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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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compliance

Wirehouse Firings: The Numbers, the Reasons and What’s Coming

Wirehouse Firings: The Numbers, the Reasons and What’s Coming

Louis Diamond Quoted – By Peter Rawlings and Ming Li, Financial Advisor IQ – Wirehouses fired fewer registered representatives in 2020 compared to the previous year, a Financial Advisor IQ analysis of data from regulators in the four most-populated U.S. states shows. But there are areas that firms are especially “dialed into,” including digital signature violations, non-sales practices or firm policy-related violations, says Louis Diamond, president of recruiting firm Diamond Consultants.

Demystifying Compliance for RIAs: What You Need to Know

Demystifying Compliance for RIAs: What You Need to Know

If you’re at a wirehouse or independent broker dealer, compliance is managed for you. But what if you want to launch your own RIA firm? Chris Winn of AdvisorAssist makes the topic less daunting in this conversation that dives into policy setting, how risk differs as an RIA, the relationship to workflow management, a changing regulatory environment and more.

Transitions, Retire-in-Place Programs and Termination: A Top Attorney’s Perspective

Transitions, Retire-in-Place Programs and Termination: A Top Attorney’s Perspective

Attorney Tom Lewis of Stevens & Lee shares advice for financial advisors on navigating transition, avoiding termination, Protocol vs non-Protocol moves, and what you need to know before signing a binding retire-in-place agreement with your firm.

How to Avoid Termination in a Zero-Tolerance World

How to Avoid Termination in a Zero-Tolerance World

By Mindy Diamond, WealthManagement.com – Financial advisors at the big brokerages have witnessed a great deal of change in the firms over the past decade. Shifts in ownership, compensation and management have many of these folks acknowledging that the business is vastly different than it was back in the day or even just a few years ago.

Avoiding Termination: How to Protect Yourself in a Compliance-Driven Brokerage World

Avoiding Termination: How to Protect Yourself in a Compliance-Driven Brokerage World

By Mindy Diamond – Advisors at big firms find themselves in a zero-tolerance environment where infractions that once garnered a slap on the wrist now may be considered grounds for termination. Here’s how to protect yourself and your business in this new world order.

What to do When a Partner or Team Member is Terminated

What to do When a Partner or Team Member is Terminated

By Mindy Diamond – Advisors at big brokerage firms have found themselves in a world driven by a zero-tolerance culture—an environment where compliance departments rule with a heavy hand while management is focused on the lowest common denominator. It’s a transformation that evolved over the last several years as firms became more risk-averse, creating an incongruence between advisors who want to provide a bespoke experience for their clients and a compliance department that wants to put a narrow box around them.  

Big Brokers Rebuild After Compliance Flaps at Goldman, Morgan Stanley

Big Brokers Rebuild After Compliance Flaps at Goldman, Morgan Stanley

Howard Diamond Quoted – By Thomas Coyle, AdvisorHub – A career Goldman Sachs broker and a former Morgan Stanley duo who left earlier this summer after allegations they ran afoul of compliance rules are re-emerging as independent investment advisers.

The Final Frontier for Terminated Advisors

The Final Frontier for Terminated Advisors

By Debbie Wallen – It’s no secret that firms have adopted zero-tolerance policies as a result of the hyper-compliant world we are living in. As such, we are seeing more and more wirehouse advisors being terminated for non-sales related issues – some infractions that many would consider absurd. Even the long-tenured and large producers – who once felt somewhat immune to such scrutiny – are finding themselves facing audits that have lead to unexpected terminations.

Surprise: You’ve Been Terminated!

Surprise: You’ve Been Terminated!

By Mindy Diamond – The new hyper-compliant world has left many advisors with a pink slip in hand, thinking they have reached the end of their careers. Yet there are steps a terminated advisor can take to get back in business.

When Good Advisors Get Fired

When Good Advisors Get Fired

By Mindy Diamond, WealthManagement.com – With the heightened scrutiny in the financial services industry and the changing regulatory environment, more financial advisors are getting caught in the crosshairs of their firms’ hyper-vigilant compliance departments. While FINRA rules generally have not changed, there has been a significant increase in sensitivity about the need for stricter compliance oversight.

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