February 28, 2020
Louis Diamond Quoted
By Mrinalini Krishna
As advisors walk away from wirehouses, independent broker-dealers have been welcoming them in.
IBDs such as LPL Financial, Raymond James and Ameriprise Financial, in particular, have been successful in attracting wirehouse breakaways, says Louis Diamond, executive vice president and senior consultant at Diamond Consultants.
Other firms, such as Commonwealth Financial, Cambridge and Kestra Financial have likewise drawn talent from wirehouses or employee channels, but to a lesser degree, he adds.