Mindy Diamond Quoted
Regional brokerage Edward Jones is taking its recruitment push to Wall Street, as its assets under management surpass $1 trillion and it hunts for big city advisors to serve its growing roster of big city clients, The Wall Street Journal reports.
Wirehouse recruitment bonuses aren’t as rich as they used to be, with the giant firms more focused on retaining their big-dollar producers. That leaves a gap in defenses that smaller brokerages like Edward Jones can exploit, says recruiter Mindy Diamond, president and founder of Diamond Consultants.
“The playing field has been leveled,” placing some veteran advisors within Edward Jones’ grasp and pay grade, Diamond tells the Journal.
“They have a better shot now than they had a year ago,” she says.