Mindy Diamond, the founder of Recruitment of Asset Management, Consulting and Executive Firm Diamond Consultants, is withdrawing from the main role while its sons undertake.
Diamond, who founded its advisory firm in 1998She will be transferred to the chairman of the board while her son Louis Diamond takes on her role of CEO. Another boy, Jason Diamond, will take over the role of Louis as president.
“Like we advise advisers to talk to them about planning success, I'm everything to eat my home cooking,” Mindy Diamond said. “This has been a well -planned, well thought out transition, well executed that my boys have trained for their entire lives, and as a business, we have probably planned for the last four to five years.”
Diamond will continue to advise the firm as chairman of the Board and contribute leading the thought in the industry, including with me Podcast Diamond for financial adviserswhich is published in Assemblyamagamant.com.
The founder, who is 62, said she is ready to go to the role of the chair, but would never have done it if it were not good for the business she calls it “third child”.
“The truth of my readiness was my sons, who share my values, which is the most important thing for me,” she said.
Louis Diamond has been with the firm for over 10 years, taking on the role of president in 2021. Howard Diamond, Mindy's husband, will remain Morristown's operating chief, a firm based in NJ.
Over the decades, union of union and diamond buyers, work has exceeded more than $ 350 billion in assets under management. The firm provides for a process of selecting the owner for councilors who consider an action, with the idea that a “wrong action can have massive consequences”.
Mindy Diamond credit Louis Diamond with bringing the process in a mainly relationship business. Former financial services adviser Ernst & Young, who headed the firm's executive search function, said he would continue to try to grow and expand the firm.
“I want our brand and our company to be synonymous with the transitions of councilors, or for any kind of talent in industry, which we are the de facto country they call,” he said.
Louis Diamond said he plans to continue growing the firm in areas adjacent to financial tips, which will include hiring more staff.
Mindy Diamond recalled that when she first started the firm, it was a process of “smile and call”. One of her first unforgettable vacations came when a counselor she had worked with for years decided to leave a wire to start his own RIA before such action was popular.
“He called me after he moved and he was almost in tears, he was so grateful,” she said. “Access led him to a place he would probably never have achieved. … That's what made me realize that if it were good for him, it would be good for others.”
She said she will start telling customers about moving on Thursday, pointing out that she will still be active in the firm.
“I'm not retired – the word worries me to be honest with you,” she said. “I'm just leaving day by day and allowing business to evolve properly.”