October 22, 2021
Mindy Diamond Interviewed
By Steve Garmhausen
Mindy Diamond
Illustration by Kate Copeland
As one of the highest-profile recruiters in the wealth management industry, Mindy Diamond knows ruffling feathers in Wall Street’s C-suites is part of her job. “Yeah, they get pissed off at me sometimes,” says Diamond, who founded Diamond Consultants 25 years ago.
But Diamond, whose 14-person boutique is based in Morristown, N.J., says she’s an equal opportunity recruiter: She facilitates Wall Street breakaways, moves advisors from wirehouse to wirehouse, and on occasion even moves independent advisors back to the big brokerages. Speaking with Barron’s Advisor, Diamond weighs in on today’s ferocious competition for talent. She explains how advisors with strong books of business are using their leverage, and what small firms have to do to compete with deep-pocketed rivals. Finally, she reveals why firms that strike out in the competition for talent often have themselves to blame.
