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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

The Producing Office Manager – Asset or Competition?

Posted by Barbara Herman

Barbara Herman Quoted
By Susan Konig

Over the last decade, consolidation and other “efficiency” initiatives have resulted in the loss of jobs for thousands of wirehouse branch managers. …

As the big firms continue to consolidate, this is a choice more and more non-producing managers will inevitably face. The job can be rewarding for those who manage to pull it off. Not surprisingly, time management skills are critical, as is the ability to ensure other full-time reps that their turf is not being invaded from an internal competitor.

Non-producing branch managers get a base salary—typically between $75,000 and $140,000 a year, says Peterson. “While compensation structures differ from firm to firm,” says Barbara Herman, senior VP of  Chester, NJ- based Diamond Consultants,  “it’s safe to assume that a producing manager’s total earnings have a lot to do with his own book of business.”

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About Barbara Herman

Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...

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