Louis Diamond Quoted – By Lisa Shidler, RIABiz – Howard Milstein is finally showing his strategy to out-Hurley Mark Hurley at the helm of the company Hurley led for 17 years. He’s being friendlier to both new deal targets and existing RIAs alike in an effort to eliminate “some of the friction” caused by Hurley’s stringent deal terms.
By Mindy Diamond, WealthManagement.com – There was a time not so long ago when top advisors who served the ultra-wealthy would never have considered leaving behind the big brand names upon which they built their businesses to strike out on their own. It was a common belief that no other firms but the big brokerages could support the unique needs of their high-net-worth clients.
Louis Diamond Quoted – By Oisin Breen, RIABiz – When Wayne Bloom last cast the bones, he faced an existential dilemma: cannibalize his own business to save its much vaunted technology, or watch it wither on the vine as costs mounted.Then, just over a month ago, the CEO of Commonwealth Financial Network announced his decision, four years in the making.
Louis Diamond Quoted – By Mark Schoeff Jr., InvestmentNews – Brokers leaving firms could more easily hang on to their clients and avoid being disparaged by their former employers under recent Finra guidance. The guidance will also clarify for clients their options when a broker leaves, according to Louis Diamond, executive vice president of Diamond Consultants, a recruiting firm.
Louis Diamond Quoted – By Bruce Kelly, InvestmentNews – Merrill Lynch’s plan to seat up to 300 young advisers in branch offices with its most experienced and profitable financial advisers could be a boon to business, with referrals flying back and forth, or it could backfire and add unnecessary friction among its sales force, according to industry observers.
Louis Diamond Quoted – By Alyson Velati, FundFire – Merrill Lynch Wealth Management is changing its regional coverage model to focus on growth potential in a move to dedicate more resources to parts of the country where new wealth is being generated.
Mindy Diamond Quoted – By Jason Bisnoff, Fund Intelligence – With the rise of aggregator firms looking to buy up wealth managers, and others offering outsourced support, the number of options for adviser firms looking to either grow their businesses or cash in their chips has never been greater. However, the plethora of options can also create headaches for firms trying to navigate the range of complex offers and opportunities to make sure they are making the right decisions for themselves and their clients.
Louis Diamond Quoted – By Ian Wenik, Citywire – If you asked Rudy Adolf, chief executive of RIA roll-up Focus Financial Partners, he’d say that his firm can just go on and on making acquisitions. ‘Merger opportunity is almost infinite,’ Adolf said in March at the Raymond James Institutional Investors conference.Louis Diamond, an executive vice president at advisor recruiting firm Diamond Consultants, is in Adolf’s corner. Expanding internationally is the next logical step, he explained.
PR Newswire – New York Private Bank & Trust (NYPB&T), through its subsidiary Emigrant Partners, has made an investment in NorthRock Partners, the Minneapolis-based advisory firm that provides a host of exclusive client service offerings to the Midwest’s most discerning and affluent families.
Louis Diamond Quoted – By Charles Paikert, Financial Planning – Anne Marie Stonich knew she had to make a change. After five years at Brighton Jones, a large Seattle RIA, Stonich and two colleagues at the firm wanted to run a business their own way.
