Financial advisor and author
Steve Lockshin is an American financial advisor , entrepreneur and financial author that has focusing on ultra high-net-worth clients and estate planning .[ 1] [ 2]
He is a founder of a number of companies, such as Fortigent (formerly Convergent Wealth Advisors and CMS Financial Services) in 1994, Advizent in 2012[ 3] (which shut down a year later),[ 4] [ 5] and Advice Period in 2013[ 6] [ 7] (which was named "Best Wealth Planning Firm" at Family Wealth Report Awards 2019).[ 8]
He is an early investor in a number of fintech firms, such as Betterment ,[ 9] [ 10] [ 11] Quovo,[ 12] [ 13] Wealthbox,[ 14] and Advizr.[ 15] [ 16] He has appeared widely in the finance and business press,[ 17] and at conferences in the financial services and fintech industries.[ 18] [ 19] [ 20] He has served on CNBC's Digital Financial Advisor Council.[ 21]
Lockshin has criticized the financial services industry for its inherent conflicts of interest,[ 22] its over-reliance on active investing ,[ 23] its low standards,[ 24] and its excessive fees.[ 25] [ 26] (He contends that estate planning and tax planning are much more important for clients.)[ 27] [ 28] He argues that many investment advisors should not be trusted.[ 29] He is critical of broker-dealers because they are not required to act in their clients best interests, unlike a registered investment advisor who is a fiduciary .[ 30] [ 31] [ 32]
^ "How to attract UHNW clients — and charge a hefty flat fee" . Financial Planning . 2017-12-01. Retrieved 2019-08-25 .
^ "Succeeding Serving Ultra-HNW Clients With Steve Lockshin" . Nerd's Eye View | Kitces.com . 2017-03-28. Retrieved 2019-08-25 .
^ "MarketCounsel - Steve Lockshin and Charles Goldman to unveil Advizent" . Retrieved 2019-08-25 .
^ "Advizent will close its doors after a final flurry of negotiations" . RIABiz . Retrieved 2019-08-25 .
^ "What led to Advizent's end and why Steve Lockshin is unfazed, even energized" . RIABiz . Retrieved 2019-08-25 .
^ "Debriefing a post-Convergent Steve Lockshin as he once more builds a classic RIA -- or is it neo-classical?" . RIABiz . Retrieved 2019-08-25 .
^ "AdvicePeriod Again Develops Technology for Firm of the Future" . Business Insider . January 29, 2019. Retrieved 2019-08-25 .
^ "Family Wealth Report Awards 2019" . Clearview Publishing . Retrieved 2019-08-25 .
^ Sullivan, Paul (2015-06-19). "The Computer as a Financial Planner" . The New York Times . ISSN 0362-4331 . Retrieved 2019-08-25 .
^ "Fidelity and Betterment sign a deal with Steve Lockshin and Marty Bicknell as groomsmen at the altar" . RIABiz . Retrieved 2019-08-25 .
^ Britton, Diana (2018-02-05). "Steve Lockshin: A Domino Effect" . Wealth Management . Retrieved 2019-08-25 .
^ "Quovo rakes in $4.75 million from VC backers and a triumvirate of angel RIAs: Carson, Bicknell and Lockshin" . RIABiz . Retrieved 2019-08-25 .
^ "Fintech Startup Quovo Acquired by Competitor Plaid for ~$200M" . AlleyWatch . 2019-01-08. Retrieved 2019-08-25 .
^ Flowers, Bianca (September 30, 2014). "CRM startup Wealthbox earns financial backing from serial entrepreneur Steve Lockshin" . Investment News . Retrieved 2019-08-25 .
^ "Advizr gets Series A $7-million investment in bid to create software with best of eMoney, MoneyGuidePro and Mint.com rolled into one" . RIABiz . Retrieved 2019-08-25 .
^ "Steve Lockshin's view of Advizr on Kitces podcast" . Advizr . 2017-03-29. Retrieved 2019-08-25 .
^ "Protecting your portfolio" . www.cnbc.com . Retrieved 2019-08-25 .
^ "The 2013 MarketCounsel Summit is heavy on future shock" . RIABiz . Retrieved 2019-08-25 .
^ "Tech and Wealth Management: Transformative or Disruptive? - CFA Society Los Angeles" . www.cfala.org . Retrieved 2019-08-25 .
^ "The Future of Wealth Management: Taking Your Advisory Business to the Next Level - Investment Adviser Association" . www.investmentadviser.org . Retrieved 2019-08-25 .
^ "Steve Lockshin on Advisor Council" . www.cnbc.com . Retrieved 2019-08-25 .
^ "Independent Financial Advisors Should Voluntarily Raise the Bar on Standards: It's Right for Consumers and Good for Business" . finance.yahoo.com . Retrieved 2019-08-25 .
^ "Active Investments: A Lot of Hope is Dangerous" . IRIS . 2017-03-06. Retrieved 2019-08-25 .
^ "Lockshin: All advisors must deal with the threat of low industry standards -- before investors do it for them" . RIABiz . Retrieved 2019-08-25 .
^ "Top Advisor Steve Lockshin: Here's How You Do Retainer Fees" . www.barrons.com . Retrieved 2019-08-25 .
^ Savitz, Eric. "Financial Advisors Who Protest Too Much Are Probably Overcharging Clients" . Forbes . Retrieved 2019-08-25 .
^ Faber, Meb (2018-08-15). "Episode #117: Steve Lockshin, "We Think the Estate and Tax Planning Levers are the Most Important Levers to Push on for Clients" " . Meb Faber Research - Stock Market and Investing Blog . Retrieved 2019-08-25 .
^ Lockshin, Steve (August 2019). "The Seven Deadly Sins of Estate Planning" . Wealth Management . Retrieved August 24, 2019 .
^ "Wednesday Welcome: Finding an Investment Advisor You Can Trust" . Jean Chatzky - Making money make sense . 2013-10-02. Retrieved 2019-08-25 .
^ whatheheckaboom (2015-11-01). "Book Review of Get Wise to Your Advisor by Steven D. Lockshin" . Journeys of a Bumbling Trader . Retrieved 2019-08-25 .
^ "Steve Lockshin: Fiduciary is the Future" . www.barrons.com . Retrieved 2019-08-25 .
^ "Questions You Should Ask A Financial Advisor" . Betterment . 2013-10-21. Retrieved 2019-08-25 .