Paul Tinnirello has been an advisor and has been through the transition from a large firm to independence. Now he is coaching other transitioning advisors.
As chief operating officer at Bleakley Financial Group, a financial planning and wealth management firm in Fairfield, N.J., Tinnirello has taken on the job of coaching new and experienced advisors at his firm.
“My role sort of evolved over time because there was a need,” he says.
Bleakley was created two years ago and now has 25 advisors and $3.5 billion in assets under advisement. Bleakley provides financial services through Private Advisor Group, an investment advisor firm that uses LPL Financial’s hybrid RIA platform.
“Operating independently for advisors is different from being part of a large firm. Many advisors can use help making that transition,” says Tinnirello. Bleakley advisors were formerly with Northwestern Mutual.
Tinnirello says there are two parts to his coaching job: helping new advisors establish themselves and assisting experienced advisors with organization and growth of their books of business.
“There is a steep learning curve for new advisors. They are acquiring and then establishing an on-going relationship with clients. I help flatten that learning curve,” he says.
Tinnirello says he has added credibility with the advisors because he has been an advisor and knows the problems they are dealing with. He also has firsthand experience going through the transition process from a big company to independence.
Just as advisors have to tailor their approach to each client, Tinnirello says he approaches the coaching process differently, depending on the personality of the advisors.
“I help them learn how to take clients through the planning process. I also know what it means to be rejected by a potential client, so I can help them correct any mistakes they may have made,” he says.