• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
    • Moves in the News
  • Tools for Advisors
  • Diamond Consultants Advisor Transition Report 2022
  • NEW – Edward Jones Advisor Transition Report 2022 edition
  • NEW – Merrill Advisor Transition Report 2022 edition
  • NEW – UBS Transition Report 2022 edition
  • Merrill Information Hub
  • UBS Information Hub
  • 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
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
      • Kelly Griffiths
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
    • Transition Announcements
  • Tools for Advisors
    • NEW – Diamond Consultants Advisor Transition Report 2022
    • NEW – Edward Jones Advisor Transition Report 2022 edition
    • NEW – Merrill Advisor Transition Report 2022 edition
    • NEW – UBS Transition Report 2022 edition
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

In the News

Wirehouses Are Evolving to Compete with Smaller Firms

Posted by Louis Diamond

July 8, 2021
Louis Diamond Quoted
By Peter Rawlings

When Morgan Stanley co-president Andy Saperstein described the firm as more than a wirehouse, he spoke to a broader shift taking place in the financial arena. The traditional large advisory firms are, after all, gradually shifting business models, changing training protocols and adding new channels in an attempt to expand beyond their usual footprint.

“That represents a shift in the types of advisors that they want to work with and perhaps a movement toward the traditional Swiss private banking model rather than the U.S.-based style,” says Louis Diamond, president of recruiting firm Diamond Consultants.

Merrill is not actively recruiting experienced talent, drawing instead from employees of parent Bank of America and Merrill Edge. That’s a marked difference from past practices as those advisors end up with different training and often don’t build their own businesses from scratch, says Diamond.

Read more…

You may also be interested in...

Share
0

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...

    Recent News & Articles

    • What’s the ‘Real’ Value of a Financial Advisor’s Business?
    • The Inverse Grid: Is Your Firm Providing Enough Value?
    • Move to JPMorgan Is Full Circle for Many First Republic Advisors
    • JPMorgan begins love-bombing campaign to keep First Republic advisors
    • Financial Advisor Teams Come in Many Flavors. How to Pick the Right One for You
    See. Here. Now.
    We're available to answer your questions. Contact us

    Connect with us

    Search

    © 2023 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

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