Wendy Leung Quoted – By Judy Ward, PlanAdviser – The rapid pace of advisory business merger and acquisition (M&A) deals will continue in 2022, experts say. “The pressures of COVID-19, and the potential change in the capital-gains tax rate, have really driven the outsized amount of activity we’ve seen this year,” says Wendy Leung, senior consultant at Diamond Consultants, a recruiting and business consulting firm for financial advisers, located in Morristown, New Jersey.
For Max Peckler, this transition was much more about the strong pull towards a better place to serve clients and grow his business—rather than the push away from UBS. While he built an extraordinary business over nearly 2 decades at UBS – landing on the Forbes America’s Top Wealth Advisors list and taking #2 for Best in State of Massachusetts in 2021 – Max felt he hit a ceiling in terms of how he could grow his business and serve clients.
BusinessWire – First Republic Bank, a leading private bank and wealth management company, today announced that Max Peckler has joined First Republic Investment Management in Boston. Peckler was named Managing Director and Wealth Manager. He will provide portfolio management, retirement planning, investment consulting an
By Mason Braswell, AdvisorHub – The veteran broker recruiting market showed no signs of cooling off this fall as First Republic Bank’s private wealth unit on Friday landed a $7.5 million solo practitioner from UBS Wealth Management USA in Boston, according to two sources familiar with the move.
Hammond Han, a 33-year industry veteran, led the Liberty Capitol Group while at UBS. Uncertain about UBS’s long-term vision and commitment to its US wealth management unit, the Liberty Capital Group chose to move to Morgan Stanley to better serve their high net worth client base and run the practice more efficiently.
By AdvisorHub Staff – Morgan Stanley Wealth Management continues to flex its recruiting muscle and has snagged a six-advisor team from UBS Wealth Management USA in Washington, D.C. that had managed $1 billion in client assets, according to a person familiar with the moves.
Mindy Diamond Quoted – By Patrick Donachie, WealthManagement.com – Merrill Lynch Wealth Management is amending its current policy governing how much payout advisors keep for retaining accounts previously under advisors who departed the firm for other companies or retired, according to a senior Merrill Lynch executive detailing changes to the company’s compensation structures in the coming year.
Mindy Diamond Interviewed – By Steve Garmhausen, Barron’s – As one of the highest-profile recruiters in the wealth management industry, Mindy Diamond knows ruffling feathers in Wall Street’s C-suites is part of her job. “Yeah, they get pissed off at me sometimes,” says Diamond, who founded Diamond Consultants 25 years ago.
Louis Diamond Quoted – By Lynnley Browning, Financial Planning – Financial advisors increasingly want to work for themselves. “Newly independent advisors often become so intoxicated by opportunity (establishing ancillary business lines, M&A opportunities, participating on social media and in the press and literally screening out hundreds of vendor options) that they sometimes lose sight of the basics.
Stephen J. Groth, Patrick M. Cummings, Robert Chavez and Katrina R. Stump managed $1B in client assets and were all “Merrill lifers” with a collective 73 years of experience at the firm. But changes both at Merrill and throughout the industry landscape prompted the team to proactively perform due diligence, with the goal of determining whether they were best positioned to service their clients in the future.
