Mindy Diamond Quoted
By Jeff Benjamin
More than a year after committing to cut spending on brokerage rep recruiting, the results are hitting the bottom line at UBS Wealth Management Americas.
“It’s a very smart short-term play, but I’m not sure how sustainable it is because the rest of the industry is still recruiting with abandon,” said Mindy Diamond, president of the recruiting firm Diamond Consultants.
“The big firms run on scale, so if they keep having attrition without replacing those reps it will be bad for them in the long run,” she added.
