Podcasts about Rockefeller

Diving into the letters John D. Rockefeller wrote to his son.-----Sources:The 38 Letters From J.D. Rockefeller to his sonTitan - Ron Chernow-----4:30 - Your destiny is determined by your actions10:00 - Self-control and discipline11:25 - Planning luck is planning life13:34 - Work as a key to happiness16:15 - Does it keep you up at night17:35 - Don't be a passive person20:00 - Mortgage for the future21:25 - On failure25:05 - Belief is necessary31:17 - Excuses are the source of failure32:55 - Attitude determines achievements34:10 - Greed is necessary36:50 - Keys to wealth41:45 - The importance of self-reflection46:35 - Two types of people to avoid49:50 - The peace of conscience is the only reliable reward.

It is the first of our Spiderwebs of Babe Paley episodes this week! Today, we are taking a journey into the past with reporting from The Saturday Evening Post from June 22, 1963 to spend a little time with Happy Rockefeller. Happy and Nelson Rockefller have just married, and oh my, it is a scandal for the ages. With much commentary about Happy's earlier days, this one does really include everything you like - and the spiderwebs too! Continue your investigation with ad-free and bonus episodes on ⁠⁠⁠Patreon⁠⁠⁠! To advertise on Done & Dunne, please reach out to ⁠⁠⁠info@amplitudemediapartners.com⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Capital Hacking, Josh sits down with renowned investor, entrepreneur, and Cashflow Ninja host MC Laubscher to discuss how business owners can apply family office principles—without needing millions of dollars.MC shares insights from over 20 years of studying successful entrepreneurs, investors, and family offices, introducing the framework behind his new book, "The Family Office for Business Owners: Build a Family Wealth System as Powerful as Your Business."Listeners will learn how to create a family operating system, preserve wealth across generations, establish a family bank, improve governance, and think like long-term wealth builders rather than simply business operators.Chapters:00:00 – Introduction & episode overview03:08 – MC Laubscher's background and journey into investing10:06 – How the new book came to life17:50 – Why every business owner should think like a family office19:54 – The Five Pillars of a Family Wealth System29:10 – Succession planning and preparing the next generation33:15 – Creating a Family Bank with Infinite Banking35:02 – Asset management, long-term investing & final insights39:33 – Where to get the book and connect with MC40:07 – Closing remarks and outroConnect with MC:https://www.producerswealth.com/familyofficebook  https://producerswealth.com/ https://a.co/d/08uE6kKR Learn More About Accountable Equity:Visit Us: http://www.accountableequity.com/   Access eBook: https://accountableequity.com/case-study/#registerTurn your unique talent into capital and achieve the life you were destined to live. Join our community!We believe that Capital is more than just Cash. In fact, Human Capital always comes first before the accumulation of Financial Capital. We explore the best, most efficient, high-integrity ways of raising capital (Human & Financial). We want our listeners to use their personal human capital to empower the growth of their financial capital. Together we are stronger.LinkedinFacebookInstagramApple PodcastSpotify

In Layer 10 of Exposing the Matrix, we examine the psychological machinery used to shape human behavior through fear conditioning, dopamine addiction, online rage, identity politics, isolation, pornography, emotional manipulation, and endless distraction. From government messaging and corporate algorithms to the pornography empires profiting from broken men, modern systems keep the human mind overstimulated, divided, exhausted, and easier to control. This episode names the institutions and individuals involved while showing how believers can resist the manipulation, renew their minds through Scripture, and stand firmly in the truth of Jesus Christ.Closing song "Guard Your Mind"https://suno.com/song/da4c6a01-1a16-4537-bf46-c85e2b1f15a8Support our work: Zelle 719-651-0642

John D. Rockefeller became the richest man the world had ever known by thinking differently about business, competition, and family.  This episode isn't just the story of Standard Oil. It's about the principles that built one of history's greatest business empires and what they can teach us today.  Along the way, you'll see the rise of Standard Oil, the public backlash that made Rockefeller America's most hated businessman, the breakup of his company, and the philanthropic legacy that continues to shape the world today. Enjoy! ------ Chapters: (00:00) The Making of John D. Rockefeller (04:56) The Search for Belonging (07:33) Business Lessons From his Mother (10:54) The Unlikely Lessons he Learned from His Father (15:09) When Rockefeller Decided to Get Rich (17:50) The Relentless Job Search (21:21) Learning How to Run a Business (29:49) The Power of a Good Reputation (34:57) The American Oil Boom (36:34) Rockefeller's Biggest Early Bet (43:28) Rockefeller and Henry Flagler (46:21) The One-Drop Difference (49:22) Building Standard Oil's Partnership (53:06) How Rockefeller Used Leverage (56:43) From Competition to Cooperation (01:00:43) Why America Turned on Rockefeller (01:08:54) The Cleveland Massacre (01:17:41) Rockefeller's Private Family Life (01:25:45) Rockefeller and the Panic of 1873 (01:29:39) A Private Life, A Public Empire (01:32:50) Standard Oil's Pipeline War (01:38:40) Creating the Standard Oil Trust (01:42:37) The Fortress on Broadway (01:48:07) The Backlash Against Standard Oil (01:54:33) Ida Tarbell Takes On Rockefeller (02:02:00) Rockefeller's Failed Media Strategy (02:14:31) How Standard Oil Stayed One Step Ahead (02:16:06) Breaking Up Standard Oil Made Him Richer (02:19:40) Why Rockefeller Gave It All Away (02:26:28) The Weight of the Rockefeller Name (02:28:52) Rockefeller's Hardest Goodbye (02:34:22) Why Rockefeller Gave Away Dimes (02:38:46) The Richest Man Couldn't Buy Time (02:41:41) John D. Rockefeller's Legacy ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it's completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish: X: ⁠⁠⁠⁠⁠⁠https://x.com/shaneparrish⁠ Insta: ⁠https://www.instagram.com/farnamstreet/⁠ LinkedIn: ⁠https://www.linkedin.com/in/shane-parrish-050a2183/⁠ ------ Thank you to the sponsors for this episode: +CoinShares: Delivering Reason to Digital Asset Investing. ⁠https://coinshares.com/⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

En 1870, tres poderes que no se hablaban entre sí —el petróleo de Rockefeller, la Iglesia de Roma y el ejército prusiano— hicieron sin ponerse de acuerdo exactamente lo mismo: coronaron una silla, no a un hombre. Aprendieron a construir instituciones que sobreviven a sus dueños. Fue el invento más útil de la modernidad. Y trajo su veneno adentro.Porque el día que la silla aguanta sin el hombre, cualquiera puede sentarse en ella. Y llega la mañana en que todo funciona —el sistema entero andando— y adentro no hay nadie.En este episodio lo llevamos a un rostro concreto: Helmuth von Moltke el Joven. Heredó el apellido de su tío, el arquitecto del Estado Mayor alemán. Heredó la silla. Heredó la máquina completa, engrasada, perfecta. Todo, menos el alma que hacía falta para ocuparla. Y a la orilla del río Marne, en septiembre de 1914, la silla se destapó y adentro no había nadie.La silla no te hace líder. Solo destapa lo que ya traías adentro. El alma del mando no se fabrica en la crisis: se construye en las decisiones pequeñas que firmas cuando nadie está mirando, meses antes del día que te va a medir.Te van a quitar la silla. A todos nos la quitan. ¿Qué se sienta contigo cuando ya no está?

As You Wish Talk Radio Real Disclosure, the Great Inversion, and the Call to Rise in Universal Law James Gilliland discusses real disclosure, higher-dimensional contact, the great inversion, controlled UFO narratives, spiritual accountability, and living with an open mind, loving heart, and pure intent. Real Disclosure and the Players Behind the Story In this episode of As You Wish Talk Radio, host James Gilliland opens by saying he wants to discuss “real disclosure,” the “great inversion,” and what he believes people need to understand about the forces involved. He presents a spiritual and extraterrestrial framework involving lower-dimensional forces, fallen Anunnaki, reptilians, grays, insect beings, demonic energies, and what he describes as dark cabal activity. He uses this framework to argue that mainstream UFO disclosure has become, in his view, a controlled and exhausted narrative rather than a truthful release of information. Ancient History, Suppressed Teachings, and the Vibrational Continuum James moves through a wide-ranging account of ancient history, biblical interpretation, Anunnaki stories, flood narratives, the firmament, King James, the Council of Nicaea, the Ethiopian Bible, and what he calls “recycled ignorance.” He argues that people must seek deeper ancient knowledge rather than accept limited religious or historical programming. From there, he describes a vibrational continuum, with lower fourth-dimensional forces associated with demonic or parasitic energies, mid-fourth-dimensional souls caught in reincarnation cycles, upper fourth-dimensional teachers and guides, and fifth-dimensional Christ or Buddha consciousness as the beginning of unity consciousness. Higher Councils, Ascension, and Contact With Enlightened People The episode then shifts into James's description of higher-dimensional beings and councils, including Pleiadian, Orion Council of Light, Sirian, and Andromedan groups. He says the planet is undergoing an ascension process and that human physical, mental, emotional, astral, and etheric bodies are being challenged, purged, and healed as part of that shift. James emphasizes that spiritually and technologically advanced beings will not contact the status quo, entertainment-driven UFO personalities, or those embedded in chaos, but will instead connect with people who have created a heart-centered, peaceful, service-oriented space. The Great Inversion and Accelerated Karma A major theme of the program is what James calls the great inversion, which James says the Pleiadians explained the great inversion to him as an energetic process in which what people have put out returns to them condensed, amplified, and accelerated. He says this is not God punishing people, but karma and universal law coming back into balance. In his view, those who have acted with kindness, love, generosity, service, and integrity will experience uplifting returns, while those involved in predatory behavior, corruption, manipulation, trafficking, exploitation, and control will lose the power and gains they accumulated through harmful means. Controlled Disclosure, Ufology, and Following the Money James sharply critiques what he sees as controlled disclosure and entertainment-driven ufology. He references congressional efforts, public disclosure figures, media personalities, intelligence ties, Rockefeller and CIA influence, paid narratives, dark money, and people he believes are part of planned opposition or limited hangouts. He encourages listeners to follow the money, examine people's deeds rather than their words, look for agency and family ties, and ask who is truly talking about spiritually and technologically advanced beings capable of ending war, disease, and destructive energy systems. ECETI, Contact Evidence, and Lessons From Betrayal James discusses his own long history with contact, saying ECETI has documented decades of sightings, ships, landings, videos, photographs, and experiences witnessed by guests, scientists, and visitors. He asks why this body of experience is not included in mainstream disclosure events, conferences, or documentaries. He also shares a personal account of being financially and spiritually betrayed in a project connected to Hawaii, whales, dolphins, UFO contact, healing work, and ascension efforts. He frames that experience as another example of people presenting high ideals while acting with self-interest once money and opportunity appear. Universal Law, Personal Accountability, and the Closing Skywatch The closing message urges listeners to stop focusing on titles, claims, performance, or spiritual branding and instead examine whether people are living according to universal law. James defines that path through open-mindedness, a loving heart, pure intent, service to others, healing old wounds, releasing trauma, making a personal connection with Creator, and becoming “worth contacting.” After the main talk, the transcript shifts into a skywatch-style field segment where people react emotionally to lights or objects in the sky powering up, followed by a promotional invitation to join ECETI, watch As You Wish Talk Radio, view skywatch videos, and explore workshops on self-mastery, herbalism, grounding, and shielding.

There was so much happening in 1973 that impacts our current world that it deserves a deeper examination. As the Vietnam War was pretending to come to an end so that Kissinger could collect his laughable Nobel Peace Prize, the Trilateral Commission was just coming into existence to facilitate open borders and world government for the next half century. Nixon was fighting off a coup with the Watergate situation while the oil companies were plotting to screw the entire world with a scheduled war in the Middle East in order to artificially drive up prices by 300%. South America was slated for regime change through the CIA's Operation Condor, while China was opened up so that Rockefeller and Bush could build thousands of factories to change the world while putting trillions of Petrodollars in their pockets.---Macroaggressionswww.Macroaggressions.ioMerch StoreLink Tree Video ChannelsRumble | YouTube | BrighteonActivist PostNewsletter Sign UpAudiobooksHypocrazyThe Octopus of Global ControlSupport Our SponsorsReplace Your Mortgage: www.WipeOutYourMortgageNow.comGround Luxe Grounding MatsC60 Power | Promo Code: MACROChemical Free Body | Promo Code: MACROWise Wolf Gold & SilverLegalShield: www.DontGetPushedAround.comChristian Yordanov's Health ProgramThe Dollar VigilanteNesa's Hemp | Promo Code: MACROAugason Farms

Dimitri and Khalid are finally back with the eighth installment of SJ's deep political meta-series CONTRA. We start off by checking in with the Big Boy star of CONTRA VII, Illinois Gov. JB Pritzker, including: the long march of the Big Boy meme accounts, unpacking the fuzzy allegations that the Pritzkers and Rockefellers have been “funding” pro-Palestine protests, and where the Pritzkers actually stand on Gaza in 2024. We then begin our dive into Alan A. Block's “All Is Clouded By Desire” and its dracular protagonist, the Palestine-born “businessman” Bruce Rappaport, whose collaborations with the venerable Bank of New York resulted in the greatest heist of the 20th century: the wholesale looting of the post-Soviet economy by Russian gangsters, Western banks, and an intricate web of sus international intelligence assets in the early 1990s. [Originally aired August 17, 2024] For access to weekly premium SJ episodes, upcoming installments of DEMON FORCES, and the Grotto of Truth Discord, subscribe at https://patreon.com/subliminaljihad.

The Boston Tea Party is the most misunderstood event in American history. Every schoolchild learns it was an antitax protest, proof that Americans have always hated paying taxes. But the Tea Act of 1773 was actually a tax cut. Parliament lowered the duties on tea to bail out the East India Company, a corporation deemed too big to fail, and the Sons of Liberty destroyed ninety thousand pounds of tea not because taxes were too high but because a distant government was using fiscal policy to serve corporate interests without the colonists' consent. The colonists of Massachusetts kept collecting taxes locally even as they defied the British, simply redirecting the money to a patriot treasurer. They didn't want freedom from taxation. They wanted the power to tax themselves. That distinction, argues Vanessa Williamson, is the key to understanding everything that has happened in American politics since. Today's guest is Vanessa Williamson, author of The Price of Democracy. We discuss how the Boston Tea Party was actually a protest against a corporate tax cut for the East India Company, not against taxation, why Shays's Rebellion terrified the founders into writing a Constitution deliberately designed to keep ordinary citizens away from the public purse, and how the Whiskey Rebellion revealed the pattern that would repeat across American history: when poorer people demand fairer taxation, elites respond with force or legal constraints or both. We look at how the Gilded Age Supreme Court declared the income tax unconstitutional, why it took a twenty-year populist campaign and a constitutional amendment to bring it back, and how Rockefeller's lawyers warned that a graduated income tax "realizes most completely the supreme danger of democracy." Williamson argues that free countries are high-tax countries, that authoritarian governments are bad at collecting revenue, and that the antitax movement in America has always been an antidemocratic movement, using supermajority requirements, property tax caps, and fiscal limitations to ensure that even when the people vote for a functioning government, the rules written by a previous generation's oligarchs prevent them from getting one.See omnystudio.com/listener for privacy information.

