A conversation with Louis Diamond
In an annual review for financial advisors, Mindy Diamond and Louis Diamond go out on a limb to share predictions for 2023, gleaned from their unique perspective on all the things most important to advisors, including recruiting, deals, M&A, and much more.
About this episode…
In an annual review for advisors, Mindy Diamond and Louis Diamond look at the past year and how activity and trends are already coloring what we expect to see as the driving forces of change for 2023.
They dive into details on recruiting, where advisors went, the state of deals and M&A, and much more in their recap of 2022—then explore their predictions and expectations for 2023, including:
- Where recruiting deals are headed—and how changing competition will further impact offers.
- The shifting recruiting pendulum—and where more advisors will move to in the coming year and why.
- The rise of competitive deals from high-end RIA firms—and how they will rock the market amongst those serving high net worth and ultra-high net worth clients.
- Retire-in-place incentives—and why big firms are expected to push advisors to sign now more than ever.
- Increased compliance scrutiny—and how it will drive vulnerability and movement.
- The new hot commodity in the advisor talent pool—and why more activity is expected amongst this group.
- An acceleration of breakaways from RIAs—and why these independent advisors are the next “wave” of movement in the space.
- The popularity of multiple affiliation models—and why this is expected to be one of the hottest growth areas in the market.
- The expanded role of independent broker dealers and independent platform firms—and how this expansion will attract more advisors to the independent space.
- A shake-up in the custodial space—and how names like Goldman and others will provide the cachet many elite advisors have been looking for.
- The changing appeal of banks—and how that will further shift movement.
- And much more for advisors and business owners alike.
We expect that 2023 will be the year that advisors take a step back and conceptualize not just how to maximize the value of their business and annual compensation, but how that translates into achieving their best business lives.
That is, every advisor will have the opportunity to maximize their career enterprise value. Listen in and learn how.
The Annual Report for Advisors: The Contradictions of 2022 and Emerging Trends for 2023
A look back – and forward – on the forces behind an evolving wealth management industry. Read->
MaxCeV™: How to Maximize Your Career Enterprise Value
This formula seeks to provide a process by which an advisor can “calculate” the sum total of 4 key factors—to conceptualize what their career enterprise value really is and how to achieve it.
Investing in Growth: Exploring KKR’s Attraction to $25B+ RIA Beacon Pointe
A conversation with Matt Cooper, President of Beacon Pointe and Sasank Chary, Managing Director of KKR. Listen->
Transition Announcement: $1B Merrill Breakaways Opt for New Goldman Sachs Custody Platform
The First Significant Breakaway Team to Choose Goldman Sachs Custody Platform for Their Newly-Launched RIA Firm. Learn more->