Mark Tibergien, the CEO of BNY Mellon Pershing Advisor Solutions, shares his thoughts on the momentum towards independence, the evolving advisor mindset, what it takes to run a successful practice, and much more.
There are few people whose knowledge of the wealth management industry can match that of Mark Tibergien—so to have access to this award-winning thought-leader, author, and CEO is fortuitous.
Mindy sets the stage for an intense dialogue with Mark about the state of the industry: the independent space and what lies ahead for captive and independent advisors.
Together they discuss:
- The key differences between captive and independent advisors, and how the desire to become a “true” fiduciary is driving advisor sentiment and movement towards independence.
- The fundamental changes in the role of the advisor: an evolution from product-advocate to customer-advocate.
- The evolved role of the custodian, and how it’s grown beyond just asset custody.
- A look at the RIA space, and the most compelling features that will influence growth and asset flow in the future.
- The real risk profile of independence, and what advisors need to be aware of before they decide to make the leap.
- How the business of financial advice has changed; three key questions that firm owners need to ask themselves.
- How to build an “enduring” firm, and why planned obsolescence should be a goal of every firm founder.
- Options for independent firm owners looking to access capital; understanding the real cost of selling equity.
- What succession planning really means and where there’s opportunity to create transferable value.
It’s a deep dive into a world that has changed dramatically: where those willing to accept risk and accountability are seeing the highest level of reward. It’s the one episode you don’t want to miss.
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Mindy Diamond is President & CEO of Diamond Consultants in Morristown, N.J., a nationally recognized boutique search and consulting firm in the financial services industry.