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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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      • Mindy Diamond
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Howard Diamond

Looking Forward to Get Beyond the Past

Looking Forward to Get Beyond the Past

By Howard Diamond – Many tenured advisors possess a similar trait: They view the past through a strong pair of “rose-colored glasses.” When they think about their current firm, or potentially a new one, there is an expression of longing for “what was”—essentially, a place that no longer exists. Storied names of Wall Street past – such as E.F. Hutton, PaineWebber, A.G. Edwards, Advest, Lehman Brothers, Piper Jaffray, and Salomon Brothers, just to name a few – typically elicit nostalgic smiles and reminiscences of “the good old days.” 

The Over-Arching Theme That’s Become the Driving Force in the Wealth Management Industry

The Over-Arching Theme That’s Become the Driving Force in the Wealth Management Industry

By Howard Diamond and Mindy Diamond – It’s the time of year when we gather the team at Diamond Consultants to revisit the prior year—and few can argue that 2017 was an interesting one to review to say the least. Working together, we examine deals both large and small, dissect the headlines and hearsay, and study the players. 

Contemplating “PREXIT”—What happens if firms exit the Protocol?

Contemplating “PREXIT”—What happens if firms exit the Protocol?

By Howard Diamond – Over the past few weeks, rumors have abounded that some wirehouse firms are contemplating an exit from the 13-year old arrangement that protects firms and advisors alike: Membership in the Protocol for Broker Recruiting (“Protocol”). What is the rationale for considering such a move and, more telling, what impact will it have on advisor recruiting?

6 Key Reasons Why IBD Advisors are Moving to the RIA World

6 Key Reasons Why IBD Advisors are Moving to the RIA World

By Howard Diamond – For IBD advisors who feel they may have outgrown the space, and asking themselves, “Is this still what’s best for my business and clients going forward?” there’s a real case to consider the next stage of independence.

The Impact of Conversation

The Impact of Conversation

By Howard Diamond – It seems easier than ever to communicate with others: The Internet, smartphones, texting and social media, each at the ready to comment, share and respond. Yet for all of the communicating that we do, real “conversation” seems to be a less frequent occurrence. Pile on the barrage of headlines and rhetoric – especially those we’ve been seeing regarding the elections and the DoL rule – and people tend to react rather than engage with one another. So it was refreshing to attend Schwab IMPACT a few weeks back.

Looking at the Future of Recruiting Deals Through the Clouds of Uncertainty

Looking at the Future of Recruiting Deals Through the Clouds of Uncertainty

By Mindy Diamond and Howard Diamond – Even after nearly a week since the election of Donald Trump as our 45th President, we are all still reeling from the shock of what was the culmination of an “interesting” campaign. There are countless questions that a Trump Presidency raises and we are not qualified nor inclined to prognosticate what the future will when it comes to his agenda. However one area in particular falls within our wheelhouse, and that is regulatory reform in the financial services space.

Independent Partnerships

Independent Partnerships

By Howard Diamond – The Broker Disclosure Rule and DOL Fiduciary Rule – coming this November and next April respectively – are perceived by many as game changers in the financial advisory space. Suffice it to say, the educational communication that advisors and firms must disseminate to clients if a move occurs after November 11, 2016 – along with the spate of requirements and regulations that continue to be promulgated in anticipation of the DOL Fiduciary Rule for next year – can be mind-numbing. This is especially so for smaller independent firms or for advisors thinking about moving to an independent model.

To Disclose or Not to Disclose, That is the Question

To Disclose or Not to Disclose, That is the Question

By Howard Diamond – When a financial advisor is contemplating a move to a new firm, there are times when questions arise as to whether he should or should not disclose negative events from his past on his Form U4. If there is ever any question about whether a disclosure to a prospective employer should be made, it is almost always better to err on the side of caution and make the disclosure. This is especially important in today’s hyper-vigilant compliance environment.

Want Your Sale, Acquisition or Merger to Close? Reasonableness is the Key

Want Your Sale, Acquisition or Merger to Close? Reasonableness is the Key

By Howard Diamond – In today’s M&A rich environment, every advisory firm and financial advisor wants to get in on the action. Unfortunately, though, most would-be buyers and sellers come up empty. Why? Because of unreasonable expectations.

Should an advisor move during volatile times?

Should an advisor move during volatile times?

By Howard Diamond – Volatility, according to Merriam-Webster, is defined as something that is “likely to change in a very sudden or extreme way.” That’s certainly an appropriate descriptor for the activity the world stock markets experienced through August and the start of September. With these vast market swings, we have been asked time and again if it has had, or will have, a negative impact on financial advisor movement.

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