RIA Edge Podcast: Building a Scaled, Service-First RIA with Phil Fiore

Published on April 28, 2026

Procyon's Phil Fiore details how the firm transitioned from a wirehouse environment to build a fast-growing independent RIA.

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Consumer Confidence Edged Up Again Despite Spiking Prices

April 28, 2026
The Conference Board's Consumer Confidence Index® edged up for the third consecutive month in April, rising 0.6 points to 92.8. While the recent monthly gains have been modest, the index has reached its highest level of the year and outpaced the forecast of 89.0.

Causes and Conditions

April 28, 2026
The defining feature of a Ponzi scheme is that it persuades investors to pay for future cash flows that, at least in part, don’t actually exist, while creating the impression that those cash flows imply an attractive return on the price investors pay. If we look carefully at the record valuation extremes in the equity market, and the wildly elevated profit margins that investors appear to view as