Another Former Merrill Broker Makes His Way Back
Mindy Diamond Quoted
By Michael Wursthorn
Another Merrill Lynch alumnus has returned to the Bank of America Corp. -owned brokerage, making him the latest “boomerang broker” among the four big Wall Street players.
“Most advisers see all of the wirehouses as interchangeable and, in large part, they are,” said Mindy Diamond, president of wealth-management recruitment firm Diamond Consultants in Morristown, N.J. “For sure there are differences between them, but at the end of the day, they are all big bureaucracies….So, if they are pretty much all the same, then if an adviser realizes that the firm he left wasn’t so bad after all, and he can get paid a transition package as incentive, why not do it?”