Funded by LPL Financial
Welcome to Advisor Innovations, the latest podcast from WealthManagement.com.
That first episode was David Armstrong, editor-in-chief of WealthManagement.comspeaks to Mindy Diamond, a longtime columnist for the publication and its predecessor titles, the CEO of Diamond Consulting, and one of the country’s leading financial advisor consulting and recruiting firms.
Mindy and David discuss the general trends of why consultants work where they work, how the business models that consultant-partners are engaging in are changing, the truth behind the so-called “breakaway broker” trend, and why the line between brokers / Dealer channel and the RIA channel is getting fuzzier by the day.
In this episode you will learn:
- Why and how did Mindy found Diamond Consulting?
- As she saw how the industry has changed over the past 20 years.
- The new firms that really have the traditional wirehouses are worried.
- How the evolving platforms in brokerage are blurring the lines between the independent broker / dealer channel and the pure RIA channel.
- The push-pull dynamic that influences consultants’ decisions when moving to a new business.
- The rise of professional medium and multi-affiliate business models that range between full-time and totally independent.
- Why money should never be the main reason to step (but it’s not unimportant).