October 26, 2023
Jason Diamond Quoted
by Josh Welsh
Industry experts give their verdict on the wirehouse’s decision to replace its ‘growth grid’ with a ‘growth award.’
Another recruiter, Jason Diamond, vice president and senior consultant at Diamond Consultants, believes that the removal of that penalty is overdue and that it will be broadly welcomed.
“The changes this year were quite advisor friendly, certainly relative to years past,” he said. “The growth grid was wildly unpopular so changing from the stick to the carrot was a welcome change for many. The rollback on the brokerage commission thing was also a welcome change.
“It’s not growth for growth’s sake, it’s not mandated,” Diamond added. “It just gives [advisors] more autonomy and control. I think most advisors, at least successful ones, are self-starters, self-motivated anyway. You have to be because it’s an eat-what-you-kill job.”