Mindy Diamond Quoted
By Lee Conrad
The breakaway movement is as strong as ever and unlikely to slow down despite the recent departures from the Broker Protocol, top recruiters say. Some advisors may be even more inclined to go independent due to their ire at wirehouse policy shifts.
Yet, the fact remains that many brokers are paid very well and are averse to upsetting the applecart (even one of the recruiters says it’s hard to argue with that).
In this third installment of our annual recruiters roundtable, top headhunters discussed how they see this tension playing out, where the next generation of advisors will come from and what compensation changes could be around the corner.
Our participants were: Elizabeth McCourt, president of McCourt Leadership Group; Mindy Diamond, president and CEO of Diamond Consultants; Mark Elzweig, president of Mark Elzweig Co.; Michael King, president of Michael King Associates; Rick Rummage, president of the Rummage Group; Danny Sarch, president of Leitner Sarch Consultants; and Bill Willis, president and CEO of Willis Consulting.
Below is a lightly edited version of our discussion.