Louis Diamond Quoted – By Cheryl Winokur Munk, Barron’s – For wirehouse advisors considering a leap to the independent channel, getting the process right can mean the difference between a smooth landing and a face-flop.
By Mason Braswell, AdvisorHub – Raymond James Financial has wooed a large family team that had generated $6.5 million in annual revenue at Merrill Lynch Wealth Management in Zanesville, Ohio.
$1B+ Multi-Generational Merrill Breakaway Team Leaves Behind the Big Brand to Gain “More” for Clients
Matt Liebman, Founding Partner and CEO of RIA firm Amplius Wealth Advisors discusses the complexity of considering change with a multi-generational team, the difficulty of walking away from a big brand name, the concept of clients being the real “boss” and how that influenced his choice to build an independent firm—and much more.
Key insights shared by recent breakaway advisors and independent business owners curated from the 2021 season of the podcast series for financial advisors. Topics include why they chose independence, motivations to change, impact to clients and more.
Louis Diamond Quoted – By Charles Paikert, Barron’s – It’s not just a seller’s market for RIA owners. Advisors looking for greener pastures are also finding demand for their skills is outstripping supply. Louis Diamond, president of Diamond Consultants, which specializes in executive search for RIAs, agrees. “Every firm is on the hunt for quality talent,” Diamond says.
By Mindy Diamond, Forbes.com – Change is typically motivated by a combination of pushes and pulls. Yet in the case of financial advisors managing $1B+, those factors are even greater. What are some of the common motivations for these advisors to consider change?
Rich Mullen of $1.75B RIA platform Pallas Capital Advisors shares creative ways he grew the business serving ultra-high net worth clients with a level of continuity that he could not achieve on his own or as an employee of UBS.
By Mindy Diamond – When it comes to freedom and control, there are key differences amongst the independent broker dealer (IBD) and registered investment advisor (RIA) spaces that every advisor should be aware of.
Louis Diamond Quoted – By Lynnley Browning, Financial Planning – Financial advisors increasingly want to work for themselves. “Newly independent advisors often become so intoxicated by opportunity (establishing ancillary business lines, M&A opportunities, participating on social media and in the press and literally screening out hundreds of vendor options) that they sometimes lose sight of the basics.
For Barry Mitchell, a top UBS breakaway, launching RIA firm Next Level Private was the answer to this question. Because for Barry and his team to become true fiduciaries meant: Being free from any proprietary constraints and with the newfound ability to shop the street for the best possible products, services and price on behalf of their clients. The ability to create a truly bespoke offering designed specifically around what clients need and want.
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