May 4, 2018 – By Mindy Diamond – WealthManagement.com – Control is driving the virtual tug of war between advisors. It’s an annual ritual for our firm: We gather the team together and take a long, hard look at what transpired over the previous 12 months. Working together, we examine deals both large and small, dissect the headlines, hearsay and study the players—all resulting in an annual report that we make available to professionals in the wealth management industry.
March 22, 2018 – By Mindy Diamond – WealthManagement.com – With an increasing number of advisors leaving Goldman Sachs, it’s time to take notice and understand why. I write a lot about changes in the industry landscape—whether it’s a new business model, relevant trends that we’re seeing, or the headline-gripping announcements from firms. What strikes me about the past 12 months is the frequency and speed of transformation that we’re seeing. Even more striking are the courage and determination of advisors to find the best firm or model to suit their business needs, regardless of the obstacles they may encounter.
February 27, 2018 – By Mindy Diamond – WealthManagement.com – As wirehouses battle to retain control of their channel and maximize profit, expect more advisors to vote with their feet in search of freedom and flexibility. Corporate profit seems to driving the bus these days, and as it rolls along, it’s increasing the distance between advisors and the firms they call home. As a result, advisors are often left feeling as though they’re being forced to choose between maintaining their income level or best serving their clients’ interests.
February 16, 2018 – By Mindy Diamond – WealthManagement.com – In the moments when we need to make a critical decision that could alter everything, the “what if” scenarios often rise to the surface, only to stop us dead in our tracks. Then one of two things happens: You make a decision and move boldly on with your life, or fear takes hold.
February 1, 2018 – By Mindy Diamond – WealthManagement.com – With so much choice in terms of business models and affiliations, advisors have little excuse to stay at a firm that no longer serves their clients or their careers in a way that’s anything short of optimal. Yet the day-to-day of business and relationship management often takes priority, and few rarely stop to take a closer look at their firm.
January 16, 2018 – By Mindy Diamond – WealthManagement.com – In a world where ensuring asset growth and gaining scale is important to every firm, you are on the radar of every recruiter and manager in your market. Of course you should accept the invitations from them. It’s flattering to be wanted, and it’s certainly important to get an understanding of what the competition is doing. The only problem with this approach is that it isn’t strategic.
November 22, 2017 – By Mindy Diamond – WealthManagement.com – When LPL announced their purchase of four National Planning Holdings (NPH) firms, it wasn’t just another day at the office for advisors in the independent broker/dealer space. “I feel like I’m riding a wave of disruptive uncertainty,” one IBD advisor said to me. “Are we next?”
October 24 , 2017 – By Mindy Diamond – WealthManagement.com – Many advisors assume it’s a seller’s market, where they’re in the driver’s seat and have a free pass to act without concern for how they come across to the hiring manager. They often barrel forward with the demeanor of someone who’s ready to fight for the best deal on a new car. But being unkind to recruiters is not likely to get you what you want—a positive attitude is more likely to attract positive results.
September 21, 2017 – By Mindy Diamond – WealthManagement.com – In the past several months, some of the major firms have pulled back on the amount of recruiting they’re doing, and recruiting deals have taken a big hit. While the majority of the rhetoric discusses the potential impact of these lower recruiting packages on the advisors considering a move, the bigger impact may ultimately be on the wirehouse advisors who choose to stay put. That is, those who are taking a “wait and see” approach, hoping that their firms’ plans to recruit less will actually benefit them more.
August 15, 2017 – By Mindy Diamond – WealthManagement.com – Over the last five years, a number of advisors have left the wirehouses and other employee models to go independent. In fact, the asset market share of the wirehouses, national and regional broker/dealers, has declined from about 63 percent in 2011 to nearly 59 percent at year-end 2016, according to Cerulli Associates. At the same time, independent channels—independent broker/dealers, RIAs and hybrid RIAs—saw a jump in market share from about 37 percent in 2011 to 41 percent in 2016.
Recent News & Articles
- A Best-of-All-Worlds Model: Full-Service Independence with Equity Upside
- As Bob Oros-led HighTower reboots, it bags an ex-Goldman RIA, hires two, makes a CMO imminent, and clarifies mission
- RIA buyers challenge private equity for deal dominance
- An Advisor’s Search for the Elusive Utopian Recruiting Deal
- When it Comes to Attracting and Retaining Advisors, Culture Really is King