Mindy Diamond Quoted
By Joyce Hanson
A team of Baltimore-based financial advisors with $200 million in assets under management and $2 million in annual production has jumped ship from Wells Fargo to join Raymond James’ independent broker-dealer channel, Raymond James announced.
Mindy Diamond, president and chief executive of Diamond Consultants, a recruiting firm in Chester, N.J., said the Meakem news signals that the move from wirehouse to independence is becoming more common.
“It doesn’t speak to anything being wrong or bad at Wells Fargo, by any means,” said Diamond, whose firm works with Raymond James. “It just speaks to the fact that more and more advisors are looking for greater autonomy and freedom, and for greater control over their professional destinies and bottom line. We’re watching more advisors leave the wirehouse world and go toward some version of independence.”