Diamond Consultants

JANUARY 10, 2023

While many veteran advisors struggle with the thought of their eventual retirement and succession, the dearth of young advisor talent to fill the ranks compounds the concern. And while these retire-in-place programs are one way to monetize your business at day’s end, they are certainly not the only way. Have a plan B.

Recruitment 59

Recruitment Financial Advisor Planning Retirement 59

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. Bound by sunset agreements The ability to acquire businesses from retiring advisors is a great way to leapfrog an advisor’s growth.

Clients 52

Clients Compliance Retirement Management 52

Inside Information

MAY 30, 2023

Another uncomfortable fact is that these BDs have enormous compliance departments which supervise all of the communications put out by the reps and their offices—which is required by FINRA. The compliance people have to pre-approve their communications. Sales are important, but the BD executives won’t be talking about that.

Communication 40

Communication Sales Insurance Compliance 40

The Big Picture

AUGUST 15, 2023

And so alongside of Wall Street recruiting in my senior year, I interviewed at the Yale Investments Office and was fortunate to get that job and violated the two principles I had at the time, which was I wanted to be in a training program and I wanted to leave New Haven. Let me say what your compliance wouldn’t allow you to say.

Management 130

Management Investments Investing Government 130

The Big Picture

APRIL 25, 2023

Brian Hamburger has been one of the leading authorities in the world of registered investment advisories, broker-dealers, SEC regulatory compliance. And I would constantly hear them frustrated by the compliance department. HAMBURGER: They were just blaming compliance for everything they couldn’t do. RITHOLTZ: Right.

Compliance 162

Compliance Clients Wealth Management Management 162

The Big Picture

JULY 26, 2022

It might be a management team that wants to retire, or exit. It’s always the transaction that the seller wants to do is they want to retire. I mean, I don’t — RITHOLTZ: So this is really devious recruitment. WEAVER: — you know, my teaching and recruiting. And that’s great.

Consulting 298

Consulting Numbers Management Investments 298

Diamond Consultants

DECEMBER 20, 2022

With recruiting particularly active at Morgan Stanley and UBS, advisors demonstrated that it’s still the right model for many of them. That is, placing greater focus on building a business with the end in mind, even if it meant eschewing a significant recruitment package.

Recruitment 59

Recruitment Compliance Wealth Management Banking 59

The Big Picture

MAY 9, 2023

RITHOLTZ: what we’re really talking about is, hey, we have a bunch of people retiring in 10 years and we expect to have to pay out X dollars. So we have a pretty well tried and tested campus recruitment approach. So we have a tried and tested kind of campus recruitment approach. Capital rules were changing. SALISBURY: Yes.

Assets 299

Assets Clients Investing Investments 299

The Big Picture

SEPTEMBER 10, 2024

I don’t even know what it’s going to be yet, but I mean, I’m not retiring. You know, when you, and then we recruit, you know, we talk to people, young people always say, you probably haven’t even ever had a B on your report card. You have to get compliance. 00:12:37 [Speaker Changed] Really interesting.

Valuation 162

Valuation Clients Investments Investing 162

The Big Picture

JULY 29, 2024

So built in a retirement offering an insurance offering, expanded their mutual fund offering, expanded their ETF offering. 00:08:01 [Speaker Changed] And then from AssetMark, in October, 2023, you’re recruited to become CEO at Orion. And they wanted to ensure that they had the investment platforms they needed to compete globally.

Clients 147

Clients Portfolio Financial Advisor Investments 147

The Big Picture

SEPTEMBER 5, 2023

And what is remarkable about some of the towns or cities in Florida is they now hire employees specifically to recruit CEOs from the Northeast who then will bring their companies to Florida. That it’s sort of evolving from a place you go to vacation or visit to a place that you live. MILLER: Right.

Sales 130

Sales Numbers Marketing Marketing 130

Sara Grillo

SEPTEMBER 26, 2022

Along his journey he has been quoted in the following publications: The Wall Street Journal, Investor’s Business Daily, Kiplinger’s Retirement Report, TheStreet.com, Cheddar.TV, Crain’s Detroit Business and MarketWatch.com; among others. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice.

CFP 59

CFP Financial Advisor Financial Planner Ethics 59

The Big Picture

MARCH 21, 2023

ASNESS: Well, I was striving for uncorrelated, but then the compliance officer in my head is saying sometimes it doesn’t come out to zero all the time. And it’s really not a compliance reason, I hope it’s more of an intellectual honesty reason. RITHOLTZ: Meaning it would be a recruitment challenge. ASNESS: Yes.

Valuation 173

Valuation Investments Investing Numbers 173

The Big Picture

DECEMBER 10, 2024

They have a bunch of databases, there’s compliance issues, there’s, you know, cyber, there’s there all kinds of things. Is that what led to Bay Pine getting launched and you kinda coming outta retirement to, to try it again? It’s not like these companies have no tech. 00:44:16 [Speaker Changed] Yes.

Engineering 130

Engineering Consulting Manufacturing Investments 130