Mindy Diamond on Independence: An Update on Advisor Movement in the Wealth Management Industry

We’re in the information business. Sure, we’re recruiters, and while the outcome of guiding advisors through due diligence is they decide to make a move (or not), to take on that responsibility of being a “trusted guide” means we need to know our stuff. And we’re happy to share all that we know.

Because each and every day advisors are asking us things like:

  • Why are advisors at big brokerage firms changing jerseys so often?

  • Why are independent advisors making moves?

  • Which firms are top in recruiting and which are losing?

  • What are transition deals like and where are they trending?

  • What are some of the key factors driving changes to competitive recruiting?

  • What are some real-world examples of recent moves?

So we searched out the answers and realized something:

We were sitting on a goldmine of data.

Because to our knowledge, there was no singular source of such information.

That is, a comprehensive, data-driven exploration of financial advisor movement over a specific timeframe.

And as students of an ever-changing industry (like so many advisors we counsel), we are genuinely curious about what this hard-to-obtain data might reveal.

So with the episode we launch the first edition of the Diamond Consultants Transition Report. A semi-annual review of Advisor Movement in the Wealth Management Industry.

This report serves as a framework for advisors who are curious about movement and deal trends—and the potential impact on their careers and businesses.

Louis Diamond and Jason Diamond discuss the process of creating this report, how the data was derived, and how the analysis was created. They share the top 10 key takeaways gleaned from the report and explore two representative deals from the first half of this year. Plus, they offer a glimpse into how the trends of H1 2022 are impacting what we anticipate for the balance of this year and beyond.

Download the report

Download a transcript of this episode…

Listen to more episodes of Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change.