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Content tagged "Diamond Consultants"

Diamond Consultants

Filed under: Recruiter
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Mark Casady: When our same-store sales are up, then recruiting is typically down.

LPL, Raymond James and TD data -- and Walt Bettinger, Mike Durbin comments -- reveal rotten first quarter for breakaways
Mark Casady's explanation is hard to swallow for Danny Sarch, Mindy Diamond; Bettinger inveighs against 'rat trap' of checkbook recruiting; Ryan Shanks says advisors are "numb to the chaos"

Friday 4.26.13
Matt Sonnen: I made a lot of mistakes along the way, and I hope I can help others avoid those.

Focus Financial goes after $100-million wirehouse brokers after hiring five employees suited to the task
The big New York aggregator will put the brokers through a one-year seasoning process before placing them in RIA foster homes

Monday 4.15.13
Scott Curtis says the payout changes were made with RIA custodians like Schwab, TD Ameritrade and Pershing in mind more than broker-dealers.

Raymond James launches 'phenomenal' RIA-like pay structure to the $100 million set
The custodian hopes its keep-all-the-gravy pay scheme will keep its own advisors from defecting and win would-be RIAs

Tuesday 3.19.13
Howard and I were passing the 'cool old house' and noticed a 'For Rent' sign.

How a top RIA recruiter made an 18th century landmark into a breakaway safe house
Burgundy ooze and bats were daunting but the American Revolution-era structure is now home to cloud technology and flat-screen TVs

Thursday 3.7.13
Mindy Diamond: You can imagine the size of transition packages that he was offered and turned down.

HighTower grabs sought-after $650 million Merrill Lynch 'life sciences' team and shrugs off recent deal slowdown
In the old money town of Philadelphia, the strategic buyer is 'planting a flag' and going after new wealth created in the biotech realm

Wednesday 2.20.13
Haley Rockwell: It didn't make sense to structure it as an acquisition, because I want to grow with the business.

How three small firms backed with big-time M&A muscle brought in $450 million with strategic buys
There are vivid back stories behind each Focus-owned firm's deal; taken together they could show the way forward for the aggregator model

Thursday 1.24.13
Dwight Mathis: By the time they graduate after 43 months it'll put clear blue sky between us and our competition.

Merrill Lynch makes bold moves to train new recruits for an RIA-centric future
The rethought training program suits up new advisors -- many of them career changers -- for independence as well as for the wirehouse path

Wednesday 11.21.12
Mark Sear says that referring clients to outside lenders was not working well for his firm.

First Republic pays a staggering sum for Luminous Capital, sources say, and shifts the breakaway and M&A games in the bargain
Recruiters are getting renewed interest from big wirehouse teams and the $125 million deal shows that breakaway brokers can realize big enterprise value in short order

Thursday 11.8.12
Matt Dillig: Everybody calls the same people but not everyone has the same outcome.

How a young, new HighTower recruit built his business to $1 billion in assets with just 30 clients
Matt Dillig's team is the Chicago aggregator's first 'get' from Credit Suisse, known for its superwealthy clients

Wednesday 8.22.12
Scott Smith: It almost seems like collecting the $15 fee would be more labor for UBS then it's worth.

Is UBS channeling its inner IBD in levying $15 charges on its advisors for redundant mobile devices?
The wirehouse's charges seem on target on paper but are they penny rational and pound foolish?

Wednesday 8.8.12
Walt Bettinger: This is a whole new ball game when you're a franchise with Schwab

Walt Bettinger explains to Wall Street why some prospects are balking at investing in Schwab franchises
The Schwab CEO tells listeners of the interim update that the $10 million asset-gathering quota is a psychological hurdle -- but one that can be overcome

Friday 4.27.12
Tim Oden: If this doesn't get you motivated to make calls every morning then you need to check your pulse.

Fed up wirehouse advisors more eager to leave than ever, study says
A whopping three out of four advisors would take a call from an RIA recruiter, the Schwab study shows -- but what then?

