Diamond State Financial Group

What Diamond State Financial Group does

Diamond State Financial Group (DSFG) is an independent wealth management firm founded in 1989 in Newark, Delaware by Raymond F. Bree, Jr., with a secondary office in Media, Pennsylvania. The firm provides financial planning, asset management, qualified retirement plan design and administration, insurance protection, and, as of 2025, tax planning and preparation through its newly formed DSFG Tax & Advisory subsidiary. It serves six defined customer segments - pre-retirees/retirees, business owners, organizations, medical professionals, legal professionals, and young professionals - through dedicated specialized divisions, and operates entirely through the Cetera Wealth Services, Cetera Investment Advisers, and Cetera Advisor Networks broker-dealer and RIA platforms for securities and advisory distribution. Technology is limited to standard third-party client portals (Pershing AdviceWorks, SEI AccessMyPortfolio, AssetMark eWealthManager) and multiple annuity carrier integrations; no proprietary technology or AI capabilities are disclosed.

DSFG monetizes through a mix of fee-based advisory (recurring), securities commissions on brokerage transactions routed through Cetera, and professional-services fees from the tax advisory subsidiary. Go-to-market is relationship-led: complimentary initial consultations, a six-step onboarding process, and face-to-face advisory meetings at both offices drive long-term household relationships and a strong referral flywheel. The firm self-reports as the largest Wealth Management Firm in Delaware by employee count, with 51-100 employees carrying more than 350 years of combined financial services experience, multiple CFP/ChFC/RICP/CBEC/CDFA-credentialed advisors, and a formal partnership track (since 2008) and Field Director (appointed 2024) to recruit and develop advisors.

Assets under administration grew from $1.26B in June 2018 to $3.2B at December 31, 2025, a roughly 14% CAGR, supported by the 2018 acquisition of the Marsico-Weschler Group (entry into Pennsylvania), the 2022 purchase of the Iron Hill Corporate Center headquarters, the 2024 purchase of the Media, PA office building, and a leadership succession from founder Bree (retired 2024) to President & CEO Christopher Burgos (named 2021). The firm is privately held with no external parent or institutional investor identified, and Senior Partner promotions in 2025 (Bryan Radcliff, Neil Stalter) signal internal succession depth.

Name

Diamond State Financial Group

Legal name

Diamond State Financial Group

Website

https://dsfg.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

51–100 employees

Short description

Diamond State Financial Group is an independent wealth management firm founded in 1989 in Newark, Delaware, providing financial planning, asset management, retirement plans, insurance, and tax advisory services to individuals, business owners, and medical and legal professionals across Delaware and Pennsylvania.

Ownership category

akta.pro rank

Product category

Wealth Management Services

NAICS

Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Independent Broker-Dealers (Retail Network) (FSAAAAAC)

akta.pro secondary industry

Affluent / Mass-Affluent Private Banking (FSABADAC)

Keywords

• Wealth management services
• Financial planning advisory
• Retirement plan design
• Asset management advisory
• Insurance protection services

Headquarters

HQ city

Newark

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Financial Advisory Services: Fee-based financial advisory and wealth management services providing comprehensive financial planning, investment management, retirement planning, and insurance protection to individuals and organizations.
2. Securities Commissions: Transaction-based compensation through brokerage services for securities products offered through Cetera Wealth Services LLC.
3. Tax Planning and Preparation: Revenue from DSFG Tax & Advisory, a new subsidiary launched in 2025 providing comprehensive tax planning and preparation services.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Diamond State Financial Group is an independent wealth management firm that delivers personalized financial planning, asset management, qualified retirement plan design, and insurance protection to individuals, business owners, medical and legal professionals, and organizations. Securities and advisory services are distributed through registered broker-dealer and RIA affiliations with the Cetera network of companies.

Product overview

Diamond State Financial Group is a comprehensive financial services firm offering an integrated suite of wealth management products and services. The core offerings include Financial Planning, Asset Management, Qualified Retirement Plans, and Insurance Protection, which work together to provide holistic financial guidance. The firm serves distinct market segments through specialized divisions for Medical Professionals, Legal Professionals, and Business Owners. In 2026, the firm expanded its portfolio with the launch of DSFG Tax & Advisory, adding tax planning and preparation capabilities to its service offering. The company operates through registered broker-dealer and investment adviser affiliations with Cetera entities, providing access to multiple account platforms and annuity product providers.

