January 20, 2016 – By Mindy Diamond, WealthManagement.com – We know it’s coming, but we’re not sure when or how bad it will be. That’s how a lot of advisors currently feel about the Department of Labor’s pending fiduciary proposal for retirement accounts. Regardless of whether or not you service retirement accounts, everyone is likely to be subject to greater compliance oversight.
In the News
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January 6, 2016 – Mindy Diamond Quoted – By Lisa Shidler, RIABiz – Joan Khoury has landed at Oppenheimer & Co. Inc. with an wide-ranging marketing challenge — developing a new image for a dusty, half-forgotten mom-and-pop wirehouse that still manages to use its small size to big advantage. In light of this, calling in a branding expert may only scratch the surface of Oppenheimer’s problems, says Mindy Diamond, principal of Diamond Consultants in Morristown, N.J.
December 28, 2015 By Mindy Diamond In today’s M&A-rich environment, many advisory firms are looking to get in on the action. But most would-be buyers and sellers come up empty because of unreasonable expectations. Of the hundreds of advisory firms we connect with, most consider themselves buyers. They believe they have built a great firm […]
December 16, 2015 – Mindy Diamond Quoted – By Hugh Son and Dakin Campbell, Bloomberg – Wells Fargo & Co. has made it easy for Credit Suisse Group AG private bankers to join the San Francisco-based lender. Leaving, however, is another story. One of the few advantages of a lengthier deal would be that bonus payments are spread over a longer period, lowering advisers’ taxes in any given year, said Mindy Diamond, president of Diamond Consultants LLC, a Morristown, New Jersey-based executive-search firm.
December 3, 2015 – Mindy Diamond Quoted – By Ralph R. Ortega, OnWallStreet – Raymond James will buy Deutsche Bank’s U.S. wealth management business and operate the boutique under the Alex. Brown brand, both firms said. “(Raymond James) is a fabulous firm and makes a great home for the right advisor. Many of the (Deutsche Bank) advisors will feel lucky to become part of an organization that is all about culture and that truly values their employees,” said Mindy Diamond, president of Diamond Consultants.
November 30, 2015 – Mindy Diamond Quoted – By Megan Leonhardt, WealthManagement.com – The Securities and Exchange Commission recently approved the Financial Industry Regulatory Authority’s plan to reduce the previously established 15-day waiting period to publish details of advisor terminations and investigations on its BrokerCheck system, according to a regulatory notice published Monday.
November 27, 2015 – By Mindy Diamond, WealthManagement.com – The emotional and financial freedom many advisors have been waiting for is set to arrive in early 2016. That’s when the notes attached to many retention packages—offered in the wake of the 2009 financial crisis to more than 5,000 advisors at the wirehouse firms—are set to expire.
November 23, 2015 – Mindy Diamond Quoted – By Ralph R. Ortega and Paul Hechinger, OnWallStreet – The total number of financial advisors in the U.S. increased by 1.1% last year, the first uptick in nine years, according to a new report by Cerulli Associates.
November 5, 2015 – Louis Diamond Quoted – By Todd C. Frankel, The Washington Post – Please don’t call them robo-advisers. “That’s obviously a derogatory term,” says Adam Nash, president of Wealthfront.
October 29, 2015 – Howard Diamond Quoted – By Michael Wursthorn And Joann S. Lublin – Dozens of top brokers from Credit Suisse Group AG’s U.S. private-banking unit are unhappy over their proposed recruitment by Wells Fargo & Co., creating an opening for rival brokerages to poach them, people familiar with the matter said.