Louis Diamond Quoted
By Bruce W. Fraser
One way to build an advisory practice is to re-imagine what the firm will look like in one, three and five years, and plan for those goals.
A slight variation on this strategy is to look at the business through the eyes of a possible future acquirer, says Louis Diamond, vice president and senior consultant at Diamond Consultants in Morristown, New Jersey.
“Businesses that are predominantly or all fee-based with a select group of [high-net-worth] clients, focused on comprehensive wealth management, are systemized with regards to prophesies, technology, and talent development represent ideal attributes acquirers look to when valuing firms,” he says.
