Barbara Herman Quoted
By Thomas Coyle
Merrill Lynch has had a small but persistent “garden leave” problem since at least 2011.
But, as it applies to rank-and-file FAs, rumors about impending garden leave policies at the four wirehouses are directed more at Merrill than Morgan Stanley, UBS’ U.S. brokerage arm or Wells Fargo Advisors, according to Barbara Herman, a recruiter with Diamond Consultants.
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