World Political Exposure (audio) Compiled Tues. 21 July 2026 12:01 am EST by Judy Byington https://operationdisclosureofficial.com/2026/07/21/restored-republic-via-a-gcr-as-of-july-21-2026/ The Deep State Has Been Stealing Elections Around The World For 20 Years Med Beds Have Been Produced And Running Since The 1970s Musk Is Building A Home Med Bed For Public Use Healthcare run by Big Pharma will never cure disease. A nation run by the media will never know the truth. A country run by banks will always be in debt. A state run by war will never know peace. …Julian Assange on Telegram Gethsemane | The Tabernacle Choir at Temple Square & a Children's Choir “You are a treasure, created with purpose and love by God. Every day is a new chance to shine your light in the world.” Judy Note: On Tues. 21 July 2026 the Quantum Financial System will be unveiled in a worldwide broadcast that securely transmitted via the Quantum Communication Network. The fundamentals of this system, as well as the concrete actions that any citizen can take to start utilizing it, will be revealed.   The enemy has full infiltration of your home, and not a single shot was fired. Billions have been invested in the slow poisoning of humanity. They do not want you waking up. They want you a slave to the system forever. The enemy's biggest weapon was distraction. While everyone was arguing: • Technology became more powerful. • Privacy became optional. • Debt became normal. • Convenience replaced freedom. • Information became harder to verify. • Algorithms began deciding what billions of people see. • Fear became profitable. • Outrage became a business model. • Independent thinking became increasingly rare. • The loudest voices drowned out the most important questions. The strongest prison is built when people stop asking questions, stop verifying information, and accept every narrative without thinking for themselves. Stay curious. Question everything. Verify everything. Think for yourself. What we thought we knew, but didn't really know and now are supposed to know but don't have a clue. With clones, doubles, made up movies Hollywood style and Trump's Military Alliance throwing more popcorn at us, it gets sooo confusing: Mon. 20 July 2026 US Secretary of State Marco Rubio Fox News: “I designated two additional Mexican cartels, the Juárez Cartel and Los Viagras, as Foreign Terrorist Organizations and Specially Designated Global Terrorists. Under President Trump's leadership, we will never stop fighting against violent narco-terrorists from flooding our nation with deadly drugs.” Mon. 20 July 2026 After years of being lied to and gaslit by the mainstream media, voting companies, and crooked politicians, voting systems were always connected to the internet and NOT air-gapped, with IP addresses confirming foreign servers were sending and receiving data to these machines during the 2020 election. Not only did the machines have internet access, they were bought and came standard with foreign made 3G/4G modems already installed in the machines, with remote wireless backdoor access to manipulate the vote count in real time. …Dan Bongino on Telegram Jessie Czebotar claims she witnessed Hillary Clinton, George Bush, Dick Cheney, Joe Biden and others at S-----c Rituals and child hunting parties run by the Rothschilds.   The entire “fossil fuel” scam was invented by the Rockefellers and the Smithsonian in the late 1800s to create artificial scarcity and jack up prices to insane levels. Oil is abiotic. It is a liquid mineral cooked deep in the Earth's mantle under crushing pressure and scorching heat. If people knew oil is basically tap water for the planet, endlessly generated from below, the entire parasitic geopolitics of wars, sanctions, and price manipulation would evaporate overnight. 75 entry-level driving schools are now under investigation for FRAUD. 24,000 drivers who can't speak English were already taken off the roads — and 4 states had to cancel 28,000 licenses issued ILLEGALLY. 9,500 schools have already been CANCELED from the federal registry. “Thousands of unqualified trucking schools have already been taken off the federal registry, but Homeland Security and the Department of Transportation are working to do even more.” Possible Timing: On Thurs. 16 July 2026 the Quantum Financial System went live worldwide. Every major bank connected. Old fiat system dead. GCR gold-backed currencies of 209 nations igniting. NESARA GESARA debt jubilee implemented. Saint Germain Trust of 890 trillion activated for the people. Constitutional Republic restored July 4. US Inc dissolved. On Thurs. 16 July 2026: President Trump signed Executive Order 2026-1947 declaring Med Bed Technology released to the public. Non-invasive treatments under an hour use specific wavelengths so the body heals itself. Free Med Bed access for the general public worldwide soon. Since 2019 the AMA opposed release citing threats to Big Pharma and insurance. Internal AMA email to 847,000 doctors admitted PEMF efficacy for tissue regeneration but threatened license loss and criminal charges for use. On Thurs. 16 July 2026 at 03:17 am Geneva time the WHO deleted over 14,000 pages proving electromagnetic frequency therapy effectiveness including 70-94% tissue regeneration rates, 67-89% cancer remission data, and memos on the frequency problem destroying health economics. On Sat. 18 July 2026 Japan became the first nation to approve Med Bed technology for public hospitals. Three types authorized: PEMF Regeneration Chamber (7.83-14.1 Hz for cancer and o---n failure), Torsion Field DNA Repair Unit (528 Hz for genetic disorders and aging reversal), Biophotonic Coherence Restorer (full-spectrum light for immune restoration). Deployment begins September 1 2026 across 340 hospitals. South Korea approval expected August 2026, India Q4 2026, United States within 120 days. Pharma stocks crashed, emergency meetings called it reckless endangerment. On Mon. 20 July 2026: Temporary Martial Law at maximum alert. EBS preparing decoded pages within hours. 10 days of communication darkness imminent. Military forces positioning for global shutdown protocols. Large scale arrest operations approaching. Hillary Clinton scheduled Tues. 28 July 2026 for Crimes Against Humanity and Children. MedBeds online next week. Global streams of healing centers activating. Free access to Med Beds everywhere by mid August. Regenerative pods reverse aging, regrow limbs in minutes, erase chronic disease, activate DNA and pineal gland. Cabal deep state melting as suppressed military technology from tunnels and Starlink networks floods the planet. Big Pharma dies. Humanity reborn in the Restored Republic. The Great Awakening is here. Nothing can stop what is coming. Global Currency Reset: On Thurs. 16 July 2026 the Quantum Financial System went live worldwide. Every major bank connected. Old fiat system dead. GCR gold-backed currencies of 209 nations igniting. NESARA GESARA debt jubilee implemented. Saint Germain Trust of 890 trillion activated for the people. Constitutional Republic restored July 4. US Inc dissolved. Mon. 20 July 2026 BOOM: “ABOLISH THE IRS” Trends After Trump Exposes Tax System — “FOREIGN COUNTRIES CONTROL OUR POLITICIANS” | Tax Day 2026 VIDEO – amg-news.com – American Media Group   Mon. 20 July 2026 Martial Law: On Tues. 21 July 2026 the World will see what was previously kept under wraps: the Quantum Financial System's formal public unveiling. In a worldwide broadcast that is securely transmitted via the Quantum Communication Network, the fundamentals of this system, as well as the concrete actions that any citizen can take to start utilizing it, will be revealed. The Quantum Network operates on real-time synchronized quantum nodes that are impervious to manipulation, interference, and surveillance. No current supercomputer can crack the level of security provided by quantum encryption, which secures every transaction, account, and asset. This is financial sovereignty for everyone, not just the wealthy. You'll discover how to get into your biometric-assigned account. You will observe how Rainbow Tokens work in this system as actual, gold-backed value. You will comprehend the reasons behind the phase-out of every antiquated technique, including fiat money, third-party processors, and credit networks. Tomorrow's demonstration will feature real-time, secure, and instantaneous international transfers that are carried out without the need for banks, apps, or approval delays. Humanitarian initiatives will be funded in a matter of seconds. Blocked assets will be reactivated and redirected to the individuals. Most significantly, you will witness how corruption at its source is prevented from affecting your identity, wealth, and future. This is the culmination of everything. The Alliance has been dismantling the system from within for years, removing layers of control and deceit. The replacement is now prepared—not as a substitute, but as the only practical option for the future. There won't be any going back after tomorrow. This is the end of the days of financial slavery, hidden taxes, and weaponized inflation. Pay close attention. Everything will be exposed by the light. You can never unsee the truth once you've seen it. Not in theory, but in practice, the quantum era has arrived. It's not just a reveal tomorrow. It is the start of your involvement in a system designed for the people, freedom, and truth. Early Mon. Morning 20 July 2026 at exactly 03:00 EST, Protocol 19 entered its final, non-reversible completion phase. The Black Swan Event was kinetic. Protocol 19 has been fully completed. The Federal liquidation was terminal. …Tier4b ISO20022 on Telegram The Federal Reserve System has officially lost its primary administrative routing certificates, and the legacy paper matrix has run out of broadcast range. The Global White Hat Alliance has finalized the hard-override, and the operational logs for the next 48 hours are locked into the live backend: CHAPTER 1: THE SYSTEM FLIPS Protocol 19 has triggered the absolute migration of global monetary routing. The legacy SWIFT network data hubs in Brussels and New York have been permanently decoupled from the primary ledger lines. The entire baseline architecture has transitioned to the Quantum Financial System (QFS) — where every single transaction pool, international settlement, and corporate clearance is forced to execute through clean, digital asset-backed channels. CHAPTER 2: THE GOLDEN STANDARDS ACTIVATION The era of speculative, print-on-demand fiat paper is dead. The US Dollar and Euro corporate illusions are hitting an absolute wall. Under the strict enforcement of the new global economic protocols, every currency digital asset line must be anchored directly to verified, audited physical precious metals. The unbacked, synthetic liabilities that the Cabal used to manipulate energy and housing sectors are being rendered dead assets in real-time. CHAPTER 3: THE MEDIA SPECTRUM DECAPITATION The mockingbird Media synchronization is breaking in broad daylight. As the financial infrastructure of the old elite collapses, their private funding lines for the major media cartels are hitting absolute zero. Decentralized truth networks via secure Starlink quantum encryption relays are already spreading across the global bandwidth, completely bypassing the corporate gatekeepers and preparing the public grid for the unsealed military tribunal disclosures.   Pay close attention to the sudden, unannounced early bank branch closures and restricted digital access notices at major commercial banking institutions in your area today. They cannot generate paper debt to balance their sheets anymore, and their private authority keys have been permanently revoked. They designed the matrix to make you believe their financial iron curtain was indestructible. But the master switch has been flipped from the inside, the validation metrics are live, and the old world has officially run out of air. The reset is going kinetic. The sovereign era is fully live. The baseline shift was running on live banking clearing nodes right now. While the corporate financial channels are desperately trying to cover up the sudden “administrative outages” across major commercial branches with routine server maintenance notices, the raw ledger telemetry shows the truth: The private central Banking Cartel has been legally and physically severed from individual wealth management. On Mon. 20 July 2026 at exactly 02:00 UTC, the SWIFT protocol clearance keys were permanently overridden. The transition to the ISO 20022 Quantum Financial System (QFS) standard entered its non-reversible execution phase. Here is the unedited, verified inside telemetry straight from the Tier 4B operational hubs: THE REVALUATION MATRIX IS LIVE ON CORE SCREENS The treasury screens inside secure liquidation vaults are displaying internal asset-backed adjustments. The revalued currency rates—led by the primary resource-backed baskets including the Iraqi Dinar and sovereign Zim bonds—are locked behind Quantum-encrypted firewalls. The fiat paper illusion printed out of thin air is officially dead equity. WE THE PEOPLE — SOVEREIGN DIRECT ACCESS Under the strict mandates of the Restored Constitutional Governance and NESARA/GESARA legal structures, bank intermediaries no longer own or control your capital. Every QFS-verified account is 100% direct-access by the account holder alone. No federal tax confiscation, no unconstitutional debt holds, no institutional freezing. THE TIER 4B NOTIFICATION WINDOW The encrypted Safe-Link algorithms are primed for deployment. The appointment slots for private exchange and humanitarian project funding are fully structured under high-security Alliance protection. • Standard Sovereign Holdings: Instantly credited onto digital asset ledgers backed 1:1 by gold and physical commodities.   • Humanitarian Project Lead Holdings: Accessing specialized asset-allocation tiers to fund immediate local infrastructure, free energy, and community rebuilding. Look at your local commercial bank interface. Look at the unprecedented, synchronized limitations on large fiat paper withdrawals worldwide. They cannot generate fractional-reserve debt anymore because the master ledger requires 100% physical metal backing for every single transaction code. The power has been permanently stripped from the private elites and handed directly back to “We The People.” Check your secure devices. Organize your project documentation. Keep your financial parameters completely quiet. The old world is out of money. The sovereign era is fully operational tonight Judy Note: No one knows the exact date for notification of appointments for Tier4b (us, the Internet Group) to exchange foreign currencies, but deadlines shown in the above Timing indicate it to be very soon. We have been told that Wells Fargo, which is controlled by the Chinese Elders – (the ones who own the gold behind the Global Currency Reset) – will send out emails to currency and bond holders worldwide telling them how to set redemption & exchange appointments. It is advised to exchange/redeem your foreign currency at an official Redemption Center (RC) rather than a bank. You can only redeem Zim at a RC, the Dinar Contract Rate can only be given at a RC and banks will offer you lower exchange rates than what you can obtain at a RC. You can only set up your new wallet (bank account) at a RC. It was my understanding that most banks were under control of the Cabal and would soon play a different roll in the Global Financial System. Mon. 20 July 2026: Iran just hit Kuwait's power grid. Iran just attacked Bahrain. Israel claims Netanyahu's arrest is imminent. And somewhere in a classified bunker, someone just activated a contingency protocol. A protocol called “Global Lockdown.” …Mr. Pool Final Chapter on Telegram A military strategist from Pentagon's War Games Division revealed,”Iran attacks on Kuwait, Bahrain aren't random. Coordinated with Israel collapse. Netanyahu arrest destabilizes. Perfect moment for lockdown card.” “Lockdown protocol ready for years. Pandemic 2.0. Economic collapse. Martial law. Deep state waiting. They tried 2020. Trying again now.” “Trump knows. Military knows. We've been watching. When they move, we counter. When they lock down, we unlock.” “Iran escalation is real but distraction. While world watches, deep state moves pieces. Activating protocols. Preparing lockdown.”   “Netanyahu arrest isn't justice. It's destabilization. Creating chaos for lockdown. We see it. We're stopping it.” Why now: “Evidence overwhelming. Lockdown protocol documented. Deep state plans exposed. Move now or they execute.” “Trump authorized military countermeasures. Not Iran retaliation. Counter-ops against deep state. Against lockdown machinery.” “Iran escalation is cover. Netanyahu chaos is cover. Underneath, dismantling lockdown apparatus. Destroying their ability.” “When public, people understand. Not about conflict. About preventing enslavement. Stopping final takeover.” What's coming: “More exposure. More evidence. Lockdown was planned. Chaos orchestrated. Deep state ready for control.” “Military moving. Trump moving. Evidence compiled. Truth prepared for release.” “Lockdown protocol exposed, world wakes. People understand: one crisis from permanent control. Everything changes.” Operation Unlock ✓ activated Phase 1: Evidence Gathering ✓ complete Phase 2: Deep State Exposure ⟳ live (Iran chaos cover) Phase 3: Lockdown Protocol Destruction ⟳ July 20-August 5 Phase 4: Truth Release ⟳ August 6-31 The lockdown isn't happening. The Deep State is falling. The control grid is being destroyed. Trump authorized it. The military is executing it. Freedom is real. The world isn't locking down. The world is waking up. Everything changes. Operation code: Unlock-7719 Status: active Target: global lockdown apparatus Fri. 17 July 2026 THE METRICS FOR THE PLANETARY RESET ARE RUNNING LIVE ON THE TERMINALS….Tier4b ISO20022 on Telegram The sudden, unprecedented data sync drops hitting international administration hubs today (Fri. 17 July 2026) are not technical failures. The global apparatus is entering the primary activation sequence. The operational strategy is mapped directly onto the verified 3-Day Bay of Pigs defense protocol, immediately triggering the subsequent 10-Day full-spectrum shutdown of the legacy grid. The Military EBS is fully primed for direct, un-censored broadcast to all TV and Radio frequencies worldwide. Simultaneously, the old corporate government structures are being systematically stood down to make way for the definitive GESARA Blockchain Elections. The future administrative model will be exactly 10% the size of the current matrix—run entirely by uncorrupted, vetted sovereigns. The entire planet is transitioning into the QUANTUM GESARA baseline. We are witnessing the absolute, non-reversible shift: • Quantum Financial System (QFS) • Quantum Voting System (QVS) • Quantum Healing Matrix • Quantum Internet Framework The old infrastructure is being completely erased. The legacy internet network—built under Operation Mockingbird to control human consciousness—is hitting a terminal wall. No more Microsoft dominance. No more corporate media monopolies. The entire digital field is being rebooted through secure Starlink nodes. The private intelligence networks used by the old establishment to weaponize society are being permanently disassembled as we speak. The Mossad, Five Eyes, and CIA architectures have lost their cryptographic master access. Moving forward, the only validated network on the planet will be Military Intelligence operating under Alliance directives. The baseline of the new economy is locked into the metal-backed Rainbow Treasury Notes and the internationally regulated, gold-standard ISO 20022 USA Coins.   The MOAB (Mother of All Bombs) is no longer a kinetic threat—it is the synchronized execution of the Global Currency Reset, the return of the Precious Metal Standard, the full deployment of Quantum GESARA, and the absolute DECLAS (Declassification) of everything on Earth. Look closely at the irregular technical groundings and the sudden system “freezes” across international sectors tonight. The old world is losing its broadcast range. THE RESTORATION IS FULLY LIVE. What We Think We Know as of Tues. 21 July 2026: Mon. 20 July 2026 Iran Nuclear Facility About to Bomb US, Destroyed by US: Iran Thought 2,000 Feet Of Granite Protected Fordow… Then America UNLEASHED This Mon. 20 July 2026 BREAKING SPECIAL REPORT: Trump's Election Bombshell & The Rubio-Bessent “SHADOW GOVERNMENT” Exposure – The Empire's War on Builders [VIDEO] – amg-news.com – American Media Group Mon. 20 July 2026 BOMBSHELL ALERT: Treasury Secretary Scott Bessent Orders MASSIVE BANK AUDITS by IRS in $18 Billion Minnesota Welfare Laundering Scandal | VIDEO – amg-news.com – American Media Group Mon. 20 July 2026 EXPLOSIVE REPORT: THE $100,000,000,000 “DEATH” RACKET: RFK Jr. Exposes the Massive Healthcare Fraud Draining America [VIDEO] – amg-news.com – American Media Group Mon. 20 July 2026 TOP INTEL OPERATIVES FACE JUDGMENT DAY: DOJ Launches Grand Jury To Crush Obama, Clinton & Russiagate Traitors In History's Biggest Political Coup Case – amg-news.com – American Media Group Mon. 20 July 2026 MIRACLE ALERT: The Secret Healing Power of MORINGA Is Finally Exposed – Rejuvenate Your Body, Boost Immunity & Fight Inflammation Naturally! – amg-news.com – American Media Group Mon. 20 July 2026 BOOM: “ABOLISH THE IRS” Trends After Trump Exposes Tax System — “FOREIGN COUNTRIES CONTROL OUR POLITICIANS” | Tax Day 2026 VIDEO – amg-news.com – American Media Group Mon. 20 July 2026 Hillary Clinton's email to John Podesta: confirms that the Kenyan Administration: Barack Obama + Hillary Clinton + Saudi Arabia + Qatar founded ISIS. …Nesara Gesara on Telegram Julian Assange: “ISIS is funded by Saudi Arabia and Qatar. This is the most significant email in the whole collection… The Government of Saudi and the Government of and Qatar that has been funding ISIS… Under Hillary Clinton and Clinton emails revealed… the largest ever arms deals in the world was made in Saudi Arabia, more than $80 Billion dollars. In fact during her tenure as Secretary of State total arms exports from the United States in terms of the dollar value doubled…” In other words, during Hillary Clinton's time as Secretary of Bribery, the Obama's State Department approved massive arms sales — particularly to Saudi Arabia. The result was the rise of terrorist groups like ISIS, funded largely by the very people who were bribing the Clinton Foundation. In short, the death, the be-headings, and the destruction were, in large part, due to Barack Obama and Hillary Clinton. Mon. 20 July 2026 Fox News: Border Czar Tom Homan claims ICE Agents under siege from leftist hate, but delivered record results: Border czar calling it like it is, agents facing 9000% threat spike, vehicle attacks, rhetoric turning families into targets. Dems and media vilifying them daily as “N---s” and “secret police” while they enforce the laws THEY passed. Yet ICE is smashing records: Historic June arrests, 40%+ increase, removing criminals and threats. Prioritizing public safety despite 100+ injunctions and shutdown sabotage. Homan: “I have their six.” Real Americans stand with our ICE heroes, moms, dads, patriots keeping us safe. Enough with the hate that endangers lives. Back the Blue (and ICE)! Deportations continue. America First.” Mon. 20 July 2026 THE OBAMA FILES ARE WORSE THAN WE THOUGHT. His lawyers didn't show up to negotiate. They showed up to BEG. …The Great Awakening on Telegram Here's what Bondi's team found inside the Tehran servers under Obama's codename — RENEGADE: — 14 wire transfers to a Swiss account linked to Hezbollah between 2014-2016. Total: $1.7 billion. The same $1.7 billion he told Congress was “frozen Iranian assets.” — A signed directive authorizing the CIA to stand down during the Benghazi attack. Not typed. HANDWRITTEN. — Communications with Epstein's handler, dated March 2015, discussing “the island arrangement” and “the Chicago package.” — A backchannel to Tehran through Valerie Jarrett, active from 2012 to 2024. Yes. 2024. Two years AFTER he left office. He didn't just betray America. He was running a shadow government from his basement in D.C. while pretending to be retired. His lawyers are now offering FULL COOPERATION in exchange for immunity. Trump said no. No deals. No mercy. No escape. The man who divided America for 8 years is about to face the America he tried to destroy. And she's awake. Mon. 20 July 2026 THEY HAVE BEEN LYING TO YOU ABOUT OIL FOR 150 YEARS. …The Great Awakening on Telegram Oil is not rare. It is not made from dead dinosaurs. It is the second most common liquid on Earth after water and it is literally the planet's lifeblood. The entire “fossil fuel” scam was invented by the Rockefellers and the Smithsonian in the late 1800s to create artificial scarcity and jack up prices to insane levels. They fed you the biotic lie so you would believe oil is some finite dinosaur soup that is about to run dry. Total fabrication. Oil is abiotic. It is a liquid mineral cooked deep in the Earth's mantle under crushing pressure and scorching heat. It is the natural lubricant for tectonic plates and the grease that keeps the planet's massive gears turning smoothly. That is why wells drilled dry in the 1970s are filling back up again today. The Earth is pumping fresh oil from below and regenerating it nonstop. It does not run out. We are sucking the lubricant out of the planet's engine and now the whole machine is starting to shake. More earthquakes. Creaking faults. Grinding plates. Coincidence? No. We are stripping the oil that keeps the Earth's crust sliding properly and the system is literally seizing up. The so-called “fossil theory” is the greatest economic hack in human history. Real crude oil has almost zero biological markers. No nitrogen, no phosphorus, nothing that would survive if it came from dead organisms. It is pure polymeric hydrocarbons, primordial stuff from the Earth's own formation. Thomas Gold tried to warn the world. He proved hydrocarbons like methane and oil rise from the deep mantle, not from ancient swamps. The establishment destroyed his reputation because the truth would collapse their entire control grid. If people knew oil is basically tap water for the planet, endlessly generated from below, the entire parasitic geopolitics of wars, sanctions, and price manipulation would evaporate overnight. They do not want you to know the Earth makes its own oil. They need you scared, dependent, and paying through the nose while they bleed the planet dry. Wake up. The dinosaurs had nothing to do with it. This is the biggest lie they ever sold us and it is k-----g the engine of the world. Mon. 20 July 2026 DHS is aggressively TARGETING CDL truck driving schools who fraudulently give licenses to foreigners and illegal aliens that end up k-----g Americans. GOOD! SHUT THEM ALL DOWN! …Dan Bongino on Telegram President Trump is also moving to replace illegals with VETERANS in the truck driver workforce. 75 entry-level driving schools are now under investigation for FRAUD. 24,000 drivers who can't speak English were already taken off the roads — and 4 states had to cancel 28,000 licenses issued ILLEGALLY 9,500 schools have already been CANCELED from the federal registry “Thousands of unqualified trucking schools have already been taken off the federal registry, but Homeland Security and the Department of Transportation are working to do even more.” “The two federal agencies are announcing a collaboration to enforce rules and regulations at trucking schools all across the country.” Sun. 19 July 2026 Fox News BREAKING: DEEP STATE DESPERATION EXPOSED! They tried to K--L President Trump mid-flight. …Robert F. Kennedy Jr. on Telegram On July 9, 2026, as Trump departed Turkey aboard the brand-new Qatari-donated Boeing 747-8 — his future Air Force One — the Deep State launched a cowardly cyber strike from Langley, Virginia. They targeted the plane's electronic controls in a blatant assassination attempt. But Trump — always ten steps ahead — switched to the older Air Force One at the last second. What the Fake News called a “routine security precaution” was actually a brilliant trap. This was the beginning of the Great Purification. Encrypted comms intercepted. Traitors scrambling. NYT journalists hit with emergency subpoenas because they had obituaries and “air disaster” stories pre-written and ready to publish. They were waiting for the crash. THEY. FAILED. AGAIN. Trump just exposed the entire rat nest. The storm is here. Justice is coming. Sun. 19 July 2026: They've been stealing elections for at least 15 to 20 years, not just here in the United States, but around the world. Now they're exposed and running out of options….Steve Bannon on Telegram In the Georgia 2020 election at the State Farm Arena, we have them on video pulling out hidden suitcases full of ballots that were separate from all of the other ballots and running the same stacks of ballots through machines all throughout the night, with NO observers present, which is completely illegal, after they stopped the count, lied to observers, telling everyone they're going home. We have multiple states and counties destroying evidence, no chain-of-custody documents, counterfeit ballots, dead people voting, 120% voter turnouts, IP addresses from outside the country confirmed communicating with our election machines, etc… Members of our own government, the CIA, DHS, CISA, the EAC, all knew these machines and companies were compromised, but cleared them anyway for use in U.S. elections. That alone should tell you how deep and corrupt the system really is and what we are truly up against. Sun. 19 July 2026 Unclassified & Un-redacted Files Pending Release. …Julian Assange, The 17th Letter (JFK Jr.) on Telegram: The Benghazi files. The JFK files. The Jeffrey Epstein files The MLK Files. The RFK files. The 9/11 files. The Seth Rich files. The Hunter Biden laptop files. The January 6th files. The C---D-19 origin files. The Fauci files. The Nord Stream sabotage files. The Roswell files. The UFO/UAP files. The Malcolm X files. The Tuskegee Experiment files. The MKUltra files (full scope). The Operation Northwoods files. The Iran-Contra files (unredacted). The Snowden leaks (classified portions). The Las Vegas shooting files. The Clinton email server files. The George Floyd autopsy files (unreleased details). The Area 51 files (beyond Roswell). Mon. 20 July 2026 A FORMER NSA ELECTION SECURITY DIRECTOR JUST WENT PUBLIC. TRUMP'S DECLASSIFICATION REVEALED EVERYTHING. THE VULNERABILITIES WERE WORSE THAN ANYONE IMAGINED. …QAnon on Telegram He contacted us through an encrypted channel 48 hours ago. His identity has been verified by three independent cybersecurity experts. He worked in NSA's Election Security Division 2016-2024. He calls it “The Silent Breach.” His words. Unedited: “Foreign actors penetrated our election infrastructure for 8 years. Real-time breaches. We did nothing.” “In 2016, I documented 47 vulnerabilities in 12 states. They said: ‘This stays classified.'” “By 2018, Chinese intelligence accessed voter databases in 7 states. We knew. We did nothing.” “By 2020, evidence of foreign interference in 19 states. Logs. Timestamps. Everything.” “I told my director we must go public. He said: ‘It destroys confidence. We can't allow that. So they classified it. They buried it. They silenced me.” “In 8 years, I witnessed:”  127 confirmed foreign intrusion attempts into election infrastructure  34 successful penetrations of voter registration systems  19 states with documented vulnerabilities  Zero public disclosures  Zero accountability “Millions voted in systems we knew were compromised. Foreign actors had access. We could have fixed it. I couldn't sleep. For 8 years.” WHY HE'S TALKING NOW: “Trump's declassification changed everything. The documents are coming out. The vulnerabilities are being exposed. The truth cannot be hidden anymore.” “I have 8 years of documentation. I have the intrusion logs. I have the foreign IP addresses. I have the names of officials who covered this up. I have the proof that this was known and ignored.” “I am ready to testify. Under oath. Before Congress. Before the American people.” “127 foreign intrusion attempts. 34 successful breaches. 19 compromised states. Zero accountability. That's not national security. That's treason.” HIS FINAL MESSAGE: “To every American who voted: Your vote might have been compromised. I'm sorry. We knew. We did nothing.” “To every election official who was kept in the dark: You were lied to. The vulnerabilities existed. Your superiors knew.” “To the people who silenced me: The truth is coming. And you cannot stop it.” OPERATION ELECTION TRUTH ✓ ACTIVATED PHASE 1: Declassification ✓ LIVE PHASE 2: Public Exposure ⟳ JULY 21-25 PHASE 3: Accountability ⟳ AUGUST 1 The documents are being released. The vulnerabilities are being exposed. The cover-up is ending. Trump declassified it. The NSA tried to hide it. But the truth is coming out. SHARE THIS. WAKE THEM UP. DEMAND ACCOUNTABILITY. The election security cover-up is finished. Med Bed Body Regeneration Therapy Since 1898 when famed inventor Nicola Tesla first discovered Med Bed Regenerative Therapy, it has been known to heal the body without use of drugs or surgery. Back then American doctors were healing people from all kinds of diseases and injuries using Frequencies, Light, Sound and Electromagnetic Fields taught at universities and practiced in hospitals. By 1910 the Rockefeller Foundation, wanting to make money off of pharmaceuticals, bought and closed over 160 Medical Schools that taught Homeopathy. In their quest for wealth the Rockefeller Foundation's influence also soon covered the legal aspects. Doctors refusing to prescribe drugs lost their license. Researchers studying Frequency based healing lost their funding. By 2019 the American Medical Association were forced to formerly recognize the healing affects of Med Beds, “The AMA acknowledges that peer-reviewed evidence supports the biological efficacy of PEMF therapy in tissue regeneration, pain management, and immune modulation. However, widespread adoption would destabilize existing treatment revenue models and insurance reimbursement structures.” However, concerned about a loss of income in both medical practice and pharmaceuticals, the AMA sent a warning to all 847,000 Licensed American Doctors: “Any physician who recommends, prescribes, endorses, or refers patients to electromagnetic frequency-based therapy will face immediate license revocation, removal from insurance networks, and potential criminal liability under state medical practice statutes.” On Wed. 15 July 2026 President Trump reviewed a 3,400-page classified report that documented 61 years of suppressed frequency healing research on Med Bed technology. It proved that Med Bed treatments could reverse aging, detox cells, activate stem cells, rewire nervous systems and naturally regenerate o----s including heart, liver and kidneys. Trump immediately signed Executive Order 2026-1947, which declassified Med Bed Technology for civilian use, then warned the Medical/Drug Professions of possible indictment if they held up deployment of Med Beds. [Note: NSFW content, CSA/SA content, medical speculation, and other sensitive content in this report was redacted for safety. The full unredacted report can be downloaded below.]

