Épisodes

  • The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 – Best of Replay

    The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 – Best of Replay
    Jul 2 2026
    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 diligenceTraditional vs. emerging drivers of advisor movementArtificial intelligence in wealth managementEnterprise value and advisor ownershipRecruiting deals versus long-term economicsReverse due diligenceFirm ownership and stabilityPrivate equity in wealth managementAdvisor optionalityBuilding 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. ...
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    50 min
  • Build, Grow & Transact: Americana’s $12B Path from Breakaway to Enterprise

    Build, Grow & Transact: Americana’s $12B Path from Breakaway to Enterprise
    Jun 25 2026
    Jason Fertitta – CEO & Partner, Americana Partners Jason Fertitta shares how Americana Partners grew from a $2.6B breakaway team to a $13B+ enterprise by focusing on ownership, enterprise value, strategic acquisitions, and long-term growth. In Summary Many advisors view independence as the ultimate objective: a chance to gain control, improve economics, and build a business on their own terms. For Jason Fertitta, independence was only the beginning. Louis Diamond speaks with the CEO and Founding Partner of Americana Partners about the firm’s evolution from a $2.6 billion breakaway team in 2019 to a national enterprise managing more than $13 billion today. The conversation explores the decisions that fueled that growth, the mindset required to build long-term enterprise value, and why Jason believes advisors should evaluate success through the lens of net worth rather than annual income. Along the way, they discuss recruiting, acquisitions, private equity, professional management, and the tradeoffs that come with building something intended to outlast its founders. The Storyline The independent channel has matured. A decade ago, many advisors pursued independence primarily for greater autonomy, higher payouts, and control over the client experience. Today, a growing number are approaching the decision differently—viewing independence as a platform for building enterprise value, attracting capital, completing acquisitions, and creating businesses that can scale beyond the founders themselves. Jason Fertitta’s journey reflects that evolution. When he and his partners left Morgan Stanley in 2019, Americana launched with approximately $2.6B in client assets and a vision to build a nationally recognized wealth management firm. Seven years later, the firm oversees more than $13B, employs roughly 100 people, operates across multiple markets, has completed several acquisitions, and brought on Lovell Minnick Partners as its first institutional investor. Throughout the conversation, Jason offers a transparent look at the realities of enterprise building. That includes reinvesting profits rather than maximizing income, hiring professional management long before it feels necessary, embracing acquisitions as a growth strategy, and making decisions based on long-term value creation rather than short-term economics. For advisors considering what comes after independence, the episode provides a practical framework for thinking about ownership, scale, capital, and the future value of their business. About the Build, Grow & Transact Series for Advisors Build, Grow & Transact explores what happens after independence. The series features advisors and firm leaders who viewed independence not as a destination, but as the foundation for building something larger. Some launched firms from scratch. Others scaled through recruiting, acquisitions, or strategic partnerships. Many eventually faced decisions around capital, ownership, succession, or liquidity. While every story is different, they share a common thread: a willingness to think beyond the transition itself and focus on creating long-term enterprise value. Through candid conversations with founders, builders, and industry leaders, the series examines the decisions, tradeoffs, and lessons that come with growing an advisory business into an enduring enterprise. For advisors contemplating independence, actively building a firm, or considering what comes next, Build, Grow & Transact offers a look at the paths others have taken—and what they’ve learned along the way. > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why did Americana grow from $2.6 billion to more than $13 billion? (06:16)Jason explains how a combination of organic growth, advisor recruiting, acquisitions, and long-term strategic planning helped accelerate the firm’s expansion. Why do clients often do more business with independent advisors? (12:17)Jason shares his perspective on why clients frequently deepen relationships after an advisor leaves a wirehouse environment. What role have alternatives played in Americana’s growth strategy? (14:40)The discussion explores how differentiated investment access can help advisors stand apart in an increasingly commoditized marketplace. When is it time to build a professional management team? (18:36)Jason explains why Americana invested heavily in leadership, operations, and infrastructure from the very beginning. Why did Americana bring in private equity capital? (25:16)A candid discussion about growth capital, M&A opportunities, and the decision to partner with Lovell Minnick Partners. How do you evaluate enterprise value versus annual income? (20:16)Jason offers one of the episode’s most important lessons: building wealth through ownership can look very different than maximizing current compensation. What makes a successful acquisition target? (39:51)Jason outlines how Americana evaluates M&A opportunities and how...
