Mindy Diamond Quoted
By Megan Leonhardt
Reports of the wirehouses’ demise have been greatly exaggerated. That’s the message former Bank of America’ executive Sallie Krawcheck delivered to the MarketCounsel audience on Wednesday, saying that despite the numerous stories of successful advisor teams streaming from the wirehouses, these big firms aren’t losing nearly as many advisors as reported and that predictions of the wirehouses desperately entering the RIA space may be premature.
“The idea that the press puts forth that people are streaming out hasn’t been, and is still not today, completely true,” she said in a very frank conversation with recruiter and industry consultant Mindy Diamond.