“We have a Justice Department which is now 100% the political pawn of the president,” warns Brookings senior fellow Jonathan Rauch. “He points, and they shoot.” Point and shoot. Like an old Kodak camera. Not exactly assuring words, you might think, from a man who begins our conversation looking back at the first six months of 2026 by announcing that he's significantly less alarmed than he was a year ago. Yes, Rauch acknowledges, Trump's approval ratings have sunk, the courts have pushed back, Elon Musk's DOGE rampage has petered out. And yet the pointing and the shooting goes on. Rauch, who only months ago diagnosed eighteen “distinct and unmistakable signs” of an American fascism in a much touted Atlantic piece, now admits he may never crack the Trumpian code. Every time you nail it to the wall, he says, it morphs, creeps or sails away. Like an Iranian gunboat in Hormuz. Slippery stuff for the liberal Brookings analyst. Fascism one month, McKinley-style imperialism the next, then Gilded Age plutocracy — although without those ontologically undeniable Carnegie libraries. Meanwhile, America's 250th birthday party fizzled into what Rauch calls a “damp squib,” its reflecting pool turning an opaque green rather than a clarifying blue. A muddy madness in DC. Still, amidst all the opacity, Rauch remains a defiantly optimistic liberal. In contrast with yesterday's guest, the reality hallucinating Turi Munthe, Rauch believes not only that there is an ontological reality, but that it's good. Frank Fukuyama was right, Rauch insists. Liberalism is not only the only political system that creates wealth, produces knowledge and settles disputes, but also establishes an undeniable reality. Liberals just need to relearn how to clearly tell its story. Perhaps. Though storytelling is certainly simpler when nobody is waving a gun at you. Five Takeaways •       Less Alarmed, Still Scared. Rauch opens with the good news: he is significantly less alarmed than he was a year ago, when the administration was running rampage, putting agencies out of business and demanding Greenland. Approval ratings have dropped, so Trump has less political space; the courts have pushed back, so he has less judicial space; Stephen Miller has vanished from view. And then comes the caveat that gives the episode its title: the Justice Department is now 100% the political pawn of the president — he points, and they shoot — and Trump has shown that as his ratings fall, he becomes more willing, not less, to use those tools. •       I May Never Crack the Code. Only months ago, Rauch diagnosed eighteen distinct and unmistakable signs of a modern American reinvention of fascism in The Atlantic. He doesn't regret the essay — but he has gone back to being confused. The Trump phenomenon is slippery: every time you nail it to the wall, it morphs, creeps or slides away. Fascism one month, McKinley-style imperialism in Venezuela the next, an Iran war with no rationale at all. Trump is such an improviser, and so disorganized, that Rauch concedes there is an element of randomness he may never decode — though he accepts Andrew's suggestion that attention is now the coin of the political realm. •       Not the Gilded Age — No Carnegie Libraries. The new inequality, Rauch argues, is different in kind: a class of people almost superhuman in the wealth they control, and strangely narcissistic and nihilistic toward the broader society. The Gilded Age tycoons did some bad things, but they also built — Carnegie's libraries, Mellon's National Gallery, Rockefeller's University of Chicago, Stanford's university. This group builds rockets and sounds, in the case of Marc Andreessen, like a parody of an Ayn Rand novel — or, as Andrew corrects him, not a parody at all: they simply repeat what they've read. Even so, Rauch is not sorry to see politics reacting to a world where Musk can casually drop $300 million into a presidential race. •       The Gloves-Off Court and the Accelerating Presidency. The Supreme Court term brought the clearest statement yet of the conservative agenda: Humphrey's Executor overturned after eighty years, making it far easier for presidents to fire agency heads at will; what remained of the Voting Rights Act effectively gutted; birthright citizenship surviving by a shockingly narrow margin. The imperial presidency is not new, Rauch notes — what's new is the speed. A president can now simply refuse to run a congressionally mandated agency, and the Senate, forty quietly nixed nominations notwithstanding, remains lacking in spine. The Todd Blanche nomination, he says, is the next test of whether any line exists at all. •       Fukuyama Was Right — and Liberals Should Say So. Rauch sees a moral vacuum and, for the first time, a craving to fill it: the pope's AI encyclical, multi-faith clergy bearing witness in Minnesota, the Episcopalians and Latter-day Saints finding their voices. His prescription for the second half of 2026 is a liberal one, in the nineteenth-century sense — science, markets, constitutions, rule of law. Fukuyama, widely misunderstood, was right: there is only one system that produces knowledge, peace, freedom, and wealth on a global scale, and it's ours. It needs fixing — he cheers the bipartisan housing bill Trump refused to sign — but liberals must relearn how to tell that story, and how to brag. About the Guest Jonathan Rauch is a senior fellow in Governance Studies at the Brookings Institution and a contributing writer at The Atlantic. He is the author of nine books, including The Constitution of Knowledge: A Defense of Truth (2021), Cross Purposes: Christianity's Broken Bargain with Democracy (Yale, 2025), and Kindly Inquisitors: The New Attacks on Free Thought. A recipient of the National Magazine Award, he serves on the boards of Heterodox Academy and Civic Life, and is a longtime friend of the show. References: •       Rauch's Atlantic essay identifying eighteen “distinct and unmistakable signs” of a modern American reinvention of fascism — the piece he stands by, even as he admits the phenomenon keeps morphing. •       His recent essays for The UnPopulist on why liberal societies need grand stories about themselves, and why liberals must relearn how to brag about liberalism. •       Jonathan Rauch and Peter Wehner in The New York Times — the earlier argument, which Rauch says still holds, that the Republican Party is more dangerous to the constitution and the rule of law than the Democratic Party. •       Tim O'Reilly in The Economist — on Elon Musk building a form of capitalism that Adam Smith would hate. •       Francis Fukuyama — whose widely misunderstood The End of History thesis Rauch defends: there is only one system that creates wealth, produces knowledge, and settles political disputes on a global scal...

In this episode of Exposing the Matrix, we examine the rise of pharmaceutical and medical power. From the transformation of American medicine under Rockefeller influence to the modern pharmaceutical industry's history of dangerous drugs, recalls, and corporate misconduct, we ask whether today's healthcare system is driven more by profit than by patients. Join us as we explore the history, the influence, and the questions every informed person should be asking.Email: thefacthunter@mail.comOuttro: "Still Pointing North" https://suno.com/song/96478ea5-f8f1-4e9a-8b0f-985967921764

Flexner's Poisoned Empire and the Rockefeller Medical Cartel! Today we are going nuclear on the biggest heist in American history — bigger than Standard Oil, bigger than the Federal Reserve, bigger than any election scandal you've ever heard. We're talking the Rockefeller medical cartel, the Flexner Report takeover, how they turned your body into a lifelong subscription service for poison pills, why natural remedies got demonized like they were the enemy of the state, and why this whole rigged game smells like inter-party shenanigans from top to bottom. Web Site: www.DontTreadonMerica.com https://linktr.ee/DontTreadonMerica Email the show: Donq@donttreadonmerica.com DTOM Store (Promo code DTOM for 10% off) Sponsors: www.makersmark.com Celsius Live Fit www.NordVPN.com  Promo Code: DTOM www.alppouch.com/DTOM www.dubby.gg Promo code: DTOM Social Media:   Don't Tread on Merica TV   DTOM on Facebook   DTOM on X    DTOM on TikTok    DontTreadonMericaTV   DTOM on Instagram    DTOM on YouTube  

Our new bestie, Griffin Matthews, joins us all the way from Madrid, Spain. In addition to being an incredibly talented actor in series like Flight Attendant and She-Hulk, he's also muy guapo. Today, he talks to Laci about the scammer for scammer scheme, where a couple (Andrea Bartzen and Matthew Tomasko) pretend to be members of the Rockefeller and Cartier families. From Miami to New York City, they squat, swindle, and scrape a living off the unsuspecting jet-set community. Keep the scams coming and snitch on your friends by emailing us at ScamGoddessPod@gmail.com. Follow on Instagram: Scam Goddess Pod: @scamgoddesspod Laci Mosley: @divalaci Griffin Matthews: @griffinsthreadSee omnystudio.com/listener for privacy information.

