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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

Yahoo!’s Wells Fargo take-down may misunderstand branded wealth managers

Posted by Louis Diamond

Louis Diamond Quoted
By Brooke Southall

In a blistering 2,600-word article, Yahoo! Finance took Wells Fargo to task for allegedly converting its wealth managers to  salespeople to meet high-pressure goals while tossing clients into model portfolios without telling them.

Another industry expert contacted by RIABiz says Wells Fargo is largely in step with the rest of the bank-owned wealth management business. The expert said the article lacked perspective.

“The source of info seems to be all ex-employees who are always going to say something negative,” says Louis Diamond, principal of Diamond Consultants in New York.

“This doesn’t seem that dissimilar from what most firms are doing. Advisors are able to grow their businesses quicker and more efficiently, if they aren’t concerned with investments 24/7,” he adds.

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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