Louis Diamond Quoted
The Department of Labor’s fiduciary rule has certainly put a damper on broker recruitment deals, but it’s unclear whether wirehouses can keep them down, according to WealthManagement.com.
The DOL took no issue with the size of the incentive deals, however, but only with the back-end compensation, Louis Diamond, vice president of recruiting firm Diamond Consultants, tells the web publication. Rather, the wirehouses took the opportunity to lower the bonuses, he says.
UBS is increasing its recruiting efforts, offering top advisors deals of up to 550% of annual revenue while targeting experienced private bankers.
Advisors at some of the largest firms in the country are leaving, and not in a trickle. In 2024 alone, more than 9,600 experienced advisors changed firms, according to industry data from Diamond Consultants.
June 12, 2026Louis Diamond QuotedBy Andrew Cohen Median compensation for financial planners reached $195,000 in 2025, marking a 15% year-over-year
