Mindy Diamond Quoted
By Lisa Shidler
Mindy Diamond of Diamond Consultants is skeptical about LPL’s explanation for its sluggish recruitment quarter and wonders if the reasons lie more with LPL than with a hot market.
“Yes, it’s true advisors are focused on clients, but they’ll still move and go to another firm. Advisors are listening and hungrier than ever before to leave,” she says. “LPL has lost its luster and it’s not necessarily the best choice out there for advisors like it used to be years ago. I’m not at all surprised by LPL’s numbers.”
“We feel very good about the fundamentals of the business,” he says. “We know we can always find ways to improve our service for our advisors. We very much value what they’re doing and we understand the pressure they’re under.”
Diamond was also taken aback by Raymond James’ numbers.
“I am really surprised to see the lower numbers at Raymond James. They have an outstanding reputation among advisors.”
