Louis Diamond Quoted – By Jacqueline Sergeant, Financial Advisor Magazine – Working from home during the Covid crisis has awakened many brokers and financial advisors to new beginnings, setting off a wave of departures to independence, consultants say. “Advisors are realizing that they are not getting as much value from their current firm, especially working from home,” said Louis Diamond, president of Diamond Consultants in Morristown, N.J.
Wendy Leung Quoted – By Judy Ward, PlanAdviser – The rapid pace of advisory business merger and acquisition (M&A) deals will continue in 2022, experts say. “The pressures of COVID-19, and the potential change in the capital-gains tax rate, have really driven the outsized amount of activity we’ve seen this year,” says Wendy Leung, senior consultant at Diamond Consultants, a recruiting and business consulting firm for financial advisers, located in Morristown, New Jersey.
Wendy Leung Quoted – By Katie Kuehner-Hebert, Proactive Advisor Magazine – The COVID-19 pandemic has spurred a wave of financial advisors calling it quits, or at least finally giving serious consideration as to how to go about properly transitioning their firms either to the next generation or to another firm.
Louis Diamond Quoted – By Peter Rawlings, Financial Advisor IQ – The remote work environment created by the Covid-19 pandemic has prompted more wirehouse advisors to consider independence, according to two recruiters. Working remotely during the pandemic has been a “lightbulb moment for many advisors to say, ‘I actually am pretty comfortable working from home,’ or ‘I don’t need the resources of a big firm as much,’” says Louis Diamond, president of recruiting firm Diamond Consultants.
By Mindy Diamond, WealthManagement.com – No one could have predicted what 2020 had in store for us, yet through it all, many financial advisors are finding themselves better off because of it. That said, there’s a certain groundwork that’s been laid for 10 trends emerging in 2021.
By Barbara Herman – The search for a “better culture” has emerged in recent years as one of the single greatest drivers of advisor movement. Yet the term “culture” itself can evade simple definition. Culture can encompass an organization’s system of values and priorities, and influence every decision. It’s the undercurrent that directs, either subtly or overtly, the choices made and the paths taken.
Wendy Leung Quoted – By Jameson Berkow, The Globe and Mail – The COVID-19 pandemic has triggered a wave of succession planning among financial advisors that some experts believe could become the largest transition the industry has ever seen.
By Mindy Diamond – In a year unlike any other, the ability to remain creatively inspired has been difficult in and of itself—that is, finding creative ways to meet the challenges that this new world has presented us with. As such, the source of this creative energy – “inspiration” – can become depleted, making it all the more important to take the time to recharge and replenish this important battery whenever possible.
By Deborah Aronson, WealthManagement.com – Long before the pandemic hit, the independent space was gaining traction among advisors craving greater control over their business lives along with a better way to serve clients. Yet, there’s a population of advisors who watched from the sidelines as their respected colleagues made the leap. That is, advisors who had growing frustrations with their firms’ and yearned for the freedom and flexibility of independence, but were besieged by concerns about leaving the comfort, familiarity and infrastructure of the brokerage model.
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