Diamond Consultants

AUGUST 23, 2023

On the one hand, as the largest global wealth manager, the firm boasts an internationally renowned brand, a sophisticated investment, trust, and lending platform, and a more boutique feel than its direct competitors. On the other hand, the firm is experiencing significant advisor attrition.

Recruitment 52

Recruitment Wealth Management Clients Communication 52

Wealth Management

JUNE 14, 2023

Nationwide's Kristi Rodriguez looks forward regarding retirement income, next-gen clients and how to recruit diverse talent to the financial services industry.

Retirement 98

Retirement Recruitment Financial Services Clients 98

Diamond Consultants

MARCH 13, 2024

Although there are similarities across firms, there are noticeable cultural and strategic positioning differences amongst the major players: For example, Bank of America’s ownership of Merrill relative to the wealth management focus of Morgan Stanley and UBS. We continue to believe that there has been no better time to be an advisor.

Recruitment 52

Recruitment Wealth Management Retirement Clients 52

Diamond Consultants

APRIL 16, 2024

6 ways to ride off into the sunset for advisors without a next gen in the wings The wealth management community agrees on one thing: We have a massive next gen talent gap, and it’s worsening with each passing year. Providing a succession plan whereby the clients can continue to be serviced with little to no interruption or friction.

Recruitment 52

Recruitment Retirement Clients Planning 52

Abnormal Returns

NOVEMBER 21, 2022

wealthmanagement.com) Brendan Frazier talks the four pillars of a client discovery meeting. wiredplanning.com) Douglas Blake, Managing Director of Investment Services at Kingswood U.S., wsj.com) Advisers How to recruit, train and retain next generation advisers. riabiz.com) What mid-life women need from a financial adviser.

Asset Allocation 144

Asset Allocation Financial Planner Recruitment Financial Advising 144

Diamond Consultants

DECEMBER 19, 2023

There are important differences between Morgan Stanley, Merrill, UBS, and Wells when it comes to their cultures, economics, platforms, emphasis on wealth management, etc. If you feel well-served at your current firm, you still have an obligation to your clients and your team to periodically ensure that there isn’t something better.

Recruitment 52

Recruitment Wealth Management Compliance Clients 52

Diamond Consultants

APRIL 12, 2023

The natural order is being tested in the wealth management industry. Imagine a horizontal line on an otherwise blank sheet of paper: This line represents the wealth management industry landscape. Clients are more concerned than ever (and rightfully so) about the safety and security of their assets.

Banking 52

Banking Wealth Management Recruitment Clients 52

Nationwide Financial

DECEMBER 8, 2022

These diverse leaders will also discuss an innovative recruiting event recently hosted by FARE, which attracted HBCU students from across the country who envision a future for themselves in financial services. What does it take to attract top diverse talent to your firm?

Recruitment 52

Recruitment Financial Services Certification CFP 52

Diamond Consultants

JUNE 14, 2023

When advisors evaluate wealth management firms, there is a series of items they are (rightfully) concerned with above all else. Here are eight critical, yet less obvious, considerations: Client/Book Ownership: There are firms that write into advisor contracts that the advisors own the client books.

Recruitment 52

Recruitment Wealth Management Economics Clients 52

Inside Information

DECEMBER 26, 2023

Recently, he wrote a whitepaper that predicted what I would interpret as a cybersecurity apocalypse where suddenly the bad guys successfully targeted advisors and stole from their clients. Hurley is running a new firm that advisors can subscribe to that would offer cyber protection to their clients.) Conclusions?

Wealth Management 40

Wealth Management Clients Management Numbers 40

Sara Grillo

OCTOBER 21, 2022

In this blog, I interview paraplanning professionals to get their take on what the role is, what it pays, and what it potential is for someone who wants to get a job as a financial paraplanner, possibly as a stepping stone to other wealth management jobs. He never had more than five paraplanning clients at a time.

