Contrasting Viewpoints with Mark Hurley and Ray Sclafani Podcast Por FA Magazine arte de portada

Contrasting Viewpoints with Mark Hurley and Ray Sclafani

Contrasting Viewpoints with Mark Hurley and Ray Sclafani

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Mark Hurley and Ray Sclafani provide different viewpoints and insights on what is really going on in the wealth management industry as well as take an in-depth look at the immense opportunity ahead over the next ten to fifteen years and what firms will need to do to capitalize on it.Copyright 2026 Contrasting Viewpoints with Mark Hurley and Ray Sclafani Economía Finanzas Personales Gestión Gestión y Liderazgo Liderazgo
Episodios
  • The RIA M&A Frenzy with Jonathan Stern (Ep. 23)

    The RIA M&A Frenzy with Jonathan Stern (Ep. 23)
    Mar 13 2026
    The M&A market for RIAs continues to accelerate, fueled by record deal activity, strong valuations, and an influx of private equity capital. In this episode of Contrasting Viewpoints, Ray Sclafani and Mark Hurley are joined by Jonathan Stern, partner at Berkshire Global Advisors, to unpack what is driving the current deal frenzy and what it means for advisory firm owners.Jonathan shares insights from decades of advising on financial services transactions, explaining why investor demand for RIAs remains so strong and why valuations have stayed elevated. The conversation explores the forces shaping today’s market, including the appeal of recurring revenue, demographic tailwinds in wealth creation, and the growing professionalization of advisory firms.The discussion also highlights how buyers are increasingly focusing on organic growth, client demographics, and leadership depth when evaluating firms. Ray and Mark examine the rising interest in minority investments as advisors seek liquidity without giving up control, as well as the growing sense of FOMO among some founders as consolidation continues.About Jonathan SternJonathan Stern is a partner at Berkshire Global Advisors, a leading boutique investment bank specializing in financial services mergers and acquisitions. He co-leads the firm’s investment management practice and works extensively with wealth managers, asset managers, and financial institutions on strategic transactions and advisory engagements.Stern joined Berkshire Global Advisors in 1998 and has more than four decades of industry experience. Over the course of his career, he has advised on a wide range of transactions across wealth management, investment management, real estate, infrastructure, and capital markets.Prior to joining Berkshire, Stern spent his early career at First Union and First Fidelity Bancorporation, where he focused on corporate finance and acquisition strategy.Today, he works with leading advisory firms and financial institutions around the world, helping them navigate mergers, capital partnerships, strategic investments, and long-term growth planning.https://berkshireglobal.com/our-team/jonathan-stern-cfa/About Our Hosts:Mark HurleyMark Hurley is CEO of Digital Privacy and Protection, a cybersecurity specializing in serving clients of financial advisory firms and other professionals. Prior to that, he was CEO of Fiduciary Network, an acquirer of minority interests in RIAs. From 1998 to 2004, he was CEO of Undiscovered Managers, a mutual fund company that was sold to JP Morgan Asset Management. He began his career as an investment banker in the financial services division of Goldman Sachs, where he specialized in asset management. He is a graduate of the United States Military Academy at West Point and holds an M.B.A. from the Stanford Graduate School of Business.To learn more about Mark Hurley and Digital Privacy and Protection visit dpripro.comRay SclafaniAfter 20 years at AllianceBernstein, Ray Sclafani founded and heads ClientWise, the premier coaching and training company exclusively serving the financial services industry. Ray’s passion for serving leaders, advisors, and companies in the financial services sector is reflected in ClientWise and its unique coaching programs and team of credentialed coaches that help advisors and companies find the next level of professional excellence and financial success with greater focus and ease.Ray’s experience as a seasoned specialist in coaching and training in the financial sector mirrors his long and profitable history in the industry. In his 20 years at AllianceBernstein, Ray was one of the company’s top sales professionals and executive leaders. His knowledge of how to create and execute on highly successful sales plans and build long lasting client connections was later utilized as founder and Managing Director of the Advisor Institute at AllianceBernstein.As a complement to his coaching skills, he also holds a Master’s Certification in Neuro-Linguistics from the International Association for Neuro-Linguistic Programming and has participated in The Strategic Coach® Program for 17 years.Ray’s book, You’ve Been Framed: How to Reframe Your Wealth Management Business and Renew Client Relationships, was published by Wiley in 2015. Ray holds a BA from Baylor University. He lives in Flower Mound, Texas with his wife and true life partner, Beth. Their two sons and Beth continually inspire his work and his passion for excellence.To learn more about Ray Sclafani and ClientWise visit www.clientwise.com
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    48 m
  • Wealth Management’s Tectonic Shifts in 2026 (Ep. 22)