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    52 min
  • From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story

    From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story
    Jun 18 2026
    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 independenceClient service as a growth driverBuilding an RIARIA growth and scalabilityOrganic growth strategiesConcentrated stock positions and equity compensation planningIdeal client personas and niche specializationSchwab and Fidelity custody relationshipsAdvisor succession and enterprise valueNavy leadership principles in wealth managementThe rise of mega RIAsAdvisor 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, ...
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    36 min
  • Architecting 100x Growth: A “How-To” From Legends Dan Sullivan and John Bowen

    Architecting 100x Growth: A “How-To” From Legends Dan Sullivan and John Bowen
    Jun 11 2026
    With the Co-Authors of The Greater Game and Dan Sullivan of Strategic Coach and John Bowen of CEG Insights Louis Diamond speaks with Dan Sullivan of Strategic Coach® and John Bowen of CEG Insights about founder dependency, enterprise value, and the architecture behind scalable businesses. In Summary Many advisory firms grow successfully while remaining highly dependent on their founders. Dan Sullivan and John Bowen argue that the difference between a successful practice and a valuable enterprise comes down to architecture. Louis sits down with the co-authors of The Greater Game to discuss founder dependency, enterprise value, intellectual property, and why some businesses scale beyond their owners while others do not. The conversation offers advisors a framework for thinking differently about growth, succession, and long-term optionality. The Storyline Many advisors spend their careers helping clients build valuable businesses. Far fewer stop to ask whether their own firms are being built the same way. That tension sits at the center of Louis Diamond’s conversation with Dan Sullivan, co-founder of Strategic Coach®, and John Bowen, founder of CEG Elevate Group and CEG Insights. Their new book, The Greater Game, challenges a common assumption about growth: that bigger businesses are simply the result of working harder, adding more clients, or improving existing systems. Instead, they argue that enterprise value is created through architecture—the deliberate design of a business that can scale, transfer, and thrive without its founder at the center. The discussion introduces a framework for understanding why some entrepreneurs remain trapped in optimization while others build enterprises that compound in value over time. Along the way, Dan and John explore founder dependency, intellectual property, succession planning, strategic partnerships, and the role advisors can play in helping entrepreneurial clients navigate each stage of growth. For advisors, the framework creates an important mirror. The same forces that limit enterprise value for entrepreneurial clients often exist inside advisory firms themselves. The result is a conversation that extends well beyond business growth and into questions of optionality, transferability, and what ultimately makes a firm valuable. Topics Covered Enterprise Value CreationFounder Dependency RiskBusiness Architecture vs. OptimizationIntellectual Property & ScalabilityStrategic Partnerships & LeverageSuccession Planning & OptionalityLegacy, Impact & the “Greater Game” Mindset > Download a transcript of this episode… Listen and Learn Highlights for Advisors What is The Greater Game—and why does it matter to advisors? (17:57) Dan and John introduce the framework behind their new book and explain why advisors should think about it both for entrepreneurial clients and for their own businesses. Why do only a small percentage of entrepreneurs create exponential enterprise value? (22:24) The discussion explores the difference between “architects” and “optimizers” and why most business owners remain focused on improving what exists rather than designing what comes next. Why is founder dependency such a significant valuation risk? (35:00) John explains how businesses that depend on a single individual often struggle to scale, transfer, or command premium valuations. How does expertise become intellectual property—and why does that matter? (35:00) The transition from expertise to transferable systems may be the most important bridge in the entire framework, creating leverage that extends beyond the founder. What prevents many advisors from fully serving entrepreneurial clients? (18:00) The conversation examines why most advisors are well-equipped for traditional planning needs but less prepared for the governance, succession, and enterprise-value challenges entrepreneurs eventually face. What does the next game look like after you’ve already “won”? (50:00) Dan and John discuss why many successful entrepreneurs and advisors eventually shift their focus from accumulation to significance, impact, and legacy. What’s the single most important move an entrepreneur can make? (52:30) Dan shares the concept of Unique Ability® and explains why simplifying around your highest-value strengths often creates the greatest multiplier effect. Key Takeaways Enterprise value is created through architecture, not effort. Many successful businesses continue to grow while remaining highly dependent on their founders. The firms that command premium valuations are often built differently from the start. Founder dependency acts as a hidden valuation discount. The more a business depends on one person, the more difficult it becomes to scale, transfer, or sell at a premium. Intellectual property is often the bridge between a practice and an enterprise. When expertise becomes codified, transferable, and repeatable, value begins to exist independently of the founder. Advisors...
