By Louis Diamond – The reality is that we are in the midst of a “seller’s market”, and as such, there are plenty of firms that would benefit from M&A, yet the fact remains that many of these potential sellers don’t really have a clear picture of how much their businesses are worth, let alone the benefits they may gain from a merger or acquisition. Whether an advisor is the owner of his own firm or an employee at a major brokerage firm, these 7 areas provide key markers that drive enterprise value.
About Louis Diamond
President – 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...
LPL fires $10 billion RIA in Kansas City with both parties happy to keep the rift’s cause out of view
Louis Diamond Quoted – By Janice Kirkel, RIABiz – Just months after LPL Financial got its walking papers from a $2.2-billion AUA hybrid, the Boston-based IBD has fired a $10-billion firm under circumstances shrouded in mystery. Louis Diamond, vice president of Diamond Consultants in Morristown, N.J., says LPL has recently stepped up its separations from associated firms and speculates that it may be part of a larger policy decision.
Louis Diamond Quoted – By Charles Paikert, Financial Planning – Advisor Group’s future appears to be running through the wirehouses. Price’s hire “signals a new direction in Advisor Group’s recruitment strategy,” says Louis Diamond, vice president of the New Jersey-based recruiting firm Diamond Consultants. “By bringing on a seasoned UBS executive, it seems as if they will begin targeting breakaway wirehouse advisers more aggressively.”
Louis Diamond Quoted – By Bruce Fraser, Financial Planning – What does it take to make a merger work in the rapidly consolidating registered investment adviser industry?
Louis Diamond Quoted – By Andrew Welsch, OnWallStreet – My first interview with Stifel’s CEO was canceled at the last minute. We were due to talk about his M&A deals and vision for the firm’s future, but an assistant called me in the morning to say he needed to reschedule.
Louis Diamond Quoted – By Alex Padalka, Financial Advisor IQ – The Department of Labor’s guidance on the fiduciary rule has caused Morgan Stanley to do away with the back-end part of broker recruitment packages, the Wall Street Journal reports. The move, which may be followed by other large brokerages, could drastically reduce the size of recruitment offers for experienced advisors, according to the paper.
Louis Diamond Quoted – By Michael Wursthorn – The Wall Street Journal – Morgan Stanley will scale back the recruitment loans it offers to attract rival brokers to comply with new retirement regulations, and competitors Merrill Lynch and Wells Fargo & Co. are weighing similar moves, underscoring the far-reaching impact the rules are having on the multitrillion-dollar financial-advice industry.
Louis Diamond Quoted – By Ralph Ortega, Financial Planning – In its plan to buy Scottrade, TD Ameritrade is making a big push into the retail space, potentially quintupling the number of it client-facing offices. The greater scale that TD Ameritrade offers also should put Scottrade’s RIAs in a better position to face any legal challenges arising from the Labor Department’s new fiduciary rule, experts say. “From Scottrade’s perspective, you’re spreading out any potential litigation costs,” says Louis Diamond of Diamond Consultants in Morristown, New Jersey.
Louis Diamond Quoted – By Paul Katzeff, Investor’s Business Daily – You are hot. Your client book is growing. Now you are considering establishing your own practice, either by yourself or with one or two trusted colleagues. A key question you face is how to handle the tasks that a broker-dealer tackles.
By Louis Diamond – R-I-A: These three letters are dotted across industry publications and conference agendas, and on the minds of most advisors (especially post-DOL ruling), but why all the hype? And, why are we watching so many long tenured top advisors and teams moving in that direction?
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