Differentiator

Problem solved

Functional benefit

Brands

• DSFG Cares: Charitable foundation with mission to improve quality of life, education and/or health and safety of children in the local community
• DSFG Tax & Advisory

Products and services

• Financial Planning Comprehensive financial planning services tailored to unique client needs and circumstances, covering goal setting, retirement planning, tax efficiency, and estate planning strategies for individuals and families.
• Asset Management Professional investment management services designed to help clients invest wisely and maximize returns through diversified portfolio strategies, delivered through Cetera Investment Advisers LLC.
• Qualified Retirement Plans Design and management of employer-sponsored retirement plans including 401(k), 403(b), and defined benefit plans to drive successful retirement plan execution for organizations.
• Insurance Protection Insurance products and risk management solutions to safeguard assets and provide financial security for individuals and families, distributed through multiple annuity carriers.
• DSFG Tax & Advisory Tax planning and preparation services specializing in comprehensive tax planning strategies and tax return preparation for individuals and businesses.
• Medical Professionals Financial Planning Specialized financial planning services tailored for physicians and medical professionals, addressing medical school loans, practice financing, and career-specific financial planning needs.
• Legal Professionals Financial Planning Financial planning services designed for attorneys and legal professionals, addressing law school loans, partnership financial implications, and career transition planning.
• Business Owners Financial Planning Comprehensive financial planning services for business owners including business succession planning, employee benefits optimization, and business value maximization.

Quantifiable outcome

• Assets under administration grew from $1.26B to $3.2B (154% increase)

Named customers3 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Scale indicators3 records

Recent moves12 records

Expansion highlights5 records

Broad incumbents

• Cetera Financial Group: Independent broker-dealer and RIA platform that is DSFG's primary affiliation for securities and advisory. Highly comparable because DSFG's entire operating model depends on Cetera's networks, and Cetera aggregates similar independent advisor firms under one platform.
• LPL Financial: Largest independent broker-dealer in the U.S. by advisor count and AUA. Comparable as a scaled, publicly traded parallel to DSFG's affiliation model — many LPL-affiliated advisor practices compete head-to-head with DSFG in the Mid-Atlantic for mass-affluent and retirement-plan clients.
• Northwestern Mutual: Large established wealth management and insurance company with advisor-led distribution focused on comprehensive financial planning. Comparable to DSFG in service offering (planning + insurance + investments) and pre-retiree/retiree target segment.
• Edward Jones: National retail wealth management franchise with thousands of branch offices serving mass-affluent and pre-retiree households. Comparable to DSFG in target segments (retirees, business owners, organizations with retirement plans) and in face-to-face relationship model, but at vastly greater scale.
• Raymond James Financial Services: Public diversified financial services firm with a substantial independent-advisor channel focused on comprehensive wealth planning. Comparable because its advisor channel competes directly with DSFG in the Mid-Atlantic for mass-affluent households and qualified retirement plans.
• MassMutual Financial Group: Mutual insurance and wealth management firm with strong position in retirement, estate, and business-owner planning. Comparable to DSFG's Medical Professionals, Legal Professionals, and Business Owners segments in delivering integrated insurance + advisory planning for high-income professionals.
• Schwab Wealth Advisory: Large-scale wealth advisory offering from Charles Schwab combining digital and advisor-led services to mass-affluent and retired clients. Comparable in target client (retirees/mass affluent) and in fee-based advisory model, though delivered at vastly greater scale and with hybrid digital capabilities.
• Fidelity Wealth Management: Full-service wealth management arm of Fidelity Investments offering planning, investment management, and retirement solutions. Comparable to DSFG in covering the full pre-retiree to retiree life stage and in providing retirement plans for organizations.

Direct peers

• Commonwealth Financial Network: Large independent broker-dealer supporting independent advisor practices with planning, technology, and custody solutions. Directly comparable to DSFG in model (independent RIAs/B-Ds), target market (mass-affluent and business owners), and reliance on affiliated infrastructure for compliance and operations.

Emerging players

• Mercer Advisors: National RIA built partly through acquisition of small independent advisor firms, focused on comprehensive wealth planning for mass-affluent and high-net-worth households. Comparable to DSFG's roll-up-style expansion (e.g., Marsico-Weschler acquisition) and in targeting business owners and retirees with integrated planning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/diamondstatefinancialgroup
• LinkedInlinkedin.com/company/diamond-state-financial-group

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Diamond State Financial Group