March 11, 2026
Jason Diamond quoted
By Tobias Salinger
More than six years after two financial advisors’ multimillion-dollar M&A deal, the subsequent legal wrangling is finally approaching its conclusion.
Last month, Jayne W. Di Vincenzo of the Chester, Virginia-based office of Curo Private Wealth won the state Supreme Court’s rejection of a bid by Devin J. Garofalo of Midlothian-based Colonial River Wealth Management to vacate her FINRA arbitration award of more than $2 million. Garofalo had argued that one of the arbitrators showed “evident partiality” toward her.
Such protracted legal disputes show why finding the right M&A partner or new firm destination on the recruiting trail involves so much more than securing the biggest check, according to Jason Diamond, the president of advisor recruiting firm Diamond Consultants. Deal structures that give either side an exit prior to full consummation can also help avoid disputes.
“Don’t think about it through the lens of what firm pays the highest multiple or the biggest deal,” Diamond said. “It’s either give yourself off-ramps or be super thoughtful about who you partner with, even if it’s not the highest bidder, because it very well might not be.”
