Ronald (Ron) Diamond is the Founder and CEO of Diamond Wealth, a boutique financial services firm catering to 100 single-family offices’ unique needs ranging in size from $250 million to $30 billion.
At Diamond Wealth, Ron helps single-family offices navigate the entire spectrum of investments, including advice on investments in private equity, real estate, and venture capital. They have investment banking, private investment, environmental and social governance, and philanthropy divisions.
Ron is also the Chair of TIGER 21 in Chicago. TIGER 21 is the premier peer-to-peer learning network for high-net-worth individuals.
Here’s a glimpse of what you’ll learn:
- How Ron Diamond got into the world of family offices
- Ron talks about how he’s practiced giving first and providing value
- The fragmentation in family offices — and how Ron is trying to solve it
- Why is wealth transfer declining?
- Foundations for wealth growth and transfer
- The legacy side of investments
- Ron talks about the evolution of services at Diamond Wealth and his north star
- How Ron got into TIGER 21 and what’s he’s learned
In this episode…
As the world changes around you and people search for opportunity, it’s vital to focus on one question: what is your north star? While you think about it, remember you’re a business owner creating wealth — what comes after that big exit?
This episode is packed with insight about being the go-giver, providing value, and getting it back as wealth. But wealth and succession planning are not nearly talked about enough. Our guest, Ron Diamond, peels back the layers of wealth growth and transfer, but beyond all that, he wants you to do it from your north star.
Listen to this episode of the Inspired Insider Podcast with Dr. Jeremy Weisz featuring the Founder and CEO of Diamond Wealth, Ron Diamond. They discuss the fragmentation in family offices and how Ron is trying to solve it, why wealth transfer is declining, the foundation for wealth growth and transfer, and what your north star has to do with all of it. Stay tuned.
Resources mentioned in this episode:
- “The Pixar Story: The Letter of a lifetime That Started Everything With Alvy Ray Smith, Co-Founder of Pixar”
Sponsor for this episode
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Cofounders Dr. Jeremy Weisz and John Corcoran credit podcasting as being the best thing they have ever done for their businesses. Podcasting connected them with the founders/CEOs of P90x, Atari, Einstein Bagels, Mattel, Rx Bars, YPO, EO, Lending Tree, Freshdesk, and many more.
The relationships you form through podcasting run deep. Jeremy and John became business partners through podcasting. They have even gone on family vacations and attended weddings of guests who have been on the podcast.
Podcast production has a lot of moving parts and is a big commitment on our end; we only want to work with people who are committed to their business and to cultivating amazing relationships.
Rise25 Cofounders, Dr. Jeremy Weisz and John Corcoran, have been podcasting and advising about podcasting since 2008.
Insider Stories from Top Leaders & Entrepreneurs…
Jeremy Weisz 0:19
Dr. Jeremy Weisz here, I am the host of InspiredInsider.com where I talk with inspirational entrepreneurs and leaders and I’m here with Ron Diamond. I’m going to introduce him formally in a second. Ron I always like to point out other episodes, people should check out. One of the interesting one lately I had the Co-founder of Pixar on he talked about kind of the inception of Pixar. And just some early George Lucas story, Steve Jobs stories to check that out, and many other episodes there. This episode is brought to you by Rise25 at Rise25 we help businesses connect to their dream 100 relationships. And we do that by helping you run your podcast. You know, for me, Ron, I’m always looking at ways to give to my relationships. And I found no better way to give to my relationships than to profile them to shout from the rooftops their story, what they’re doing what they’re working on, on the podcast. So if you haven’t thought about it, check it out, go to Rise25.com. And I’m excited and big shout out to Stu Wolff, who’s a business Coach Certified EOS Implementer and Michigan, fellow leader in TIGER 21 organization like Ron. So thanks to Ron Diamond is the Founder and CEO of Diamond Wealth, which is a holistic financial advisory firm catering to the unique needs of over 100 Single Family Offices ranging in size from 250 million to three 30 billion. Their company helps single family offices navigate the entire spectrum of investments and includes, you know, advice on investments in private equity, real estate venture capital. What’s cool round about your company is you have an investment banking division, you have a private investment division, you have environmental social governance division, and a philanthropy division, which actually led by the former Head of Oprah Winfrey Foundation’s President of Crown family, philanthropies, and you’re also a Chair of TIGER 21. So Ron, thanks for joining me.
Ron Diamond 2:13
Thank you for having me.
Jeremy Weisz 2:14
You know what I love to start off with and I’ve listened to several interviews, you also talk about a lot about giving value first. So I love to hear your philosophy because people think, well, you know, breaking How did you break into this world of family offices?
Ron Diamond 2:33
Admit serendipitous. So, um, my background, I started, I graduated from Northwestern, I’ve worked at Drexel Burnham. When Drexel Burnham existed and after two years, they imploded. And I’m in the room with people in their 60s and 70s and literally met their weeping, many of them lost all their money. And my takeaway from that was, I would always be loyal to people. But I would never be loyal to a company. Because if that could happen to Drexel, it can happen to anybody. So I came back to Chicago started a hedge fund ran about 250 million for 10 years sold, it took some time off and started investing. So I got into the family office world, very serendipitous it with the hedge fund. They didn’t call them family offices, they would call them family offices today, they used to call them rich people. So they’re a bunch of rich people were called family offices. And that’s kind of how I got into the space. So after I sold my company, I started making some investments. And I figured if I put in a little bit, and I could get other people to invest more, I’ll get better deal flow and execution. So that’s basically what I started to do. And that’s how I got into the business.