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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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garden leave

An Open Letter to Goldman Sachs Advisors

An Open Letter to Goldman Sachs Advisors

By Mindy Diamond – In the past 3 years, by our count, 14 Goldman Sachs Private Wealth Advisor (PWA) teams managing a $1B or more left the firm. That’s more than the past 2 decades combined. What’s driving the momentum? Where are they all going? What kind of deals did they get?

Will the rumored Merrill retention package materialize—And will it be the “free lunch” advisors are hoping for?

Will the rumored Merrill retention package materialize—And will it be the “free lunch” advisors are hoping for?

By Mindy Diamond – Rumors are swirling that a Merrill retention package for their advisor elite is pending announcement. And while Merrill and other wirehouse advisors feel they are in line for a retire-in-place program like that of Morgan Stanley, certain realities simmer in the background, the most prominent being, “There is no free lunch.”

What Advisors Can Learn from the Goldman Departures

What Advisors Can Learn from the Goldman Departures

By Mindy Diamond – WealthManagement.com – With an increasing number of advisors leaving Goldman Sachs, it’s time to take notice and understand why. I write a lot about changes in the industry landscape—whether it’s a new business model, relevant trends that we’re seeing, or the headline-gripping announcements from firms. What strikes me about the past 12 months is the frequency and speed of transformation that we’re seeing. Even more striking are the courage and determination of advisors to find the best firm or model to suit their business needs, regardless of the obstacles they may encounter.

The Times They Are a Changin’—And So Are the Advisors

The Times They Are a Changin’—And So Are the Advisors

By Mindy Diamond – What can be learned from the growing trend of advisors leaving Goldman Sachs, regardless of the once seemingly impassable garden leave.

Garden Leave Pondered As Wirehouse Erosion Problem

Garden Leave Pondered As Wirehouse Erosion Problem

Barbara Herman Quoted – By Thomas Coyle, Financial Advisor IQ – Merrill Lynch has had a small but persistent “garden leave” problem since at least 2011. But, as it applies to rank-and-file FAs, rumors about impending garden leave policies at the four wirehouses are directed more at Merrill than Morgan Stanley, UBS’ U.S. brokerage arm or Wells Fargo Advisors, according to Barbara Herman, a recruiter with Diamond Consultants.

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