September 13, 2018 – By Mindy Diamond, WealthManagement.com – We hear it from advisors all the time: “Things are far from perfect, but we’re keeping our heads down and waiting to see what happens next.”
September 5, 2018 – By Mindy Diamond – This week, Diamond Consultants celebrates its 20th anniversary as a recruiting firm in the wealth management space. And frankly, it’s hard to believe that so much time has passed.
September 4, 2018 – Howard Diamond Quoted – By Miriam Rozen, Financial Advisor IQ – News surfaced recently that a New York-based team with four senior brokers and more than $1 billion in client assets jumped in late June from Wells Fargo Advisors to Raymond James’ employee channel.
After RIA private equity hot-shot Genstar’s $1.7 billion purchase of ugly duckling Cetera, Robert Moore plans to take on LPL–not with acquisitions, but a recruitment storm
August 15, 2018 – Louis Diamond Quoted – By Oisin Breen, RIABiz – With Genstar’s deep pockets backing him, Moore is ready to beat LPL Financial at its own game — bone crushing scale.
August 13, 2018 – Mindy Diamond Featured [podcast] – By Lee Conrad, Financial Planning – Were 300% deals ever sustainable? What can advisors do today? And if you think it’s too late to break away, listen to the story of a 70-year old advisor who made the move. Mindy Diamond offers her insight as we continue the dialogue from our Recruiters Roundtable.
August 14, 2018 – Louis Diamond Quoted – By Mason Braswell, AdvisorHub – UBS Wealth Management USA, which has been on the sidelines of broker recruiting for the past two years, is giving its branch and market managers a pep talk—and talking points—about the value of joining the Swiss-owned firm.
August 10, 2018 – Louis Diamond Quoted – By Michael Thrasher, WealthManagement.com – Linda Pardini and Douglas Wulbrecht, who were previously employed by Wells Fargo Advisors and managed $462 million, are opening a new Raymond James office in Santa Rosa and will report to the complex headed by Nathan Clakley. Pardini and Wulbrecht will both be vice presidents at Raymond James.
August 9, 2018 – By Mindy Diamond, WealthManagement.com – Circle back to 2009: The financial crisis had barely passed, Barack Obama was inaugurated as president, and Bernie Madoff was sentenced to 150 years for his multibillion-dollar Ponzi scheme. Meanwhile, more than 24,000 financial advisors who changed firms that year worried that the days of outsized recruiting deals were going to be a thing of the past.
By Mindy Diamond – Advisor movement amongst top-producers in the industry – that is, those from traditional brokerage firms and banks who are managing a billion dollars or more in client assets – is on the rise, with over a dozen of these uber-teams having moved since the start of the year (including a $7mm Merrill team managing $1B in assets that jumped ship just last week to set up their own RIA). And while the biggest of the wealth management world seek greener pastures to grow their businesses, there’s much the rest of the industry can learn from this wave of movement.
July 13, 2018 – Louis Diamond Quoted – By Andrew Welsch and Jessica Mathews – Wells Fargo’s brokerage ranks continue to shrink, indicating that a long-running decline in advisor numbers has yet to come to an end. Louis Diamond, a recruiter at Diamond Consultants, who has worked with Wells Fargo, anticipates the number of advisors exiting will slow down.
Recent News & Articles
- Mindset, Motivation and Momentum: What’s really driving all the movement to independence – David Canter, Head of Fidelity’s RIA Segment
- Why Advisors and Their Affluent Clients are No Longer Looking the Other Way When it Comes to Independence
- Six Recruiting Changes You Should Not Ignore
- HighTower gets a new CEO, to be revealed later, as Elliot Weissbluth moves upstairs
- Multi-Generational Teams at a Crossroads: Wirehouse Sunset Program or Independence?