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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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retention

The Momentum of Movement: Where Advisors Are Going…And Why

The Momentum of Movement: Where Advisors Are Going…And Why

By Mindy Diamond – Originally broadcast at the AdvisorHub Virtual Summit 2020, Mindy shares an update on recruiting and her advice on recognizing what you can and cannot control, plus key questions you can ask yourself to ensure your decision-making process is strategic.

Merrill Managers Stoke Up Client-Retention Deals

Merrill Managers Stoke Up Client-Retention Deals

Louis Diamond Quoted – By Mason Braswell, AdvisorHub – Merrill Lynch has been offering clients of departing brokers pricing arrangements that appear more generous than is standard in an effort to retain their accounts, according to recruiters and competitors.

Merrill’s Enhanced CTP: What it Means for Advisors, Their Next Gen and Clients [Video]

Merrill’s Enhanced CTP: What it Means for Advisors, Their Next Gen and Clients [Video]

By Mindy Diamond – With the anticipated announcement of an enhanced CTP, Mindy Diamond spoke to Merrill breakaway executive Vince Fertitta for his take on what it could mean for advisors, next gen and clients.

The Real Truth About Advisor Moves: What Lies Beneath the Numbers

The Real Truth About Advisor Moves: What Lies Beneath the Numbers

Louis Diamond Quoted – By Mrinalini Krishna, Financial Advisor IQ – Last year, most large broker-dealers claimed 12 months of record recruiting. This year, even though recruitment activity has slowed down a little, firms are still confident about recruitment pipelines and are gung-ho about their advisor retention. Yet high recruitment along with high retention could be confusing. Even the recruiters FA-IQ spoke with for this analysis piece are skeptical of the different metrics put out by the firms.

The Wirehouse Retention Measure That’s Backfiring

The Wirehouse Retention Measure That’s Backfiring

By Mindy Diamond, WealthManagement.com – Big brokerage firms have long encouraged advisors to form teams. For advisors, there is strength in numbers when it comes to serving clients and building their businesses. For the firms they work for, teams represent a business advantage and a hidden retention strategy. It’s thought to be harder to recruit away a group of advisors than it is an individual, as the various personalities, goals and risk tolerances of a team can be more challenging to solve for.

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.”

HighTower spent at least $100 million to buy the love [and revenues] of its own advisors, a key sign an IPO or sale is taking shape, industry observers say

HighTower spent at least $100 million to buy the love [and revenues] of its own advisors, a key sign an IPO or sale is taking shape, industry observers say

Louis Diamond Quoted – By Lisa Shidler, RIABiz – HighTower Advisors has finished investing the $100 million haul staked by Thomas H. Lee Partners, ending a stealth acquisition binge that saw ownership of its revenues rise from 23% to 80%, paving the way for a possible IPO or sale.

Wells Fargo Advisors sweetens the pot for both older and younger advisers

Wells Fargo Advisors sweetens the pot for both older and younger advisers

Louis Diamond Quoted – By Bruce Kelly, InvestmentNews – After bleeding advisers for more than two years, Wells Fargo Advisors is changing its succession plan by offering a bonus to advisers who stay on until retirement and giving financial help to young advisers acquiring the business of those advisers who are retiring.

Wells Fargo Will Give FAs Bigger Rewards for a Warm Hand-Off

Wells Fargo Will Give FAs Bigger Rewards for a Warm Hand-Off

Barbara Herman Quoted – By Miriam Rozen, Financial Advisor IQ – To boost its recruiting and retention efforts, Wells Fargo Advisors has announced that, effective April 1, it will offer more generous options for FAs on both sides of its succession packages — those retiring and those getting the retirees’ books of business.Specifically, WFA will offer retiring advisors who commit to a warm hand-off of their book of business to remaining WFA FAs a loyalty award of 25% over their trailing 12 months production.

LPL’s big National Planning Holdings buy is a high-stakes bet

LPL’s big National Planning Holdings buy is a high-stakes bet

Howard Diamond Quoted – By Tobias Salinger, Financial Planning – If LPL Financial retains about three-quarters of National Planning Holding’s business after its purchase of the 3,200-advisor network, CEO Dan Arnold will be happy.

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