Insurance 98

Insurance Financial Planner Fee Only Financial Advisor 98

Diamond Consultants

MARCH 14, 2023

In a world driven by the bottom line, the root of contentment often lies behind less “easily measured” criteria For all of the time, energy, effort, and money that firms spend on recruiting advisors, there’s one critical question they often neglect to address. Is there red tape that is hindering the advisor and client experience?

Financial Advisor 59

Financial Advisor Recruitment Clients Compliance 59

Diamond Consultants

JUNE 28, 2023

Take Vincent Finney, Ryan Bibler, and Joseph Panfil, for example: Former UBS advisors managing $800mm in AUM, who were looking to achieve greater freedom and control, and decided to move from UBS to Wells Fargo’s W-2 Private Client Group. First, UBS left the Protocol for Broker Recruiting.

Compliance 52

Compliance Recruitment Clients Compensation Planning 52

Diamond Consultants

DECEMBER 5, 2023

Increasing bureaucracy, rising compliance restrictions, diminishing freedom over investments, and client communications—just a few of the issues we hear about from advisors every day. For some, it may result from not having ready access to the holistic and high-end resources needed to land and retain HNW and UHNW clients.

Compliance 52

Compliance Clients Retirement Recruitment 52

Diamond Consultants

NOVEMBER 15, 2022

OK, so maybe they weren’t specifically speaking to wealth managers…) Regardless, it is a question on the minds of most, if not all, advisors in this world of heightened optionality and competition for top talent. For others, it’s about being left alone to freely serve clients as you see put. I have too many clients.”.

Financial Advisor 59

Financial Advisor Clients Recruitment Wealth Management 59

Diamond Consultants

MAY 27, 2022

And, for those who moved, did their clients follow? What about the Broker Protocol and client portability? The Broker Protocol is a framework for recruiting that allows advisors moving to/from certain firms to take select client information with them and freely solicit clients upon resigning. Updated: May 31, 2022.

Recruitment 52

Recruitment Clients Compliance Wealth Management 52

Diamond Consultants

MAY 3, 2022

There’s been an interesting shift in movement amongst one sector of wealth management: private bankers. By our count in 2021 alone some 19 teams managing over $88B in assets transitioned from private banks. By our count in 2021 alone some 19 teams managing over $88B in assets transitioned from private banks.

Banking 52

Banking Wealth Management Commission Assets 52

Indigo Marketing Agency

JANUARY 24, 2024

Michael Kitces Reason to Follow: Unparalleled insights and thought leadership in financial planning and wealth management Michael Kitces, a legend among financial advisors, is an industry name who needs no introduction. billion in client assets. So, here are the top influencers to watch this year.

Financial Advisor 52

Financial Advisor CFP Financial Services Education 52

eMoney Advisor

DECEMBER 15, 2022

The RIA model has outpaced other categories in wealth management, with 12 percent annual growth in assets observed since 2016. 5 A recent Wall Street Journal analysis showed that 14,800 SEC-registered advisors managed over $128 trillion in 2021, up from 10,500 SEC-registered advisors with $55 trillion in AUM in 2012.

Financial Planner 74

Financial Planner CFP Certified Financial Planner Financial Advisor 74

Indigo Marketing Agency

JANUARY 24, 2024

Michael Kitces Reason to Follow: Unparalleled insights and thought leadership in financial planning and wealth management Michael Kitces, a legend among financial advisors, is an industry name who needs no introduction. billion in client assets. So, here are the top influencers to watch this year.

Financial Advisor 52

Financial Advisor CFP Financial Services Education 52

Diamond Consultants

JUNE 7, 2022

I’m crushing it, I’m growing like crazy, and I’m only focused on how to serve my clients, grow my book, and earn a fair wage,” they might have said. Said advisor obviously has no trouble growing their book, take-home comp is robust, and their clients are largely content. Why would I worry about that now when I have 15 years left in me?

