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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

Barclays brokers sniff at Stifel, jump to Merrill

Posted by Howard Diamond

Investment News

Howard Diamond Quoted
By Mason Braswell

Fifteen advisers, including most recently a team in Texas managing $750 million in assets, have fled Barclays Plc U.S. wealth management group in the last month to join Bank of America Merrill Lynch following the announcement that Barclays unit was being acquired by the lesser known Stifel Financial Corp.

“Those are the cherries that they want to have,” said Howard Diamond, a managing director at Diamond Consultants, a placement firm for financial advisers. “When the Stifel deal was announced, advisers weighed the retention package that they’d get from Stifel against a huge upfront package they’d get from Merrill Lynch, so if they’re going to go to a different firm, they might as well go where they want and be paid a lot more money.”

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About Howard Diamond

Chief Operating Officer and General Counsel – A legal and business background combined with over a decade of experience in the wealth advisory space. Already a successful lawyer and litigator, the growth of Diamond Consultants presented a new career opportunity for Howard in 2005. Learn more...

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