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    59 min
  • True Alignment: Advising Business Owners on Wealth, Significance, and Value

    True Alignment: Advising Business Owners on Wealth, Significance, and Value
    Jun 4 2026
    With Nick Hubert and Taylor Gentry—Founding Partners, Panoramic Capital Partners Jason Diamond speaks with Nick Hubert and Taylor Gentry of Panoramic Capital Partners about helping business owners align personal significance, wealth, and business value through a long-term advisory framework. In Summary Many advisors who work with business owners focus on managing wealth after it is created. Nick Hubert and Taylor Gentry argue that the greater opportunity is helping clients create, preserve, and align value long before a liquidity event occurs. In their conversation with Jason Diamond, the founders of Panoramic Capital Partners discuss how concepts borrowed from private equity – including accountability, reporting, capital allocation, and long-term planning – can help advisors become more valuable partners to entrepreneurs. The result is a different framework for advising business owners: one that places personal significance, personal wealth, and business value on equal footing and measures success over decades rather than by transactions. The Storyline Most business owners spend years aligning their companies around a mission, strategy, and long-term objective. Far fewer spend the same amount of time aligning their business, wealth, and personal lives around a common destination. Nick Hubert and Taylor Gentry believe that true alignment begins when business owners stop viewing those decisions separately. As founding partners of Panoramic Capital Partners, they have built a firm designed to engage earlier in the entrepreneurial journey. Their framework centers on helping business owners define a “north star” that balances three interconnected dimensions: personal significance, personal wealth, and business value. The conversation explores how that framework evolved from Taylor’s experience in private equity and Nick’s background in consulting and wealth management. Rather than viewing private equity solely as a source of capital or a transaction event, they examine what advisors can learn from the systems, reporting structures, and accountability mechanisms that private equity firms use to create value over time. Jason and his guests discuss why many business owners struggle to connect financial, operational, and personal objectives; how advisors can serve as a true personal CFO; and why alignment often matters more than maximizing the next transaction. The discussion also turns inward, examining how the same principles influence Panoramic’s own growth decisions, their views on acquisitions and private equity investment within RIAs, and what the industry must do to attract the next generation of advisory talent. > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why do many business-owner relationships begin too late? (13:10)Nick explains why focusing primarily on liquidity events can create misaligned incentives and why advisors may add greater value by engaging earlier in the wealth-creation process. What does Panoramic mean by a “north star” framework? (16:40)Taylor outlines the firm’s approach to aligning personal significance, personal wealth, and business value into a unified planning and decision-making framework. How can advisors apply private equity thinking without becoming private equity investors? (18:11)Taylor describes how institutional reporting, accountability, and value-creation systems can help business owners improve outcomes regardless of whether a transaction ever occurs. Why did one client walk away from a successful deal? (19:45)Nick shares the story of a business owner who discovered that selling the company would solve the wrong problem and why redefining success led to a better outcome. Is private equity misunderstood by many business owners? (26:26)The conversation explores how private equity often functions as a “black box” and why advisors can help clients evaluate opportunities more objectively. How does Panoramic structure its pricing to reduce conflicts of interest? (30:52)Nick discusses the firm’s effort to align compensation with client outcomes rather than asset gathering alone. Should RIAs pursue acquisitions and private equity capital? (32:20)Taylor and Nick explain how they evaluate growth opportunities through the same long-term framework they use with clients. What role will AI play in the future of advisory firms? (40:14)The discussion focuses on balancing efficiency gains and enhanced client experiences with the responsibility to protect client trust and security. Topics Covered Business-owner advisory modelsPersonal significance, wealth, and valueEntrepreneurial wealth creationPrivate equity frameworksBusiness value growth strategiesCapital allocation decisionsRIA business buildingAdvisor compensation alignmentArtificial intelligence in wealth managementNext generation advisor talent Key Takeaways Many advisors focus on the liquidity event, while business owners often need guidance throughout the ...
