February 8, 2021
Louis Diamond Quoted
By Lisa Shidler
Eric Clarke says he plans to directly woo breakaway brokers this year–an unusual move for the CEO of a software firm–after a 20% slide in 2020 recruiting, but some recruiters say he may have just missed the boat in a tough but hot market.
While Orion Advisor Services doesn’t technically recruit, Clarke says his firm is constantly speaking with advisors before they’re ready to go independent.
Louis Diamond, president of Morristown, N.J.-based Diamond Consultants says don’t presume that the breakaway broker movement took a year off in 2020.
“It was the busiest recruitment year since 2014 in terms of advisors moving,” he says. “I definitely don’t think it was slower.”
This year is already proving to be another stellar year, Diamond says. “We’re very bullish on advisor recruitment for 2021 and the breakaway movement.”