In part 2 of 2, Eric Poirier, CEO of Addepar, explores the ongoing role technology plays in the different stages of a business, as well as a firm’s valuation, and what independent firm owners need to consider as their businesses and clients evolve.
About Mindy Diamond
President and CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...
By Mindy Diamond, WealthManagement.com – Advisors who are exploring their options will be the first to tell you: The world of recruiting has changed quite a bit in recent years. Just two years ago, the buzz was all about Morgan Stanley and UBS pulling out of the Protocol, which firms would be next and how it would change an advisor’s ability to move. Ultimately, advisors moved anyway.
One of the industry’s leading voices, Michael Kitces, joins Mindy to discuss the fundamental shifts in the wealth management industry, the leveling of the playing field and what advisors need to do to differentiate, compete and thrive.
Mindy Diamond Quoted – by Mason Braswell, AdvisorHub – A team of Goldman Sachs brokers in Seattle with $10 million in production have joined Morgan Stanley’s private wealth group, a sign of wirehouses’ willingness to selectively hire mega-producers even as they tighten their operational belts. David Midgley, who was responsible for about 90% of his three-advisor team’s revenue in the past 12 months, arrived at the wirehouse two weeks ago. He had been with Goldman since 2005, according to his BrokerCheck history.
Mindy Diamond Mentioned – By AdvisorHub – AdvisorHub is pleased to announce that Mindy Diamond on Independence, the podcast series created by the President and CEO of Diamond Consultants, one of the industry’s leading financial advisor consulting and recruiting firms, will now be available to listeners on AdvisorHub.com.
By Mindy Diamond – Certainly, none of us are getting any younger—and no one wants to make their life more challenging as they edge closer to what could be the cusp of their career.
By Mindy Diamond – For a financial advisor to justify a move to another firm or model, the pain of staying must be significant, but there must be an option waiting that positively impacts these 3 key areas.
Tech is now essential in the battle to recruit and keep wealth talent. Deutsche Bank and Morgan Stanley execs gave us their pitch.
Mindy Diamond Quoted – By Rebecca Ungarino, Business Insider – In the wealth management industry, where competition for adviser talent is fierce, candidates looking to make a jump are grilling firms about their technology. Deutsche Bank is launching a new tool this summer to help bring wealth clients onboard more quickly, and Morgan Stanley in May rolled out online scheduling for clients and advisers to set appointments or video conferences.
Mindy Diamond Quoted – By Jason Bisnoff, Fund Intelligence – First Republic has added a four-person team from UBS to join the firm’s bank branch office in Paramus, New Jersey. Kieran Lynch, Jack Inserra, Craig Kaufman and Joel Kaufman join First Republic Investment Management after serving as Saddle River Wealth Management at UBS for more than 12 years. The team was producing $3.6m in fees and commissions and managed around $550m at UBS, according to Advisor Hub.
By Mindy Diamond, WealthManagement.com – Big brokerage firms have long encouraged advisors to form teams. For advisors, there is strength in numbers when it comes to serving clients and building their businesses. For the firms they work for, teams represent a business advantage and a hidden retention strategy. It’s thought to be harder to recruit away a group of advisors than it is an individual, as the various personalities, goals and risk tolerances of a team can be more challenging to solve for.