February 10, 2021
Mindy Diamond Quoted
By Jake Martin
A Goldman Sachs private wealth advisor in Houston has left to open an office in the city for Cresset Asset Management, a Chicago-based registered investment advisory firm.
Hanley Sayers, who began his career in real estate and joined Goldman in 2011, was overseeing $500 million in assets for Goldman customers, a Cresset spokesman said.
Goldman has traditionally been a difficult recruiting ground because of the allure of its name to wealthy investors and the supply of investment banking deals it can provide to its advisors. But Mindy Diamond, chief executive of New Jersey recruiting firm Diamond Consultants, who was not involved in Sayers’ move, said blue-chip banks are increasingly vulnerable to losing advisors to boutique wealth firms.
“These models that offer more freedom and control, great transition economics, equity, and access to a more robust and unique investment set are crushing it these days,” she said.
