Mindy Diamond Quoted
By Mason Braswell
Finra has withdrawn a controversial proposal that would have required brokers to tell clients about recruitment incentives they receive in excess of $100,000.
Industry recruiter Mindy Diamond of Diamond Consultants said that the proposal would likely have been a “non-issue” as advisers would have been able to find ways of disclosing the information to clients without disrupting their transition.
“I don’t think you’re going to hear cheering in the streets,” she said. “I’d like to think that [Finra] realized that just because an adviser is paid a significant sum of money to move firms does not translate into the fact that he is a bad adviser.”
