Mindy Diamond Quoted
By Michael Wursthorn
Merrill Lynch has hired a team of Morgan Stanley financial advisers managing more than $1 billion for its ultrawealthy client group, as the big brokerage firms continue to compete with one another for multi-million-dollar clients and advisers.
Mindy Diamond, president of Diamond Consultants, a Chester, N.J.-based recruiting firm for financial advisers, described competition in this segment as “fierce,” saying firms are in “a race for top talent.”
UBS is increasing its recruiting efforts, offering top advisors deals of up to 550% of annual revenue while targeting experienced private bankers.
Advisors at some of the largest firms in the country are leaving, and not in a trickle. In 2024 alone, more than 9,600 experienced advisors changed firms, according to industry data from Diamond Consultants.
June 12, 2026Louis Diamond QuotedBy Andrew Cohen Median compensation for financial planners reached $195,000 in 2025, marking a 15% year-over-year