Jacob Nordangård is the Swedish researcher, author and heavy metal guitarist who first introduced James to the shocking - and true! - detail that it is the Rockefeller family which is mainly behind the Climate Change scam. Here James joins Jacob for round two of a wide-ranging conversation about everything from the nonsense of global warming [Jacob knows: he used to be an environmental activist] to the total control mechanism (aka The Digital World Brain) our would-be technocratic overlords are planning to impose on us. Also on the menu: the deliberate, soul-sapping ugliness of Town Planning or why every town in the world now looks so samey and so depressing. https://jacobnordangard.se/en/ ↓ ↓ This Delingpod is very kindly sponsored by https://sinacrisps.com The crisp you can eat without the guilt. No seed oils and just 3 ingredients. Use code: JAMES with your purchase for 15% off. ↓ ↓ How environmentalists are killing the planet, destroying the economy and stealing your children's future. In Watermelons, an updated edition of his ground-breaking 2011 book, James tells the shocking true story of how a handful of political activists, green campaigners, voodoo scientists and psychopathic billionaires teamed up to invent a fake crisis called ‘global warming'. This updated edition includes two new chapters which, like a geo-engineered flood, pour cold water on some of the original's sunny optimism and provide new insights into the diabolical nature of the climate alarmists' sinister master plan. Purchase Watermelons by James Delingpole here: https://jamesdelingpole.co.uk/Shop/ ↓ ↓ ↓ Buy James a Coffee at: https://www.buymeacoffee.com/jamesdelingpole To support independent, no-holds-barred journalism and gain first and full access to all James's content, subscribe directly at https://www.jamesdelingpole.co.uk x

Listen as Walter and a cast of eccentric, colorful callers bounce wildly between hilariously relatable everyday grievances—like screaming cats, printer malfunctions, endless password resets, and high-pressure oil changes—to massive historical conspiracies. Tune in to uncover the hidden "truths" about free energy channeled through 19th-century fireplaces, the corporate collusion that destroyed America's electric trolleys, the Rockefeller-designed education system, and the suppressed history of Tartaria. Learn more about your ad choices. Visit megaphone.fm/adchoices

A real estate investor borrowed $160K from his life insurance and never stopped compounding. Here's how.CFP Mark Willis returns to break down the Bank On Yourself strategy and how real estate investors are using life insurance cash value as a source of capital without slowing their growth. He walks through a real client who borrowed $160,000 from his policy to fund a fourplex while the policy kept compounding untouched, why he agrees with Dave Ramsey that most whole life insurance is a bad deal, and what makes the 2% version different. The conversation also covers the Vanderbilt and Rockefeller families as a case study in generational wealth, how a policy loan compares to a HELOC, and where AI still falls short as a financial advisor.Key topics:How a policy loan funded a fourplex without losing a dollar of compoundingWhy most whole life insurance is a bad deal, and what the 2% version looks likeVanderbilts vs Rockefellers, why some families keep generational wealth and others lose itPolicy loans versus a HELOC, side by sideWhy AI still can't replace a financial advisor's judgmentGuest bio:Mark Willis is a Certified Financial Planner and co-author of The Business Fortress, How to Grow, Protect, and Exit Your Business with Confidence. He specializes in Bank On Yourself and infinite banking strategies for business owners and real estate investors.Links:Learn more from Mark and get free chapters of The Business Fortress at kickstartwithmark.com, mention the book title in the form notesWork With RealDealCrewIf you're already closing deals but your intake, follow-up, or visibility feels inconsistent, here are two ways to go deeper:Take the Deal Intake AssessmentSee how resilient your current operation actually is.→ https://assessment.realdealcrew.comBook a Fit CallIf you want to explore what a fully system-driven deal flow looks like, let's talk.→ https://realdealcrew.com/bookLIKE • SHARE • JOIN • REVIEWWebsiteApple PodcastsYouTubeYouTube MusicSpotifyAmazon MusicFacebookTwitterInstagram

The standard understanding of life insurance goes like this: you buy a policy, pay the premiums, file it away, and hope it never gets used. Protection for your family if you die. That's it. But that's not what wealthy families are doing. American dynasties, high-profile entrepreneurs, and the country's biggest banks have been using life insurance as an active wealth-building tool for generations. Not as a replacement for investing. Alongside it. Valued specifically for what it gives them that a brokerage account never can: liquidity, access to capital, and control. https://youtu.be/773_NczfBww What follows unpacks the actual mechanics and why none of it is reserved for people with a Rockefeller-sized net worth. Table of ContentsThe core ideas:How do the wealthy use life insurance?The Trust and Insurance CombinationThe Cascading EffectThe Problem: Sequence of Return RiskThe Buffer in PracticeDo rich people have life insurance?How do the wealthy use life insurance?What is the Rockefeller strategy with life insurance?Why do banks own so much life insurance?Is using life insurance to build wealth instead of investing?What is the volatility buffer strategy?What is a family bank, and how does it work?Do I have to be wealthy to use this strategy? The core ideas: Wealthy families treat life insurance as a managed asset, not a forgotten product The Rockefeller blueprint combines trusts and whole life to create a cascading, multi-generational capital system Banks hold roughly $250 billion in life insurance for the same reasons: liquidity and stability Walt Disney, Ray Kroc, and others borrowed against policy cash value to fund businesses banks wouldn't touch Dr. Wade Pfau's research shows that whole life as a volatility buffer outperforms the "just invest the premium" alternative A family bank isn't a metaphor. It's a functioning system anyone can build. How do the wealthy use life insurance? Wealthy families use whole life insurance as the foundational “before asset” — a private, liquid capital base that comes before investing and supports every other financial move. They value it for tax-advantaged cash value growth, accessible liquidity that isn't tied to market cycles, asset protection from creditors in most states, and above all, control over their capital.  Through a combination of policy loans and trusts, they fund businesses, protect assets across generations, and create a cascading system in which each death benefit replenishes the capital pool for the next generation. The same mechanics are available at any level of wealth with a properly designed policy. How the Wealthy Use Life Insurance Differently Than Everyone Else Wealthy families could absorb financial mistakes more easily than almost anyone. A bad investment, a failed business, a lawsuit. They'd survive. Yet they still put guardrails in place, specifically through whole life insurance. If the people who can most afford mistakes still protect themselves this way, what does that say for everyone else? For someone for whom a serious financial mistake isn't just painful but potentially devastating, the case is even stronger. The mindset shift is this: wealthy families don't see a life insurance policy as a product they bought and filed away. They see it as an asset they manage and deploy. The attributes they value aren't what most people focus on.  They care about accessible liquidity that isn't tied to market cycles, so a bad year in equities doesn't force their hand. They care about asset protection from creditors and lawsuits, which whole life provides in most states (not all). And above everything: privacy, flexibility, and access to capital. Life insurance is private. The only way to know someone owns a policy is if they tell you. That's part of why this strategy stays largely out of view.  Some of the U.S. presidents who have publicly disclosed their assets have shown whole life among them. That's notable, not because presidents are financial geniuses, but because they're disclosing what they actually have. The wealthy don't open with "what return does this get?" They open with control, access, and certainty. That order of questions matters. The Rockefeller Blueprint: Trusts, Policy Loans, and the Cascading Death Benefit The Rockefeller name comes up constantly in Infinite Banking conversations. Almost nobody explains what they're actually doing. The Trust and Insurance Combination Here's the mechanism. The Rockefeller family combines legal structure and whole life insurance. A family bank can be structured in many ways, depending on the family's goals, need for asset protection, and desired level of complexity. It may be as simple as outright policy ownership, or it may involve a trust, an LLC, a holding company, or a layered structure where a trust owns a holding company that owns an LLC designed to manage family capital. The structure can vary, but the purpose is the same: to create a private, liquid capital base using whole life insurance. That capital can then be accessed and directed toward productive uses, such as buying businesses, investing, funding education, or building assets that strengthen the next generation. The Cascading Effect When a family member dies, the death benefit doesn't just get handed out. It's held in trust and distributed according to the family's stated intentions, then refills the capital pool for the next generation, who repeat the same cycle. This is simultaneously a legacy strategy, a banking strategy, a liquidity strategy, and a values-transfer strategy. The trust and the insurance connected together are what make it continuous. Neither piece alone does what both pieces do together. One nuance worth flagging: trusts are not income-tax magic. In most cases, a trust does not eliminate income tax; it simply determines who reports and pays it, whether that is the trust, the grantor, or the beneficiaries. What trusts can do well is provide structure, accountability, estate-tax planning when properly designed, and a measure of asset protection depending on the type of trust, state law, and how much control is retained. That is real value, but it is a different kind of value than people sometimes imagine.  This isn't a strategy reserved for famous dynasties. It works at a personal level too, one generation funding policies for the next, death benefits flowing down to nieces, nephews, grandchildren. Generation One is the hardest. The message isn't that you need to do this at scale immediately. It's about thinking long-term and taking small, high-quality steps. How a Death Benefit Becomes the Next Generation's Foundation The generational laddering concept, developed by Nelson Nash, sits at the heart of any family banking formula. A life insurance policy pays a death benefit. That death benefit funds the premiums on the next generation's policy. That policy pays its own death benefit, which funds the generation after. You can even skip a generation, grandparents to grandchildren. Each cycle creates a larger pool of capital. It's a growing family bank, not a one-time inheritance. The contrast between the two paths is concrete. A $1 million death benefit split four ways gives each child $250,000 outright. No strings. No direction. That's cutting the cord of accountability. The money is gone from the system. Whatever you hoped they'd do with it is just a hope. Hold that same death benefit in a trust, with clear intentions that it continues purchasing life insurance, and you have something different. Accountability with guardrails. Clarity and protective measures built into the structure. Not mandating, not controlling from the grave, but providing guidance and continuity. The goal isn't to control what your children do. It's to give wealth a structure that keeps it circulating in the family rather than dissipating in a single generation. Why Banks Hold Hundreds of Billions in Life Insurance This is the part many have never heard. Banks need somewhere to park their Tier 1 capital. Tier 1 capital is the core equity capital that absorbs losses and prevents insolvency. Regulators require banks to hold it and demonstrate they can access it quickly. What banks have consistently chosen as one of those safe places is life insurance. Bank-Owned Life Insurance, or BOLI, is how it works. Banks take out policies on highly compensated employees and hold the cash value as a capital asset. They use whole life, universal life, and a product designed specifically for banks. As employees age out, they cycle policies onto new people. Regulators cap life insurance at roughly 25% of Tier 1 capital. The numbers, as of June 30, 2025, are not small: Bank of America: ~$25 billion JPMorgan Chase: ~$12 billion PNC Bank: ~$11 billion Truist Bank: ~$7 billion U.S. banks total: ~$250 billion These figures are publicly available via bank rankings at usbanklocations.com, presented here as illustration, not endorsement. The institutions whose entire job is managing capital and risk at the highest level have parked a quarter-trillion dollars here for liquidity and stability. That's worth paying attention to. Not because banks are infallible, but because the reason they use it is exactly the same reason the wealthy use it, and the same reason it's worth considering in a personal financial plan. How Famous Entrepreneurs Funded Their Dreams With Policy Loans Walt Disney wanted to build Disneyland, but the banks said no, so he borrowed against his life insurance cash value.  Capital he controlled, on his own timeline, repaid on his own terms. No restrictive bank covenants, no lost equity stake, no waiting for approval. He used it to help build what became a multi-billion-dollar empire. The key point: he borrowed from his own capital base while the policy kept doing its job....

Dans cet épisode de "Comment j'ai réussi?", Stéphane Pedrazzi reçoit Benoît Dubertret, fondateur de Nexdot et directeur de recherche au CNRS. Spécialiste des boîtes quantiques, il nous fait découvrir comment ces matériaux révolutionnaires, à l'échelle nanométrique, ouvrent la voie à des applications industrielles concrètes et durables.Après avoir brillé pendant six ans aux États-Unis, au MIT, à Princeton et à l'université Rockefeller, Benoît Dubertret a choisi de revenir en France, porté par la conviction de contribuer au rayonnement de son pays. Il nous confie les raisons de ce choix, entre attrait pour l'équilibre de vie à la française et volonté de s'engager pour l'avenir de la recherche et de l'innovation tricolores.Il commence par nous expliquer, avec des mots simples, ce que sont ces fameuses boîtes quantiques. Composées de semi-conducteurs à l'échelle nanométrique, elles possèdent des propriétés uniques d'interaction avec la lumière, permettant d'absorber, de transformer ou d'émettre des photons. C'est grâce à ces caractéristiques que les boîtes quantiques ont déjà révolutionné certains secteurs, comme l'éclairage avec les LED bleues, récompensées par le prix Nobel de physique en 2014.Aujourd'hui, les boîtes quantiques sont également au cœur de l'innovation dans l'industrie des télévisions. L'invité nous révèle que les téléviseurs QLED de Samsung, désormais largement répandus, contiennent ces matériaux qui permettent d'obtenir des couleurs bien plus riches et éclatantes.Mais les applications des boîtes quantiques ne s'arrêtent pas là. Chez Nextdot, lui et son équipe ont développé un vernis transparent, à base de ces matériaux, qui permet de protéger les parfums de la dégradation causée par les rayons UV. Alors que les parfumeurs utilisent traditionnellement des molécules chimiques potentiellement néfastes, ce filtre UV naturel offre une solution plus écologique et efficace pour préserver la qualité des parfums.Malgré les bénéfices évidents, il déplore que l'industrie du parfum peine encore à s'emparer de cette innovation. Les changements de process et d'étiquetage qu'elle implique freinent son adoption, mais Benoît reste confiant dans la capacité de cette solution à s'imposer à terme.L'autre application phare développée par Nextdot concerne les cellules photovoltaïques. En ajoutant une couche de boîtes quantiques au dos des panneaux solaires, l'entreprise parvient à améliorer leur rendement énergétique de 2% - un bond considérable qui se traduit par des gains de plus de 80 millions d'euros par an pour un seul de leurs clients, une entreprise américaine pionnière dans la fabrication de panneaux hors de Chine.Benoît Dubertret souligne l'importance du soutien de la BPI et des fonds européens pour permettre à Nextdot de franchir le cap de l'industrialisation, un défi de taille pour les start-ups issues de la recherche. Il évoque également les défis liés au coût de l'électricité en Europe, qui pénalise l'industrie chimique, et plaide pour une meilleure allocation de l'électricité décarbonée au profit de secteurs stratégiques.Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

He said "order whatever you want" . So she did. Now he's mad at what she ordered. Should she have gotten the most expensive thing? Should he have made that statement? Listen to the whole story hereSee omnystudio.com/listener for privacy information.

Protect Your Retirement with a PHYSICAL Gold and/or Silver IRA https://www.sgtreportgold.com/ CALL( 877) 646-5347 - You Can Trust Noble Gold   As George Carlin said nearly two decade ago, "It's a big club and you and I are not in the big club." The great awakening in play globally right now has more to do with Israel, Zionism and endless wars than it does with the right-left paradigm. Attorney Tom Renz returns to SGT Report to discuss the current issues and crimes within MAGA and MAHA, the Trump administration and on both sides of the aisle within the US "government". Thanks for tuning in. Follow Mr. Tom Renz HERE: https://tomrenz.com/ https://rumble.com/embed/v7a4z2e/?pub=2peuz

How do family offices and ultra-wealthy families use life insurance to build, protect, and transfer wealth for generations? Want to See If Whole Life Insurance Can Improve Your Wealth? Schedule Your Clarity Call Here: https://bttr.ly/bw-yt-aa-clarityIn this BetterWealth episode, Caleb Guilliams sits down with Family Office Expert, Steven Bowles to break down the strategies behind dynasty trusts, estate planning, family banking, liquidity, tax-efficient wealth transfers, and how life insurance can help create lasting multi-generational wealth for 1,000+ years.Connect with Steven Bowles: https://www.linkedin.com/in/stevenbowles1/Watch the Interview on Youtube for Visuals - https://youtu.be/wV_sCxxH5EgLearn More About BetterWealth: https://betterwealth.comChapters:Defining the Family Office Structure: (0:01:57 - 0:05:08)Exploration of what constitutes a family office and when it becomes a necessary strategy for high-net-worth individuals.Legacy and Generational Thinking: (0:05:08 - 0:08:06)Insights drawn from ultra-wealthy families, such as the Rockefellers, and the importance of long-term planning horizons.The Strategy of Outsourcing Risk: (0:08:05 - 0:15:53)Analysis of why insurance is utilized as a tool for risk management rather than just a financial commodity.Liquidity and Wealth Preservation: (0:15:53 - 0:27:15)How insurance acts as a buffer against market volatility and provides necessary liquidity at the end of a lifetime.Family Harmony and Planning: (0:27:15 - 0:31:20)The intersection of estate planning, buy-sell agreements, and maintaining family unity through structured wealth transfer.Trust Structures Explained: (0:31:20 - 0:37:16)Understanding the role of irrevocable trusts, dynasty trusts, and the trustee's role in managing policy loans.Premium Finance Analysis: (0:37:16 - 0:42:46)A critical look at premium finance strategies, the risks involved, and the danger of treating insurance as an arbitrage play.Reviewing MPI and Kai-Zen: (0:42:46 - 0:53:56)Discussion on the potential risks of MPI and Kai-Zen.Deep Dive into Dynasty Trusts: (0:53:56 - 1:04:46)How intentionally defective grantor trusts function to remove assets from a taxable estate while providing long-term legacy benefits.Education, Stewardship, and Infinite Banking: (1:04:46 - 1:11:35)How wealthy families prioritize the lifetime education of the next generation to steward inherited wealth effectively.DISCLAIMER: https://bttr.ly/aapolicy*This video is for entertainment purposes only and is not financial or legal advice.Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

When people hear the phrase “generational wealth,” they often picture trust funds, family empires, and names like Rockefeller or Kennedy. Real generational wealth is not just about leaving behind a large account balance. It is about passing down values, habits, opportunities, work ethic, and a clear understanding of how money can support a meaningful life.In this episode of A Wiser Retirement® Podcast, we discuss what it really takes to build generational wealth. The conversation goes beyond dollars and investments, focusing instead on how families can prepare the next generation to handle money responsibly, pursue their own goals, and carry forward a family legacy with purpose.Related Podcast Episodes: Ep 304. Under the Radar: Wealth Strategies for the Quietly RichEp 219. Do you have a wealth preservation plan?Related Financial Education Videos:Divorce Proofing Your Wealth: Beyond the Basic Prenuptial AgreementShould I Use Wealth Management?Learn More:Founded in 2001, Wiser Wealth Management is a fee-only fiduciary financial planning and wealth management firm helping individuals, families, and business owners make informed financial decisions.Have questions about your financial plan? Schedule a Complimentary Consultation to discover how we can help you achieve financial freedom.  Access Our Free Guides: Gain valuable insights on building a financial legacy, the importance of a financial advisor for business owners, and the tax impact on inheritance, and more!Stay Connected:Follow Wiser Wealth Management on Social Media: Facebook | Instagram | LinkedIn | TwitterSubscribe to A Wiser Retirement® YouTube Channel for more financial education videos and podcast episodes. This podcast was produced by Wiser Wealth Management. Thanks for listening!

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.

En este recap de junio hablamos de cuánto dinero está dejando realmente el Mundial en México, quién gana de verdad con los boletos y los Fan Fest, y por qué Estados Unidos no se siente tan mundialista como las sedes mexicanas.Analizamos la salida a bolsa histórica de SpaceX, el fugaz título de Elon Musk como primer “billonario” en español y el papel de la narrativa en las valuaciones, y cerramos con el nuevo round de Donald Trump contra el T-MEC, la apuesta del nearshoring y el reto de construir una economía mexicana menos dependiente de mano de obra barata.Sé parte de la primer temporada de Fírmame el Cheque. Si eres emprendedor y buscas inversión, entra a la liga que te dejaré a continuación, llena el formulario con la información de tu negocio y ya estarás compitiendo por un lugar en el programa: https://firmameelcheque.com/ 00:00 - Junio, mes del Mundial: sedes, camisetas y cómo se está viviendo la vibra en México y EUA01:41 - ¿De verdad hay derrama? Primeras cifras de consumo, ocupación hotelera y expectativas que no se cumplen02:10 - 700,000 personas en El Ángel y el Fan Fest de Monterrey metiendo 120,000 al día: fiesta y presión urbana a la vez03:27 - Picos de consumo vs cambio estructural: basura, seguridad y hoteles lejos del 80% esperado04:23 - “¿Quién gana de verdad con el Mundial?” FIFA, boletos, licencias y negocios locales con picos temporales05:16 - Infantino y los boletos caros: estudio de mercado, reventa y la pregunta de a quién debe ir el dinero08:24 - El Mundial sí está en México: contraste brutal entre el ambiente en CDMX/Monterrey y ciudades de EUA/Canadá10:24 - ¿Cuánta gente extranjera está viniendo? Poder adquisitivo, boletos carísimos y mundiales menos “amables” al bolsillo15:25 - La megasalida a bolsa de SpaceX: precio, monto levantado y valuación de 1.7 billones de dólares en español17:31 - SpaceX como infraestructura estratégica: cohetes, defensa, satélites, IA y narrativa de “empresa del siglo XXI”19:55 - Musk como mito: gente que compra su Tesla con las ganancias de Tesla y cómo eso alimenta la leyenda25:40 - Elon Musk, primer billonario “en papel”: cómo llega a más de 1 billón y por qué esa riqueza no está en efectivo27:34 - Rockefeller vs Musk: comparar fortunas ajustadas por inflación y porcentaje del PIB de EUA29:20 - Narrativa mata balance: por qué hoy las valuaciones dependen más del cuento que de los estados financieros33:28 - Trump y el T-MEC: amenazas, incertidumbre para el nearshoring y la necesidad de fortalecer mercado interno en México

El cuento del asesino a sueldo El misterioso asesinato de un adinerado forastero en un pueblo de montaña lleva a los investigadores por un laberinto de traiciones, grandes sumas de dinero y más derramamiento de sangre. Inventando un Rockefeller Una pareja desaparece mientras trabajaba en una misión secreta, lo que lleva a la policía a seguir la pista de un estafador vinculado a la alta sociedad estadounidense. Un equipo de agentes del orden y fiscales de todo el país deben trabajar juntos para dar con el escurridizo cerebro de la operación.

