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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

Morgan Stanley Redirects Lucrative E*Trade Referrals to Elite FA Squad

Posted by Louis Diamond

October 19, 2020
Louis Diamond Quoted
By Miriam Rozen

Morgan Stanley has told its financial advisors that any client referrals coming from its E*Trade unit will go to a pre-selected set of 500 teams, a source familiar with the matter says.

In all, that group represents only 1,200 advisors, or 7.7% of the wirehouse’s 15,469 FAs.

Advisors who stand to benefit from the referral program likely also have a track record of working with corporate executives and a “planning focus,” says Louis Diamond, executive VP and senior consultant at Morristown, N.J.-based Diamond Consultants.

For the FAs who qualify for the referrals, the winnowing program represents a win, says Diamond, who counts the wirehouse among his clients.

Read more…

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Louis Diamond

About Louis Diamond

Executive Vice President, Senior Consultant – Someone who “looks at every angle from a strategic perspective.” Sophisticated advisors and business owners alike learn quickly that they’ve found the right person in Louis when seeking counsel and clarity on growth, career management and the ever-changing industry landscape. Learn more...

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