By Mindy Diamond – Advisors at big brokerage firms have found themselves in a world driven by a zero-tolerance culture—an environment where compliance departments rule with a heavy hand while management is focused on the lowest common denominator. It’s a transformation that evolved over the last several years as firms became more risk-averse, creating an incongruence between advisors who want to provide a bespoke experience for their clients and a compliance department that wants to put a narrow box around them.
By Wendy Leung – It’s interesting how some of the most basic principles of business planning often end up at the bottom of so many advisors’ lists. No doubt, the hectic day-to-day schedule of working on “Plan A” can make it difficult to carve out the time to even consider an alternate plan for the future—that is, a “Plan B”.
By Mindy Diamond – The new hyper-compliant world has left many advisors with a pink slip in hand, thinking they have reached the end of their careers. Yet there are steps a terminated advisor can take to get back in business.
Barbara Herman Quoted – By Danielle Verbrigghe, FundFire – A spate of recent firings of high-profile advisors shows that wealth management firms aren’t afraid to cut top-producing advisors in certain situations, but captive brokerages will fight to retain their clients’ assets, recruiters and consultants say.
Mindy Diamond Quoted – By Brooke Southall, RIABiz – In what could well be an emerging trend of making a final goodbye out of what used to be just a wrist-slapping infraction, Merrill Lynch fired an advisor team from its elite Private Banking and Investment Group for advising clients on the purchase of a hedge fund not on the Merrill Lynch platform.
