Howard Diamond Quoted
By Irwin Stein
Commonwealth Financial Network is locked and loaded — ready to blow holes in its plan to end commissions on retirement accounts if the DOL rule is repealed.
Much of the original trepidation about the rule may be subsiding as the industry begins to sort out the details. Earlier this month, Howard Diamond, managing director and COO of Diamond Consultants, a financial services search and consulting firm in Morristown, N.J., wrote in these pages about the rule’s devastating effect on broker recruitment.
Diamond has since softened his view. “If you do the calculations, the death of recruiting may be premature,” he says.