Linkedin: @nate-collins   Nate Bio: Nate is a former CEO who managed a successful exit to a large, PE-backed media company. He now works with a limited number of business owners, CEOs, and their families to help ensure they are achieving their financial goals. As a Financial Advisor and Certified Exit Planning Advisor, he provides in-depth tax mitigation and estate planning strategies, as well as financial planning and investment management. Nate helps owners understand exit readiness and options, wealth transfer, gain family alignment, and prepare for "life after exit."  

Episode 352 Notwithstanding President Trump's efforts to slow the growth of renewable energy, the US/Israeli attack on Iran has given the green revolution a huge boost. In response to the war in Iran, the Islamic Republic has stopped almost all traffic in the Strait of Hormuz, a waterway through which one-fifth of global oil and one-fifth of seaborne gas supplies pass. They've also struck oil and gas fields with drones and missiles. This has given countries a much-needed wake-up call, showing just how precarious it is to rely so heavily on foreign states for energy security. As the cost of oil jumps from $70 to more than $100 a barrel, many countries are looking to produce more energy closer to home, accelerating plans to transition to clean and renewable energy. Rowan Hooper and Alec Luhn discuss whether this is the beginning of the end for fossil fuels. Also hear from Pavel Molchanov from Raymond James & Associates and Sam Butler-Sloss from Ember. Chapters (00:00) Intro - War in Iran speeds up the clean energy transition (00:59) A precedent set by the Ukraine/Russia war (02:27) Asia's wake-up call (03:20) Are smaller countries pivoting to renewables already? (04:24) An energy security issue (07:16) Why oil is being impacted more than gas (08:56) Could China win big from this? (14:17) The impact on nuclear energy (15:57) When will countries give up fossil fuels for good? (18:05) The political will is shifting To read more about these stories, visit https://www.newscientist.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

In recognition of International Women's Month, I'm releasing a montage of advice from some of the most accomplished women in our industry.   These remarkable leaders have navigated one of the most demanding and historically male-dominated corners of business and have done it with conviction, resilience, and extraordinary leadership.   If you're a young professional, a student considering this industry, or a leader developing the next generation of talent, this episode is worth your time.   Sunaina Sinha - Global Head, Private Capital Advisory, and Senior Managing Director, Raymond James https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000667167867   Shannon Zoller - Founder, Tephra Advisors https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000552841977   Neha Markle - Managing Director, Morgan Stanley https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000633494095   Caroline Stevens - Investor, MPK Equity Partners https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000597747344   Chrisanne Corbett - Managing Director, KPMG https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000432826264   Deborah Smith - Co-Founder and CEO, The CenterCap Group https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000557619821   Devon Kirk - General Partner, Portage Capital Solutions  https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000658066071   Franny Jones - Partner, Investor Relations, The Sterling Group https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000452341799   Gina Luna - Partner, GP Capital https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000555838972   Gretchen Perkins - Partner(Origination), Avance Investment Management https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000453890941   Kristin Johnson - Managing Director, Altamont Capital Partners https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000726285319   Lauren Moohalland - Waypoint Ridge Capital https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000468986627   Lucy Heintz - Partner, Head of Energy Infrastructure, Actis https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000701104377   Michelle Noon - Founder and Managing Partner, Clearhaven Partners https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000733152917   Neda Vakilian - Partner, Actis https://podcasts.apple.com/us/podcast/private-equity-fast-pitch/id1359329939?i=1000713638680

Nvidia is on pace for its worst day since last April, but Deepwater Asset Management is staying bullish. More than 50,000 layoffs were tied to AI in 2025, but are companies merely using it as a scapegoat for job cuts? Plus, the software stocks Raymond James says are poised for short-term bounce. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Sara Eisen, and David Faber kicked off the hour with some alternative data points around AI disruption fears - before breaking down where Piper Sandler thinks you should put money to work with their Chief Strategist. Plus: Wall Street takeaways from last night's State of the Union Address with Raymond James' policy head... and more on how to trade Nvidia ahead of results tonight.    Also in focus: a morning of huge movers in the spanning earnings and media news... What NFL negotiations have to do with it - along with the latest developments in the fate for Warner Brothers Discovery, including details on Paramount's newest offer... And hear a read on EV demand with the interim CEO of Lucid - who joined the team fresh off quarterly results there.    Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

