Howard Diamond Quoted
By John Aidan Byrne
Betrayed, dazed and confused, some call it high treason inside Merrill Lynch.
Industry recruiter Howard Diamond said BofA’s bank culture can help explain that displeasure. “It has negatively impacted the wealth-management side of the business,” he said.
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
