Louis Diamond Quoted
By Asia Martin
Bleakley Financial, a firm affiliated with Private Advisor Group, an office of supervisory jurisdiction of LPL Financial, announced it had added an advisor with $170 million in client assets from Northwestern Mutual. The advisor, Lyle Weintraub, joined last week as the coronavirus continued to wreak havoc on the markets.
“When you’re looking at how this transition happens, it takes a lot of people. You have transition teams, project managers, technology teams, sometimes lenders, consultants in many cases. You have teams of advisors, and then you have advisors who have to meet with clients to explain why they’re making the change,” said Louis Diamond, the executive vice president of Diamond Consultants.
“It’s a ton of work to transition a business, but if you throw into one of the most craziest times for advisors, I think it just accelerates the amount of work that’s needed,” he said.
