Louis Diamond Quoted
By Paul Katzeff
You are hot. Your client book is growing. Now you are considering establishing your own practice, either by yourself or with one or two trusted colleagues. A key question you face is how to handle the tasks that a broker-dealer tackles.
It’s really all over the map,” said Louis Diamond, vice president of Diamond Consultants, a recruitment firm that specializes in financial advisors. “Some larger brand names offer advisors larger upfront (bonuses or ‘transition packages’) for affiliation. It can be 20% to 30% of your annual revenue. But then the broker-dealer often charges more for ongoing services.”
