Diamond Consultants - Financial Advisor Recruiters

Insights & Perspectives from Debbie Wallen

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Debbie Wallen

Senior Consultant – Debbie has expertly guided some of the industry’s leading advisors and teams, providing them with a thorough understanding of the landscape while always listening and having their best interests at heart. Learn more...

Most Recent Articles

Edward Jones advisors
What’s Driving All the Advisor Movement Away From Ed Jones?
By Debbie Wallen - Historically, advisors at Edward Jones rarely changed jerseys. They were loyal, felt independent enough, liked the culture and enjoyed the strong brand recognition. But, today, we are seeing more and more Jones’ advisors leaving—and here’s why
When Size Does Matter
By Debbie Wallen - Not that long ago, generating $1mm in revenue was a milestone worth celebrating: Those at this level were considered top of the food chain, and ardently pursued by all major firms. But, in today’s world, it’s the advisors in the “Billion Dollar AUM Club” who garner the lion’s share of attention from firms.
The Final Frontier for Terminated Advisors
By Debbie Wallen - It’s no secret that firms have adopted zero-tolerance policies as a result of the hyper-compliant world we are living in. As such, we are seeing more and more wirehouse advisors being terminated for non-sales related issues – some infractions that many would consider absurd. Even the long-tenured and large producers – who once felt somewhat immune to such scrutiny – are finding themselves facing audits that have lead to unexpected terminations.
Big Things Can Happen in Small Places
By Debbie Wallen - You work in a small market office of a wirehouse firm and are the only game in town—which can have its advantages, like dominating the market place: both a great feeling and economically rewarding.

Most Recent Transition Case Studies

Financial Advisor Transitions from UBS
Transition Announcement: $800mm UBS Team Joins Merrill in Providence, RI
The wealth management team led by Robert Procaccianti, Jared Tack, and Doug Bennet has joined Merrill in Providence, Rhode Island, bringing $800mm+ in client assets from UBS.
Transition Announcement: $270mm Merrill Team Sets-Up Independent Practice with LPL
Breakaway Wealth Management is a young, entrepreneurial team that values simplicity and transparency, with a desire to operate independently and provide a wider range of options and more personalized attention to their clients.

Most Recent Moves in the News

Merrill Loses $1.8 Billion Advisor Team to Wells Fargo, Hires $805 Million Team From UBS
By Andrew Welsch, Barrons - the wealth management unit of Bank of America hired three former UBS advisors: Robert Procaccianti, Jared Tack, and Doug Bennet. The trio signed on with Merrill in Providence, R.I.
LPL Lures $705M Merrill Lynch Team to Private Wealth Mode
by Diana Britton, WealthManagement.com - After 17 years with Merrill, Oklahoma City-based advisors Alain Verhille and James S. Wood are launching Auctus Legacy Private Wealth Management under LPL's employee model for high-net-worth-focused advisors.
LPL Financial’s New Private Wealth Unit Signs Its First Team, With Merrill Recruits
by Ross Snel, Barrons.com - A Merrill Lynch financial advisor team has become the first to join LPL Financial’s Private Wealth Management unit since its launch in November, LPL said Tuesday.
Merrill Departures, Including Sieg’s, Inspired $2.7-Mln Team’s Breakaway to LPL
By Karmen Alexander, AdvisorHub - A Merrill Lynch team whose leader said some other high-producing defections motivated his own exit has taken his $2.7 million group to LPL Financial in Hoboken, New Jersey. 
Raymond James Draws Advisor Team from Merrill Lynch
By Sam Del Rowe, FAIQ.com - Raymond James announced that an advisor team has joined its employee advisor channel, Raymond James & Associates, from Merrill Lynch, where they had about $185 million in client assets.
Merrill Lynch Advisors Managing $560 Million Jump to RBC
By Kenneth Corbin, Barron's – RBC Wealth Management has notched another recruiting win, luring a Florida team with $560 million in client assets away from Merrill Lynch.
RBC Nabs Merrill Team in Florida with $560 Million Book
Debbie Wallen Quoted, By Miriam Rozen and Mason Braswell, AdvisorHub – RBC Wealth Management-U.S. has reeled in a Merrill Lynch Wealth Management team of three brokers in Winter Park, Florida, who had managed roughly $560 million in assets, an RBC spokesperson confirmed.
Duo managing $740 million join LPL’s employee channel
By Investment News - Kyle Smith and Michael Sandlin, who managed $740 million at Truist Investment Services in Raleigh, North Carolina, have joined Linsco, the employee channel of LPL Financial.
Wells Recruits $3.5-Mln UBS Family Team, Million-Dollar RBC Producer
By Vicky Ge Huang, AdvisorHub - Some of the brokerage industry’s most aggressive recruiters illustrated in the past week that their transition teams continue to operate during the pandemic as part of their broader business continuity plans.
Merrill Lynch Team Bolts for Raymond James
By Alex Padalka, Financial Advisor IQ - As Merrill Lynch reports that its advisor ranks dipped slightly in the second quarter 1% from the previous year, the wirehouse lost a team of brokers to Raymond James, according to Raymond James.
UBS Loses Veteran Financial Advisor to Ameriprise
By Alex Padalka, Financial Advisor IQ - Ameriprise Financial has nabbed a veteran financial advisor from UBS Financial Services, according to a press release from Ameriprise.
NPH, LPL practices bring 20 more advisors to Securities America
Debbie Wallen Mentioned - By Tobias Salinger, Financial Planning - Securities America nabbed two more practices from National Planning Holdings to bring its total haul from NPH to more than 215 advisors with $8 billion in client assets following the LPL Financial deal. A major hybrid RIA practice with Securities America also added a sole practitioner from LPL as part of three moves consisting of 20 advisors managing a combined $716 million, the firm announced this week. The suburban Omaha, Nebraska firm constitutes the ninth-largest independent broker-dealer.