Mindy Diamond Quoted – By Ralph R. Ortega, OnWallStreet – Raymond James will buy Deutsche Bank’s U.S. wealth management business and operate the boutique under the Alex. Brown brand, both firms said. “(Raymond James) is a fabulous firm and makes a great home for the right advisor. Many of the (Deutsche Bank) advisors will feel lucky to become part of an organization that is all about culture and that truly values their employees,” said Mindy Diamond, president of Diamond Consultants.
By Mindy Diamond – It’s an exceptionally active time for the financial services world. No headline is fully dressed without the words “merger” or “acquisition” attached to some of what once were the most exclusive names on the street. As the scale, resilience, and stability of “boutique” firms – such as what was Barclays, Credit Suisse, and now Deutsche Bank – come into question, advisors that work there are living in a world that becomes more uncertain with each day. Then a wirehouse or large regional firm swoops in – seeming to save the day – adding another layer of uncertainty and the possibility of a stay-worthy retention deal or a “free pass” to move on to something better.
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