In the News

FT_The_Financial_Times

Wall Street talent poaching among brokers enters uneasy truce

May 26, 2017 – Howard Diamond Quoted – Financial Times. “There’s a gap of $1m-$2m advisers everybody wants,” says Howard Diamond of Diamond Consultants, a recruitment firm in Morristown, New Jersey, referring to the mid-point between juniors ($250,000 in annual revenues) and all-star performers ($5m+).

Read more...
WealthManagement-com

RBC, Others To Capitalize On Merrill’s Aversion To Big Recruitment Bonuses

May 19, 2017 Louis Diamond Quoted By Michael Thrasher Merrill Lynch’s decision to temporarily cease offering large recruitment signing bonuses was serendipitous news to smaller brokerages, as a number of them planned to do just the opposite this year. One brokerage in particular is standing out, according to Louis Diamond, the vice president of financial advisor recruiting firm Diamond Consultants. This year, the number advisors recruited by RBC Wealth Management U.S. has been “far above” the rest, Diamond said. Historically, Diamond said the regional brokerage (which is somewhat of a misnomer, given its size and geographic reach across the continental […]

Read more...
The Wall Street Journal

Merrill Lynch to Halt Broker Recruiting

May 12, 2017 Mindy Diamond Quoted By Michael Wursthorn Merrill Lynch will temporarily stop paying top dollar to recruit experienced brokers, according to a person familiar with the matter, the latest brokerage to make changes to how it compensates brokers poached from rivals. “For a long time all the [brokerages] felt the price of recruiting had gotten out of hand,” said Mindy Diamond, president and founder of Diamond Consultants, a Morristown, N. J.-based recruiting firm for financial advisers that does some business with Merrill. “It remains to be seen if it’s a sound strategy.” Ms. Diamond said the move will […]

Read more...
On Wall Street

Merrill Lynch recruiting pullback: Regionals and breakaways eye opportunity

May 12, 2017 Mindy Diamond Quoted By Andrew Welsch Merrill Lynch plans to scale back from adviser recruiting, mirroring a move that UBS took last year and creating an opening for smaller rivals to gain an edge in the competition for top talent. UBS has not completely pulled back from recruiting; it still hires top talent, but selectively. It isn’t clear if Wells Fargo and Morgan Stanley will copy Merrill’s example. “I think they’ll see it as a tremendous opportunity,” says Mindy Diamond, a recruiter in Morristown, New Jersey. “I’d be shocked if they followed suit.” Read more…

Read more...
FUNDfire

RBC Launches New Platform, Targets RIA Channel Growth

May 2, 2017 Mindy Diamond Quoted By Danielle Verbrigghe RBC has launched a new wealth management technology platform for its registered investment advisor (RIA) and independent broker-dealer clients. This comes as the firm has taken other steps aimed at expanding its RIA custody channel. The RIA custodian market is dominated by four big players, Charles Schwab, TD Ameritrade, Fidelity and Pershing, explains Mindy Diamond, president and CEO of Diamond Consultants, a financial advisor recruiting firm that does work in the independent advisor channel. That can make it tough for other firms focused on growing in the RIA channel to gain […]

Read more...
HGTI How to go Independent Podcast

HTGI Podcast Interview with Mindy Diamond

April 18, 2017 Mindy Diamond featured in podcast Sean Kernan interviews Mindy Diamond on his podcast series How To Go Independent As an advisor who worked with Mindy and chose the path to independence, Sean asks Mindy questions about her experience as a consultant and recruiter for financial advisors. Listen in as they discuss the process a financial advisor goes through when deciding the next steps in their career.   How To Go Independent (HGTI) is a website featuring a podcast and blog for financial advisors who are currently employees exploring information about independent business models on your own time, in […]

Read more...
WealthManagement-com

On the Fence About a Move?

April 18, 2017 By Mindy Diamond Advisors have more opportunity than ever to build the business that they envision. Yet, with all of the different models to choose from within this greatly evolved landscape, we find many are still searching for a utopian opportunity that doesn’t exist. If an advisor is still unable to check off every item on his wish list, does it make sense to hold out for perfection? Or should one be flexible in his expectations and choose a better, albeit imperfect, solution? Read more…

Read more...
WealthManagement-com

Breaking Free of Dated Ideologies

March 23, 2017 By Mindy Diamond It might surprise you to hear that it is often the most productive and successful wirehouse advisors—usually those who serve the highest net worth clients—who feel the most torn by how best to serve them. It is their belief that these wealthier and more discerning clients are married to the wirehouses. After all, these same firms created a culture where advisors and their clients are indoctrinated in the belief that they are only successful because of the firm name and the brand cache that comes with it. “The bureaucracy and hyper-vigilant compliance culture of […]

Read more...
Financial Planning

Spark growth by adopting top-to-bottom segmentation strategies

April 4, 2017 Louis Diamond Quoted By Bruce W. Fraser Advisory firms are trying to figure out how to leverage their networks and technology to profitably expand their client bases. “The reason service models are being rolled out today is that the ultra-wealthy have more complex needs,” making it more labor-intensive for advisers and their teams, says Louis Diamond, vice president and senior consultant at recruiting firm Diamond Consultants in Morristown, New Jersey. “It doesn’t make sense to serve smaller clients in the same capacity.” Moreover, Diamond sees a renewed push at the major wirehouses to focus mainly on high-net-worth […]

Read more...
Page 1 of 2612345...1020...Last »