HousingWire brought leading housing economists and capital markets experts to Dallas for the Housing Economic Summit with one goal: translate charts and forecasts into what actually matters for professionals trying to close deals every day. In this episode, John Toohig of Raymond James breaks down whole loan trading—the buying and selling of unsecuritized mortgages—and explains why understanding liquidity on the back end is now just as important as originating the loan itself. As originators adjust to life after the 2021–2022 refinance boom, John outlines where the real opportunities are today: HELOCs, second liens, ARMs, and purchase loans—especially in a market full of “trapped equity.” He also explains why mortgage credit is historically clean (perhaps too clean), why banks are re-entering the ARM market, which loan types are hardest to sell in the secondary market, and what separates lenders who consistently move loans from those who struggle with due diligence. For originators, capital markets teams, and executives navigating 2026, this episode turns macro signals into actionable insight. Here's a glimpse of what you'll learn: Whole loan trades are faster and simpler than securitization HELOCs and second liens represent major opportunity amid trapped equity Banks are returning — especially in ARMs Credit is extremely “clean,” perhaps tighter than necessary Organized files and disciplined underwriting drive repeat investor demand Related to this episode: John Toohig's Bio John Toohig's LinkedIn The Power House podcast brings the biggest names in housing to answer hard-hitting questions about industry trends, operational and growth strategy, and leadership. Join HousingWire's Zeb Lowe every Thursday morning for candid conversations with industry leaders to learn how they're differentiating themselves from the competition. Hosted and produced by the HousingWire Content Studio.

AI isn't the dystopia. Misvaluing the human elements is.After an AI announcement from Altruist introducing advanced tax planning automation, wealth management stocks like Charles Schwab, Raymond James, and LPL Financial fell sharply. The narrative formed quickly: AI is replacing financial advisors.That interpretation misses something deeper.In this episode of Financial Harmony™, Dr. Preston Cherry interprets what the AI disruption narrative reveals about how we define financial advice — and where mistrust in the 1% AUM model actually comes from.This is not a defense of advisors. It's a redefinition of value.Topics addressed:• Is AI replacing financial advisors? • What AI automation actually changes in financial planning • Why the 1% AUM debate is about more than price • Flat-fee vs AUM alignment • Why high-income investors still seek human advice • What people actually want from a financial advisor • How AI affects retirement planning confidence • The difference between efficiency and relational accountabilityResearch consistently shows:• Investors working with advisors report higher financial confidence. • Advised households feel more retirement preparedness. • Behavioral guidance prevents costly emotional decisions. • Affluent investors prioritize clarity and complex decision support over performance chasing.AI removes friction.It improves pace.It does not replace trust, context, or interpretive clarity.If we define financial advice as spreadsheets, AI is a threat.If we define it as navigating ambiguity, AI becomes leverage.Financial advice has never been about beating the market.It's about helping people live with their financial decisions.This episode examines:• Advisor trust and fee alignment • Why compensation structure impacts perceived value • The real drivers behind AUM mistrust • Whether automation strengthens or weakens fiduciary advice • What happens when efficiency is mistaken for value

Jittery investors continue to punish stocks of companies that may (or may not) face major disruption from artificial intelligence. Last week, it was software firms, then insurance brokers. Now, it's financial brokerages that offer people planning advice — the likes of Charles Schwab, Raymond James, and Ameriprise. But what's lost when we lose human capabilities in financial services? Plus, U.S. allies like Canada and the U.K. are increasingly turning to China for trade deals.

Jittery investors continue to punish stocks of companies that may (or may not) face major disruption from artificial intelligence. Last week, it was software firms, then insurance brokers. Now, it's financial brokerages that offer people planning advice — the likes of Charles Schwab, Raymond James, and Ameriprise. But what's lost when we lose human capabilities in financial services? Plus, U.S. allies like Canada and the U.K. are increasingly turning to China for trade deals.

