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

Relying on trainees, Merrill Lynch boosts adviser headcount in 2017

Posted by Louis Diamond

Investment News

Louis Diamond Quoted
By Bruce Kelly

Despite cutting back on recruiting experienced financial advisers, Merrill Lynch increased its adviser headcount by 2% in 2017, adding 333 people for a total of 14,953 at the end of last year, according to Merrill’s parent company, Bank of America, which released its fourth quarter earnings Wednesday.

“Those numbers validate what Merrill’s goal was, to deemphasize experienced adviser recruiting and emphasize training,” said Louis Diamond, vice president and senior consultant at Diamond Consultants, an industry recruiter. “It’s putting young and new advisers in bank branches. That’s the strategy Merrill and Bank of America have committed to. It’s working, but still tough to say how effective it will be long-term.”

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President – 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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