Sunday, March 26, 2023

Mindy Diamond: Two $10M Groups Depart Wirehouses in One Week

In two consecutive weeks of February this 12 months, Diamond Consultants facilitated the strikes of two extraordinary Merrill groups—superstars producing over $10 million every.

Why is that this so related that we opted to debate it on the podcast?

As a result of it’s uncommon for any group at that manufacturing stage to make a transfer—not to mention from the identical agency AND inside every week of one another. 

As we’ve shared many occasions, and illustrated most just lately in our Transition Report, advisor motion has modified over current years—with loads of elements driving that motion.

However there are vital and sometimes distinctive motivations that drive a person advisor or group to think about change.

Having served as guides by the due diligence and transition course of for these groups, Mindy Diamond and Louis Diamond share a novel evaluation of every of those strikes, together with:

  • The principle drivers for the strikes—pulls vs pushes.
  • The place they moved to—and why.
  • Nearly the entire companions on each groups had been lifers with Merrill—why that is vital.
  • Each groups had been in main development mode—why they’d disrupt momentum.
  • Their due diligence processes—the extent in time and element.
  • And extra.

It’s an episode that presents two distinctive case research, with factors of view on huge group motion from two people who find themselves uniquely positioned to offer a behind-the-scenes perspective.

Obtain a transcript of this episode…

Hearken to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Contemplating Change

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