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Mindy Diamond on Independence

Mindy Diamond on Independence: How to Maximize Your Career Enterprise Value

There is a “value” to the work an advisor does, regardless of whether they are an employee or independent, that needs to be a part of the conversation when considering one’s future.


“Enterprise value” is often discussed in the context of the total value of a business or the cost to acquire a company.

To maximize the value of one’s business is a goal strived for by any business owner, including those in the wealth management industry—particularly those who are independent business owners.

But what about advisors who are NOT independent business owners? They are investing their time, energy, and talents in serving clients and fostering growth while employed by a brokerage firm.

They are indeed building the enterprise value of their career: How can they maximize that value regardless of industry channel?

And is it possible to do so by staying at one firm for their entire career?

Louis Diamond developed the concept of maximizing one’s career enterprise value and employs the process with advisors he works with. He views the guidance derived from the exercise as a central tenant of Diamond Consultant’s value to advisors.

In this episode with Mindy Diamond, Louis discusses the importance of career enterprise value and what advisors can do to positively impact it, including:

  • Defining maximum career enterprise value—and why it’s important to advisors.
  • The formula around Maximizing Career Enterprise Value (aka “MaxCeV”)—and how an advisor can impact each component.
  • The real impact of changing firms or models—and how, for example, a firm’s retire-in-place program compares to what an advisor might get for their business on the open market.
  • Quality of life—and why that’s one of the most important values in the quotient.

There is a “value” to the work that an advisor does—regardless of whether they are and employee or independent. And that value needs to be a part of the conversation when considering one’s future. This model will help advisors conceptualize what that value is and how to achieve it.

Listen to more episodes of Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change.

TAGS: Investment
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