April 20, 2021
Louis Diamond Quoted
By Peter Rawlings
The remote work environment created by the Covid-19 pandemic has prompted more wirehouse advisors to consider independence, according to two recruiters.
Working remotely during the pandemic has been a “lightbulb moment for many advisors to say, ‘I actually am pretty comfortable working from home,’ or ‘I don’t need the resources of a big firm as much,’” says Louis Diamond, president of recruiting firm Diamond Consultants.
Even before the pandemic, discontent among wirehouse advisors was at an “all-time high” — thanks, in part, to compensation changes and pressure to sell certain types of banking products, says Diamond.
