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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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Perspectives Blog

Perspectives

Our weekly insights for advisors: Articles authored by our team designed to broaden your perspective and arm you with knowledge—because knowledge is power.

What compels breakaway advisors to go around “the wall”?

What compels breakaway advisors to go around “the wall”?

By Mindy Diamond – While the momentum towards independence seems to have increasing traction, the independent world is definitively not for everyone. To be sure, there are plenty of risks and roadblocks that would deter most advisors from leaving the security of their brokerage firms—and in many cases, far more than what might make them actually make the leap.

The Real Beneficiaries of Independence: Your Clients

The Real Beneficiaries of Independence: Your Clients

By Louis Diamond – The conversations around movement to the independent space often center around the “big picture”: The opportunity for an advisor to get out from under the auspices of a larger firm to build an enterprise and legacy based on his own vision and terms.

Meet the New Acquirers: Familiar Faces with Deep Pockets and New Motivations

Meet the New Acquirers: Familiar Faces with Deep Pockets and New Motivations

By Mindy Diamond – While there is no shortage of hungry and capable acquirers for well run, compliant and growing independent businesses, sometimes the best acquirer can be a big firm with deep pockets, robust resources and platform, cutting edge technology, turnkey access to specialists, senior leadership, and virtually anything the business may need to support it.

Stop Feeling Pushed: 6 Steps to Leveraging the Positive Pulls

Stop Feeling Pushed: 6 Steps to Leveraging the Positive Pulls

By Mindy Diamond – Like most of us, advisors consider change for a multitude of reasons, yet we find that most of these can be placed into one of two categories: Push or Pull. The “push” category is built of those things that cause frustration and make us feel out of control. “Pulls,” on the other hand, are those things we want or desire.

How to Maximize Growth When Adding One Client at a Time No Longer Seems Like Enough

How to Maximize Growth When Adding One Client at a Time No Longer Seems Like Enough

By Deborah Aronson – Growth doesn’t happen by accident—it begins by knowing where you are today and where you want to be tomorrow. If you’re an advisor at a wirehouse, you’re likely limited to growing organically; that is, one client at a time. But for those who really want to turbocharge their growth and take it up a few notches, organic growth alone is typically not enough.

The 3-Year Challenge: Is your firm still right for you?

The 3-Year Challenge: Is your firm still right for you?

By Mindy Diamond – With an industry landscape that offers more choice and opportunity than ever before, advisors have little excuse to be living anything but their best business lives. Yet day-to-day relationship management and investment decisions take priority, so few rarely stop and take a close look at whether or not where they are is still serving their clients and business best—especially if they are not all that unhappy.

The Bigger the Team, the Bigger the Obstacles

The Bigger the Team, the Bigger the Obstacles

By Barbara Herman – The movement of billion dollar premier wirehouse teams has become part of the industry’s new normal. Consider Paul Feinstein’s move from UBS to First Republic, or Matthew Celenza’s move from Merrill Lynch to Dynasty. Headlines aside, what many don’t realize is how much goes into moving behemoth teams like these. Ultimately, what we find is that the bigger the team, the bigger the obstacles they are likely to encounter.

What Every Advisor Wants: The 4-Legged Stool

What Every Advisor Wants: The 4-Legged Stool

By Louis Diamond – Going independent seems to be the loudest buzz these days. It’s clearly where the puck is heading for more and more wirehouse teams—especially since 3 of the 4 major firms have announced plans to pull back on recruiting (at least for now). However, while the basic tenets of independence – autonomy, flexibility, control, creativity, superior take-home economy, empowerment – are particularly appealing to many, it is near impossible for the majority of even the most entrepreneurial advisors to get from “here to there”.

In the Spirit of Independence

In the Spirit of Independence

If you are an advisor who is looking for a greater level of freedom and a chance to build what our forefathers saw as the American dream – that is, a business based on choice, flexibility and an opportunity to build equity for your future – then you’ll want to read these articles.

Risk vs. Reward: Why Non-Protocol Teams are Taking a Giant Leap to Independence

Risk vs. Reward: Why Non-Protocol Teams are Taking a Giant Leap to Independence

By Mindy Diamond – In the past 2 months or so, we saw 4 big Goldman Sachs teams leave the vaunted firm, with 3 out of the 4 going independent. Historically, advisors from non-Protocol firms – especially those with garden leave provisions like the one Goldman Sachs puts in all its employment contracts – would never have considered the independent space.

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