Client Portability and Moving Clients Ethically

About this episode…

Advisors often assume that staying at a wirehouse means access to the best products, the strongest brand, and the most “exclusive” opportunities. But what happens when you discover that “exclusive” can mean something very different – and far more powerful – outside the walls of a big firm?

That’s the story of Neil Rubinstein, an 18-year Merrill veteran who made the move to Rockefeller Global Family Office in 2019.

It was a decision driven by the realization that things were changing at Merrill. As Neil describes it, he and his team were spending more time checking mortgages and credit cards than they were managing their clients’ wealth potential.

Diamond Consultants had the privilege of helping guide Neil on his journey to identify what could be “better enough” to take on the hassle of moving a practice managing $600mm in assets. And while independence was intriguing, Rockefeller checked off many more boxes than Neil could have imagined.

Since then, Neil’s practice has more than doubled in both revenue and assets under management.

In this episode with host Mindy Diamond, Neil offers a perspective on life after Merrill, including:

• What changed at Merrill to prompt Neil to explore—and what options they considered in the process.
• The decision not to go independent—and why they instead opted for a firm that allowed them to be “independent enough.”
• The decision to join Rockefeller—and how the firm’s name and value proposition create a powerful connection with clients and prospects.
• The value of Rockefeller’s platform—and how being “purpose-built” for high and ultra-high net worth clients has unlocked avenues of growth Neil hadn’t imagined.
• The perception of what’s considered “exclusive” at a wirehouse—and how that definition shifted at Rockefeller.
• More than 2X growth—and why Neil believes he’s in abetter position than ever before to continue that trajectory.

For advisors considering their next chapter, this is a grounded look at access, alignment, and growth told by someone who’s lived on both sides—with a candid look at the heralded Rockefeller brand.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.