By Mindy Diamond – There’s a certain level of awe that accompanies a review of the names that appear on lists like the Forbes Top Wealth Advisors and Barron’s Top 100 Financial Advisors. Many of these individuals and others like them have broken through the proverbial billion-dollar ceiling—representing a pinnacle of achievement in the wealth management industry.
Louis Diamond Quoted – By Bruce W. Fraser, Financial Planning – Advisory firms are trying to figure out how to leverage their networks and technology to profitably expand their client bases.
Louis Diamond Quoted – By Bruce W. Fraser, Financial Planning – One way to build an advisory practice is to re-imagine what the firm will look like in one, three and five years, and plan for those goals. A slight variation on this strategy is to look at the business through the eyes of a possible future acquirer, says Louis Diamond, vice president and senior consultant at Diamond Consultants in Morristown, New Jersey.
Howard Diamond Quoted, Monster – Job opportunities abound within the finance industry, including a demand for financial advisors and financial analysts, among other roles. Yet there is growing competition for talent. “In our business, it’s a seller’s market. Big firms and small firms want to recruit producing advisors — that’s how they grow inorganically. There’s a mad dash for them. The advisor population is aging, and younger talent is not coming in. Brokerage houses need a value proposition and to differentiate themselves from the pack.”
By Mindy Diamond – In a relatively flat market and an uber-competitive business development environment, it is increasingly hard to find reliable ways to accelerate growth. Yet, there’s one area that offers an advisor a built-in growth mechanism and that’s the land of bank brokerages.
By Mindy Diamond, WealthManagement.com – Wirehouse advisors often have an opportunity for “instant” growth by purchasing a book of business from a retiring advisor within their firm. While this sounds simple enough and can double the size of an advisor’s book overnight, it requires careful examination from both pragmatic and legal standpoints.
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