Skip navigation

The Diamond Podcast for Financial Advisors: A Guide to Surviving and Thriving in a Hyper-Compliant Environment

Mindy and Louis Diamond share the warning signs all advisors should pay attention to and proactive steps an advisor can take to protect themselves.

It’s something no advisor wants to hear: You are vulnerable.

Whether you’re a star performer with direct access to the top or someone who runs a comfortable lifestyle practice, the reality is if you are an employee of a firm, you are subject to a higher level of risk and compliance scrutiny than ever before.

Certainly, you might be saying, “That’s just a scare tactic. I have nothing to fear.”

Yet, the reality is that any advisor who works for a big firm is subject to a heavy-handed compliance environment designed to ensure that ALL advisors operate under a single code of conduct. And while that culture may work for some, it doesn’t work for most.

Even those who operate with legitimate exceptions, or others who say, “I’ve been doing that for years,” are now finding themselves in a place they don’t want to be.

So the goal of this episode is to identify the traps before they become a bigger issue—like administrative leave, heightened supervision, or termination.

Mindy Diamond and Louis Diamond answer these critical questions—and more:

  • What does it mean to be “vulnerable”?
  • Why has this become a growing issue over recent years?
  • Why does this impact employee advisors more than those who are not bound to their firm by a W-2?
  • If an advisor has a spotless record and runs a growing practice, should they still be concerned?
  • What about larger teams that operate with exceptions, are they at risk?
  • What are some warning signs all advisors should pay attention to?
  • What are proactive steps an advisor can take?
  • What happens if an advisor is terminated?
  • And ultimately, how do you survive in an environment that seems designed to catch you in the act?

It’s likely one of the most important conversations we’ve had to date, so be sure to listen in.

Download a transcript of this episode…

Listen to the podcast

Listen to more episodes of The Diamond Podcast for Financial Advisors: Insights on Transitions, Independence and Advisor Growth

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.