July 16, 2020
Louis Diamond Quoted
By Brooke Southall
The breakaway movement may have gone underground during the COVID-19 pandemic and subsequent market meltdown, but it never blinked.
While wirehouses were getting knocked sideways by the shift to a virtual workplace, RIA custodians and recruiters adjusted their poaching tools on the fly and began shepherding “quiet launches.”
That said, the Covid-19 crisis exposed new chinks in the wirehouse armor — namely nationwide policies for social distancing, says Louis Diamond, principal of Diamond Consultants, which recruited Kilgroe to become a Dynasty client.
“Breakaways are happening in states that are more open,” he says. “Florida is pretty open — particularly northern Florida.”
