• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
  • Services
    • For Financial Advisors
    • For Financial Services Firms
    • For Independent Business Owners
    • Our Process
    • Case Studies for Financial Advisors
    • Representative Deals
  • FAQs
  • Blog
  • Podcast
    • Industry Update
    • Independence 101 Series
  • News/Media
  • Tools/Resources
    • FAQs for Merrill Advisors
    • FAQs for UBS Advisors
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Howard Diamond
      • Louis Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Shelley Muzio
      • Laura McGreevy
      • Caryl Felicetta
    • Testimonials
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
    • For Financial Services Firms
      • Recruiting
      • Sell-Side M&A Advisory
    • Our Process
    • Case Studies for Financial Advisors
    • Representative Deals
  • FAQs
  • Blog
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • News/Media
    • Moves in the News
  • Tools/Resources
    • FAQs for UBS Advisors
    • FAQs for Merrill Advisors
    • Other Tools For Advisors
    • Subscribe to e-Newsletter

In the News

Why RIAs raid other RIAs for talent

Posted by Louis Diamond

July 31, 2020
Louis Diamond Quoted
By Ian Wenik

A new study from Charles Schwab indicates that RIAs are increasingly looking amongst themselves for new talent.

According to the RIA custodian’s 2020 RIA benchmarking study, other RIAs were the most popular source of talent for advisory firms with more than $250m in assets under management. Schwab found that 39% of respondents to its survey — which contained self-reported data from 1,010 firms — recruited staffers from fellow independent advisory businesses in 2019.

Why go to other RIAs? It may be a matter of convenience, explained Louis Diamond, an executive vice president at advisor recruiting firm and consultancy Diamond Consultants.

‘Recruiting an RIA advisor (non-owner) is often the best fit for RIA hires as they are paid in a similar fashion, aren’t expecting big upfront deals, are used to the team based culture of an RIA, and if they are bringing a book they often do not have to repaper as they can retain the same custodian,’ Diamond said.

Read more…

You may also be interested in...

Share
0
Louis Diamond

About Louis Diamond

Executive Vice President, Senior Consultant – Someone who “looks at every angle from a strategic perspective.” Sophisticated advisors and business owners alike learn quickly that they’ve found the right person in Louis when seeking counsel and clarity on growth, career management and the ever-changing industry landscape. Learn more...

Recent News & Articles

  • Deferred Comp Pits FAs Against Wirehouses
  • Considering a move? Here’s what financial advisors can – and can’t – say to clients.
  • Integrated Advisors Network Builds Out Pathway for Breakaways
  • How “The Year Unlike Any Other” Will Reshape Wealth Management in 2021
  • SVB Financial to buy Boston Private for $900m
Mindy Diamond On Independence Podcast
We're available to answer your questions. Contact us

Connect with us

Search

© 2021 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.

  • Home: Leading Financial Advisor Recruiting Firm
  • About
  • Services
  • FAQs
  • Blog
  • Podcast
  • News/Media
  • Tools/Resources
  • Contact
  • Our Locations
  • Privacy Policy
  • Site Map