Mindy Diamond Quoted
By Lisa Shidler
If you’re trying to build a giant RIA to $100 billion in assets, you won’t get there if you give up easily. Focus Financial founder and chief executive Rudy Adolf, for instance, spent seven years trying to convince Colleen Lindstrom, CEO of Merriman Inc., to sell her $1.5 billion firm to his company.
Mindy Diamond, CEO of New York-based Diamond Consultants LLC, says that Focus provides ample resources to firms that are seeking to reward employees with equity ownership and are also eager to grow inorganically.
“Firms like Merriman are realizing that if they don’t have enough capital to recruit the top talent that they will need help in growing,” Diamond says. “It takes years to find the right partner — the one you want to share you bed with every day. Focus allows all of the resources advisors want and need but still lets them be independent.”
