By Mindy Diamond, WealthManagement.com – These days, advisors have more choices than ever when it comes to business models, making the decision that much more difficult. Which one best suits you?
In the News
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Mindy Diamond Quoted- By Megan Leonhardt, WealthManagement.com – The RIA M&A market is poised for growth, but not gaudy growth. While the RIA mergers and acquisitions market is poised for growth, the number and size of the deals are likely to make a slow (but steady) climb back to pre-recession rates; few expect a fury of dealmaking.
Mindy Diamond Quoted, The Wall Street Journal – Going independent is a dream of some financial advisers. But there is often plenty of fear mixed in as advisers contemplate breaking away from a big brokerage firm. They may worry that their clients won’t follow, they’re not qualified to run a business or their earnings will shrivel.
HighTower back in the market with big Merrill team addition after Q4 hiatus, firm adds Philly area team managing $650M in assets
Mindy Diamond Quoted – By Andrew Osterland, InvestmentNews – After a fourth-quarter hiatus from adding new adviser teams, HighTower Advisors LLC is back in the market. The private-equity-backed partnership of advisory practices Tuesday announced the addition of its largest team of advisers in the past six months, signing on the Sarian Group — a pair of Bank of America Merrill Lynch advisers managing $650 million in assets.
HighTower Grabs Sought-After $650mm Merrill Lynch ‘Life Sciences’ team and Shrugs off Recent Deal Slowdown
Mindy Diamond Quoted – By Lisa Shidler, RIABiz – HighTower Advisors LLC is officially back in the deal-making business, grabbing its largest breakaway in six months — a Philadelphia-area team with $650 million in assets. HIghTower announced Tuesday that Gregory C. Sarian and Francis X. Masse II of The Sarian Group joined the firm as partners and managing directors. They left Merrill Lynch on Friday to join the Chicago-based RIA and combined have more than 35 years’ experience in the financial services industry. The assets are now primarily with Schwab Advisor Services for custody and Black Diamond is the chosen performance reporting system provider.
How My Experiences with RIA Pioneers, and the Love of My Mother, Inspired Me to a Different Breakaway Story
Mindy Diamond Mentioned – By Jason Lahita, RIABiz – I remember when I first interviewed with Joe Duran as he was forming United Capital Financial Advisers and working out of one of those rent-an-office spaces just off the UCLA campus in the Westwood section of Los Angeles. It was the size of a big broom closet. He tossed me the manuscript for “Start It, Sell It & Make a Mint” (Wiley, 2004), his latest book at the time, and told me to go read it, then come back and tell him what I’d learned. I honestly can’t remember what transpired in the second interview. Suffice it to say that I convinced him of my reading comprehension ability and won a job as his right-hand man.
Mindy Diamond Quoted – By Joyce Hanson, ThinkAdvisor – Recruitment momentum in the registered investment advisor (RIA) and regional space should jump higher in 2013 after a slow 2012, as advisors in search of independence are now sufficiently prepared to make a move, recruiter Diamond Consultants reported Wednesday.
Mindy Diamond Quoted – By Jeff Schlegel, Financial Advisor Magazine – Mindy Diamond, president and CEO of her namesake recruiting firm in Chester, N.J., characterizes 2012 as an average to down year for advisor transitions and says the humdrum pace was attributed to several factors, such unforgiven wirehouse retention packages that keep advisors tethered to their current employer.
Mindy Diamond Quoted – By Lisa Shidler, RIABiz – M&A activity still sickly slow by some reckonings, but harbingers of mating activity abound. Mindy Diamond, founder and chief executive of Diamond Consultants LLC, agrees that 2012 was sleepy but she believes that it is the yawn that refreshes.
By Mindy Diamond, InvestmentNews – ROB is a wirehouse adviser based in the Pacific North-west who has spent a professional lifetime with the same firm. He was 25 when he joined the wirehouse almost 30 years ago, and he earns a living that has far exceeded his wildest expectations. Over the years, he has largely been content. He has felt a sense of loyalty to his firm because he believes it has brought him a level of credibility and respect that he might not have gained elsewhere.
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