La produzione industriale chiude il 2025 in calo per il terzo anno consecutivo, nonostante il rimbalzo di dicembre (+3,2% su base annua), che limita la frenata complessiva a pochi decimali. L'Istat registra a dicembre un -0,4% su novembre, ma un quarto trimestre in crescita dello 0,9% rispetto ai tre mesi precedenti. La ripresa tendenziale è sostenuta soprattutto dalla farmaceutica (+24%), dai mezzi di trasporto e dai prodotti in metallo e gomma plastica, con un forte rimbalzo degli autoveicoli (+35%) su un confronto molto debole. Restano invece in calo chimica, tessile abbigliamento e legno. Il 2025 migliora nella seconda parte dell'anno, ma il fatturato globale dell'industria, stimato a 1.122 miliardi da Prometeia e Intesa Sanpaolo, cresce solo dello 0,2%, insufficiente a recuperare il calo del 2024. In questo contesto il Nord, e in particolare il Bellunese, guarda alle Olimpiadi come volano di sviluppo. La presidente di Confindustria Belluno Dolomiti, Lorraine Berton, richiama i giovani a cogliere l'occasione dei Giochi come opportunità di crescita sostenibile per il territorio montano. Un segnale arriva dal distretto dell'occhialeria: a Cortina nasce Innovereye, primo centro globale dedicato all'adozione concreta di AI e digitalizzazione nella filiera eyewear, inserito nel progetto Dolomiti Innovation Valley per attrarre investimenti e talenti. Ci raggiunge nei nostri studi a Belluno Lorraine Berton, presidente di Confindustria Belluno Dolomiti e presidente del Gruppo Tecnico Olimpiadi, Grandi Eventi ed Economia della montagna di Confindustria.Governo a lavoro sull'atteso decreto energiaIl governo prepara un decreto energia atteso dalle imprese, mentre Confindustria torna a segnalare l'urgenza di interventi per ridurre i costi che penalizzano la competitività italiana. Il presidente Orsini avverte che l'energia spinge multinazionali a investire altrove, citando il caso Stellantis in Spagna. Il ministro Urso conferma che il provvedimento sarà esaminato dal Consiglio dei ministri la prossima settimana, con misure strutturali a sostegno dell'industria e un necessario coordinamento europeo. Secondo le anticipazioni, il decreto varrebbe circa 3 miliardi e punterebbe a ridurre il costo del gas per la produzione elettrica, con benefici per imprese e famiglie a basso reddito. Tra le ipotesi: sterilizzare il differenziale tra Ttf e Psv e spostare alcuni oneri del gas sulla bolletta elettrica. Le coperture arriverebbero dalla vendita di gas nelle disponibilità di Snam e Gse e, in parte, dalle quote CO2. Restano incognite sulla compatibilità europea e sul rischio di disincentivare le importazioni in fasi di tensione. Per questo si rafforzerebbe anche il meccanismo della gas release, con sfruttamento calmierato delle riserve nazionali a favore delle imprese energivore. Ne parliamo con Celestina Dominelli, Il Sole 24 Ore.L'AI scatena le vendite sul risparmio gestitoI mercati puniscono i titoli del risparmio gestito dopo il lancio di un nuovo strumento di intelligenza artificiale che riaccende i timori di automazione del settore. Negli Stati Uniti operatori come Charles Schwab e Raymond James perdono fino al 9%, con effetti a catena in Europa: a Milano crollano Fineco, Banca Generali, Mediolanum e Azimut, mentre scendono anche i principali gruppi europei e bancari. Il catalizzatore è l'annuncio della fintech Altruist, che ha introdotto una funzione di pianificazione fiscale basata su AI capace di analizzare documenti e generare strategie personalizzate. Il selloff riflette una paura più ampia: che l'intelligenza artificiale ridisegni il modello di business dei servizi professionali, come già visto nelle scorse settimane su software, assicurazioni e consulenza legale. Gli investitori temono una compressione dei margini e un'accelerazione della concorrenza tecnologica in un settore finora protetto dall'elevata componente umana. Il commento è affidato a Giacomo Calef, responsabile per l'Italia di NS Partners.

In this monthly wrap-up, Craig Hemke for Sprott Money is joined by Bob Thompson, senior portfolio manager at Raymond James in Vancouver, to break down the massive macro trends reshaping the gold and silver markets in early 2026. With BMO now forecasting a silver price of $150 and a gold price bull case of $6,300, this conversation reveals how Western investors are only just beginning to understand the shift already well underway in the East. Bob and Craig discuss ETF flows, the underappreciated leverage in mining stocks, and a capital-rotation event that could inject billions into the sector. From the TSX Venture to the Vancouver Resource Investment Conference, and from central bank gold accumulation to generalist investor hesitation, this episode is packed with actionable insights. Keywords: gold price, silver price, buy gold, buy silver, mining stocks, silver forecast, gold outlook, capital rotation, TSX Venture, precious metals investing, silver miners, physical gold, physical silver, macro trends 2026, Canadian markets, central banks, dollar decline, inflation hedge.

