Howard Diamond Quoted
By Greg Iacurci
Merrill Lynch is taking a big risk on the wealth management unit’s new adviser recruiting strategy — one that could pay off, but just as easily backfire.
“The firm will be hard-pressed to have an adviser join them when there’s the ability of recruiting bonuses from other firms,” said Howard Diamond, chief operating officer and general counsel at Diamond Consultants Inc., a recruiting firm. “[Signing bonuses] are a large reason that influences moves.”
UBS is increasing its recruiting efforts, offering top advisors deals of up to 550% of annual revenue while targeting experienced private bankers.
Advisors at some of the largest firms in the country are leaving, and not in a trickle. In 2024 alone, more than 9,600 experienced advisors changed firms, according to industry data from Diamond Consultants.
June 12, 2026Louis Diamond QuotedBy Andrew Cohen Median compensation for financial planners reached $195,000 in 2025, marking a 15% year-over-year
