Mindy Diamond Quoted
By Ralph R. Ortega
Raymond James will buy Deutsche Bank’s U.S. wealth management business and operate the boutique under the Alex. Brown brand, both firms said.
“(Raymond James) is a fabulous firm and makes a great home for the right advisor. Many of the (Deutsche Bank) advisors will feel lucky to become part of an organization that is all about culture and that truly values their employees,” said Mindy Diamond, president of Diamond Consultants.
“Some (Deutsche Bank) folks, though, worry that the (Raymond James) name will not resonate with their (high-net-worth) clients,” she adds. “And, so no matter how much courting (Raymond James) does and no matter how much retention money they are offered, a percentage of the advisors will go elsewhere.”