Tuesday 2.28.12
With Sallie Krawcheck purged, 'the game is about to change in a big way', a former Merrill exec says.

Merrill Lynch brokers brace for sweeping comp changes as Sallie Krawcheck departs BoA and takes her advocacy with her
It's like 2008 all over again with some brokers just wanting out as clients question choice of employer, recruiter says

Wednesday 9.7.11
Bill Dwyer: They probably just wore us down. The press just asked for more and more access.

LPL opens focus11 to reporters for first time - with provisos
With the big IBD's business mix tilting more toward RIA custody, more open media policies seem to have followed

Friday 8.5.11
Alois Pirker: Firms will have to renew retention bonuses next year or brokers will jump ship.

RIAs and online brokers are winning the market-share game
Wirehouses will have to re-up retention bonuses or see mass migrations of top producers

Wednesday 7.27.11
Michael Durbin: It may seem elegant and easy to take a check and walk across the street, but it’s important to spend the time to get to the right destination.

Fidelity study: Breakaway RIAs could pocket millions in after-tax profits
Dazzling wirehouse retainer deals are nice but going it alone can pay much, much better after taxes get figured in

Tuesday 6.7.11
John Peluso: "We believe in choice."

FiNet's wirehouse-lite model scores with advisors
Investment in recruiting pays off with highest average assets among IBDs

Thursday 5.12.11
Mindy Diamond: In a perfect world, most advisors would say that they would love to have their own business, and control their destiny. But it’s not a perfect world.

The six traits that separate successful independents from wirehouse denizens
Mindy Diamond's advice on how to see the realistic reflection in the mirror.

Friday 4.29.11
Mindy Diamond: Right now, independence is what’s hot.

Why Mindy Diamond is morphing her firm away from pure wirehouse recruiting
Fees are still paid on contingency so a sit-down with her consultancy costs nothing

Friday 4.29.11
Having been through the integration of U.S. Trust into Bank of America and then watching the beginning of Merrill Lynch’s acquisition, Stacey Reinhart predicts continuing instability, which she says is bound to hurt clients.

U.S. Trust advisor joins an RIA after surviving the firm's sale to Bank of America
Stacey Reinhart joins Emerson Investment Management to get back to basics

Tuesday 8.24.10
Charles Huebner: You can see it in their eyes. They say: You can tell what it is like to take the risk.

Two senior UBS brokers pass on retirement to pursue aggressive breakaway plan
Huebner and Jagger are winding up, not down with multi-faceted growth strategy

Tuesday 3.16.10
Chet Helck: We are still attracting top-tier advisors

Raymond James wins breakaway brokers that are 'pragmatists'
With the get-me-out-of-here mentality mostly gone, a breakaway of a more deliberate stripe steps forward, recruiter says

Saturday 2.13.10
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Most Emailed Stories »

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Story » Grant Barger: Any prospect should ask: What is your purpose?5 questions advisors must prepare to answer to remain relevant Read 
Story » Cathy Curtis: My goal is to have prospective women clients find me on LinkedIn.RIAs recount how they reap new clients using LinkedIn and Twitter, stealing a march on shackled wirehouse advisorsRead 
Story » Mark Tibergien: It's been a dream of ours.Pershing and BNY Mellon unveil a unified, 'dream' RIA and bank custody unitRead 
Story » Jeffrey Concepcion: I'd tell you the biggest victory was the vindication and comments from former co-workers.How Jeffrey Concepcion manned up after FINRA and Lincoln Financial troubles to become an LPL giantRead 
Story » BloombergBlack, which registered as an RIA with the SEC in 2010, has 33 employees, including former branch managers from TD Ameritrade and Fidelity will occupy a few square feet of this building. What is up with Bloomberg launching an RIA, BloombergBlack, and hiring a bunch of ex-TD, -Fido and -Schwab folks to staff it?