May 29, 2025

Who’s in Control: The Advisor or The Firm? A Special Industry Update

29 minutes

With Jason Diamond & Louis Diamond

Overview

The ultimate survival guide for employee advisors, offering essential advice on navigating the realities of control. Learn actionable points to consider should you find yourself dealing with the impact of mergers and acquisitions, new mandates, heightened vulnerability, and more.

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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

Advisors, especially those at the big firms, often spend years at one firm, satisfied with their ability to serve clients and grow their business, without much consideration of who’s “really” in control.

Then that sense of calm is disrupted: perhaps a rumor is leaked online, or a major change at the firm is announced in the press or at the firm’s annual meeting.

Events like these typically prompt advisors to question everything about their business and often leave them frustrated and wondering about things they never considered.

That is, all the things that are actually beyond an advisor’s control.

However, there is a certain reality to this that most advisors working at the big firms don’t even consider. It’s the answer to the question: Who’s really in control: The advisor or the firm?

Independent advisors generally don’t struggle with that answer—that’s the beauty of independence. So, how then do advisors who may have no desire to become independent answer that question?

In this Industry Update, Jason Diamond is joined by Louis Diamond to share a few real-world examples to help you think through the answer to that question and more, including:

Understanding recent changes at your firm—and how to decide which may impact your business.

Mergers and acquisitions—and what you might expect if your firm is acquired by another.

The realities of private equity—and what the pros and cons are for advisors.

New mandates—and why so many advisors are conflicted about cross-selling firm products.

Plus, thoughts on vulnerability, termination, and much more.

This episode is the ultimate survival guide for advisors who are employees—with important advice on the realities of control and actionable points to consider should you find yourself dealing with a “change in control.”

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Related Resources

Your Broker Dealer Was Just Sold. What Should You Do?

Major players are acquiring independent broker dealers with increased frequency, leaving advisors caught up in these sales to wonder what the impact will be on their business. Here are four actions to take to find out.

Vulnerability & Termination: An Advisor’s Survival Guide

This guide provides practical steps to help you navigate these situations. By taking proactive measures and seeking the right guidance, you can ensure a smooth transition and continue to thrive in your career.

Monetization vs. Independence: What’s the Best Path?

Jason Diamond and Mindy Diamond provide insights and guidelines to help advisors navigate these choices with strategies to assess factors like growth, profitability, succession planning, and short- vs. long-term goals.

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By Mindy Diamond Financial Advisor Recruiter and Consultant

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