Louis Diamond Quoted
By Janice Kirkel
The deal that sent a chunk of Carson Wealth Management’s assets to Cetera Financial Group from LPL Financial elicited the disclosure of forgivable loans, a stigmatized practice at best.
Ron Carson, CEO of Carson Wealth, makes a strong statement in response to a reporter’s query of the mention of “forgivable loans” in the ADV filed on Jan. 25 by his firm.
“Cetera likely cut individual checks to the individual advisors … Ron himself did not take compensation,” says Louis Diamond, vice president of Diamond Consultants, a financial services search and consulting firm in Morristown, N.J. “The individual reps are not part of Carson Wealth Management Group. It is just a service provider to independent businesses.”