Howard Diamond Quoted
By Mason Braswell
With the window closing on their ability to offer commission-based retirement accounts at Merrill Lynch, a growing number of firm veterans are jumping to rivals with more liberal policies.
“It’s the lifers who bled Merrill Lynch blue for years and years,” said Howard Diamond, a recruiter in Morristown, N.J. who was not involved in the moves. “It’s not their father’s Merrill Lynch anymore.”
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
