Louis Diamond Quoted – By Jacqueline Sergeant, Financial Advisor – The pandemic has weakened, recession has taken a back seat, advisors have eased up on the brakes and recruiters in the independent broker-dealer space are at the ready, or have already begun, to deliver the goods. All signs for record-pace advisor movement within the industry in the months ahead. Louis Diamond discusses the motivations behind these moves…
Knowledgebase for Independent Broker Dealers
A specially-curated collection of content focused on the broker dealer world.
By Louis Diamond, InvestmentNews – An interesting trend is developing amongst the largest and most successful independent broker dealer (IBD) practices. It’s a high-class problem to have—one that we see at every IBD when the top 5–10% of individual practices (those typically generating in excess of $3-5mm of GDC) reach a point where they begin thinking about their end game and how they will monetize their life’s work. They are essentially “growing themselves out of the market.” That is, their practices have reached a point in which there is not a viable successor within their broker dealer network.
By Louis Diamond, WealthManagement.com – The wealth management industry was already evolving rapidly to match the needs of clients and advisors, yet the COVID-19 crisis is likely to accelerate the pace even faster. While each segment of the financial services ecosystem will no doubt be impacted, there’s one area in particular likely to evolve more than others: the Independent broker dealer (IBD) channel.
By Louis Diamond – It’s not surprising that the RIA space often garners the lion’s share of attention both in the media and with advisors considering their next chapter. Yet in a rapidly changing landscape, IBDs have been working hard to evolve their business models and position the firms – and their advisors – for a new chapter of success.
With 30 years under its belt, LPL Financial is undergoing an evolution to what CEO Dan Arnold describes as “the next generation independent model.” Guests Rich Steinmeier and Marc Cohen share some inside baseball on the independent broker dealer’s new direction.
By Mindy Diamond – Every advisor finds himself at this juncture in his professional life: Defining the next steps for his own career and future. When exploring independence and weighing IBD vs RIA options, there are 5 factors to consider.
By Allison Brunwasser – Whether you’re an employee at one of the major firms, an independent advisor with a broker dealer or the principal of your own RIA, acquiring a book of business is a topic that has likely captured some of your mindshare. Yet it’s a crowded marketplace with many competing would-be buyers. The good news is that there are several ways for a buyer to differentiate from the pack—and you may have some already in place.
Infographic on Independence for Financial Advisors: At-a-glance view of the 5 Trends from 2017 that Proved the Resilience and Relevancy of the Independent Space.
By Mindy Diamond and Barbara Herman – The past 12 months within the independent broker dealer (IBD) and registered investment advisor (RIA) space can certainly be defined as a period of growth and increased validation—but not without feeling the disruption of a tumultuous business and regulatory environment.
By Deborah Aronson – Whether you’ve been married to a broker dealer for the past several years and are searching for a new partner, or you’re exploring the independent broker dealer space for the first time, there’s a new set of factors to consider in a post-DOL world.