February 1, 2021
Louis Diamond Quoted
By Lisa Shidler
LPL Financial — after decades of market feints — appears more inclined to take on Schwab Advisor Services in RIA custody after signing five RIA recruiters from the market leader.
“This is a major get by LPL as those folks are all excellent and will really help LPL bolster their RIA custody business,” says Louis Diamond, New York-based president of Diamond Consultants.
The “get” may be a case of being in the right place at the right time.
UBS is increasing its recruiting efforts, offering top advisors deals of up to 550% of annual revenue while targeting experienced private bankers.
Advisors at some of the largest firms in the country are leaving, and not in a trickle. In 2024 alone, more than 9,600 experienced advisors changed firms, according to industry data from Diamond Consultants.
June 12, 2026Louis Diamond QuotedBy Andrew Cohen Median compensation for financial planners reached $195,000 in 2025, marking a 15% year-over-year
