AdvicePeriod’s Pitch for Wealth Managers

Note from the Publisher:  The battle of the traditional RIA vs. the Robos isn’t quite over yet.  There’s a new MODEL in town – this time coming from AdvicePeriod, under the direction of Steve Lockshin, a star wealth manager and early investor in other fintechs including robo Betterment, Quovo and Advizr.  AdvicePeriod incorporates an automated back office and some features of an Introducing Broker/Dealer, but in fact according to their website, the’re far more than that. “We deliver a comprehensive solution that enriches all aspects of your practice — from brand consulting and business development to technology tools and operational resources.” 

“Here’s a tempting pitch to advisers: a 70/30 payout and 100% ownership of clients.

That’s the premise of a brand new platform, backed by a growth-minded RIA and one of the advisory business’ biggest names.

The latest offering in a fiercely competitive marketplace comes from AdvicePeriod, a two-year old advisory firm specializing in high- and ultra-high-net worth clients co-founded by Steve Lockshin that has been quietly expanding for the past several months, adding partners and opening new offices around the country.

AdvicePeriod has just added its tenth partner, luring Todd Butler from Wescap Group, a Glendale, California RIA; last month Silicon Valley-based Katharine Simmonds, formerly with Stanford Investment Group, opted to join AdvicePeriod instead of going over to Aspiriant, which is set to close its purchase of Stanford Investment.”

Source:  Financial-planning