The six traits that separate successful independents from wirehouse denizens
Mindy Diamond's advice on how to see the realistic reflection in the mirror.
The only items I would add to Mindy’s good lists are:
Traits of a successful breakaway:
Desire to build your own unique investment advisory solution that is more sophisticated and current than the larger wirehouses will allow.
15 year+ business time horizon (not ready to retire)
Who should stay at a wirehouse:
Advisor who generates more than 40% of their revenues from syndicate, derivatives and brokerage
Advisor looking to retire in 9 years who plans to sell their business one last time and use the proceeds to fund their retirement
Top Executive: Mindy Diamond