Louis Diamond Quoted
By Tobias Salinger
Cetera Financial Group’s more than 7,700 advisors across six independent broker-dealers may soon face yet another big change: new ownership.
“It was inevitable that there would be some sort of a change in ownership,” says Louis Diamond, who adds that he expects a PE firm to be the buyer. “Any time there is change it’s an opportunity for an advisor, especially an independent one, to figure out if they’re in the best possible place for their clients.”
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
