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

Independence: Myths and Misperceptions

Independence: Myths and Misperceptions

By Wendy Leung – Many advisors appreciate the merits of independence including open architecture, the lack of proprietary products and the control they gain over pricing, account minimums and the client service model; yet many will remain in the employee world since they perceive roadblocks that can’t be solved for. Oftentimes this is a case of misperception.

The Search for Mr. or Ms. Right

The Search for Mr. or Ms. Right

By Mindy Diamond – What does the principal of a successful RIA do when he is likely 5 years away from partial or complete retirement and the appropriate successor for his/her business has not yet been identified?

How to Turn Your Practice into a Business

How to Turn Your Practice into a Business

By Mindy Diamond – Who are the independent firms that have the greatest enterprise value—the ultimate worth of one’s life work? They are the ones that have solved for predictability of revenue, profitability, growth, streamlined operations, have a solid return on assets, achieved scale, and probably most important, solved for succession by broadening equity ownership beyond the original founder(s).

The Top 5 Reasons Why Advisors in the IBD World are Going RIA…

The Top 5 Reasons Why Advisors in the IBD World are Going RIA…

By Mindy Diamond – Ask any Business Development Officer from any custodian or service provider to the RIA space and they will tell you that the vast majority of their new business is coming from those in the Independent Broker Dealer (IBD) world. I was surprised to hear this too—until I realized that a large percentage of the advisors we are working with are independent with broker-dealers and looking to us to help them assess whether a move to the hybrid/RIA space makes sense.

Walking off into the sunset: Is it an ending or beginning?

Walking off into the sunset: Is it an ending or beginning?

By Mindy Diamond – You’ve spent a professional lifetime building a thriving business. You worked hard for your clients – many of whom are friends and family – to both protect and build their assets. Now it’s time to think about the legacy you want to leave; not only who will replace you as steward and who will go on to serve your clients, but also how you will monetize your life’s work.

Partnership Values: It’s a Relationship-Business

Partnership Values: It’s a Relationship-Business

By Barbara Herman – What happens when partners no longer share the same vision? Does a lack of consensus about the future mean the end of the relationship? Advisors are seeing more value in partnerships than ever before, acknowledging that it has become extremely challenging to be a sole practitioner and motivating many to join forces with other like-minded professionals.

But I still haven’t found what I’m looking for

But I still haven’t found what I’m looking for

By Wendy Leung – Taking the time to step back from the day-to-day demands of the business to assess personal and professional goals is a critical yet often overlooked exercise that can help financial advisors define and achieve their best business life. “But I still haven’t found what I’m looking for.”

The Energy of Independence: It’s Invigorating!

The Energy of Independence: It’s Invigorating!

By Mindy Diamond – Last week’s MSUM14 brought together some of the biggest names and brightest minds in the independent financial advisor world – and many that you will recognize from outside of our space – to share knowledge and insights on the future. The energy was greater than I have ever seen, and – unfortunately – an energy that is rarely experienced in the broker dealer world.

MarketCounsel Summit (MSUM) – It’s not just for Independents

MarketCounsel Summit (MSUM) – It’s not just for Independents

By Mindy Diamond – One very important point I want to convey – especially to the wirehouse audience – is that the vibe, energy and caliber of attendee that exists at a conference like MarketCounsel Summit (MSUM) also exists at custodian conferences like Schwab IMPACT, Pershing INSITE, Fidelity’s Executive Forum…or any of the others.

To Stay the Course or Reach Higher – The Choice is Yours

To Stay the Course or Reach Higher – The Choice is Yours

By Mindy Diamond – “I love being an advisor and have built a great practice. My business generates more than $3mm in annual fee based revenue and it affords me a lifestyle far better than I ever imagined. I have a top notch staff and wonderful clients with an aggregate $550mm in assets under management.” Perhaps change the stats but I’m betting that this sounds familiar to you- and what a wonderful position to be in.

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