November 14, 2023
Louis Diamond Quoted
by Julius Buchanan
Many aspects of advisor recruitment are quantifiable through various measurements – assets can be tallied, future earnings projected, and technology inventoried and evaluated – but cultural fit remains a quality rather than quantity that is best identified by the eye of the beholder.
To develop a clearer view of what cultural fit entails, how to factor it into transaction decisions and how much it changes over the long-term, we sought the views of expert recruiters, all of whom are executives from our Top 5 FA Recruiting Firms of 2023.
Louis Diamond, President of Diamond Consultants, notes the difficulty of deriving a definition of culture and instead describes characteristics that support cultural alignment, including “an advisor’s personality, collaboration preferences (lone wolf versus team-oriented), economic requirements (i.e., salary and bonus or paid on a grid and how important the economics are to the decision), demeanor and style of business.”