What does it mean when superstar breakaway brokers bolt again?
June 12, 2019
Mindy Diamond Quoted
By Bruce Kelly
In 2008, when a group of advisers in charge of $7 billion Merrill Lynch to set up their own RIA, Luminous Capital Holdings, the financial advice industry was aghast. It was an audacious move, particularly for a team of all-star financial advisers.
“When they left Merrill Lynch, it was a watershed moment for the industry,” said Mindy Diamond, an industry recruiter. “And it was another watershed moment to sell to First Republic, and another such moment to leave again. They are entrepreneurial and wanted to be independent again.”