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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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The IBD World

From the Eye of the Beholder: How Attractive is Your Firm to a Seller?

From the Eye of the Beholder: How Attractive is Your Firm to a Seller?

By Barbara Herman – Every wealth management firm seems to fancy itself a buyer, yet most are unsuccessful in their efforts to acquire, even after years of trying. So what’s missing? Where are they going wrong?

Surprise: You’ve Been Terminated!

Surprise: You’ve Been Terminated!

By Mindy Diamond – The new hyper-compliant world has left many advisors with a pink slip in hand, thinking they have reached the end of their careers. Yet there are steps a terminated advisor can take to get back in business.

The Impact of Conversation

The Impact of Conversation

By Howard Diamond – It seems easier than ever to communicate with others: The Internet, smartphones, texting and social media, each at the ready to comment, share and respond. Yet for all of the communicating that we do, real “conversation” seems to be a less frequent occurrence. Pile on the barrage of headlines and rhetoric – especially those we’ve been seeing regarding the elections and the DoL rule – and people tend to react rather than engage with one another. So it was refreshing to attend Schwab IMPACT a few weeks back.

The Enduring Appeal of the Independent Broker Dealer

The Enduring Appeal of the Independent Broker Dealer

By Barbara Herman – Advisors are increasingly interested in exploring the independent space (we have written extensively on this subject) in search of a better way to serve their clients with freedom, flexibility and control. While new independent solutions have been created to support the needs of very complex businesses, it’s important not to overlook the tried and true independent broker dealer (IBD) model.

DOL FAQ #12 and its Impact on Recruiting

DOL FAQ #12 and its Impact on Recruiting

By Mindy Diamond – Yesterday the DOL issued a set of FAQs relative to the new Fiduciary Rule—mostly related to the BIC exemption. But, FAQ #12 specifically addressed recruiting deals, stating that the “large back-end revenue and asset awards which are expressly contingent on the advisor’s achievement of sales or asset targets can create acute conflicts of interest,” and are in violation of the Rule’s intention.

The Post-DOL World: Its Likely Impact on Recruiting Deals

The Post-DOL World: Its Likely Impact on Recruiting Deals

By Mindy Diamond – Advisors have long held on to the certainty that when, and if, they were ready to change jerseys, they could do so and be paid the record-level deals that exist today. Everyone thought that we recruiters were crying wolf when we said, year after year, that at some point the gravy train would end and if you had a move in you, we strongly suggested making it sooner rather than later. While some advisors heeded our warnings, most believed that the rivers of wealth would never dry and that deals would just keep rising.

Independent Partnerships

Independent Partnerships

By Howard Diamond – The Broker Disclosure Rule and DOL Fiduciary Rule – coming this November and next April respectively – are perceived by many as game changers in the financial advisory space. Suffice it to say, the educational communication that advisors and firms must disseminate to clients if a move occurs after November 11, 2016 – along with the spate of requirements and regulations that continue to be promulgated in anticipation of the DOL Fiduciary Rule for next year – can be mind-numbing. This is especially so for smaller independent firms or for advisors thinking about moving to an independent model.

Looking at Your Future With a Beginner’s Mind

Looking at Your Future With a Beginner’s Mind

By Deborah Aronson – Zen Buddhism teaches the concept of a “beginner’s mind”—meaning to have “an attitude of openness, eagerness and a lack of preconceptions just as a beginner would.” It’s that state of mind you exhibit any time you embark on something new: While there’s a clear sense of purpose, the mind is uncluttered and open to all possibilities.

Robo Advisors: Friend or Foe

Robo Advisors: Friend or Foe

By Barbara Herman – The robo advisor phenomenon is clearly gaining momentum across the industry, from the major brokerage firms and banks to standalone RIAs. As this new technology-driven model is becoming more prevalent, advisors are beginning to question the impact of the new trend on their ability to grow, to service clients and to remain competitive.

Looking for Strength – and Some Security – in Numbers

Looking for Strength – and Some Security – in Numbers

By Barbara Herman – It seems to be the latest phenomenon: Advisors who are contemplating a move entertain the idea of assembling a group of unrelated advisors – friends with whom they’ve discussed the idea, colleagues they don’t currently partner with and even advisors from other firms – and moving en masse to a common destination.

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