The Legends of WealthTech with Len Reinhart and Jim Seuffert

Pioneers in financial technology have reshaped the industry with their visionary ideas and relentless dedication. Among these legends of wealthtech, Len Reinhart, President of Reinhart Consulting Group, and Jim Seuffert, Former Chairman of the Board of Envestnet Institute on Campus, stand tall. They revolutionized fee-based investment management. Len and Jim embarked on a mission that changed how wealth management was perceived.

In this episode, Jack talks with Len and Jim, who were co-founders of Lockwood Advisors. Lockwood was the first investment advisory firm to provide a turnkey investment consulting platform to independent broker-dealers, consultants, investment advisors, and financial planners. Len and Jim were early-stage developers and promoters of this newfangled way of doing business called “managed accounts or managed money”, now called “advisory”. They were among the first folks who came up with the idea of charging an advisory fee rather than a commission. In 2003, Len and Jim joined forces with Pershing to form one of the industry’s largest providers of managed account solutions to financial organizations and registered investment advisors for a discussion.

As legends of wealthtech, Len and Jim talk about how they developed and promoted fee-based investment management from the ground up. They also share their thoughts on the future of managed money, their advice for future leaders in the industry, and the work they are most proud of.