Louis Diamond Quoted
By Brooke Southall
Shares of LPL Financial skyrocketed to another record close of $71.91 yesterday as the firm continues to struggle with recruiting advisors and retaining recruiters. The higher stock market valuation and a new recruiting stance may have a surprising connection, observers claim off the record.
The departures likely boil down to recruiters choosing the path of least resistance, says Louis Diamond, New York-based principal of Diamond Consultants.
“My take on why they are losing internal recruiters is that the recruiters’ job is getting a lot harder. Maybe there’s better opportunity at a competitor.”