NASCAR adjusts Clash weekend schedule as they continue to monitor winter storm ahead of CLASH ay Bowman Gray, Lightning grab 4-1 home victory against Winnipeg, Lightning will face Bruins on Sunday evening outdoors at Raymond James stadium where the temperatures will be quite cold, more in today's 'Sports Page' with Mike Bianchi

Mid 8-Figure Exit Lessons: How to Avoid Millions in Taxes and Regret After the Sale with Nathan Collins   Find Rocky Lalvani @ www.ProfitComesFirst.com or email him at rocky@profitcomesfirst.com   Most business owners think the hardest part of selling a business is the deal. But the real danger often shows up after the sale: the taxes you didn't plan for and the identity shift you didn't expect In this episode of Profit Answer Man, Rocky Lalvani sits down with Nathan Collins, a former CEO who sold his business for a mid-eight-figure exit—and then realized he wasn't personally prepared for what came next. Nathan shares what he wishes he'd done differently, how business owners should think about diversifying outside the business, and why "exit readiness" is about far more than financials.    In This Episode, You'll Learn: Why many business owners hesitate to take money out of the business and invest elsewhere—and how that lack of diversification increases risk.  The difference between preparing your business for sale vs preparing your life for the exit.  The common "cheap" mistake founders make that can cost millions in avoidable taxes.  Why your CPA and financial advisor often don't proactively plan together—and how that gap hurts business owners.  What happens emotionally the day after the sale (and why so many owners feel lost even after a big win).  The "liminal phase" after an exit—and how to prepare for it with purpose, community, and health.  How systems like EOS/Traction and having the right people in the right seats can make your company stronger—and more sellable.  Why many exits are forced (not planned) and why "exit-ready" equals resilience.    The Big Takeaway: A profitable exit is not the finish line. If your identity, purpose, and community are built entirely around your company, selling can create a void—fast. And if you haven't done personal tax planning ahead of time, the IRS can take a bigger share than necessary. Exit planning is not just about maximizing the sale price. It's about being ready financially and personally—so you can enjoy the outcome you worked so hard to create.    Bio:  Nathan Collins is a wealth manager at Raymond James and a former CEO who sold his business through a successful middle-market process. He now helps business owners optimize business value, plan for liquidity events, and avoid the costly personal and financial mistakes that often happen around exits.    Links: Website: https://www.raymondjames.com/founderwealthstrategies/ LinkedIn https://www.linkedin.com/in/nate-collins/ Exit Planning Workshop Webinar: https://www.raymondjames.com/founderwealthstrategies/events nate.collins@raymondjames.com   Conclusion: Whether you plan to sell in 3 years or 30 years, the best time to prepare is now. Build a business that can run without you, diversify so you're not financially trapped in one asset, and make sure you're building a life you actually want to "retire into."   #ProfitAnswerMan #ProfitFirst #BusinessProfit #CashFlow #BusinessOwners #ExitPlanning #TaxPlanning #WealthManagement #EOS #Traction   Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman Source Sign up to be notified when the next cohort of the Profit First Experience Course is available! Free Copy of the Profit Blueprint Book:  Monthly Newsletter signup:  Relay Bank (affiliate link):  Profit Answer Man Facebook group:  My podcast about living a richer more meaningful life: http://richersoul.com/ Source Music provided by Junan from Junan Podcast.  Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. 

Sherri Snelling, gerontologist, author and host of the “Caregiving Club On Air” podcast is kicking off the first episode of Season 6 with two great interviews. For this January episode we will focus on Financial Wellness Month with two guest expert interviews from Raymond James financial advisors: (7:50) Emily Treasure – Sr. Manager for Longevity Planning – Raymond James who will talk about the new role financial advisors are playing with clients for comprehensive family financial planning that includes caregiving and long-term care costs. Emily will also highlight a unique program Raymond James has that offers connections to a specially curated group of companies that help caregivers navigate care needs and services – part of the value advisors are adding to their client services (36:20) Margaret Starner – Founder & Managing Director of The Starner Group, part of Raymond James who will speak as a “super ager” who is still going strong in her 80s running her company and advising clients on longevity planning. Margaret will explain what challenges people face after 50 in planning for the next 50 years and how each decade brings new opportunities and decisions. Her secret? Margaret shares how she advises clients to plan for passion, purpose and lifelong learning For our podcast listeners who are familiar with our Caregiver Wellness News and Well Home Design News as well as what is happening in the workplace for employees who are also caregiving as part of the Sandwich Generation – we are moving those news segments to our new “Caregiving Club News” program on YouTube. You can catch all the same news, including the latest research news, resources and pop culture we have previously done on our podcast now on our news channel – and it's all free! All we ask is that you subscribe to us on YouTube as well so you get the bi-weekly news updates and all of our other education caregiving content. Thank you for making “Caregiving Club On Air” #3 on the list of top 80 caregiving podcasts! Learn more on our episode guide page on the Caregiving Club website: caregivingclub.com/podcast/ Take Care and Stay Well!

