By Mindy Diamond – I am not a conference person. I always feel like I am most productive when in my office or meeting with advisors on their turf. But, I have to say that I was proven wrong this past week in Denver when I attended the mega custodian’s big event of the year where more than 5000 people, 1600 of them RIAs, converged upon the Mile High City.
Our weekly insights for advisors: Articles authored by our team designed to broaden your perspective and arm you with knowledge—because knowledge is power.
October 29, 2014 – By Mindy Diamond – By Mindy Diamond – The landscape of the financial services industry continues to expand and create new and legitimate landing pads for top advisors that service the high net worth set. If you think about the landscape as a horizontal line, a continuum of sorts, then the wirehouses sit at the far left, followed by regional firms, boutiques like Credit Suisse and Barclays, and any other employee based model.
Diversity Management Opportunities Are you a financial professional who has a desire to enter management for the nation’s premiere wealth management firm? Our client is seeking top diversity candidates for their management and sales leadership positions nationwide. Successful candidates do not need to have prior management experience; only the desire...
By Mindy Diamond – What makes a big team move? What could be the catalyst powerful enough to make advisors managing more than $1B in assets leave the comfort of a very familiar nest to undertake the herculean effort of changing firms? Could the money alone be a powerful enough motivator? Everyone reads about a big move when it happens but what the press reports is usually only a select snippet of the reasoning behind it.
By Mindy Diamond – “I love being an advisor and have built a great practice. My business generates more than $3mm in annual fee based revenue and it affords me a lifestyle far better than I ever imagined. I have a top notch staff and wonderful clients with an aggregate $550mm in assets under management.” Perhaps change the stats but I’m betting that this sounds familiar to you- and what a wonderful position to be in.
By Mindy Diamond – It started as a trickle just after 2008 when as a whole wirehouse advisors became disenchanted with their firms and exceedingly mistrustful of the folks who ran them. Teams of advisors like The LLBH group, formerly of Merrill Lynch in Westport, CT and The Nick Bapis Group, formerly of Morgan Stanley, chose to forego the outsized transition checks being offered them from competitor organizations and go some version of independent with firms like Focus Financial Partners and HighTower Advisors, respectively.
By Mindy Diamond – Banyan/Boston Private deal makes every financial advisor pay attention.
By Mindy Diamond – As a firm that works with top of the food chain advisors, we have not seen a slowdown at all. The statistics representing total advisor moves may show that fewer advisors have made moves in 2014 vs. the same period of time last year, but make no mistake, the momentum is great.
Diamond Consultants has created a proprietary tool that helps sophisticated financial advisors through the decision making process when considering a change of firm or model. The tool is depicted as an infographic and is called “Strategic Exploration and the Road to Taking Control of Your Professional Destiny.” Mindy Diamond, President...
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