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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

Should FAs Be Tested for Cognitive Decline?

Posted by Louis Diamond

August 8, 2022
Louis Diamond Quoted
by Sam Del Rowe

Financial advisors have several ways of dealing with clients who may be behaving erratically, including freezing their accounts. But what’s the course of action when it’s the advisor exhibiting cognitive decline?

The risk of cognitive decline is “a good proof point” for teaming, according to Louis Diamond, president at recruiting firm Diamond Consultants.

“If they’re around people who can either pick up the slack or at least have a lens into how someone acts on a day-to-day basis, that’s a good watchdog item,” Diamond said, adding that there’s more of a risk for advisors who operate alone. “No one wants the client to be disserviced and if someone’s performance starts to slip, then it’s in everyone’s best interest for them to speak up.”

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About Louis Diamond

President – Someone who “looks at every angle from a strategic perspective.” Sophisticated advisors and business owners alike learn quickly that they’ve found the right person in Louis when seeking counsel and clarity on growth, career management and the ever-changing industry landscape. Learn more...

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