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

Bob Oros of HighTower calls protocol exit ‘form over substance’

Posted by Mindy Diamond

May 15, 2019
Mindy Diamond Quoted
By Jeff Benjamin

HighTower Advisors put an exclamation point on its move away from recruiting breakaway brokers this week by officially exiting the broker protocol.

“It’s a little bit of form over substance,” said Bob Oros, chief executive of the $50 billion RIA consolidator.

Mindy Diamond, president of the recruiting firm Diamond Consultants, agreed that HighTower’s shift away from recruiting made the protocol unnecessary.

“They have pivoted on strategy and are no longer in the wirehouse recruitment game,” she said. “If they’re not recruiting out of traditional brokerage firms and focusing solely on acquisition of established RIA firms, then they really don’t need to be in protocol. And pulling out of it allows them to protect their investments in those advisers currently associated with them.”

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About Mindy Diamond

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...

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