By Mindy Diamond – While the momentum towards independence seems to have increasing traction, the independent world is definitively not for everyone. To be sure, there are plenty of risks and roadblocks that would deter most advisors from leaving the security of their brokerage firms—and in many cases, far more than what might make them actually make the leap.
December 18, 2017 – Louis Diamond Quoted – By Jeff Benjamin, InvestmentNews – The breakaway broker trend is real and only getting more so, according to the latest research from TD Ameritrade Institutional, which Monday morning released its 2017 Breakaway to Independence Survey. Louis Diamond, vice president at Diamond Consultants, said the brokerage industry has suffered enough “black eyes” since the 2008 financial crisis that it no longer carries the same level of swagger with consumers.
April 26, 2017 Podcast featuring Mindy Diamond Moderated by Andrew Welsch Has going independent become more attractive? Recruiters Mindy Diamond and Danny Sarch discuss in this podcast moderated by On Wall Street Senior Editor Andrew Welsh. Listen in…
December 1, 2016 Howard Diamond Quoted By Janice Kirkel In a breakaway scenario with a number of stunning twists, an advisor team overseeing $1.7 billion of assets has bolted from a wirehouse — with its help. “Profit-Formula isn’t offered anymore by Wells Fargo, it’s been gone for years, but if it were still around it would be very […]
June 30, 2014 Mindy Diamond Quoted By Diana Britton How Brian Hamburger became the man behind the curtain in almost every major breakaway deal and helped define the industry Since Brian Hamburger started MarketCounsel in 2000, over 1,500 RIA firms have crossed his path. Craig Stuvland formed his company to “fan the flame of independence” […]
May 21, 2014 By Matthias Rieker More Brokers Break Away to Form Independent Firms Trend Is Reshaping Industry, Eroding Dominance of Wall Street. On a Friday in early May, financial adviser Herman Rij put on his Merrill Lynch tie—pink, with light blue bulls—and went to work at the brokerage’s third-floor office in Bethlehem, Pa. He […]
February 5, 2014 By Mindy Diamond Meet Tim Kneen and Clayton Hartman just once and you would know that they were never meant to be wirehouse advisors. This billion dollar Colorado based duo, generating almost $8 million in annual revenue, with combined industry experience of not quite six decades left UBS in mid-January to form […]
Jan 29, 2014 Wendy Leung Quoted By Andrew Welsh A UBS team of advisors with a billion dollars under management has left the Swiss bank to form IFM Capital Advisors, an independent RIA. Founding partners Timothy Kneen and Clayton Hartman are launching their Colorado-based venture with the assistance of Focus Financial’s Focus Connections program, which […]