Howard Diamond Quoted – By Chris Latham, Financial Advisor IQ – Advisors looking to grow business through M&A must look beyond financials at talent retention and cultural fit, say experts who attended Pershing’s regional symposium Wednesday in New York.
Howard Diamond Quoted – By Andrew Welsch, OnWallStreet – Is the wealth management firm of the future one that has both employee and independent advisors?
Howard Diamond Quoted – By Andrew Welsch and Suleman Din, OnWallStreet – Morgan Stanley joined a growing list of prominent corporate brands to suffer a data breach, after it revealed an employee stole the information to as many as 350,000 wealth management clients, and that some of the data was posted online.
Howard Diamond Quoted – By Andrew Welsch, OnWallStreet – Raymond James & Associates recruited an advisor team managing $900 million in assets to open its first office in Manhattan. The four-person advisor team left J.P. Morgan Securities, where they generated $6.7 million in annual revenue. This latest addition is Raymond James’ biggest recruiting grab of the year, and furthers the firm’s growth objectives in the Northeast.
Howard Diamond Quoted – By Trevor Hunnicutt, InvestmentNews – On Oct. 16, 2008, the six-column subheading that crowned the Wall Street Journal cried, “Stocks Post Biggest Drop Since 1987 Crash.” Meanwhile, Merrill Lynch & Co. was reporting its fifth straight quarter in the red — a loss of more than $5 billion for the period — underscoring the deteriorating conditions that preceded its takeover by Bank of America Corp.
Howard Diamond Quoted – By Dave Lindorff, OnWallStreet – There was a time when working as an advisor or a broker was a solitary profession. You might work for a big brokerage or advisory firm, but in terms of building a book and dealing with your clients, you were on your own. Now, increasingly, advisors and brokers are working in teams — teams that they bring together or join on their own initiative.
Howard Diamond Quoted – By Andrew Welsch, OnWallStreet – Asset managers are offering financial advisors more help with business development and practice management in an effort to stand out in a crowded marketplace.
Howard Diamond Quoted – By John Aidan Byrne, New York Post – Headhunter Sanj Hingorani is a 19-year veteran of Wall Street’s brutal multimillion-dollar recruiting wars — and he was “stiffed” by clients. Hingorani is owed about $300,000 in fees, and that’s because of today’s more cutthroat corporate practices, the headhunter says.
Howard Diamond Quoted – By Joan Warner, Financial Advisor IQ – There’s an uncanny connection between the financial-advice business and the military. Big firms enthusiastically recruit veterans as FAs, many offering a special training channel for people transitioning from an armed-services career. The Internet and airwaves resound with the voices of former military personnel drawn to financial and investment coaching. And the mysterious radar that enables members of the different services to recognize one another — even years after they’re out of uniform — creates a vast network of prescreened potential employees.
Howard Diamond Quoted – By Maddy Perkins, OnWallStreet – Wells Fargo has been stepping up its recruitment game. The firm announced it recruited eight advisors who previously managed more than $1 billion in client assets.
