June 29, 2020
Louis Diamond Quoted
By Asia Martin
With his firm’s two-year anniversary coming up in July, Bruce K. Lee, head advisor and founder of Keebeck Wealth Management in Chicago, is celebrating the addition of a Columbus, Ohio branch and two new advisors focused on professional athletes.
His athlete clients ask him to review endorsement offerings and business proposals which come to athletes because of their name recognition and popularity. Some can be more opportunistic than realistic on the part of those making the offer; not all are financially sound.
Those requests can put wirehouse advisors in a tricky spot. “Do they let the client figure it out on his [or her] own and potentially make a bad decision, or color outside the lines and loosely advise on that business, running the risk of violating compliance rules?” says Louis Diamond, executive vice president and senior consultant of advisor recruiting firm Diamond Consulting.
