Louis Diamond Quoted – By Peter Rawlings, Financial Advisor IQ – Some smaller broker-dealer firms are trying to peel away advisors from firms being gobbled up by large networks amid the ongoing industry consolidation, according to an executive at LaSalle St. Securities. Louis Diamond, president of recruiting firm Diamond Consultants, says many advisors tend to either stick with their parent or look to move to an even larger firm despite the potential benefits of smaller firms, such as better access to management.
By Deborah Aronson – A new breed of service providers has emerged, designed to cater to the needs of a growing population of financial advisors who have their sights set on independence. For a population of advisors that previously had limited options in the independent landscape, a new world awaits.
Louis Diamond Quoted – By Bruce Kelly, Investment News – It’s been a good year for broker-dealers, compared with rival channels. The latest data from research and consulting firm Cerulli Associates found that national and regional B-Ds grew assets at a rate of 9.1% year-over-year, faster than all other adviser channels. Louis Diamond, vice president of Diamond Consultants, said he wasn’t surprised at all by the strong growth at B-Ds.
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