January 15, 2019 – Louis Diamond Quoted – By Diana Britton, WealthManagement.com – Private Advisor Group, a hybrid registered investment advisory and office of supervisory jurisdiction of LPL Financial, recently introduced a new affiliation model aimed at luring financial advisors out of the wirehouses and making it easier for them to move to true independence, with an assist along the way powered by PAG. While the model may be a departure for LPL and sets the firm apart from other OSJs in its network, observers say the changes bring it up to par with what some others are already doing in the RIA space.
About Louis Diamond
Executive Vice President, Senior Consultant – Someone who “looks at every angle from a strategic perspective.” Sophisticated advisors and business owners alike learn quickly that they’ve found the right person in Louis when seeking counsel and clarity on growth, career management and the ever-changing industry landscape. Learn more...
Rockefeller Capital puts its third RIA talent anchor in place with hiring of Anthony Grosso in San Francisco and his venture capital connections
December 28, 2018 – Louis Diamond Quoted – By Brooke Southall, RIABiz – Rockefeller Capital Management has hired Anthony Grosso to establish and manage its San Francisco office — the third stanchion of a national build-out. He joins San Francisco-based Christopher Dupuy and will assume the role of chief operating officer for private wealth management.
December 17. 2018 – Louis Diamond Quoted – By AdvisorHub Staff – RBC Wealth Management quietly fattened its hometown forces by recruiting three teams near Minneapolis collectively managing more than $1 billion from wirehouses in the past few weeks, but UBS Financial Services has recovered a broker from the largest-producing group.
December 5, 2018 – Louis Diamond Quoted – By Bruce Kelly, InvestmentNews – After causing an uproar earlier this year with its advisers and brokers, management at UBS Financial Services Inc. should be commended for coming to its senses, paying attention to its field force and reversing an unpopular policy that potentially interfered with advisers’ relationships with their clients.
November 28, 2018 – Louis Diamond Quoted – By Jeff Benjamin, Investment News – LPL Financial has recruited a team managing $300 million from Cetera Advisor Networks, one of six independent broker-dealers under Cetera Financial Group.
November 20, 2018 – Louis Diamond Quoted – By Bruce Kelly, Investment News – Tired of having to pay six-figure bonuses to replace some of their most productive brokers who left for competitors after the financial crisis, Morgan Stanley Wealth Management and UBS Financial Services upended the wealth management industry one year ago by withdrawing from an agreement known as the protocol for broker recruiting. The move was a determined effort to hold onto more of their brokers.
November 7, 2018 – By Mason Braswell, RIABiz – Wells Fargo Advisors has convinced two teams from UBS Financial Services in Ohio cumulatively producing more than $7 million to join its private client group franchise, a retort to the heightened exodus of brokers it has been experiencing.
October 22, 2018 – Louis Diamond Quoted – By Jeff Benjamin, InvestmentNews – LPL Financial has delivered the latest salvo in its bitter rivalry with Cetera Financial Group by recruiting Exemplar Financial Network, a Crystal Lake, Ill.-based firm that supports $3.7 billion in assets under management.
October 2, 2018 – Louis Diamond Quoted – By Bruce Kelly, InvestmentNews – Wells Fargo Advisors has lost hundreds of brokers and advisers over the last two years to rivals in the wake of scandals at its parent bank, but one firm, Benjamin F. Edwards & Co., has perhaps the greatest long-term success in recruiting advisers and employees from the beleaguered brokerage firm.
LPL Financial markets itself as a savior to reps at 14 IBD firms under the ‘precarious’ spell of private equity investors, despite its own private equity past
October 1, 2018 – Louis Diamond Quoted – By Lisa Shidler, RIABiz – LPL Financial has circulated two documents that paint private equity investors as hobgoblins to be avoided by IBDs, while inviting brokers to join LPL, which, ironically, has the same hobgoblins in its past and now answers to demanding stockholders.
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