    Wealth Management’s Tectonic Shifts in 2026 (Ep. 22)
    Feb 6 2026
    2026 is shaping up to be a transformative year for wealth management, and the next phase of the industry is already here. In this episode, Ray Sclafani and Mark Hurley break down the seismic changes advisors need to watch from consolidation and private equity pressures to AI adoption, cybersecurity risks, and shifting client expectations. They explore why the middle market is disappearing, how top firms are pulling ahead, and what it takes to stay competitive in a rapidly evolving landscape.We also highlight the key tectonic shifts reshaping wealth management in 2026, providing actionable insights for advisors looking to protect and grow their businesses in the face of disruption. Hear what’s shaking the industry and learn how to position your firm for success in 2026.Wealth Management’s Tectonic Shifts in 2026Disappearance of the Middle Market RIAsMid-sized firms are being squeezed: too large to be tuck-ins, too small to scale.Only small “boutique” and large “scaled” firms are thriving.Mega Consolidation and M&A AccelerationRollups and mergers continue, particularly among large aggregators.PE firms are driving deals, often prioritizing fees over client value.AI and Technology RevolutionOnly firms investing in tech, data, and operating infrastructure can sustain growth.AI-enabled solutions are reshaping investment management, client engagement, and operations.Shift in Fee Models and Client ValueTraditional AUM-based fees are becoming less differentiating.Clients increasingly pay for tax efficiency, estate planning, and retirement income strategies.Advisors who clearly communicate value can raise fees.Cybersecurity and Data RiskSophisticated breaches are increasingly likely.Firms must protect client assets, personal data, and maintain regulatory compliance.Regulatory Pressure on Consolidation and Fiduciary OversightSEC and state regulators scrutinizing whether growth is sustainable or just for liquidity events.Non-competes and restrictive covenants may be challenged, especially in California.Polarization Between Winners and Everyone ElseA handful of large, well-run firms will pull away with extraordinary organic growth.Firms that fail to integrate acquisitions or innovate will struggle or be forced to sell.Private Equity Influence ContinuesMore firms will go private; IPOs are likely delayed.PE involvement amplifies growth strategies but also increases pressure on leadership and client outcomes.About Our Hosts: Mark HurleyMark Hurley is CEO of Digital Privacy and Protection, a cybersecurity specializing in serving clients of financial advisory firms and other professionals. Prior to that, he was CEO of Fiduciary Network, an acquirer of minority interests in RIAs. From 1998 to 2004, he was CEO of Undiscovered Managers, a mutual fund company that was sold to JP Morgan Asset Management. He began his career as an investment banker in the financial services division of Goldman Sachs, where he specialized in asset management. He is a graduate of the United States Military Academy at West Point and holds an M.B.A. from the Stanford Graduate School of Business. To learn more about Mark Hurley and Digital Privacy and Protection visit dpripro.com Ray SclafaniAfter 20 years at AllianceBernstein, Ray Sclafani founded and heads ClientWise, the premier coaching and training company exclusively serving the financial services industry. Ray’s passion for serving leaders, advisors, and companies in the financial services sector is reflected in ClientWise and its unique coaching programs and team of credentialed coaches that help advisors and companies find the next level of professional excellence and financial success with greater focus and ease. Ray’s experience as a seasoned specialist in coaching and training in the financial sector mirrors his long and profitable history in the industry. In his 20 years at AllianceBernstein, Ray was one of the company’s top sales professionals and executive leaders. His knowledge of how to create and execute on highly successful sales plans and build long lasting client connections was later utilized as founder and Managing Director of the Advisor Institute at AllianceBernstein. As a complement to his coaching skills, he also holds a Master’s Certification in Neuro-Linguistics from the International Association for Neuro-Linguistic Programming and has participated in The Strategic Coach® Program for 17 years. Ray’s book, You’ve Been Framed: How to Reframe Your Wealth Management Business and Renew Client Relationships, was published by Wiley in 2015. Ray holds a BA from Baylor University. He lives in Flower Mound, Texas with his wife and true life partner, Beth. Their two sons and Beth continually inspire his work and his passion for excellence. To learn more about Ray Sclafani and ClientWise visit www.clientwise.com
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    44 m
  • Why Place Planning Belongs in Financial Planning with Ryan Frederick (Ep. 21)