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    50 min
  • The Advisor Transition Playbook: Inside Baseball on Due Diligence, the Move, and Everything In Between – Best of Replay

    The Advisor Transition Playbook: Inside Baseball on Due Diligence, the Move, and Everything In Between – Best of Replay
    May 28 2026
    A Special Industry Update with Jason Diamond and Mindy Diamond A replay of part one of a two-part series, Jason and Mindy Diamond unpack the real advisor transition playbook—from due diligence and culture fit to portability, enterprise value, and the evolving landscape of advisor choice. In Summary Why do advisors really consider changing firms or models—and what separates thoughtful due diligence from reactive decision-making? In a replay of the first of this special two-part Industry Update, Jason and Mindy Diamond unpack what actually drives advisor transitions, the misconceptions that derail decision-making, and the questions sophisticated teams should be asking long before they’re ready to act. The conversation also explores how the industry landscape has evolved around independence, portability, enterprise value, and advisor optionality—drawing context from Diamond’s role in the landmark OpenArc breakaway from Merrill and much more. The Storyline Most advisors assume transitions are primarily driven by recruiting economics. Jason Diamond and Mindy Diamond suggest that recruiting economics may get the headlines, but advisor transitions are usually driven by a far more layered set of considerations. What tends to happen instead is more gradual: a growing disconnect between how advisors want to serve clients and the constraints of the environment around them. Sometimes it’s bureaucracy. Sometimes it’s limitations around growth, marketing, technology, or flexibility. Sometimes it’s simply the realization that the industry landscape has evolved while their assumptions about it have not. This conversation examines what actually happens between the moment curiosity begins and the moment a move becomes real. Rather than treating transitions as transactional events, Jason and Mindy frame due diligence as a strategic process of self-assessment—clarifying what matters, identifying trade-offs, evaluating long-term optionality, and pressure-testing assumptions before making consequential decisions. The discussion also offers a rare look inside the mechanics of advisor movement itself: how teams evaluate culture, how portability is assessed, why some advisors choose ownership over upfront monetization, and what sophisticated client communication really looks like during a transition. The backdrop throughout the episode is Diamond’s role in facilitating the historic OpenArc breakaway from Merrill—a move that challenged longstanding assumptions about scale, independence, and what even the industry’s largest teams are now willing to reconsider. Topics Covered Advisor transition due diligenceWirehouse limitations and advisor frustrationIndependence versus traditional firm modelsEnterprise value and long-term ownershipAdvisor portability and client transition strategyBoutique and regional firm recruiting trendsCulture evaluation during due diligenceReverse due diligence and evaluating firm stabilityTransition economics and recruiting dealsThe OpenArc Merrill breakaway storyAdvisor optionality and industry evolutionHow technology and AI are changing transitions > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why do advisors actually decide to leave firms? (06:20) Mindy explains why most transitions are driven less by economics and more—by mounting limitations around growth, flexibility, client service, and long-term alignment. What is the biggest mistake advisors make when beginning due diligence? (18:12) The conversation explores why many advisors evaluate firms before gaining clarity around what they truly want to improve—often creating confusion instead of insight. How should advisors evaluate culture beyond a firm’s sales pitch? (32:41) Jason and Mindy discuss the importance of speaking directly with advisors who have already made similar moves—and how to pressure-test what firms promise. When should transition economics matter most? (47:03) The episode breaks down the difference between short-term monetization and long-term enterprise value creation—and why many elite teams are increasingly prioritizing ownership and optionality. Why are more advisors reconsidering independence? (56:48) Using the OpenArc transition as context, the discussion explores how today’s independent landscape has evolved far beyond the traditional “build it yourself” model. How long does a real due diligence process take? (1:06:10) Jason and Mindy explain why thoughtful transitions often unfold over many months—and why some advisors remain in exploratory conversations for years before acting. How should advisors think about portability and client communication? (1:16:20) The conversation details how sophisticated teams assess portability risk—and why the client-facing rationale for a move matters more than recruiting economics. Have advisor transitions become easier over time? (1:24:12) Mindy explains how technology, legal infrastructure, and industry ...