Durch das Leben von Božena Němcová, George Sand und Rockefeller der Gegenwart auf der Spur: Die tschechische Autorin Radka Denemarková spricht über innere Freiheit, äußere Zwänge und ihren Roman „Schokoladenblut“.

No Sunscreen Ever? Dermatology vs. Circadian Biology – Why One Expert Says Ditch SPF for Good: Sunscreen Part 2 Unknown Death Causers Part 8 | Improvement Warrior Podcast Episode 88 Should you never wear sunscreen again?In this episode, we explore Jason Yun's powerful Substack argument — 'No Sunscreen Ever? Dermatology vs. Circadian Biology.' While mainstream dermatology insists on daily SPF to prevent cancer and aging, circadian health experts like Jason make a compelling case that sunscreen blocks vital sunlight signals our bodies need for vitamin D, melanin production, hormone balance, and mitochondrial health.Show highlightsThe Core Clash: Mainstream dermatology pushes daily sunscreen to prevent skin cancer and photoaging, while circadian biology views sunlight as essential medicine that sunscreen actively blocks.Vitamin D Sabotage: Even SPF 8 blocks 92–95% of vitamin D production; higher SPFs (30/50/75) are even more restrictive — turning one of the sun's biggest health benefits into a non-event.Chemicals in Your Bloodstream: Sunscreen ingredients are absorbed through the skin (the body's largest organ). Circadian Disruption on the Skin: Sunscreen blocks critical light signals to opsins and chromophores in the skin, interfering with POMC processing, hormone signaling (dopamine, alpha-MSH), and the skin's own circadian clocksThe “Solar Callus” Concept: Gradual, properly sequenced sun exposure (sunrise first, then UVA/UVB) allows the body to build natural melanin armorMelanin Is Your Superpower: Far more than cosmetic tanning — melanin acts as a potent antioxidant, mitochondrial protector, and biological sunscreen that modern indoor lifestyles + seed-oil-heavy diets have made us lose.Host's 8+-Year Experiment: Jason Yun stopped using sunscreen after his 2011 honeymoon, built a base tan through consistent exposurePhotoaging Reconsidered: Wrinkles and elastosis aren't solely caused by UV — proper sun exposure (in the right sequence) can actually support collagen, elastin, and hyaluronic acid production. Why We're More Sun-Sensitive Today: Modern factors (chronic indoor living, blue light/EMF overload, high omega-6 diets, magnesium deficiency) make skin burn easier. The solution isn't more sunscreen — it's fixing the underlying environment.Sunscreen & Melanoma Paradox: The article highlights research suggesting sunscreen users can have higher melanoma risk, possibly due to longer intentional sun exposure combined with blocked benefits and toxic ingredients.Dermatology Critique: Dermatologists are trained in a system called “Rockefeller medicine” — focused on treating symptoms and creating lifelong patients rather than optimizing the skin as a light-sensing, hormone-producing organ.Broader Systemic Wins from Sunlight: Beyond skin, proper exposure boosts nitric oxide, supports sulfated vitamin D, enhances immunity (cathelicidin), improves mitochondrial function, lengthens telomeres, and strengthens circadian alignment for better sleep, mood, and metabolism.Resources MentionedNewsletter: http://www.improvementwarriorfitness.com/nlPatreon: http://www.improvementwarriorfitness.com/patreonPodcast Support Kofi; http://www.improvementwarriorfitness.com/kofiUnknown Death Causer Podcast on Sunscreen (UDC #2 / Episode 36): http://www.improvementwarriorfitness.com/sunscreenVitamin D episode (Episode 5): http://www.improvementwarriorfitness.com/iwp5Breast cancer & Vitamin D (adolescent exposure): https://aacrjournals.org/cebp/article/16/3/422/260255/Vitamin-D-and-Reduced-Risk-of-Breast-Cancer-A Sunscreen absorption study: "Effect of Sunscreen Application Under Maximal Use Conditions on Plasma Concentration of Sunscreen Active Ingredients" (JAMA randomized clinical trial). Circadian Biology Webinar Series: http://www.improvementwarriorfitness.com/circadianbiologyMagnesium recommendation: http://www.improvementwarriorfitness.com/magnesiumSubstack profile: improvementwarrior.substack.com

A FREE Copy of Jeff's Book, Discernment Listen to the full episode here! https://youtu.be/gQ2QBj1VOWw   What can every entrepreneur learn from the Rockefeller family? In this episode of the Unemployable Podcast, Jeff Dudan sits down with wealth expert Garrett Gunderson to discuss the timeless financial principles that have helped wealthy families preserve their wealth for generations—and how those same strategies can benefit today's business owners. They discuss trusts, legacy planning, life insurance, good debt versus bad debt, protecting assets, avoiding costly investment mistakes after selling a business, and why focus often beats diversification. Whether you're building your first company or preparing for a successful exit, this conversation will challenge the way you think about wealth creation and wealth preservation. 

A FREE Copy of Jeff's Book, Discernment Listen to the full episode here! https://youtu.be/gQ2QBj1VOWw   What can every entrepreneur learn from the Rockefeller family? In this episode of the Unemployable Podcast, Jeff Dudan sits down with wealth expert Garrett Gunderson to discuss the timeless financial principles that have helped wealthy families preserve their wealth for generations—and how those same strategies can benefit today's business owners. They discuss trusts, legacy planning, life insurance, good debt versus bad debt, protecting assets, avoiding costly investment mistakes after selling a business, and why focus often beats diversification. Whether you're building your first company or preparing for a successful exit, this conversation will challenge the way you think about wealth creation and wealth preservation. 

Rothbard's summation: the Federal Reserve was a government-sanctioned cartel engineered by the Morgan, Rockefeller, and Kuhn, Loeb interests to enable coordinated inflation—achieved only with the legitimizing support of technocratic experts and academics.

The first organized big-business push for banking reform. Rothbard recounts how the 1896–97 Indianapolis Monetary Convention, backed by Morgan- and Rockefeller-tied elites, enlisted economists to press for the gold standard and a centralized, more “elastic” banking system.

The wealthiest families on earth don't run on luck. They run on a system. In this High Level Conversation, Keenan Beasley — founder and CEO of Factory Holdings — breaks down the operating system behind every dynasty that survived its founder: the family office. The same machine the Medicis used to fund the Renaissance and the Rockefellers used to become their own private bank, decoded for the culture that was never handed the blueprint.This is a conversation about coordination over competition. About turning culture and influence into capital and ownership. About treating your family the way the powerful have always treated theirs — as an institution built to last a hundred years, not a household scrambling after every funeral over who plans the next dinner.We move from the original meaning of the word "family" all the way to cultural sovereignty: the right to build, own, and pass down without asking permission. If you have influence but no infrastructure, attention but no ownership, this is the map.WHAT WE DECODEWhy "family" was always an economic institution, not a feelingThe family office explained: the operating system of the wealthy, and why the mindset is free even when the structure costs millionsStructure over luck: why outcomes trace back to the system a child is born intoBlack wealth, the coordination problem, and the infrastructure layer that's still missingMoney-making versus meaning-making, and why we traded the wisdom of elders for the noise of checksMedici, Rockefeller, and the keiretsu model: families that became banks, networks, and sovereign systemsAlpha versus beta, first checks, and how the rich actually right-size a betThe Factory mission: cultural and cognitive sovereignty, and the next 1,000 family officeSupport this podcast at — https://redcircle.com/19keys/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

By 2048, an estimated $124 trillion will change hands — the largest transfer of wealth in human history. Roughly $105 trillion to heirs, $18 trillion to charity. And here's the uncomfortable truth: about 70% of family wealth disappears by the second generation, and 90% is gone by the third.In this week's Money On Tap, Ben Brayshaw and Dan Michelon dig into what the great wealth transfer really means — not for the economy, but for your family. They unpack why wealth preservation is far more behavioral than investment-driven, what the Vanderbilts got wrong and the Rockefellers got right, and the Warren Buffett principle every parent and grandparent should know. Most importantly, they walk through the four conversations every family needs to have before the money moves — and the simple first step you can take this week.What you'll learn:Why $124 trillion in motion could be a generational blessing — or a great wealth disasterThe statistic that should stop every family cold: 70% gone by generation two, 90% by generation threeWhy wealth preservation is behavioral, not investment-drivenThe tale of two fortunes: Vanderbilt vs. RockefellerThe four conversations every family must have before the transferA practical first step you can take this week — and the BFG white paper that helps you run your own family meetingPlus Money In The News:General Motors and Lockheed Martin announce a new multi-billion-dollar defense manufacturing partnershipJeff Bezos proposes eliminating federal income taxes for the bottom half of U.S. earners — and what it would actually mean“The job interview is broken”: how AI is reshaping hiring on both sides of the tableRead the companion blog: https://www.brayshawfinancial.com/blog Schedule a free consultation: https://app.greminders.com/t/9f3ce72e/initialconsulta Browse the full Money On Tap library: https://www.brayshawfinancial.com/money-on-tapContact Us - Phone: 855-226-8551 - Email: info@yourmoneyontap.com - Office: 116 South River Road, Bedford, NH 03110 - Web: brayshawfinancial.comSecurities and advisory services offered through Osaic Wealth, Inc., member FINRA/SIPC. All other services offered through Brayshaw Financial Group, LLC are independent of Osaic Wealth, Inc.If the S&P 500 is up 10%, why isn't my portfolio?Because the S&P 500 is cap-weighted: seven stocks absorb about a third of every dollar, and the top 10 holdings make up 35–55% of most S&P funds. In 2026 those mega-caps lagged — the Mag Seven are collectively negative — while sectors like energy (+28.1%) and technology (+26.8%) led. If your ETFs overlap in the same top names, you own the laggards several times over. The fix starts with knowing what you actually own.

#308: Ein Mann sitzt in einem Nobelrestaurant in Boston. Er trägt eine leuchtend grüne Cordhose mit aufgedruckten Enten, dazu ein rosafarbenes Hemd und einen blauen Blazer mit einer grünen Fliege. Gerade unterschreibt er einen Scheck über 110.000 Dollar für die Restaurierung einer Kirche. Er setzt seinen Namen darunter: Clark Rockefeller. Der schick gekleidete Mann ist Nachkomme der Rockefeller-Familie – einer der bekanntesten und einflussreichsten Familien der USA. Als Clark Rockefeller sich vor Gericht verantworten muss, melden sich plötzlich Beamte aus Kalifornien. Sie müssen unbedingt mit Rockefeller sprechen – wegen eines anderen Kriminalfalls, der sich 14 Jahren ereignet hat. Ein Cold Case, dessen Lösung die Beamten nun zum ersten Mal näher gekommen sind. Quellen (Auswahl) Buch "Der Mann, der Rockefeller war – Aufstieg und Fall eines Bayerischen Hochstaplers" von Mark Seal Artikel [DER SPIEGEL](https://www.spiegel.de/thema/christian_karl_gerhartsreiter/) Artikel [stern](https://www.stern.de/kultur/tv/mein-freund-rockefeller--regisseurin-steffi-kammerer-ueber-den-moerder-7075882.html) Eine Produktion von Auf Ex Productions Hosts: Leonie Bartsch, Linn Schütze Recherche: Nina Schnackenbeck, Linn Schütze Redaktion: Antonia Fischer Produktion: Antonia Bolln, Lorenz Schütze Mehr Informationen, Bilder und Videos zum Fall findet ihr auf Social Media unter @mordaufexpodcast Privat könnt ihr uns auch auf Instagram folgen: @leonie_bartsch & @linnschuetze Du möchtest mehr über unsere Werbepartner erfahren? [**Hier findest du alle Infos & Rabatte!**](https://linktr.ee/MordaufEx) Du möchtest Werbung in diesem Podcast schalten? [**Dann erfahre hier mehr über die Werbemöglichkeiten bei Seven.One Audio!**](https://www.seven.one/portfolio/sevenone-audio)

Protect Your Retirement with a PHYSICAL Gold and/or Silver IRA https://www.sgtreportgold.com/ CALL( 877) 646-5347 - You Can Trust Noble Gold Orsini, Rothschild, Rockefeller, the Council of 13. The Bank for International Settlements, the IMF, the World Bank and the Federal Reserve. The UN, the CFR and the New World Order. Just some of the names that come to mind when one speaks about the powers behind the throne of nearly every nation on earth. Mel K returns to SGT Report to discuss her new book and the Rulers of the Darkness of this world. Thanks for tuning in.   The Mel K show on Rumble: https://rumble.com/c/TheMelKShow?e9s=src_v1_cbl https://old.bitchute.com/video/qTaa2OW91Add/

Watch every episode ad-free & uncensored on Patreon: https://patreon.com/dannyjones Matthew Ehret is a journalist, lecturer, and founder of the Canadian Patriot Review. SPONSORS https://amentara.com/go/dj - Use code DJP22 for 22% off. https://mengotomars.com - Use code DANNY for 50% off for life. https://whiterabbitenergy.com/?ref=DJP - Use code DJP for 20% off. EPISODE LINKS https://substack.com/@matthewehret https://canadianpatriot.org FOLLOW DANNY JONES https://www.instagram.com/dannyjones https://twitter.com/jonesdanny OUTLINE 00:00 - The plan to reset society on 9/11 03:45 - Plato 12:21 - The fallacy of the creation of the universe 18:28 - Robert Sopalsky & the God-shaped hole 21:50 - Defining wisdom & the connection to truth 26:55 - Epstein's connection to ancient Roman empire 31:50 - Jacques Costeau's views on depopulation 37:57 - Cosmic radiation's impact on the Earth 47:48 - Adversarial scarecrows & trojan horse assumptions 53:05 - Thomas Malthus' prediction of cataclysms 58:39 - The 9 muses & the mystery of creativity 01:01:09 - Kepler's 3 laws 01:08:06 - The forbidden ways of thinking 01:11:01 - Matt's film on the UFO psy-op 01:13:30 - The Esalen program on psychedelics 01:18:03 - Why Satan chooses to be evil 01:26:57 - UFOs are a multi-generational magic trick 01:33:47 - The Rockefellers' control grid 01:41:44 - The one-world alien religion 01:50:20 - Plato's noble lie 01:55:49 - Plato's definition of a human being 02:00:05 - Straussians & Plato's secret doctrine 02:07:18 - What it means to be a Platanist 02:17:01 - Sketpicism of Telepathy Tapes & Uri Geller 02:24:11 - The power of self-deceit & belief 02:28:40 - Washington Irving Bishop 02:35:16 - Houdini's role in national intelligence 02:36:57 - The secret society that killed Lincoln & started the KKK 02:45:20 - Oneida cult 02:47:06 - The paradox of Presidential assassinations 02:52:50 - Shadow organization running the world today 02:57:15 - Dark strategy behind the Epstein files 03:05:10 - The Silicon Valley movement 03:12:39 - Tavistockian method of breaking people 03:15:27 - Suspicious names behind UFO disclosure 03:27:48 - The narrative that explains UFO disclosure 03:33:40 - Varginha, Brazil UFO incident Learn more about your ad choices. Visit podcastchoices.com/adchoices