    Why Place Planning Belongs in Financial Planning with Ryan Frederick (Ep. 21)
    Jan 15 2026

    In this Contrasting Viewpoints episode, Ray Sclafani and Mark Hurley sit down with Ryan Frederick, an expert in place planning and author of Right Place, Right Time, to explore why housing decisions deserve a seat at the financial planning table. Ryan explains that where clients live directly influences longevity, social connection, purpose, and physical well-being, making place planning a strategic decision rather than a lifestyle preference.

    Drawing on his background in health, technology, and senior housing, Ryan shares insights from his research and experience on how living environments shape long-term outcomes. The conversation highlights common mistakes individuals make when it comes to place planning, including overconfidence in relocating and waiting too long to make necessary changes.

    Also discussed, is the evolving role of wealth advisors and why integrating place planning into advisory relationships can lead to more comprehensive guidance. By helping clients think intentionally about where they live today and in the future, advisors can better support long-term well-being alongside financial success.

    About Ryan Frederick:

    Ryan Frederick is a thought leader, keynote speaker, and author focused on place planning, which is the strategic approach to choosing the right home for each stage of life. He is Founder and CEO of Here, helping individuals and organizations understand how living environments impact health, purpose, social connection, and long-term outcomes. Ryan is the author of Right Place, Right Time and serves on the Advisory Council for the Stanford Center on Longevity.

    https://www.ryanfrederick.life/

    About Our Hosts:

    Mark Hurley

    Mark Hurley is CEO of Digital Privacy and Protection, a cybersecurity specializing in serving clients of financial advisory firms and other professionals. Prior to that, he was CEO of Fiduciary Network, an acquirer of minority interests in RIAs. From 1998 to 2004, he was CEO of Undiscovered Managers, a mutual fund company that was sold to JP Morgan Asset Management. He began his career as an investment banker in the financial services division of Goldman Sachs, where he specialized in asset management. He is a graduate of the United States Military Academy at West Point and holds an M.B.A. from the Stanford Graduate School of Business.

    To learn more about Mark Hurley and Digital Privacy and Protection visit dpripro.com

    Ray Sclafani

    After 20 years at AllianceBernstein, Ray Sclafani founded and heads ClientWise, the premier coaching and training company exclusively serving the financial services industry. Ray’s passion for serving leaders, advisors, and companies in the financial services sector is reflected in ClientWise and its unique coaching programs and team of credentialed coaches that help advisors and companies find the next level of professional excellence and financial success with greater focus and ease.

    Ray’s experience as a seasoned specialist in coaching and training in the financial sector mirrors his long and profitable history in the industry. In his 20 years at AllianceBernstein, Ray was one of the company’s top sales professionals and executive leaders. His knowledge of how to create and execute on highly successful sales plans and build long lasting client connections was later utilized as founder and Managing Director of the Advisor Institute at AllianceBernstein.

    As a complement to his coaching skills, he also holds a Master’s Certification in Neuro-Linguistics from the International Association for Neuro-Linguistic Programming and has participated in The Strategic Coach® Program for 17 years.

    Ray’s book, You’ve Been Framed: How to Reframe Your Wealth Management Business and Renew Client Relationships, was published by Wiley in 2015. Ray holds a BA from Baylor University. He lives in Flower Mound, Texas with his wife and true life partner, Beth. Their two sons and Beth continually inspire his work and his passion for excellence.

    To learn more about Ray Sclafani and ClientWise visit www.clientwise.com

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    49 m
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