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    47 min
  • Why AI Matters Now: Filling the Estate Planning Gap with Wealth.com

    Why AI Matters Now: Filling the Estate Planning Gap with Wealth.com
    May 21 2026
    With Rafael Loureiro, Co-Founder & Chief Executive Officer, Wealth.com Rafael Loureiro on why estate planning is shifting from a static legal exercise to an AI-powered, advisor-led planning process. In Summary Estate planning has traditionally operated outside the core advisor workflow—handled through attorneys, revisited infrequently, and often disconnected from the broader client relationship. Louis speaks with Rafael Loureiro, Co-Founder and CEO of Wealth.com, about how AI is beginning to change that model. The conversation explores how advisors can use tools like Ester to surface planning gaps, stay ahead of client changes, and deliver a more continuous planning experience. For advisors, the broader implication is strategic: as investment management becomes increasingly commoditized, integrated planning and ongoing coordination may become a far more meaningful differentiator. The Storyline Most advisors already discuss estate planning with clients. The challenge is what happens next. In many cases, the process still moves outside the advisor relationship: clients are referred to an attorney, documents are created, and the estate plan becomes something revisited only after a major life event or liquidity event forces an update. Louis and Rafael explore why that structure is starting to break down. Rafael’s own estate planning experience following the sale of Emailage to LexisNexis exposed how fragmented the process could feel, even for highly engaged clients working with sophisticated advisors. That experience ultimately became the foundation for Wealth.com and its AI-powered planning platform, Ester. The discussion focuses less on AI as a headline topic and more on how it changes advisor workflow in practice—from document interpretation and planning summaries to surfacing next actions and helping advisors stay proactively engaged as client circumstances evolve. For advisors thinking about the future of planning, the conversation raises a larger question: if financial planning itself becomes increasingly standardized, where does the next layer of differentiation come from? Topics Covered Continuous estate planningAI-powered advisor workflowscom and EsterAdvisor-led estate planningFamily office-style client serviceTrust and estate attorney collaborationEstate planning for mass affluent clientsAI agents in wealth managementDynasty Financial Partners integrationAdvisor differentiation beyond investment management > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why did Rafael decide to build Wealth.com? (06:04) Rafael explains how his own estate planning experience after a liquidity event exposed major disconnects between advisors, attorneys, and clients. Why did Wealth.com choose an advisor-led model instead of direct-to-consumer? (14:28) The platform was designed around the belief that advisors (not marketing campaigns) are best positioned to initiate estate planning conversations with clients. What does “continuous estate planning” actually mean? (20:13) Rafael describes a system where client life changes, tax events, and asset activity can trigger proactive advisor engagement rather than periodic document reviews. How does Ester move beyond document summarization? (32:30) The platform now identifies planning opportunities, prepares tasks and reports, and increasingly helps advisors automate portions of the planning workflow. Why are enterprise firms and large banks adopting platforms like Wealth.com? (24:57) Many firms were already producing estate planning summaries manually for ultra-high-net-worth clients. AI allows those capabilities to scale much more efficiently. How should advisors think about the role of trust and estate attorneys going forward? (26:50) Rafael argues that AI enhances – not replaces – the attorney relationship by improving efficiency and reserving more sophisticated matters for specialized legal expertise. What may differentiate advisory firms as planning becomes more commoditized? (38:02) The discussion points toward responsiveness, coordination, personalization, and deeper client integration as the next major competitive layer for advisors. Key Takeaways Rafael believes estate planning is shifting from a one-time legal exercise to a continuous planning process supported by AI and advisor engagement.Wealth.com was intentionally built as an advisor-first platform rather than a direct-to-consumer business.Ester’s AI capabilities now extend beyond summarization into identifying planning gaps, surfacing opportunities, and preparing advisor workflows.Many firms are using estate planning as a way to deepen relationships and expand into more family-office-style service models.AI may allow advisors to serve more clients while maintaining a higher level of personalization and responsiveness.Trust and estate attorneys remain critical for complex situations, but AI can improve efficiency and help clients arrive better ...
