Diamond launches next consultant biz to focus on next gen and diversity
Wealth management veteran Carina Diamond has launched Stella Secunda, a firm providing consultative strategies to help financial services firms embrace next-generation business opportunities.
Diamond, who most recently served as chief growth officer at Dakota Wealth Management, knows what’s missing in the wealth management space: mentoring and nurturing diverse young talent.
“Next-gen talent will be the future of our profession,” Diamond told Crain Currency.
While working as a founding board member with the University of Akron’s Diversitas program, whose mission is to expand diversity in wealth management, she saw firsthand the impact that bringing underrepresented people to the table would have on the industry at large.
“After several decades of leadership and client adviser roles, I saw a higher purpose in what I could bring to the profession. It became very clear to me that my success in identifying, mentoring and growing young talent was not a common skill in the field," she said. "While the industry at large struggles to find appropriate candidates for a wide variety of well-paying and engaging jobs, we collectively haven’t always engaged younger professionals."
Stella Secunda plans to develop nascent talent to support succession planning while also guiding owners through transitions in the natural life cycle of their businesses. The company serves an array of financial services clients, including fintech and insurance companies, advisory firms, broker-dealers, banks and accounting firms with wealth management divisions.
“Without properly integrating, training and nurturing them [next gen], our ranks will continue to dwindle.," Diamond said. "Age is actually a form of diversity. We need people of all ages to advise clients and provide different perspectives so we reach better outcomes. I’d like to suggest that everyone take on the responsibility to mentor at least one younger person. The world will become a better place for everyone.
"It really is a moral imperative.”