So, You Want to Break Away?
November 9, 2020
Louis Diamond Quoted
By Ellen Sheng
The trend of financial advisors breaking away from their brokerages doesn’t seem to be dying down anytime soon. Changes in the industry — the shift from commission-based compensation models to fee-based, increasing compliance and regulatory requirements and advances in technology — are all making independence more appealing to advisors.
“Advisors want more freedom, flexibility and control over the business and clients, while firms are trying to standardize things and take away control,” says Louis Diamond, executive vice president at Diamond Consultants.