Howard Diamond Quoted
By Janice Kirkel
In a breakaway scenario with a number of stunning twists, an advisor team overseeing $1.7 billion of assets has bolted from a wirehouse — with its help.
“Profit-Formula isn’t offered anymore by Wells Fargo, it’s been gone for years, but if it were still around it would be very popular,” says Howard Diamond, managing director and chief operating officer of Diamond Consultants, a financial services search and consulting firm in Morristown, N.J.
“It offered upfront money to advisors, had a high payout, but still provided control over the bottom line. Diamond recruits for Wells Fargo but has not worked with the Cookes.
