Ep 013: Succeeding As A Serial Financial Advisor Entrepreneur Serving Ultra-HNW Clients With Steve Lockshin
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 28 March 2017
⏱️ 78 minutes
🧾️ Download transcript
Summary
As a serial entrepreneur, Steve Lockshin has founded several businesses in the advisory industry. Listen to this week’s episode to learn how he got started as a financial advisor without any experience in the field and how he created and sold a software company without a background in programming.
Steve shares his journey from insurance into financial advising and how he got started. You’ll hear the lessons he’s learned from selling companies, his entrepreneurial successes (and failures), and growing his revenue 100% every year.
Get the full show notes and transcript for this episode at: https://www.kitces.com/13
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.6 | navigated the inevitable challenges that arise on the path to success and get insight from leading |
| 0:19.2 | industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:29.1 | Welcome to the 13th episode of the Financial Advisor Success Podcast. My guest on today's |
| 0:34.2 | podcast is Steve Lockshin. Steve is the co-founder of advice period and advisory firm based in the Los Angeles area |
| 0:40.0 | that serves ultra-high net worth clients, the kind of folks that have tens of millions |
| 0:44.1 | of dollars and more. |
| 0:45.4 | So if you've ever wondered what it is than advisor does to justify a $100,000 plus annual |
| 0:51.5 | retainer fee from the super wealthy, you're going to love this podcast episode. |
| 0:55.9 | But the fascinating thing about Steve is not simply a success in building what actually |
| 1:00.5 | has been more than one advisory firm serving ultra high net worth clientele over the years. |
| 1:05.3 | But the fact that he's a serial entrepreneur who's also founded several businesses in the |
| 1:09.5 | advisory industry as well, and |
| 1:11.0 | including some very successful ones like Fortigent, which was ultimately bought by OPL, |
| 1:15.6 | as well as some that have failed, because that's the reality of entrepreneurship. |
| 1:19.3 | They don't all work out. |
| 1:20.7 | The binding theme to all of it, though, is Steve's insatiable curiosity as a lifelong learner, |
| 1:25.8 | which got him with the point of advising the wealthy on |
| 1:28.5 | advanced estate playing strategies, despite not having them any background as an attorney or a CPA, |
| 1:33.9 | and being the co-founder of a successful technology firm, despite having no background as a software |
... |
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