A conversation with Louis Diamond
What can advisors expect as they head into 2022? In this episode, we explore 11 key areas – including deals, advisor movement, evolving models, and more – and the impact each might have on advisors and the wealth management industry at large.
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About this episode…
2021 was an extraordinary year for the wealth management industry. Despite the waning shadow of the pandemic, advisors set new trajectories on the revenue side, while creatively serving clients and managing their business lives.
Yet this success was set amidst a confluence of events that positioned advisors securely in the driver’s seat this year. On the one hand, brokerage firms have been slow to acknowledge just how frustrated many of their advisors are with the status quo.
While on the other, leaders outside of this world continued to pay close attention to what advisors value most – freedom, flexibility and control – and responded by creating exciting new firms and models that match advisors’ needs. The result was increased competition for top advisor talent that fueled a true “seller’s market” in 2021.
In an annual article for WealthManagement, we explored the 7 trends of 2021 and their impact on the industry at large—as well as the foundation laid for the coming year.
So how do we expect this “seller’s market” to color the new year? There are 11 potential areas that are already showing strong signs for 2022.
In this episode we look at:
- The impact of the pandemic: Will it last?
- Advisor movement: Will the record levels continue?
- Retention deals: How will they influence those who stay and those who move on?
- Record revenues: Will they drive up deals?
- The Protocol: Will Merrill pull out?
- The new disruptors: How will they drive change?
- Goldman’s custody play: Will it be the game-changer advisors have been waiting for?
- The traditional broker dealer space: How will their evolution change the landscape?
- More IPOs: Who might be next and why?
- The expanding role of crypto: What models will be affected most?
- Giving up some ownership: Will advisors be more willing to do so?
Plus, what we anticipate will be the driving theme of 2022.
Listen in for a glimpse on the future—and thoughts on how you can prepare for what lies ahead.
5 Reasons Why You Should Mess with Success
Amid a banner year, it may feel counterintuitive to even think about disrupting momentum—but it may be wise to do just that. Read->
Merrill’s Project Thunder: Do the Rumblings from Advisors Indicate an Approaching Storm?
In late August of this year, Merrill Lynch rolled out “Project Thunder,” a two-month campaign that appeared to be aimed at staving off increasing advisor attrition and addressing the frustrations of those still at the firm. Read->
The Real Cost of “Waiting it Out”—Why Holding Out for the “Ideal Time” to Make a Move May Not be the Best Idea
For many advisors, it’s momentum vs what could be “a chance of a lifetime.” Business is booming, and life is good. Certainly, much may have changed at your firm in the last year or so—some of which may even be for the better. Read->
An Update on Wirehouse Recruiting
Why Recent Activity May Signify Changes at the Firms. Read->
Why advisors in “Growth Mode” are Sacrificing Momentum to Change Firms or Models
It seems to be counter-intuitive for an advisor or team who may be riding the wave of their “best year ever” to change jerseys or break for independence. Yet it’s happening in record numbers. Read->
What’s Driving the Movement of Advisors and Teams Managing a Billion or More? Read->
A Goldman Sachs Play in the Custody Game
What Could This Mean for Advisors and the Industry At-Large? Read->
A Look Back at 2021
7 Trends That Indicate it’s a Seller’s Market for Advisors and Independent Business Owners. Read->
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