Advisors usually assume that staying at a wirehouse means entry to the most effective merchandise, the strongest model, and essentially the most “unique” alternatives. However what occurs if you uncover that “unique” can imply one thing very completely different – and much more highly effective – exterior the partitions of an enormous agency?
That’s the story of Neil Rubinsteinan 18-year Merrill veteran who made the transfer to Rockefeller International Household Workplace in 2019.
It was a choice pushed by the belief that issues have been altering at Merrill. As Neil describes it, he and his group have been spending extra time checking mortgages and bank cards than they have been managing their purchasers’ wealth potential.
Diamond Consultants had the privilege of serving to information Neil on his journey to establish what could possibly be “higher sufficient” to tackle the trouble of shifting a follow managing $600mm in property. And whereas independence was intriguing, Rockefeller checked off many extra containers than Neil may have imagined.
Since then, Neil’s follow has greater than doubled in each income and property beneath administration.
On this episode with host Mindy Diamond, Neil affords a perspective on life after Merrill, together with:
-
What modified at Merrill to immediate Neil to discover—and what choices they thought-about within the course of.
-
The choice to not go impartial—and why they as an alternative opted for a agency that allowed them to be “impartial sufficient.”
-
The choice to hitch Rockefeller—and the way the agency’s title and worth proposition create a strong reference to purchasers and prospects.
-
The worth of Rockefeller’s platform—and the way being “purpose-built” for top and ultra-high web price purchasers has unlocked avenues of development Neil hadn’t imagined.
-
The notion of what’s thought-about “unique” at a wirehouse—and the way that definition shifted at Rockefeller.
-
Greater than 2X development—and why Neil believes he’s in a greater place than ever earlier than to proceed that trajectory.
For advisors contemplating their subsequent chapter, this can be a grounded take a look at entry, alignment, and development instructed by somebody who’s lived on either side—with a candid take a look at the heralded Rockefeller model.
Obtain a transcript of this episode…
Hearken to extra episodes of The Diamond Podcast for Monetary Advisors: Insights on Transitions, Independence and Advisor Progress