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    47 min
  • Short-Term Hard, Long-Term Easy: Ex-Edward Jones Advisor on Building Beyond $1B

    Short-Term Hard, Long-Term Easy: Ex-Edward Jones Advisor on Building Beyond $1B
    May 14 2026
    With Ricky Smith—Founder & Managing Partner, Inspired Wealth Planning Overview Jason Diamond speaks with Ricky Smith of Inspired Wealth Planning about leaving Edward Jones after 30 years, evaluating 12 firms, and building an independent business that grew to $1.25B in assets under care in less than three years. Listen in… > Download a transcript of this episode… 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. Watch… https://youtu.be/cobAfEl0_To About this episode… What happens when you stop thinking like a renter and start thinking like an owner? Not just in theory, but in how you run your business, make decisions, and show up for clients. For Ricky Smith, that question didn’t come at the beginning of his career. It came 30 years later, after building a highly successful practice at Edward Jones and beginning to see the business through a different lens. Today, Ricky is the founder and managing partner of Inspired Wealth Planning, the independent firm he built with Kestra Private Wealth Services. Since launching in March 2023, the firm has grown to over $1.25B in assets under its care across seven locations. What makes this story interesting isn’t just the move—it’s how intentional it was. Ricky didn’t rush into independence. He spent a year evaluating 12 different firms and paths, clarifying what mattered most, and ultimately making a decision based on people and alignment, not just economics. Ricky shares his journey with Jason Diamond, including: His approach to due diligence—and why he dove deeper into the weeds before he was satisfied with his next steps.Reconsidering the wirehouse model—and why he felt independence was the best path forward.The “ownership mindset”—and how that drives his values and processes.The early phase of independence—and why it’s less about growth and more about getting the structure right.Growing by 50%—and what “breakthroughs” he had in less than three years. Ricky offers the perspective that making the leap to independence may be “short-term hard,” but you’re working toward building a business that’s designed to be “long-term easy.” And there’s another broader idea worth paying attention to: Most advisors don’t lack options; they hesitate to act on them. Listen in for sage advice from an advisor who has lived in the wirehouse world and is now independent—and has realized the value of ownership. Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002. Related Resources Diamond Consultants Edward Jones Advisor Transition Report 2025 This “firm-focused report” seeks to look under the hood at movement to and from Edward Jones from January to June of 2025. The Cost of Clarity: What Advisors Stand to Gain and Lose When Their Firm Shows Its Hand When firms become explicit about who and what they value, it’s time for advisors to read those signals and respond. The Advisor Transition Playbook: The Latest on Due Diligence, the Move, and Everything In Between – Part 2 Jason and Mindy Diamond revisit the transition playbook, this time focused on how advisor priorities are shifting. From AI and enterprise value to stability and flexibility, they unpack what’s changing in due diligence and what it means for advisors evaluating their next move. Ricky Smith Managing Partner Ricky Smith is the founder and Managing Partner of Inspired Wealth Planning. Inspired Wealth Planning is group of like minded veteran financial advisors who serve their clients and local communities across Georgia and now even Ohio. Before founding Inspired, Ricky worked as a financial advisor for 39 years. Primarily as an employee of a nationwide financial firm. Wanting to have more control over the outcomes for clients, his team and his own career, he left the employee model to join an independent firm – Kestra Private Wealth Services. After opening the Kestra based office, other advisors inquired about joining Inspired. Within the first 36 months, Inspired grew to 7 locations, 10 advisors, 14 support staff and over $1.2 billion in assets under care. In February 2026, Inspired was selected as the Outstanding Business of the Year for Kestra Financial (the parent company of Kestra Private Wealth). This was the first time that any firm from Kestra Private Wealth had ever been selected for that award. In early April the firm was on the cover of Advisor Hub magazine and in mid-April, Ricky was selected for the Forbes/Shook Best in State Wealth Advisors for the state of Georgia. An Honor that he has received 3 times in the past 5 years. Ricky lives in Cordele Georgia with his wife, Patti and their tuxedo cat Oreo. They have a daughter, Brooke, who lives in Maryland. ...
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    43 min