Breakaway broker deals a drag on M&A activity in third quarter
November 7, 2017
Mindy Diamond Quoted
By Jeff Benjamin
A recent slowdown in the pace of reps leaving brokerage firms is seen as largely responsible for the sudden dip in merger and acquisition activity in the advisory space, according to the latest report from DeVoe & Co.
The question now, is whether a wirehouse trend away from broker protocol will spark a fresh surge in breakaway activity.
Mindy Diamond, president of the recruiting firm Diamond Consultants, believes the potential for more firms abandoning protocol “absolutely will drive breakaway movement.”
The protocol trend “shows firms are looking to further marginalize reps and take away more control,” she added.