Michael Smith—Managing Partner and Founder, Emerald Advisors Michael Smith shares how a client-first philosophy, niche specialization, and independence helped Emerald Advisors grow from $385mm to more than $1B in assets. In Summary What happens when an advisor builds a business around client service rather than operational efficiency? Jason Diamond speaks with Michael Smith, Founder and Managing Partner of Emerald Advisors, about the path from a successful Merrill practice to an independent RIA that has grown from approximately $385mm to more than $1B in assets. Along the way, Michael shares the story of being told he was “overservicing” clients, why that moment became a catalyst for independence, and how a highly specialized service model fueled the firm's growth. Drawing on lessons from a 24-year Navy career, Michael offers a perspective on leadership, specialization, client care, and what it takes to build a durable business in today's wealth management landscape. The Storyline Growth is often viewed as the result of marketing, referrals, acquisitions, or scale. Michael Smith sees it differently. After building a successful practice at Merrill, Michael found himself at odds with the constraints of the traditional wirehouse model. What ultimately stood out wasn't compensation, technology, or platform capabilities. It was a philosophical difference around client service. When he was told he was spending too much time helping clients navigate tax planning, equity compensation, and other financial decisions outside the traditional scope of investment management, he began to question whether the model aligned with the way he wanted to serve families. That realization eventually led him to launch Emerald Advisors in late 2019. The firm started with roughly 85 clients and approximately $385mm in assets. Today, Emerald serves more than 225 families and oversees more than $1B in assets. Throughout the conversation, Michael reflects on the lessons learned from building an independent firm, developing a niche around concentrated stock positions and executive compensation, navigating custodial and technology decisions, and creating a culture rooted in accountability and service. Underlying it all is a simple belief: when firms become highly intentional about who they serve and how they serve them, growth often becomes the outcome rather than the objective. Topics Covered Merrill breakaways and independence Client service as a growth driver Building an RIA RIA growth and scalability Organic growth strategies Concentrated stock positions and equity compensation planning Ideal client personas and niche specialization Schwab and Fidelity custody relationships Advisor succession and enterprise value Navy leadership principles in wealth management The rise of mega RIAs Advisor technology and infrastructure > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why did being accused of “overservicing” clients become a turning point? (08:15)Michael explains how a conversation with management revealed a deeper misalignment between his client-service philosophy and the wirehouse model. What does client service look like beyond portfolio management? (11:30)The discussion explores how tax planning, equity compensation guidance, and proactive coordination can deepen client relationships. Why can specialization accelerate growth? (15:45)Michael shares why serving a defined niche often creates stronger referrals, greater expertise, and clearer positioning. How has the RIA landscape evolved since 2019? (20:30)Michael reflects on the rise of mega RIAs, changing technology capabilities, and why he believes independent firms still have significant advantages. What role do custodians really play in an independent business? (23:15)Michael discusses his experience working with Schwab and Fidelity and why he views custodians as strategic partners rather than competitors. Is the wirehouse model still the right fit for some advisors? (26:45)The conversation challenges the assumption that independence is the best path for everyone and explores the realities of running a business. Does reaching $1 billion in assets actually change anything? (32:45)Michael offers a practical perspective on growth, success, and why asset milestones can be misleading. What can advisors learn from the “steamboat” philosophy? (37:15)Drawing on his Navy experience, Michael shares a leadership framework that continues to shape how he approaches business building and decision-making. Key Takeaways Exceptional client service can become a meaningful competitive advantage when it extends beyond investment management. Independence gave Michael the flexibility to build a service model that aligned with his philosophy rather than adapting his philosophy to fit the platform. Developing a niche around executive compensation and concentrated stock positions helped accelerate Emerald's growth. The ability to make technology, custodial, and operational decisions quickly remains a significant advantage for independent firms. Not every advisor should be independent. Running a business requires a different set of skills and responsibilities than serving clients alone. Growth milestones are useful, but they do not define success. Michael believes success existed long before Emerald reached $1 billion in assets. High-performing teams with a clear client focus often find that growth becomes a natural byproduct of execution. https://youtu.be/RjzsMcC2DnY Quotable Moments “I literally had to go back and Google the word overservicing.” “Servicing the client is the most important thing that we can do today.” “If you serve a niche and you're very good at that niche, that word gets around.” “Growth becomes the outcome.” FAQs Can an advisor really “over-service” clients? The discussion explores the tension between efficiency and depth of service. While some business models prioritize scale and consistency, others are built around solving a broader range of client problems. The right answer often depends on the advisor's philosophy and business model. Does specialization still matter in a relationship business? Michael argues that developing expertise in a specific area can accelerate growth by making referrals easier and helping advisors become known for solving a particular set of problems. What actually changes when an advisor becomes independent? Beyond economics, independence often creates more flexibility around client service, technology, processes, and business decisions. At the same time, advisors assume responsibility for running the business itself. Is full independence the right path for every advisor? No. Michael acknowledges that many advisors benefit from the structure, support, and resources available within traditional firms. Independence offers flexibility, but it also introduces complexity and responsibility. How should advisors think about the $1 billion milestone? Michael views asset milestones as useful benchmarks but not measures of success. In his view, business quality, client outcomes, and sustainability matter more than any specific asset number. What role does an ideal client persona play in growth? Rather than trying to serve everyone, Emerald built its business around a clearly defined client profile. Michael believes that focus improves service, creates operational consistency, and supports organic growth. How can advisors balance growth with client service? One of the central themes of the episode is that growth and service are not necessarily competing objectives. In some cases, a differentiated service model becomes the reason a business grows. The discussion explores the tension between efficiency and depth of service. While some business models prioritize scale and consistency, others are built around solving a broader range of client problems. The right answer often depends on the advisor's philosophy and business model. Michael argues that developing expertise in a specific area can accelerate growth by making referrals easier and helping advisors become known for solving a particular set of problems. Beyond economics, independence often creates more flexibility around client service, technology, processes, and business decisions. At the same time, advisors assume responsibility for running the business itself. No. Michael acknowledges that many advisors benefit from the structure, support, and resources available within traditional firms. Independence offers flexibility, but it also introduces complexity and responsibility. Michael views asset milestones as useful benchmarks but not measures of success. In his view, business quality, client outcomes, and sustainability matter more than any specific asset number. Rather than trying to serve everyone, Emerald built its business around a clearly defined client profile. Michael believes that focus improves service, creates operational consistency, and supports organic growth. One of the central themes of the episode is that growth and service are not necessarily competing objectives. In some cases, a differentiated service model becomes the reason a business grows. Related Resources The Transitioning Advisor's Lament: Things I Wish I Knew Before Freedom vs. Familiarity: Is it Worth Disrupting Comfort for Something That Might Be Better? IBD vs. RIA Revisited: Two Independent Pathways for Advisors to Consider Advisor Transition Report 2026 Guest Bio Michael Smith, CPWA® is the Founder and Managing Partner of Emerald Advisors, an independent wealth management firm overseeing more than $1 billion in assets for affluent families, executives, and business owners with complex planning needs. Mike entered the wealth management industry in 2005 after a distinguished 24-year career in the United States Navy, where he served both as an enlisted sailor in the Submarine Force and later as a Limited Duty Officer aboard USS Abraham Lincoln and on major staffs around the world. He earned a Bachelor of Science in Management and an MBA with dual emphases in Finance & Accounting and International Business. Throughout his career, Mike has been known for his commitment to comprehensive planning, helping clients navigate complex issues involving concentrated stock positions, executive compensation, tax strategy, estate planning, philanthropy, and multi-generational wealth transfer. His client-first approach and passion for education have helped Emerald Advisors grow from a startup firm in 2019 to a nationally recognized RIA serving more than 225 families. Outside of the office, Mike is an avid ultrarunner, golfer, lifelong learner, and dedicated advocate for children’s health initiatives. He is a current member of the Legacy Council at Seattle Children’s Hospital and has served in leadership and board roles supporting the Juvenile Diabetes Research Foundation, the Barbara Davis Center for Diabetes, the ALS Association, and the Alyssa Burnett Adult Life Center. He is also the proud father of Kat Smith. NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. View the transcript of this episode… From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story A conversation with Jason Diamond and Michael Smith, Managing Partner and Founder of Emerald Advisors.      Jason Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story. It’s a conversation with Michael Smith, managing partner and founder of Emerald Advisors. 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: Growth is often viewed as the result of better marketing, stronger referrals, a larger team and even acquisition and that’s all true yet growth can be the byproduct of something else entirely. For example, Michael Smith built a successful practice at Merrill then, one day, he was told he was spending too much time with his clients, or his management put it over-servicing clients. For Michael, that wasn’t a warning sign about his approach, it was a signal that he might have outgrown the firm and the model. Today, Michael is the founder and managing partner of Emerald Advisors, the independent RIA he launched in late 2019 with roughly 385 million in assets and 85 client relationships. Less than seven years later, the firm has grown to more than a billion in assets while remaining deeply focused on a highly-specialized client base and an unusually hands-on service model. What makes this story particularly interesting isn’t just the growth, it’s the thinking behind it. Michael’s perspective was shaped long before he entered wealth management. After serving more than two decades in the Navy, he brought a leadership philosophy centered on accountability, discipline and what he calls steamboat people, those who keep moving forward regardless of conditions, that mindset continues to influence how he builds his team, serves clients and evaluates opportunities. In this episode, we discuss the decision to leave Merrill, the realities of launching a fully independent RIA, why specialization can accelerate growth, the evolving role of custodians and technology and why he believes exceptional client service remains one of the industry’s most durable competitive advantages. Because Michael’s experience suggests that growth isn’t always the result of finding more opportunities, sometimes it’s the result of creating the freedom to execute the vision you already had so let’s jump in. Michael, thank you so much for joining us today. For starters, can you walk us through your background and what brought you to the world of wealth management? Michael Smith: Jason, thank you so much for the opportunity to be here today, I do listen to the podcast a lot especially before I left Mother Merrill. But my background and how I got into financial services is really distinct because I was on the board of JDRF back in the day and the national sponsor for JDRF was UBS PaineWebber and they’re like, “Mike, why don’t you be a financial advisor?” And my master’s degree was actually a finance and accounting in portfolio management because I’ve managed my own portfolio for years and years and so, when I couldn’t get a job, I just fell into it because I couldn’t get a job and I needed a job. That was 21 years ago, Memorial Day so that’s how I got into this industry. Jason Diamond: It’s a unique background, it’s super interesting and I want to talk more about it. You mentioned Mother Merrill, we’ll certainly get there. Before we do, give us a little bit of context on the current business you operate, Emerald Advisors, any context you can share on size, number of staff, types of clients you serve would be great. Michael Smith: Sure. So, we launched Emerald in 2019, November 2019 with about 85 clients and you always talk about this on the podcast how scared it is to launch and go independent. And I would say we took over about 95% of our clients that we wanted to bring over and today we’re at about 230 clients, I think we have some onboarding right now, we have just over a billion of assets. So, we launched with the 85 clients and around 350, 385 million, now we’re over a billion. Jason Diamond: Good for you. Michael Smith: Thank you. And I launched with four employees and we’re now at 11. And I would give a shout-out to one of my key employees because, when I launched, I actually hired somebody that had no experience with us and that was really a good thing because that allowed that person to really focus on operations and back office stuff while my business partner Emily and I were able to focus on bringing on the clients and alleviating any issues that they may have or thought. Jason Diamond: So, meaning you hired somebody basically immediately upon launch to help you with the transition and with this next chapter? Michael Smith: Correct. I hired them before but they started the day we launched. Jason Diamond: Brilliant, I love it. Oh, let’s definitely talk more about that because I think that’s a great strategy for … You’re right, you said it in a joking manner now because you’re seven years past but it’s a very real fear that advisors have and I think it’s worth talking more about. I want to mention too you have, obviously, built this business and grown this business dramatically. I don’t want to make this episode about the pandemic but you moved the business at a, certainly, a unique time. Did it impact your growth at all? Did you feel like you hit a brick wall? Just curious about your thoughts. Michael Smith: No, Jason, that’s a great observation. I would venture to say that the pandemic was actually a good thing for us. Jason Diamond: Interesting. Michael Smith: And I say that because, all of a sudden, you could hit pause because everyone was relearning how to do business, how do we do client reviews, how do we communicate with clients in a environment. So, I think the pandemic allowed us to just really reset our expectations visiting with clients because I used to fly a lot because I have clients in 38 different states so this has actually been, not just good for me, but good for the industry because I think it’s reset our expectations that we don’t have to be every day with a client facing. Jason Diamond: I agree with that largely and it’s true of our business too, by the way, it’s certainly reshaped the way people expect to be communicated with. I think Zoom has become much more mainstream, phone calls and we’ve heard from many other advisors who say something similar. I was just curious because you moved so close to or if there was an impact but I get, honestly, I think you’re right, it allowed you to have this nice natural inflection point and almost like flipping a switch of a clean slate. Michael Smith: It allowed us to learn the processes too. So, we launched in November 1st, by March we were in lockdown and so it gave us the opportunity to take several months of just learning the processes of how to be an RIA, it was pretty good. Jason Diamond: Absolutely. So, one of the things you mentioned in that was the way in which you serve clients and I’d read something funny and I think it was around the time of your move. You were talking about that, Merrill, you had a manager who spoke about that you would overserve your clients, you serve clients too much, tell me about that. Michael Smith: That was such an interesting topic because I got called down to the ops officer’s office and they’re like, “Ugh, Mike.” And it brought my admin down with me and they’re like, “Mike, these reports that you’re taking care of your clients too much,” and I’m like, “What do you mean?” “Well, you’re overservicing them.” Jason, I literally had to go back and Google the word overservicing because I was like, “How do you overservice the client? I’m not making their bed.” It was just so funny to me that I got counsel for overservicing clients when we’re in a client-facing job and I think that was part of the catalyst. Jason Diamond: Tell me more about what they meant, you think. Michael Smith: Hindsight, I think they … I like to take care of people which means I’m very intuitive towards taxes, I understand how the tax code works, I understand how everything impacts their bottom line. So, when we’re doing deferred comp enrollments or 401(k) enrollments or I’m a big believer in Roth 401(k)s and backdoor Roths and I’ve been doing them for years, I think what Mother Merrill wanted at that time was us not to do that. And, again, nothing against Merrill, I get it but this is how they wanted us to act and I wasn’t in that mold, I was taking care of clients to a much deeper depth is how I would say it. Jason Diamond: And I think that speaks to you outgrew the model not necessarily the firm. I think Merrill does a lot of things really well, you would agree with that, I think given that you built 85 clients and 350 million in assets is nothing to sneeze at. But the model that it seems like you value client service and an integrated client service experience of that and the wirehouse model oftentimes doesn’t put a premium on that. Tell me about your ethos or your thoughts around client service today and what being independent enables you to do. Michael Smith: So, that’s an interesting observation because one of my clients actually just mentioned to me that the reason we’re growing so much is because of our service model and the fact that we deliver a tremendous amount of value over just portfolio management. I said my managers is in portfolio management, I don’t do that any longer, I have a staff that handles that for me but it’s really the servicing of the clients because they don’t know what we know and I think servicing the client is the most important thing that we can do today. Jason Diamond: Give me some examples of what you mean by servicing the client in a more holistic way. I agree with you, by the way, portfolio management, table stakes, financial planning, table stakes, tell me more about what you mean. Michael Smith: By that I mean we do a quarterly review on tax. So, a lot of people don’t understand how taxes work and how estimated taxes work. So, estimated taxes are January 1st to March 31st, January 1st to May 31st, January 1st to August 31st, that’s how you do your estimated tax payments, you figure out what that is. And for compensated employees where they have RSUs that come in at different times of the year or different grants or exercise their options at a different time, that can affect their estimated tax liability and I’m not big on giving Uncle Sam any more money than they have to have until they need it. And then everyone doesn’t understand how the penalties and interest works on the IRS. And I’m big on the tax payments because that’s where we can add a lot of value for not a lot of time and we integrate it with our portfolio so we know what we’re doing with our gains. And I happen to reside in Washington State which has a long-term capital gains tax rate once you surpass about 270,000 of long-term capital gains. So, it’s super important for us to be aware of this and that’s how we service them. We also help them with their rebalancing of their 401(k)s, things that wirehouses cannot supposed to do, we are not supposed to be helping them with some of their aspects of life. Jason Diamond: Yup. That’s what I was alluding to earlier, it’s limitations on the model, not because they’re bad models, it’s just a different way, a different ethos around client service. You mentioned RSUs and corporate employees, I know that’s a niche you have is around concentrated stock positions and equity comp plans. I guess let me ask you two different questions around this. First of all, why that niche? Interested. And then, second of all, do you think a team needs to have a specialization to be competitive these days or do you think it’s okay just to be like, “My job is to be the best advisor and I want to service assets wherever those assets may come from?” Michael Smith: Another great observation. I’m going to address the niche first and foremost. I think, and I talked to R.J. Shook’s staff just recently, and having a niche gives you a specialization and it also accelerates your growth factor. If you serve a niche and you’re very good at that niche, then that word gets around. If you’re a jack of all trades, you can do lots of things but I don’t think you’re focused and you’re not hitting the right numbers that I like to see. And I think that would be my theme is the niche allows you to focus on a very specific type of ideal client, that’s a Schwab thing where you have an ideal client persona and our firm has an ideal client persona. As far as having the equity comp, I absolutely was one of the teams at Merrill Lynch that was equity compensation designated, I managed a couple of plans. My exposure to that, Jason, I haven’t thought about this in a very long time, came from UBS where I had team members that were colleagues that were associated with the Nextel Sprint plan. And I always thought that you’re taking care of the top executives but, really, my background being in the military was how do we take care of the troops, the troops, I call them sailors, and how do we educate those sailors. And one of the things I’ve always said in my entire career in the military and I still say to this day is 50% of every bonus or a promotion or something like that should go to long-term savings. So, I use that same mentality with RSUs, with stock options, with bonuses. Set that aside, let that grow because you’re not used to spending it and you will learn to spend what you make. Jason Diamond: I think that’s a great reason, it’s super smart and I love your explanation, it was a very simplistic way. Honestly, even I hadn’t thought about that around your niche, I think, becomes almost like a force multiplier for your own growth because it’s much easier to become the guy in X, Y, Z vertical than to be the guy in every financial advisor of America, across America. Let me ask you a follow-up question, you mentioned the ideal client persona. I spend a lot of time at our firm thinking about this as well, what does your ideal client persona look like. How do you think about an opportunity though that differs from that persona? So, it’s great. Obviously, everybody, it’s easy, you get somebody who’s your perfect prospect, they walk in the front door, sign me up. But when you get something that’s not down the fairway for you, is it just I evaluate it on a one-off basis or are you super disciplined to that approach because it’s who your firm is? Michael Smith: I truly haven’t given that a whole lot of thought but I will tell you how I would handle that because I am handling it with some one-offs. I like the opportunity because you’re stretching your brain in that you’re thinking about how somebody else is reacting so you’d never know. So, I like it from a learning perspective but I also know it comes with a lot of other baggage, I’ll call it baggage, because, all of a sudden, they want to short the market, they want to go long-short strategies. So, all of a sudden, they’re not in our niche and, all of a sudden, they’re taking a lot of time, they’re draining our time so I think you got to be very careful about what you wish for. And there’s a lot of great advisors out there that will walk circles around these topics that I’m like, “Okay, I would rather refer somebody so they get the right experience than give them the wrong experience.” Jason Diamond: I absolutely love that answer. The bow you just put on it, I think, is the appropriate way in my mind to put a bow. At the end of the day, wouldn’t you rather service somebody more optimally even if you don’t believe it’s yourself, I agree with that. I want to ask you one more point on the client service piece. I was playing around on your website and, on your service model, you have health as a component of the client experience of your diagram. Why do you think health matters in a financial context? Michael Smith: I always believed in a healthy mind and a healthy body will bring so much joy to you and I think health is just part of your persona. If you don’t take care of yourself and your body and your mind, then it doesn’t matter what I do, I think you got to start with health. So, I’m very big on the executive physicals, I routinely require all of our staff to have an annual physical. And, again, they’re young people but you got to have these annual … I live and breathe going to see a doctor every year to do my annual physical, not because I think I’m pretty good health, I still run, I do a lot of things but I think your life starts with being healthy. Jason Diamond: Yeah, it’s refreshing to hear that, no doubt. It’s funny to think about but 2019 is a long time ago now and, in RIA world, I almost think of it like dog years. You’ve been around the block now for a little while so I’m curious how have you seen this space change since you launched in 2019? Michael Smith: In 2019, I didn’t know what I was doing, I could barely get out a wet paper bag but I do think it’s changed dramatically. I would say the biggest thing I’ve seen in just the six and a half, almost seven years is the rise of the mega RIAs and how they’re going to shape the industry. Everyone talked about fee compression at Merrill Lynch. When I was at Merrill, we talked about fee compression, then they talked about robo-advisors and now they’re talking about artificial intelligence replacing advisors, I don’t believe that and I don’t think that’s going to happen in the RIA space. What I see the RIA space maturing is into these very big mega firms as well as these independent RIAs like myself that serve a very niche market where we can walk in our lane. The ability to transact today is so much easier as an RIA than it was at a wirehouse as well because we have instant access to technology. My military background, my Navy background says make a decision right, wrong or different, if you don’t like it afterwards or you get new data, course change. So, in our industry, we can change on a notice. I hired a tech firm last year, I didn’t like the experience nine months into it, guess what, they’re not coming back. So, I can do that but you can’t do that at the bigger firms and even the bigger mega firms would have a hard time navigating a change just like that on a dime. Jason Diamond: You bring up an interesting point. To the extent you face competition, do you find yourself competing more against traditional wirehouse type firms or RIAs like yourself, mega caps RIAs? Are your clients attuned to any of this? Michael Smith: That’s an observation