If you are an advisor who is looking for a greater level of freedom and a chance to build what our forefathers saw as the American dream – that is, a business based on choice, flexibility and an opportunity to build equity for your future – then you’ll want to read these articles.
Merrill Lynch’s second act for RIA reinvention is revealed but may yield ‘field day’ for classic RIAs in the short term
Howard Diamond and Louis Diamond Quoted – By Lisa Shidler, RIABiz – Bank of America made the second major move of an emerging master plan to recast Merrill Lynch as more of a bank subsidiary and less of a renegade satellite.
Mindy Diamond Quoted – By Danielle Verbrigghe, FundFire – RBC has launched a new wealth management technology platform for its registered investment advisor (RIA) and independent broker-dealer clients. This comes as the firm has taken other steps aimed at expanding its RIA custody channel. The RIA custodian market is dominated by four big players, Charles Schwab, TD Ameritrade, Fidelity and Pershing, explains Mindy Diamond, president and CEO of Diamond Consultants, a financial advisor recruiting firm that does work in the independent advisor channel. That can make it tough for other firms focused on growing in the RIA channel to gain market share.
Podcast featuring Mindy Diamond – Interviewed by Sean Kernan, How To Go Independent – As an advisor who worked with Mindy and chose the path to independence, Sean asks Mindy questions about her experience as a consultant and recruiter for financial advisors. Listen in as they discuss the process a financial advisor goes through when deciding the next steps in their career.
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.
By Wendy Leung – As the wealth management landscape evolves, we continue to watch a steady stream of top advisors leave the traditional wirehouse space for independent RIA models. Although independence invariably gives these advisors greater freedom, flexibility and control, we also need to ask the question, “What’s in it for their clients?”
LPL fires $10 billion RIA in Kansas City with both parties happy to keep the rift’s cause out of view
Louis Diamond Quoted – By Janice Kirkel, RIABiz – Just months after LPL Financial got its walking papers from a $2.2-billion AUA hybrid, the Boston-based IBD has fired a $10-billion firm under circumstances shrouded in mystery. Louis Diamond, vice president of Diamond Consultants in Morristown, N.J., says LPL has recently stepped up its separations from associated firms and speculates that it may be part of a larger policy decision.
We welcome 2017 with optimism – albeit cautiously – and look forward to the opportunities that change will undoubtedly bring. They say that you need to look back in order to move forward, so with that we present our top 21 articles of 2016, including our new year’s forecast. Each had the highest amount of views and shares from our subscribers—and will provide a good deal of useful information to see your way into the new year.
Howard Diamond Quoted – By Matt Sonnen, Iris – Howard Diamond of Diamond Consultants declared it the “most hectic week” they have ever experienced, and they’ve been leading the wirehouse recruiting game for over 15 years.
Louis Diamond Quoted – By Bruce Fraser, Financial Planning – What does it take to make a merger work in the rapidly consolidating registered investment adviser industry?
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