Mindy Diamond Quoted
By Liz Skinner
Wirehouse advisers looking for independence have choices of the type of firms they create or join – independent broker-dealers, existing registered investment advisers or their own RIA. But the option that eliminates the most business worries will require them to surrender up to 25% more of the profits.
While figures vary, typically the net profit for advisers joining such firms is about 40% to 50%, said Mindy Diamond, president and CEO of Diamond Consultants, an industry recruiting firm.