The Diamond Podcast for Financial Advisors

When Success Isn’t Enough: Merrill Breakaways Make the Case for Independence

Mar 19, 2026

Joe Castiglie, COO/CIO at SYKON Capital with a background in equity derivatives and operations, and Todd Stankiewicz, President/CIO focused on values-based planning and behavioral finance. They recount leaving Merrill to pursue independence. They discuss choosing full control with their own ADV, blending institutional investing with behavioral insights, and designing a customized client experience driven by culture and simplicity.

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ANECDOTE

Conference Moment Sparked The Move To RIA

Todd described a 2017 conference moment when he felt he belonged in the RIA community after talking openly with other RIA leaders.
That willingness to share 'secret sauce' convinced him independence fit their future direction.

INSIGHT

Independence Comes With Unexpected Collegiality

The independent RIA community is unusually collaborative; larger firms willingly share operational and strategic ideas.
Todd emphasized lunches, calls, and direct access to leaders at seven to ten billion dollar firms who openly advise smaller RIAs.

ADVICE

Decide Your Why Before Choosing Independence

Decide your "why" first: clarify whether you want a bonus, client freedom, or new service lines before choosing an independence path.
Use that honest why to pick full ADV ownership or a shared ADV, since each grants different decision rights.

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With Todd Stankiewicz, President & CIO, and Joe Castiglie, COO & CIO – SYKON Capital

Overview

Todd Stankiewicz and Joe Castiglie of SYKON Capital join Jason Diamond to discuss redefining success after Merrill, launching their own RIA, and how independence allowed them to combine institutional-caliber investing with behavioral insights to deliver peace of mind to clients.

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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.

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https://youtu.be/EoWNsiS_-AA

About this episode…

For many advisors, success at a wirehouse is relatively easy to measure by assets, production, and growth.

But what happens when those metrics don’t reflect what should come by way of success—that is, a sense of feeling fulfilled?

This episode dives into the moment when two successful Merrill advisors realized that growth alone wasn’t the true measure of their success: it was delivering on their vision of providing real peace of mind to their clients. And that required a broader toolkit than the traditional model allowed.

So, Todd Stankiewicz and Joe Castiglie decided to launch their own RIA, SYKON Capital, and build a firm grounded in full control from investment philosophy to client experience to culture.

With Jason Diamond, Todd and Joe unpack their story, including:

The turning point in their conversations—and when it shifted from “We’re building something successful here,” to “We might want to build something of our own.”
Their definition of success—and how it evolved over time.
Their introduction to the independent community—and why it changed their perspective.
Their unique combination of institutional-caliber investment management and behavioral insight—and why they felt they could only achieve it in an independent model.
The operational and leadership perspective—and what they found to be the biggest and most surprising challenges in launching an independent firm.

For advisors who are successful where they are — but quietly wondering if there’s more on the other side — this conversation will challenge how you define control, growth, and impact.

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 Merrill Advisor Transition Report 2025
This annual “firm-focused report” takes a closer look at advisor movement to and from Merrill during the first half of 2025.

Intentional Growth: How Top Advisors Build Businesses That Last
Markets can be a tailwind, but building a durable business requires intention and a plan. Here are 5 core practices from the industry’s elite.

Why So Many Successful Advisors Feel Stuck
They’ve built thriving businesses. Strong production. Loyal clients. Growing teams. So why do so many successful advisors quietly wonder, “Why doesn’t this feel as good as I expected?” This episode tackles the psychology of success and what comes after it.

Todd Stankiewicz
President, CIO

As President and Chief Investment Officer of SYKON Capital, I lead a firm built around one simple idea: it’s not just about the money, it’s about what your money enables you to do.

We combine values-based financial planning with institutional-grade investment management, all grounded in behavioral insights. That means fewer cookie-cutter strategies and more tailored, actionable guidance that meets you where you are, and helps you get where you want to go.

Whether you’re navigating a major life transition, looking to scale your wealth, or simply want more clarity and control, we’re here to simplify the complex and deliver advice that actually feels personal.

Because at SYKON, we don’t just manage portfolios. We help people live better, more intentional lives.

Joseph P. Castiglie III
CFA

As Chief Operating Officer and Chief Investment Officer of SYKON Capital, I am responsible for leading the firm’s investment strategy and overseeing day-to-day operational excellence — all with a singular focus: helping clients achieve meaningful, lasting financial outcomes.

At SYKON, we work to ensure every element of the client experience is intentional, streamlined, and aligned with each individual’s goals and stage of life. From portfolio design to strategic planning and firm-wide processes, my approach reflects SYKON’s mission to meet clients where they are and guide them with clarity and care.

By combining disciplined investment oversight with practical, real-world insight, I help deliver personalized financial strategies that support confident decision-making and long-term success.