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

More Solo Advisors Are Joining Forces

Posted by Mindy Diamond

Financial Advisor-IQ

Mindy Diamond Quoted
By Joan Warner, Miriam Rozen

Flying solo in the financial-advice business has never been a cakewalk, and mounting compliance costs are making it even tougher. According to Cerulli Associates, the number of sole practitioners has shrunk over the past five years, especially among independent broker-dealers, where multi-advisor practices are up 55%.

“It’s very hard and expensive to be a solo practitioner,” says Mindy Diamond, president and CEO of advisor recruiting firm Diamond Consultants. Much of the recent merger activity among advisors, she says, flows from solos recognizing their expenses will overwhelm them if they don’t find at least one partner.

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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