Mindy Diamond Quoted
By Michael Wursthorn
For Wall Street brokers, a promotion to branch manager once was a career-crowning achievement. Now, many shun the job.
“Becoming a branch manager was the pinnacle of one’s career,” said Mindy Diamond, president of Diamond Consultants, a Chester, N.J., recruiting firm for financial advisers. “But unfortunately it’s a really tough position today.”
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
