Barbara Herman Quoted
By Miriam Rozen
Last October, almost three weeks before Merrill Lynch Wealth Management’s Andy Sieg disclosed that his wirehouse’s 2019 compensation plan for advisors included a haircut, his management team pre-emptively attempted to downplay the reduction’s significance.
“There has been a day of reckoning and it is hard for big firms to ignore that there has been attrition — and regrettable attrition,” says Barbara Herman, a senior vice president at New York-based recruiting firm Diamond Consulting.