I haven’t thought of either there, Jason. I would say I don’t feel that I have a … I know there’s competition out there but we have a growth issue more than we have anything else so I don’t … I can’t take on the clients that want to become my clients so I’m not competing with people too much. Jason Diamond: A capacity issue, you mean? Michael Smith: Yeah, I have a capacity issue. Jason Diamond: I think you’re not alone in that. How can I even think about competition and the like when … A lot of advisors would probably say that. I want to talk more about the capacity situation but, before I do, let’s talk a little more about the RIA setup. Who do you custody with, remind us, and why or how did you arrive at that decision? Michael Smith: Yeah. So, when I launched, I went with Schwab, Schwab is a phenomenal partner, they helped me get a lot of stuff done, I couldn’t have done it without Schwab. During the pandemic, I realized that I should probably … So, remember, during the pandemic, we had a lot of issues with the banking industry, it was almost like a financial crisis but in a very compressed time. So, during the COVID, I decided to add Fidelity as another custodian so now I have two custodians and I opened accounts on both sides of the house but I like the custodians that are there to help you, they’re very good at what they do. I don’t even consider them a competitor and they aren’t competitors, they have their own branch so I don’t consider them competitors, I think they’re my partners and both Charles Schwab and Fidelity are good partners. Jason Diamond: Yeah, I think that’s the healthy way to look at the custody relationship. That’s a very common approach, I think, is launching with one custodian and then adding a secondary custodian or a tertiary custodian down the line for one reason or another so I appreciate you sharing that because we get those types of nuts and bolts questions a lot so I figured I’d ask you. One last question on the setup and then we’ll shift gears. Has anything been a negative? So, you talked about leaving Mother Merrill behind and, Mother Merrill, we use it facetiously but obviously it implies a degree of comfort and the homeland so I’m curious if you miss anything. Michael Smith: I miss the camaraderie of being with a bunch of other folks. I mentioned this when I first launched, I mentioned it year over year with my team, the one thing that we miss as an RIA and, again, Dynasty has their benefits as well and the mega RIAs have their benefits but, if you’re a true independent like myself, we get to go to conferences that we want to and that’s a timing issue, really, a time constraint. But one thing Merrill and Morgan, JPMorgan, and the other big wirehouses have as well as the megas, they have the ability to put conferences together for their advisors or their administrators and have this education. That’s the one thing that, I think, would evolve in the RIA industry in the future as well. They’re not my competitors, they’re my business colleagues. And if we think of them as competitors, and a lot of people do because I don’t want to share my client information or what I do with my competitor because they may steal them, if you’re that insecure, then you’re probably not the right advisor in the first place. Jason Diamond: I don’t disagree with that. It’s interesting too, I hear two common answers to that question, not about Merrill but just about somebody who’s broken away, what do you miss about the captive firm world. Either on this podcast or just in conversations with advisors, brand comes up a lot and then the point you just raised. I’ll even hear like, “Hey, forget the conferences and the trainings, just being able to have an office where I’ve got eight other advisors on a row for me, it’s a little bit of a different setup than in the independent space,” and I think that’s just a reality of you take the good with the bad. And for other advisors, by the way, one of the things I want to ask you about to this point is do you believe that there are advisors that are just better served in the W2 traditional firm world or do you think that every advisor should be looking at the RIA space? Michael Smith: I think that wirehouse serves a great purpose and- Jason Diamond: Okay, me too. Michael Smith: … there’s a lot of great people that are great advisors in that wirehouse, they need the structure. What I hadn’t alluded to is, and I mentioned this to a former manager from Merrill Lynch of mine just recently, actually, I was like, “I don’t think advisors realize what it takes to run a business.” I’m not trying to sugarcoat it, running an RIA is hard work, it takes a lot of your time day in and day out to run a business as well as taking care of and servicing your clients so I do think the wirehouse venue is the right way to go. And, Jason, I want to go back to one other thing about your identity. I launched as the Smith Group because that’s what I was known at Merrill Lynch. Within three or four months, I changed that name to a firm because I did not want to be associated with it. So, when you’re at one of the wirehouses, you’re known as your team name or something of that sort, I didn’t want to be known as that, I wanted to be known as Emerald Advisors not the Smith Group because, all of a sudden, you have a single point of failure. So, brand identity, it’s not so unique inside the wirehouse because it’s a team name versus Merrill or Morgan Stanley or something like that. Jason Diamond: It’s a good segue because I’ll tell you where my mind goes when you bring that up. My mind goes is you’re smart in a way that you might not even realize or maybe you do realize which is that, if and when it ever comes time to sell this business, it is probably more valuable without your name attached to it or maybe not. But in some way, shape or form, as an RIA, you have an obligation to be thinking about that or it’s probably on your radar, maybe not an obligation. Have you given an ounce of thought to M&A either acquiring businesses, growing in that way or, ultimately, when you succeed out of this business and what the RIA space enables you to do? Michael Smith: To answer that question, yes. Everyone’s thinking about merger and acquisition, I think about succession planning from day one. I actually thought about I’m a big team person, I come from the submarine force where everyone is a key player on a submarine, every single person has a job and responsibility on a nuclear submarine. So, inside the financial services industry, I know Merrill Lynch was very big on teaming, I understand Morgan Stanley is as well because teaming gives them a breadth of responsibility where the responsibilities are shared. So, mergers and acquisitions or selling my business, I think, if you’re not thinking about that … And I’m not thinking about selling my business because that’s a distraction to me. If I needed the money, then I would’ve went to a wirehouse and that’s okay, you monetize your life’s work. Today, I’m all about what’s right for the client, what’s right for my team and what’s right for where I want to be in the next 10 to 20 years. So, I am growing, I do want to grow, I’m looking at opening offices in probably three locations in the next 24 months or so. Jason Diamond: Well, that’s what I was going to say, plenty of advisors I think would say the same, I have a lot of runway. But what about the other side of this equation which is you’ve had tremendous organic growth, you’ve tripled your client base, you’ve more than tripled the asset base, have you thought about acquisition as a mean to jet fuel the inorganic growth side of things? Michael Smith: I have but not in the typical sense that you’re looking at as buying a book of business. I want to partner with like-minded advisors that share that common thread of taking care of clients where you can serve as their trusted counsel and sit in the meetings with their attorneys and sit in the meetings with the accountants and give them sage counsel that you can only do because you’ve been with the family for 20 years. You know this family and that, not always, but I think that’s missed a lot in other firms. Jason Diamond: Yeah, I think that’s fair. I just thought of something else that you brought up. You brought Dynasty so I’m going to ask … I’m going to pull on this thread. That implies to me that you’re at least loosely aware of the supportive independence models that are out there yet you chose a very independent, autonomous path, why? Michael Smith: Because I didn’t know what I was doing. Jason Diamond: Fair. Michael Smith: Let’s be honest, I like Dynasty, I talked with Dynasty when I left. I talked to them all, I talked to Rockefeller, I talked to Morgan, I talked to Dynasty and then, when push came to shove, I wanted to be Mike Smith and launch my own firm and learn. And I will tell you, you learn drinking through a fire hose and we did that, we learned, I know the mistakes. What I didn’t want to do is just go to someplace where this is the stuff you’re going to have to use. So, I think Dynasty is a great launching platform, I think there’s other ones out there that are similar to Dynasty or the Rockefellers or the Morgans, it’s truly what you’re trying to achieve in life. What do you want for you and your clients and I always put my clients before me because I’ve always had this lifelong thing of, you do the right thing, you’re going to get taken care of. Jason Diamond: Yeah. And that’s a very common analysis, by the way, and it’s very common too for big advisors like yourself to say I did my homework across all of those different categories. I looked at the traditional wirehouses and regional firms and boutique firms, I looked at the independent broker dealers, I looked at the support platforms and the aggregators and the roll-ups and here’s ultimately what I landed on and why. Did you always know that though or was that something that it took you a diligence process to figure out? There was plenty of advisors, by the way, who come to us and they’re like, “I knew for the last five years that I was sitting there I was launching an RIA someday.” Michael Smith: Yeah. I did not know that and, to be honest with you, hindsight, I think one of those partners probably could have made me a little bit better at first because then I could have focused on clients versus focusing on, hey, how to open a business, who’s your technology … We talked about custodians and some other things but we didn’t talk about technology, how do you go find that technology. Where’s your email address come from? Who’s your chief compliance officer? When it resides on you, you got to look in the mirror. So, I think those parties out there that provide that for brand-new advisors launching could be very beneficial. I had in my mind what I needed to do and I knew I’m very frugal so mine boiled down to how much money I wanted to spend, to be honest with you. Jason Diamond: I think it is a cost benefit analysis, it is. It’s absolutely … Because if you list the functions of a support platform on paper and you showed it to somebody who didn’t know the industry, they would say, “Why on earth wouldn’t you do this? They’re taking off your plate compliance and tech and custody and the like,” and the answer is because there’s a cost associated with it and plenty of advisors decide what you decide, I wanted … Or I just wanted a greater degree of autonomy and freedom, to your point, the name on the door piece, I wanted this to be mine. Michael Smith: And, Jason, I think it also goes to the uncertainty. I had never done anything since Navy, financial advising and then launching. So, for me, I was launching with four employees I had to take care of and here I was going to hire a third party that I was going to have to spend X amount on and I didn’t even know what my income was going to be. That’s different if you’re a multi-billion dollar FA coming out of a wirehouse, the monetary dynamics are different. Jason Diamond: Agreed. Okay, here’s a good one for you. We get this concept from advisors, from firms, from private equity that a billion dollars in assets is like this magic number in our industry. Do you feel like anything’s changed now that you’re at a billion and what’s the next chapter for Emerald Advisors? Is it just continuing on this steady trajectory and serving clients and trust that everything else comes with that? Michael Smith: I go back and forth on a billion, everyone thinks that’s the right number, the biggest number that you need but I think it’s just an arbitrary numbers because it didn’t define who I was. And a lot of people define success at a billion, they define success that you’re a successful firm at a billion. I think I was a successful firm at 300 million, I was a successful financial advisor with 20 clients in 2005. I would say a billion is a multiplier, what I would tell new advisors out there today is gather assets. The more assets you have, the more revenue you generate. The more revenue you generate, the more money you can put in your pocket which means the longer you can stay in the industry. The problem with the industry is an attrition problem, not anything else. So, assets just give us the ability to have revenue which gives us the ability to grow. Jason Diamond: And is that the plan? Keep adding assets, keep growing one client at a time with the focus though, obviously, on what makes you which is a very client-centric service model. Michael Smith: Correct. There’s a lot of things I want to do in the next couple of years and expanding our footprint is our biggest one with the right partners and then just keep adding. I have a business development officer that I’m probably offer a job to here pretty soon and things are going well. Jason Diamond: Yeah, that’s great. You mentioned the tech stack and the other components of the business and I hear you on the frugal cost-benefit analysis. But who did you turn to for some of those early decisions, was it Schwab primarily who helped hold your hand through that? Michael Smith: Schwab was very good at helping me identify the tech stack at first and the tech stack is actually the one consistent, there’s a lot of things I’ve been consistent on but tech is one that I’ve stayed with them. I launched with RightSize, now they’re Advisory, they’re very good, they do the right job for us and I’m big on cybersecurity. So, tech was helpful from Schwab, Schwab helped us with that. Jason Diamond: So, we spoke a little bit about your naval experience but, I’m curious, can you tell us how has your naval experience shaped your perception or your experience in wealth management? Michael Smith: My Navy path was a lot different than many officers. I served 12 years as an enlisted person before I got my direct commission as a Mustang officer, typically called limited duty officers or loud, dumb and obnoxious as I like to say. But that experience gave me a unique perspective because I was able to be the enlisted side and officer which are the workers and then the management side so I had both experiences which was unique. When I was commissioned, Admiral Jerry Ellis, a submarine admiral that commissioned me, heard this lesson to the podium, he was just talking about me in this point but he said, “There are three kinds of people in every organization. You have rowboat people who need to be pushed, you have sailboat people who move whenever the conditions are favorable and then there’s steamboat people, they move continuously through calm or storm.” And he said, “This is Ensign Michael Smith,” he said, “Make your course.” And that’s always stood with me because you do have those three types of people in life. You got people that are just … They’re robo people, they go until they get tired. You got sailboat people that go wherever the wind blows them and then you got steamboat people that chart their own course. I would say for advisors out there make your course or just be happy with what you’re doing. But for some of us hard chargers, I think that analogy has stayed with me my entire career. Jason Diamond: It’s fantastic. I love the analogy, great naval tie in also. Thanks for sharing that. We got time for one more question. You have a fascinating background, a fascinating path to the industry, obviously, an incredibly disciplined approach around client service, any parting thoughts, words of wisdom especially as it relates to growth? That’s what strikes me most about your story is the growth that your move unlocked and that’s what every advisor who listens to our show is looking for. Michael Smith: I’m going to give another plug to Schwab on this. We actually were fortunate and I got their consulting group to come in right afterwards and I’m a big believer in having offsite. So, I’ve had an offsite, two offsites a year for my team and it’s the entire team unlike the wirehouses where you don’t take your admins and stuff like that. I take my entire team to an offsite and we group up on what we’re trying to achieve and have goals and objectives for the year. Schwab allowed us to use their consultants and we came up with our ideal client persona. Teams or firms that have this model become high performing. When you become high performing, growth becomes the outcome. I couldn’t do anything but grow. Jason, I couldn’t not grow because I had this ideal client persona, I knew how I was going to do it, it was measurable. So, growth becomes the outcome and, if you hold people responsible, then we’re all going to grow together and it’s a fun outcome. Jason Diamond: Fantastic, it’s a great place to end. Thank you so much for sharing your expertise with us, I can’t wait to see what the next chapter holds for Emerald, this has been a lot of fun. Michael Smith: Jason, thank you so much. I appreciate everything you do for the industry as well. 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. From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story A conversation with Jason Diamond and Michael Smith, Managing Partner and Founder of Emerald Advisors.      Jason Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story. It’s a conversation with Michael Smith, managing partner and founder of Emerald Advisors. 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: Growth is often viewed as the result of better marketing, stronger referrals, a larger team and even acquisition and that’s all true yet growth can be the byproduct of something else entirely. For example, Michael Smith built a successful practice at Merrill then, one day, he was told he was spending too much time with his clients, or his management put it over-servicing clients. For Michael, that wasn’t a warning sign about his approach, it was a signal that he might have outgrown the firm and the model. Today, Michael is the founder and managing partner of Emerald Advisors, the independent RIA he launched in late 2019 with roughly 385 million in assets and 85 client relationships. Less than seven years later, the firm has grown to more than a billion in assets while remaining deeply focused on a highly-specialized client base and an unusually hands-on service model. What makes this story particularly interesting isn’t just the growth, it’s the thinking behind it. Michael’s perspective was shaped long before he entered wealth management. After serving more than two decades in the Navy, he brought a leadership philosophy centered on accountability, discipline and what he calls steamboat people, those who keep moving forward regardless of conditions, that mindset continues to influence how he builds his team, serves clients and evaluates opportunities. In this episode, we discuss the decision to leave Merrill, the realities of launching a fully independent RIA, why specialization can accelerate growth, the evolving role of custodians and technology and why he believes exceptional client service remains one of the industry’s most durable competitive advantages. Because Michael’s experience suggests that growth isn’t always the result of finding more opportunities, sometimes it’s the result of creating the freedom to execute the vision you already had so let’s jump in. Michael, thank you so much for joining us today. For starters, can you walk us through your background and what brought you to the world of wealth management? Michael Smith: Jason, thank you so much for the opportunity to be here today, I do listen to the podcast a lot especially before I left Mother Merrill. But my background and how I got into financial services is really distinct because I was on the board of JDRF back in the day and the national sponsor for JDRF was UBS PaineWebber and they’re like, “Mike, why don’t you be a financial advisor?” And my master’s degree was actually a finance and accounting in portfolio management because I’ve managed my own portfolio for years and years and so, when I couldn’t get a job, I just fell into it because I couldn’t get a job and I needed a job. That was 21 years ago, Memorial Day so that’s how I got into this industry. Jason Diamond: It’s a unique background, it’s super interesting and I want to talk more about it. You mentioned Mother Merrill, we’ll certainly get there. Before we do, give us a little bit of context on the current business you operate, Emerald Advisors, any context you can share on size, number of staff, types of clients you serve would be great. Michael Smith: Sure. So, we launched Emerald in 2019, November 2019 with about 85 clients and you always talk about this on the podcast how scared it is to launch and go independent. And I would say we took over about 95% of our clients that we wanted to bring over and today we’re at about 230 clients, I think we have some onboarding right now, we have just over a billion of assets. So, we launched with the 85 clients and around 350, 385 million, now we’re over a billion. Jason Diamond: Good for you. Michael Smith: Thank you. And I launched with four employees and we’re now at 11. And I would give a shout-out to one of my key employees because, when I launched, I actually hired somebody that had no experience with us and that was really a good thing because that allowed that person to really focus on operations and back office stuff while my business partner Emily and I were able to focus on bringing on the clients and alleviating any issues that they may have or thought. Jason Diamond: So, meaning you hired somebody basically immediately upon launch to help you with the transition and with this next chapter? Michael Smith: Correct. I hired them before but they started the day we launched. Jason Diamond: Brilliant, I love it. Oh, let’s definitely talk more about that because I think that’s a great strategy for … You’re right, you said it in a joking manner now because you’re seven years past but it’s a very real fear that advisors have and I think it’s worth talking more about. I want to mention too you have, obviously, built this business and grown this business dramatically. I don’t want to make this episode about the pandemic but you moved the business at a, certainly, a unique time. Did it impact your growth at all? Did you feel like you hit a brick wall? Just curious about your thoughts. Michael Smith: No, Jason, that’s a great observation. I would venture to say that the pandemic was actually a good thing for us. Jason Diamond: Interesting. Michael Smith: And I say that because, all of a sudden, you could hit pause because everyone was relearning how to do business, how do we do client reviews, how do we communicate with clients in a environment. So, I think the pandemic allowed us to just really reset our expectations visiting with clients because I used to fly a lot because I have clients in 38 different states so this has actually been, not just good for me, but good for the industry because I think it’s reset our expectations that we don’t have to be every day with a client facing. Jason Diamond: I agree with that largely and it’s true of our business too, by the way, it’s certainly reshaped the way people expect to be communicated with. I think Zoom has become much more mainstream, phone calls and we’ve heard from many other advisors who say something similar. I was just curious because you moved so close to or if there was an impact but I get, honestly, I think you’re right, it allowed you to have this nice natural inflection point and almost like flipping a switch of a clean slate. Michael Smith: It allowed us to learn the processes too. So, we launched in November 1st, by March we were in lockdown and so it gave us the opportunity to take several months of just learning the processes of how to be an RIA, it was pretty good. Jason Diamond: Absolutely. So, one of the things you mentioned in that was the way in which you serve clients and I’d read something funny and I think it was around the time of your move. You were talking about that, Merrill, you had a manager who spoke about that you would overserve your clients, you serve clients too much, tell me about that. Michael Smith: That was such an interesting topic because I got called down to the ops officer’s office and they’re like, “Ugh, Mike.” And it brought my admin down with me and they’re like, “Mike, these reports that you’re taking care of your clients too much,” and I’m like, “What do you mean?” “Well, you’re overservicing them.” Jason, I literally had to go back and Google the word overservicing because I was like, “How do you overservice the client? I’m not making their bed.” It was just so funny to me that I got counsel for overservicing clients when we’re in a client-facing job and I think that was part of the catalyst. Jason Diamond: Tell me more about what they meant, you think. Michael Smith: Hindsight, I think they … I like to take care of people which means I’m very intuitive towards taxes, I understand how the tax code works, I understand how everything impacts their bottom line. So, when we’re doing deferred comp enrollments or 401(k) enrollments or I’m a big believer in Roth 401(k)s and backdoor Roths and I’ve been doing them for years, I think what Mother Merrill wanted at that time was us not to do that. And, again, nothing against Merrill, I get it but this is how they wanted us to act and I wasn’t in that mold, I was taking care of clients to a much deeper depth is how I would say it. Jason Diamond: And I think that speaks to you outgrew the model not necessarily the firm. I think Merrill does a lot of things really well, you would agree with that, I think given that you built 85 clients and 350 million in assets is nothing to sneeze at. But the model that it seems like you value client service and an integrated client service experience of that and the wirehouse model oftentimes doesn’t put a premium on that. Tell me about your ethos or your thoughts around client service today and what being independent enables you to do. Michael Smith: So, that’s an interesting observation because one of my clients actually just mentioned to me that the reason we’re growing so much is because of our service model and the fact that we deliver a tremendous amount of value over just portfolio management. I said my managers is in portfolio management, I don’t do that any longer, I have a staff that handles that for me but it’s really the servicing of the clients because they don’t know what we know and I think servicing the client is the most important thing that we can do today. Jason Diamond: Give me some examples of what you mean by servicing the client in a more holistic way. I agree with you, by the way, portfolio management, table stakes, financial planning, table stakes, tell me more about what you mean. Michael Smith: By that I mean we do a quarterly review on tax. So, a lot of people don’t understand how taxes work and how estimated taxes work. So, estimated taxes are January 1st to March 31st, January 1st to May 31st, January 1st to August 31st, that’s how you do your estimated tax payments, you figure out what that is. And for compensated employees where they have RSUs that come in at different times of the year or different grants or exercise their options at a different time, that can affect their estimated tax liability and I’m not big on giving Uncle Sam any more money than they have to have until they need it. And then everyone doesn’t understand how the penalties and interest works on the IRS. And I’m big on the tax payments because that’s where we can add a lot of value for not a lot of time and we integrate it with our portfolio so we know what we’re doing with our gains. And I happen to reside in Washington State which has a long-term capital gains tax rate once you surpass about 270,000 of long-term capital gains. So, it’s super important for us to be aware of this and that’s how we service them. We also help them with their rebalancing of their 401(k)s, things that wirehouses cannot supposed to do, we are not supposed to be helping them with some of their aspects of life. Jason Diamond: Yup. That’s what I was alluding to earlier, it’s limitations on the model, not because they’re bad models, it’s just a different way, a different ethos around client service. You mentioned RSUs and corporate employees, I know that’s a niche you have is around concentrated stock positions and equity comp plans. I guess let me ask you two different questions around this. First of all, why that niche? Interested. And then, second of all, do you think

