Mindy Diamond Quoted – By Joyce Hanson, Think Advisor – A team of Baltimore-based financial advisors with $200 million in assets under management and $2 million in annual production has jumped ship from Wells Fargo to join Raymond James’ independent broker-dealer channel, Raymond James announced.
Mindy Diamond Quoted – By Patrick Graham, The Wall Street Journal – Dynasty Financial Partners, HighTower Advisors and Focus Financial Partners–three of the highest profile destinations for brokers who break away from the biggest retail wirehouses–are ready to mark 2012 as one of their best recruiting years in their short histories, reports Wealth Management at WSJ.com. So what’s behind this momentum? Three factors are in play, industry observers and recruiters say. First, technology advancements have allowed the firms to shrink the gap between themselves and the big brokerages. Also, the broker workforce today is less loyal given the many industry mergers and acquisitions during the past few years. Lastly, the firms have bolstered their credibility by simply poaching top talent. Putting all of this in perspective, top recruiting consultant Mindy Diamond notes that the firms have managed in very short order to develop a model to allow advisers to go independent–and thrive. “Since these firms’ inceptions, they’ve had a powerful impact on the industry,” she says.
Mindy Diamond Quoted – By Brooke Southall, RIABiz – FINRA is set to consider new rules that would lift the curtain on the terms and conditions of massive payoffs made by wirehouses to convince brokers to make a lateral move from another wirehouse.
By Mindy Diamond, WealthManagement.com – Sometimes financial advisors leave their firms over a series of minor events that accumulate over time. Firms might benefit from making little moves that keep their best producers happy and eliminate such headaches.
