The Diamond Podcast for Financial Advisors

The Annual Report on Recruiting, Deals, and Transitions

Mar 26, 2026
A fast look at why advisor movement surged in 2025 and which firms gained or lost in the recruiting race. Discussion of big-team departures, rising deal multiples, and evolving payout structures. Exploration of hybrid affiliation models, next-gen talent shortages, and major market shocks from acquisitions and breakaway transitions. A quick take on how AI and capital markets may reshape advisor choices next year.
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ADVICE

Hire Juniors With Carved Out Revenue To Build Next Gen

  • Recruit and develop quality next‑gen talent by funding junior roles with carved-out revenue or salaries to survive lean early years.
  • Jason Diamond suggests supplementing juniors from B/C/D client revenues to free capacity and create durable succession pipelines.
INSIGHT

Mega RIAs Will Train Next Gen Advisors

  • Mega‑cap RIAs are becoming training grounds for next‑gen advisors due to lead flow, investment platforms, and scale to run apprenticeship programs.
  • Louis Diamond notes increasing demand for experienced advisors without books across firms' executive searches.
INSIGHT

Choice Through Multiple Affiliation Wins Talent

  • Firms offering multiple affiliation options (W2, 1099, RIA) win recruiting and retention by giving advisors an in‑built put option for future independence.
  • Louis Diamond cites LPL, Raymond James, and Wells Fargo as beneficiaries of this multi‑channel approach.
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