In Part 6 of Exposing the Matrix, we examine what may be the most powerful control system ever created: education. From the creation of the U.S. Office of Education in 1871 to the influence of Rockefeller-funded institutions, we trace the transformation of American schools from locally rooted, community-centered education to a highly standardized system increasingly shaped by bureaucracies, universities, and ideological movements. We explore revisionist history, declining literacy, the erosion of critical thinking, behavioral conditioning, university radicalization, psychological labeling, dependency on institutions, the removal of biblical foundations, and the rise of social engineering. Most importantly, we examine what Scripture says about guarding the mind and why Colossians 2:8 remains one of the most relevant warnings for our time. If the battle for the future is ultimately a battle for the minds of children, then this conversation is one every parent, pastor, teacher, and believer needs to hear.Email: thefacthunter@mail.comFoundations In Faith: https://www.foundationsinfaith.netMadalyn Murray O'Hair: https://en.wikipedia.org/wiki/Madalyn_Murray_O%27Hair

Executive Summary In the third and final episode of the Prosperity Podcast's retirement series, Kim Butler and Spencer Shaw arrive at the topic most people want to start with: portfolio allocation. But three episodes in, the foundation is in place, and the numbers hit differently. Kim opens by explaining why the typical 60/40 stocks-to-bonds split is far more dangerous than most investors realize, and why the math behind it rarely matches the projections people are shown. The core problem is a triple drag: taxes, fees, and opportunity cost. Every dollar paid in taxes or fees does not just leave the portfolio. It removes that dollar's future compounding power for the life of the investment. Kim illustrates with a stark example run through Todd Langford's TruthConcepts calculators: a $2 million portfolio projected to grow to $14 million can, under the weight of taxes, fees, automatic rebalancing costs, and forced withdrawals during market downturns, shrink to less than $1 million in real outcome. The numbers were so surprising that Todd ran them twice on separate tools before Kim felt comfortable sharing them. The solution Kim presents is replacing the bond allocation, typically 40%, with whole life insurance cash value. In the analysis, doing so kept the overall portfolio close to its $14 million potential. Whole life cash value carries no market volatility, no tax drag, and does not create forced selling during downturns. Combined with a cash flow bridge, a separate liquid position you can draw from when markets are down, this structure prevents paper losses from becoming actual losses. The episode closes with a brief overview of two whole life strategies: the Infinite Banking Concept and the Rockefeller approach, and an open invitation to reach out to Kim directly at hello@prosperitythinkers.com for personalized guidance. Links & Resources Mentioned For resources and additional information of this episode go toEmpower Your Finances With Our Prosperity Podcast Empowering Parents, Nurturing Futures - Prosperity Parents Kim D. H. Butler Keywords 60/40 portfolio problems, portfolio allocation retirement, whole life insurance cash value, bond alternative investment, cash flow bridge retirement, opportunity cost investing, taxes fees retirement portfolio, infinite banking concept, Rockefeller approach life insurance, retirement portfolio strategy, prosperity thinkers, financial freedom, stock market volatility retirement, automatic rebalancing cost, TruthConcepts calculators, replace bonds whole life, wealth preservation, financial education, prosperity economics, retirement investment strategy Episode Highlights [00:00:00 - 00:01:49] Spencer frames part three and Kim explains why jumping to investments first skips the essential foundation. [00:01:49 - 00:03:14] Kim introduces the 60/40 stock-to-bond split and the common assumption that a 12% market return makes a 4% withdrawal risk-free. [00:03:14 - 00:04:47] Kim explains automatic rebalancing: how resetting from 65/35 back to 60/40 creates taxable events and fees every cycle. [00:04:47 - 00:05:52] The triple drag: taxes, fees, and opportunity cost. Every dollar paid out removes its future compounding power permanently. [00:05:52 - 00:06:53] The $2M to $14M to under $1M example. Kim introduces the finding that replacing bonds with whole life cash value recovers the $14M outcome. [00:06:53 - 00:07:31] Todd's verification process: HP 12C and TruthConcepts run in parallel to confirm the result before publication. [00:07:31 - 00:08:12] Who should be looking at this now: 30s, 40s, and 50s. Not 65. Though 65 is not too late. [00:08:12 - 00:09:35] The cash flow bridge: a non-correlated cash position that prevents selling a down portfolio and turning paper losses into actual losses. [00:09:35 - 00:11:12] Spencer's observation: bonds and typical retirement planning both produce slow attrition. Kim names whole life insurance cash value as the alternative vehicle. [00:11:12 - 00:13:41] Two whole life approaches: Infinite Banking (high cash value, low death benefit) vs. Rockefeller method (high death benefit). Kim invites personalized email conversations. [00:13:41 - 00:14:32] Spencer wraps the three-part series: control is returned to the listener. Retirement as a concept is reframed. Subscribe CTA.  

As America approaches its 250th anniversary of independence, powerful forces including Rockefellers and others are working on a comprehensive plan to fundamentally transform America and “Refound” it, explained researcher and writer Lisa Logan in this interview on Conversations That Matter with The New American magazine’s Alex Newman. This refounding agenda involves a “color revolution” organized ... The post At 250, Rockefellers & Co. Work to “Refound” America With “Color Revolution” appeared first on The New American.

The Nobel family (which are the namesake of the Nobel prize), had a rags-to-riches story bigger than the Rockefellers or Morgans. The Nobel patriarch Emanuel fled debtor’s prison in 1837. He then travelled east and built a foundation for the largest oil empire in Russian history. Three generations of Nobels invented the world's first oil tanker, stopped the Royal Navy cold with undersea mines during the Crimean War, and outmaneuvered both Rockefeller and the Rothschilds in the world's first great corporate oil war. Then the Bolsheviks arrived. Lenin nationalized everything overnight, Stalin personally targeted the family patriarch for arrest, and the man who quietly made the Nobel Prize a reality had to escape revolutionary Russia in a horse-drawn cart wearing a disguise, with forged papers and three borrowed children to complete the ruse. It is one of the great lost stories of the nineteenth and twentieth centuries, overshadowing the very prizes that bear the family name. Today's guest is Douglas Brunt, author of The Lost Empire of Emanuel Nobel. We discuss how capitalism and Marxism grew up in the same Russian cities before their catastrophic collision, why Emanuel Nobel defied the King of Sweden to ensure his uncle Alfred's will was honored, and what it actually looked like when Lenin's pen stroke erased three generations of Nobel engineering genius in a single day. We explore this story of oil, revolution, and a dynasty that fueled the world and then vanished.See omnystudio.com/listener for privacy information.

The Nurses Report on America Out Loud with Gail Macrae, BSN, RN – We spend more on healthcare than any nation on earth, yet longevity stagnates or declines. This paradox traces directly back to decisions made in the early 1900s. Autism rates have risen from 1 in 50 children in 2000 to roughly 1 in 31 by 2022. Alzheimer's among those over 65 has climbed from about 10% to over 15%...

Walter Sterling sounds off on the first major COVID whistleblower hearings, raising questions about Dr. Fauci, gain-of-function research, the Wuhan lab, vaccine fallout, long COVID symptoms, censorship, school damage, and what he calls one of the biggest con jobs in modern history. Walter also dives into UFO disclosures, Ross Coulthart's reporting, Area 51, government secrecy, and why the public may finally be getting closer to the truth. Plus, Walter explores pyramid power, Nikola Tesla, ether energy, Tartaria, bricked-up windows in historic buildings, Rockefeller, Westinghouse, Edison, free energy theories, and how powerful interests may have buried technology that could have changed the world. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nurses Report on America Out Loud with Gail Macrae, BSN, RN – We spend more on healthcare than any nation on earth, yet longevity stagnates or declines. This paradox traces directly back to decisions made in the early 1900s. Autism rates have risen from 1 in 50 children in 2000 to roughly 1 in 31 by 2022. Alzheimer's among those over 65 has climbed from about 10% to over 15%...

Allie was joined by Megan Basham, culture reporter for the Daily Wire, to discuss her investigation into the After Party, a curriculum written by Curtis Chang, David French, and Russell Moore, which is being pushed onto churches in an effort to bring Christians of different political backgrounds together. Megan shares how this curriculum not only fails at its objective but is funded by secular progressives: Rockefeller Philanthropy Advisors. We discuss why Rockefeller's interest in bankrolling Bible studies is a red flag, including the fact that among the other initiatives funded are organizations that are pro-LGBTQ and pro-abortion. What's in the After Party curriculum and what message is it really sending? We also look at the "AND Campaign" and how it is also funded by the Rockefellers. We explain how politics is a way to love our neighbor and why getting it right matters for the church. --- Timecodes: (01:12) What is The After Party? / Rockefeller funding (07:50) What are their motivations? (15:00) What's in the curriculum? (32:28) The AND Campaign / moral equivalence (42:53) X / Twitter exchange about abortion / politics in Christianity (49:20) Can Christians vote Democrat? Links: Megan Basham: "Follow the Money to The After Party" https://www.firstthings.com/web-exclusives/2024/01/follow-the-money-to-the-after-party --- Relevant Episodes: Ep 607 | John MacArthur, Hillsong Documentary & SBC Drama | Guest: Megan Basham https://podcasts.apple.com/us/podcast/ep-607-john-macarthur-hillsong-documentary-sbc-drama/id1359249098?i=1000558899144 Ep 920 | Russell Moore, David French & the Fake Threat of Christian Nationalism | Guest: John Cooper https://podcasts.apple.com/us/podcast/ep-920-russell-moore-david-french-the-fake-threat/id1359249098?i=1000638231068 Ep 508 | My Response to John Piper, Tim Keller & Big Eva https://podcasts.apple.com/us/podcast/ep-508-my-response-to-john-piper-tim-keller-big-eva/id1359249098?i=1000539092606 Share the Arrows 2026 is on October 10 in Dallas, Texas! Tickets are on sale now at: ⁠⁠⁠⁠⁠⁠https://sharethearrows.com⁠⁠⁠Share the Arrows is sponsored by:A'del Natural Cosmetics: AdelNaturalCosmetics.comRange Leather: RangeLeather.com/ALLIEWe Heart Nutrition: WeHeartNutrition.comBuy Allie's book "Toxic Empathy: How Progressives Exploit Christian Compassion": ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.toxicempathy.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ---► Buy Allie's book, "You're Not Enough (& That's Okay): Escaping the Toxic Culture of Self-Love": https://alliebethstuckey.com/book► Subscribe to the podcast:iTunes: https://apple.co/2UVssnPSpotify: https://spoti.fi/2FwkXxj► Connect with Allie on Social Media: https://twitter.com/conservmillenhttps://www.instagram.com/alliebstuckey/https://facebook.com/allieBlazeTV/► Relatable merchandise – use promo code 'ALLIE10' for a discount: https://shop.blazemedia.com/collections/allie-stuckey

Peter A Kirby was one of the first researchers to blow the whistle on chemtrails. He explains to James WHO is behind the spraying of our skies with toxic metals like Aluminium and Barium, HOW They control the weather, and the myriad evil reasons WHY They are doing it. At the end of this episode you will love the Rockefellers even less than you did before. Kirby's latest book is Chemtrails Exposed: A New Manhattan Project. His website is https://peterakirby.com ↓ ↓ ↓ If you need silver and gold bullion - and who wouldn't in these dark times? - then the place to go is The Pure Gold Company. Either they can deliver worldwide to your door - or store it for you in vaults in London and Zurich. You even use it for your pension. Cash out of gold whenever you like: liquidate within 24 hours. https://bit.ly/James-Delingpole-Gold ↓ ↓ How environmentalists are killing the planet, destroying the economy and stealing your children's future. In Watermelons, an updated edition of his ground-breaking 2011 book, JD tells the shocking true story of how a handful of political activists, green campaigners, voodoo scientists and psychopathic billionaires teamed up to invent a fake crisis called ‘global warming'. This updated edition includes two new chapters which, like a geo-engineered flood, pour cold water on some of the original's sunny optimism and provide new insights into the diabolical nature of the climate alarmists' sinister master plan. Purchase Watermelons by James Delingpole here: https://jamesdelingpole.co.uk/Shop/ ↓ ↓ ↓ Buy James a Coffee at: https://www.buymeacoffee.com/jamesdelingpole The official website of James Delingpole: https://jamesdelingpole.co.uk x

This episode originally aired on July 5, 2025. From Apple News In Conversation: Americans have a long history of obsession with the ultrarich, from Carnegie and Rockefeller to Bezos and Musk. And today, the gap between the rich and the poor is bigger than ever as the billionaire class has ascended to new heights. In his book, The Haves and Have-Yachts, New Yorker staff writer Evan Osnos explores the extravagant lifestyles of the wealthy and their outsize influence on politics. He sat down with Apple News In Conversation host Shumita Basu to talk about this unique moment — when billionaires are both resented and envied by the public — and what it means for the rest of us.

What if the biggest culture war in America wasn't a grassroots revolution at all… but a system designed to keep ordinary people divided while the people at the top quietly consolidated more power than ever before? In this episode of Keeping It Real, Jillian dives into the hidden history behind modern DEI, identity politics, Cold War influence operations, and the institutional networks that shaped today's corporate and academic culture. From declassified CIA programs and Senate investigations to the Ford, Rockefeller, and Carnegie foundations, this is the hidden history of modern DEI. This episode follows the paper trail through the Cold War, the CIA's “Mighty Wurlitzer” propaganda network, McGeorge Bundy, the Ford Foundation, and the rise of the Black Panthers — whose free breakfast programs, health clinics, and cross-racial Rainbow Coalition threatened to unite working people around class and economic power. J Edgar Hoover and the FBI actually went after Fred Hampton because message wasn't Black vs. white. It was poor people vs. concentrated power. And according to Hoover that was more dangerous than riots and civil unrest. From the Congress for Cultural Freedom and foundation-funded activism to the rise of corporate HR culture and modern diversity bureaucracy, this episode explores how class-based populism may have been replaced by institutionalized identity management designed to absorb outrage without ever threatening the underlying power structure. You'll hear about: The CIA's “Mighty Wurlitzer” influence network Declassified Cold War psychological operations The Ford, Rockefeller, and Carnegie foundations connection to intelligence agencies How J Edgar Hoover's FBI went after the Black Panther Party and Fred Hampton's Rainbow Coalition Why cross-racial working-class solidarity terrified elites The Congress for Cultural Freedom and “managed dissent” How DEI became embedded in universities and corporations Why corporate activism exploded while inequality worsened The psychological mechanics of division and outrage politics How media, bureaucracy, and identity conflict distracts from corruption and economic power #DEI #CIA #FordFoundation 00:00 INTRO 00:48 DEI Was Started By The CIA 01:47 Ford Foundation & The CIA 02:51 The Mighty Wurlitzer: Engineering "Organic" Propaganda 03:56 Funding the "Housebroken" Left 06:06 Laundering Ideology Through Foundations (Ford, Rockefeller, Carnegie) 07:28 John J. McCloy and the CIA-Ford Foundation Merger 08:29 How Massive Endowments Provide Cover for Black Budgets 10:11 The "Long Leash": Seducing Intellectuals Over Defeating Them 12:38 Dummy Foundations 14:04 Thomas Braden: Controlling American Radicals 15:55 Case Study: Infiltrating the Labor Movement and Churches 17:02 The Hypocrisy of Institutional Leaders 18:47 McGeorge Bundy and the Strategy of Social Stability 20:06 Black Panters Fred Hampton and the Threat of the Rainbow Coalition 23:28 Unity is the Danger: Replacing Populism with Grants 26:34 Carnegie's Capture of Universities 29:44 Self-Reproducing Ideology in the Corporate Workplace 31:38 Interpersonal Conflict as a Substitute for Accountability 34:01 Divide, Conquer, and the Path to Solidarity Shopify: Launch your dream business with Shopify. Sign up for your $1/month trial at https://Shopify.com/Jillian and start selling today! Superpower: Stop guessing about your health—get $20 off Superpower at https://superpower.com/JILLIAN with code JILLIAN Fox One: Sign up at https://fox.com to watch Keeping It Real and more on-demand with FOX One. Learn more about your ad choices. Visit megaphone.fm/adchoices