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In the News

Wirehouse Firings: The Numbers, the Reasons and What’s Coming

Posted by Louis Diamond

May 19, 2021
Louis Diamond Quoted
By Peter Rawlings and Ming Li

Wirehouses fired fewer registered representatives in 2020 compared to the previous year, a Financial Advisor IQ analysis of data from regulators in the four most-populated U.S. states shows.

But there are areas that firms are especially “dialed into,” including digital signature violations, non-sales practices or firm policy-related violations, says Louis Diamond, president of recruiting firm Diamond Consultants.

While the dip in overall firings during 2020 is “quite surprising,” Diamond notes that most firms have grown stricter, adopting “zero-tolerance” policies toward compliance violations.

Read more…

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About Louis Diamond

President – 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...

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