Convergent Wealth Advisors Wraps Up a Dynamic Year

WASHINGTON, Dec. 22, 2011 (GLOBE NEWSWIRE) -- Convergent Wealth Advisors, a nationally recognized industry leader in wealth management currently advising on over $10 billion¹ in assets, wraps up a record year in terms of new business.

"2011 was an exciting year for Convergent. On top of a very strong year of new client acquisition, Convergent was recognized by Barron's with the #1 and #3 spots on its 2011 Top 100 Independent Wealth Advisor list²," said Steve Lockshin, founder and CEO of Convergent. "Having two advisors from the same firm ranked in the top five on this list has only occurred once before and it was in 2010 by Convergent. Securing two of the top three spots is unprecedented."

In addition to growing its core ultra-high net worth business, in October, Convergent launched a new division, Independenceby Convergent. Independence, which operates as a separate business unit with its own team of dedicated advisors, is focused on clients with investment portfolios starting at $500,000.

"Independence represents an untapped opportunity for Convergent, since we believe it addresses a real need in the industry," said Douglas Wolford, president and COO of Convergent. "Being able to bring the savvy of the $100 million investor to the $1 million investor is an offering few companies can match. Independence clients get immediate access to the knowledge and experience we've acquired from working with people who are already financially independent—an unusual skill set for advisors in this segment of the market."

In addition to launching Independence, a strategic move was made earlier in the year to separate from an institutional team that joined the firm several years ago—further underscoring Convergent's commitment to serving private clients.

"Convergent has maintained its position as a leader in the high net worth, ultra high net worth, and family office communities, and plans to continue its focus in these markets," said Lockshin.

"Our many achievements this year are the culmination of our entire team's efforts," added Lockshin. "I am humbled each and every day by the hard work, dedication, and commitment of our employees. We are thrilled to end the year on such a high note and are looking forward to the opportunities sure to come in 2012."

About Convergent Wealth Advisors

Convergent Wealth Advisors is a recognized industry leader in wealth management. Convergent provides investment consulting services and customized wealth management solutions, including advice on concentrated stock strategies, alternative investments, collateralized lending, specialty financings, and insurance and estate planning, to ultra-high net worth individuals and family offices.  Convergent is headquartered outside of Washington, DC, with offices in Los Angeles, New York, and Portland (OR). 

Non-deposit investment products are not FDIC insured, are not deposits or other obligations of Convergent Wealth Advisors, are not guaranteed by Convergent Wealth Advisors and involve investment risks, including the possible loss of principal.

¹ As of November 30, 2011

² The Barron's ranking is based upon each advisor's assets under management, revenues the advisor generates for their firm, and the quality of their practices.

CONTACT: Media Contact:          Laura Smith          301.998.0304          [email protected]

Source: Convergent Wealth Advisors