Retirement 52

Retirement Recruitment Wealth Management Clients 52

Diamond Consultants

MAY 17, 2022

As a result, most wealth management firms have developed programs – such as Merrill’s CTP (Client Transition Program), Morgan Stanley’s FAP (Former Advisor Program), and UBS’s ALFA (Aspiring Legacy Financial Advisor) Program – that allow senior advisors to retire in place and the next gen to take-on ownership of the business over time.

Retirement 52

Retirement Planning Recruitment Wealth Management 52

The Big Picture

MAY 9, 2023

He is the Chief Investment Officer of Asset and Wealth Management at Goldman Sachs. He’s a member of the management committee. He co-chairs a number of the asset management investment committees. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, GOLDMAN SACHS: Thanks, Barry.

Assets 286

Assets Clients Investing Investments 286

Diamond Consultants

MARCH 19, 2024

There are several questions advisors routinely ask us about the changes we see in the wealth management industry as they relate to advisor movement and deals. Which firms are the most successful recruiters? Why it played out this way: Perhaps we were a bit early, and 2024 will be the year of the PE-wirehouse recruiting trend.

Recruitment 52

Recruitment Wealth Management Numbers Clients 52

Diamond Consultants

OCTOBER 4, 2022

So far, this year has proven that advisors are the real winners as firms have stepped up their games to become attractive landing spots with strong recruitment deals to match. Which firms are winning the recruiting race, and which are losing? Independent firms saw the most success in recruiting— adding 287 advisors on a net basis.

Financial Advisor 52

Financial Advisor Recruitment Wealth Management Consulting 52

Diamond Consultants

DECEMBER 20, 2022

A look back – and forward – on the forces behind an evolving wealth management industry. That is, clients wanted more from their advisors; advisors wanted more from their firms; and the firms, too, wanted more from their advisors. By Mindy Diamond and Louis Diamond.

Recruitment 59

Recruitment Compliance Wealth Management Banking 59

SEI

SEPTEMBER 17, 2022

Sanjay has dove right in, Rajiv, and he's been out on the road seeing our clients both domestically and globally. As we actually sign new clients, we need to bring those clients on board. That being said, the SAS clients are predominantly the larger firms. Ryan Hicke: Sure. Then an implementations bucket.

Clients 49

Clients Assets Banking Planning 49

Sara Grillo

SEPTEMBER 26, 2022

The debaters are: Robert Wright, CFP®, a financial consultant with Advocacy Wealth Management. JR: The advisors were as much the victims as their clients were, and the brokerage firm would say they were all inappropriate behavior, so they’re all disclosures. Robert will be on the “for” team. Scott Salaske of Firstmetric.

CFP 59

CFP Financial Advisor Financial Planner Ethics 59

The Big Picture

APRIL 25, 2023

Now, full disclosure, Ritholtz Wealth Management has been around a decade. My first job out of law school was at a mid-sized law firm out of Princeton, New Jersey, and I would have clients who wouldn’t call when an issue arose. For most of the clients that come to us for startup work, right? We retained your firm.

Compliance 152

Compliance Wealth Management Clients Management 152

The Big Picture

MAY 2, 2023

I was working at UBS in wealth management. I was in wealth management at UBS, and this was 2008 when Lehman collapsed, and the world effectively imploded, certainly for people of my age who had no authority at all. BENJAMIN CLYMER, EXECUTIVE CHAIRMAN, HODINKEE: Yes. RITHOLTZ: First, what were you doing at UBS?

Retail 161

Retail Insurance Advertising Numbers 161

The Big Picture

MAY 16, 2023

But, but for other people, we have, we have clients who’ve sold businesses. Josh Brown is the partner at Ritholtz Wealth Management, but for you, I never would have met Josh. It’s meaningless. LINDZON: Right. So at worst it was $5, but at best it was still negative because that person told five other people.

Media 278

Media Investing Investments Valuation 278