Carl Quintanilla, Sara Eisen, & David Faber kicked off the hour with a banks breakdown - including key commentary from executives - before breaking down a number of macro headlines (from Powell pressure to a possible SCOTUS tariffs decision) with former Cleveland Fed President Loretta Mester along with Raymond James' lead U.S. policy analyst. Plus: the value investing playbook with one longtime investor in the space - Oakmark's Bill Nygren... and the latest out of a congressional underway this hour to potentially ban stock trading by lawmakers.  Also in focus: Tesla making a big shift when it comes to their Full Self Driving tech - what it means for consumers and shareholders... and a deep-dive on the key names getting hit by renewed scrutiny in China. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investing might be better by looking beyond our borders. Foreign stocks are outperforming domestic markets in key areas like banking, but aren't getting much notice from U.S. investors. David Cox, senior portfolio manager at Raymond James, explains why investors get fixated on domestic investing and how to find outperformance elsewhere in the world, including in crypto, metals and more. Learn more about your ad choices. Visit megaphone.fm/adchoices

Linktree: ⁠https://linktr.ee/Analytic⁠Join The Normandy For Additional Bonus Audio And Visual Content For All Things Nme+! Join Here: ⁠https://ow.ly/msoH50WCu0K⁠ In this segment of Notorious Mass Effect, Analytic Dreamz offers a focused, data-driven breakdown of Zach Bryan's introspective album track “Plastic Cigarette” from his new project With Heaven On Top, released January 9–10, 2026, via Warner Records / Belting Bronco Records.Born 1996 in Oologah, Oklahoma, Zach Bryan rose from raw, self-uploaded songs during his 7–8 years in the U.S. Navy (honorable discharge 2021) to major-label success with American Heartbreak (2022, No. 1 Top Country Albums), the self-titled Zach Bryan (2023), and a Grammy win for “I Remember Everything” (with Kacey Musgraves). His signature style—introspective, emotionally raw Americana, folk, outlaw country—prioritizes authenticity over polish.“Plastic Cigarette” (track 15) debuted live in Dublin, Ireland (summer 2025) and quickly became a fan favorite. The understated, reflective song explores emotional longing, regret, artificial coping mechanisms, and the metaphor of a “plastic cigarette” as a substitute for genuine connection. Critics praise its use of space, warmth, minimalism, and atmospheric restraint over hook-driven structure (noted by Pitchfork, Stereogum, Holler.country, StayFreeRadioIP).As a non-lead single, it lacks immediate chart entries (no Hot 100, Hot Country Songs, or UK Singles peaks as of January 13, 2026), but benefits from album-wide streaming surges, fan playlist placement (~1.7K saves on one reported list), strong Reddit/social engagement, and organic discovery. No significant radio push or media syncs yet.Bryan reinforces his unfiltered ethos with a full acoustic version of With Heaven On Top—recorded solo, one-take per song, no overdubs—dropping just three days post-album to preempt overproduction critiques. The project was recorded across three Oklahoma houses in winter, emphasizing live takes, minimal polish, emotional immediacy, and collaboration with close friends as a return to spiritual, less commercial roots.Analytic Dreamz examines how “Plastic Cigarette” aligns with Bryan's pattern: slow-burn traction for non-singles, growth via live teases, fan-driven long-tail streaming, and tour amplification. The upcoming With Heaven On Tour (March–October 2026) hits stadiums across the U.S. (Raymond James, Bank of America, Gillette, Empower Field, multiple nights at Tottenham Hotspur), UK (Anfield), Ireland, and Europe (Spain, Germany, Norway, Denmark, Netherlands), setting the stage for sustained catalog and album momentum.Join Analytic Dreamz for this no-fluff analysis of a deeply resonant, authenticity-first track poised for organic growth in 2026. Stream “Plastic Cigarette” and With Heaven On Top now—stay locked in for more Notorious Mass Effect.Support this podcast at — https://redcircle.com/analytic-dreamz-notorious-mass-effect/donationsPrivacy & Opt-Out: https://redcircle.com/privacy

Billy Derrick and Joe Bulovas are joined by Vanderbilt alum and former baseball student manager Mark Pyburn to discuss his current role with CAA Sports, learning under Tim Corbin, Nashville roots, the Vanderbilt community, and much more. If there's one thing we all share, it's that our lives are all unique. At Raymond James, they believe that's worth celebrating. Because financial planning isn't just about numbers and figures, it's about creating the life you envision. So whether you're building a future or preparing for retirement, a Raymond James financial advisor can guide you each step of the way – all while following a plan that's uniquely yours. That's life well planned. To learn more, call financial advisor [Joe Bulovas with Bulovas Wealth Management of Raymond James] at [615-645-6742]. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.