Howard Diamond Quoted
By Andrew Welsch
When HighTower recently landed the head of a team overseeing $500 million in client assets at Oppenheimer, the move illustrated a nagging problem when groups split: Who gets the clients after a divorce?
While Oppenheimer declined to further specify how the firm and team intended on keeping the clients, recruiter Howard Diamond offered some possibilities.
“The firm that has lost the advisors, they’ll give that [remaining] partner a lot of resources to call the clients and say, ‘Listen Joe and Jane left, and I want you to stay, and here’s what we can do for you,'” he says.