Founded in 1994, Convergent's story began with a group of passionate, committed professionals managing the assets of one family.  And though today we're an industry leader with approximately $10 billion in assets under advisement (as of 10/31/2011), we still maintain our original focus — providing our clients with objective, holistic wealth management services.

From new technologies to early use of alternative investments, we've always been ahead of the curve. While open architecture investing is now standard practice among wealth advisers, we pioneered this approach more than fifteen years ago.  We also were among the first to provide consolidated performance reporting, keeping our clients in the loop without tying up their valuable time. During the boom of the 1990s, we saw the increase in concentrated wealth and responded accordingly, addressing diversification, risk, and tax implications.

As we focused on a philosophy of diversification and objective, open architecture investing, our client base grew. Strategic acquisitions throughout the years have strengthened our research capabilities and our “human capital.”  Yet even as we have evolved, our foundation has remained constant: providing clients with exceptional service, objectivity, innovation, and smart thinking.
 

• Approximately $10 billion in assets under advisement as of 10/31/2011
• Pioneer in research-led open architecture
• Independently operated affiliate of City National Bank (NYSE:CYN)
• Senior management maintains a significant ownership position in the company
• Headquartered in Washington, DC with offices in Los Angeles, New York, and Portland (OR)
• 91 employees
   

Independent, objective investment advisor

• Open architecture platform provides access to full universe of managers
• Transparent fees, no brokerage products, no hidden agendas

Robust, proprietary research capabilities

• Dedicated 15-person research team
• Extensive experience in modeling traditional and alternative investments
• Strong industry relationships provide exclusive access to unique managers

Institutional strength with boutique flexibility

• Manager fees often reduced by leveraging firm’s size
• Affiliation with City National Corporation (NYSE:CYN) provides additional financial resources and stability
• Able to treat each client uniquely and react swiftly to changing market conditions

Holistic wealth management

• Customized asset allocation based on client’s risk tolerance and return objectives
• Expertise in estate, tax, and philanthropic planning
• Consolidated performance reporting on all investment assets, even those on which we are not advising
   

2011

• Steve Lockshin ranked #1 on Barron's Top 100 Independent Financial Advisors; Dave Zier also ranked #3
• Convergent recognized by the National Association of Board Certified Advisory Practices as one of Washington's Premier Wealth Advisors
• Convergent ranked #2 by AdvisorOne in its annual survey of the country's Top Wealth Managers
• Two advisors ranked on Barron's Top 100 Financial Advisors
• Advisors earned the #1 Maryland and #3 spot in California in Barron's state-by-state list of the Top 1,000 Financial Advisors
• Convergent ranked #7 in Registered Rep's Top 100 Registered Investment Advisors
• Ranked in the top 5 in Financial Advisor Magazine's list of Top Registered Investment Advisors

2010

• Two advisors ranked in the top five on Barron's Top 100 Independent Advisors,
• Convergent’s CEO, Steve Lockshin, ranked #5 and Dave Zier ranked #8 in the nation on Barron's 2010 Top 100 Financial Advisors list
• Firm assets under advisement now exceed $13 billion

2009

• Steve Lockshin ranked #2 on Barron's Top 100 Independent Financial Advisors list
• Steve Lockshin ranked #19 on Barron's list of Top Financial Advisors in the United States
• Convergent ranked #15 by Wealth Manager in its annual survey of the country's Top Wealth Managers
• Convergent ranked #9 in Registered Rep's Top 100 Registered Investment Advisors

2008

• Firm assets under advisement now exceed $10 billion

2007

• Lydian Wealth Management re-capitalizes, increasing management's stake in the corporation and re-brands itself as Convergent Wealth Advisors
• Firm assets under advisement now exceed $8 billion
• Los Angeles office is opened in order to better serve our company’s growing national client base

2006

• Fortigent is spun out as a stand-alone entity to segment the company’s business strategy, improve brand development, and enhance the overall client experience

2005

• Announces the organization of Fortigent (formerly Lydian Advisor Solutions) as a leading Turn Key Asset Management Program (TAMP) provider to banks, trust companies, and independent investment advisors
• New York City regional office is opened
• Assets under advisement reach approximately $6.5 billion

2004

• The Windermere acquisition brings a particular expertise in researching, constructing, and implementing creative alternative strategies, including private equity and real estate

2003

• CMS moves its headquarters to new offices in Washington, DC to coincide with a name change to Lydian Wealth Management; the firm continues to operate as an independent subsidiary
• Assets under advisement exceed $4 billion

2002

• Seattle regional office is opened
• Target client size is raised to $10 million and the firm establishes itself as a recognized competitor in the ultra-high net worth marketplace
• Retains 100% of its clients in a bear market, and assets under advisement top $3 billion

2001

• While still retaining its autonomy and independence, CMS sells a majority interest to 1st Virtual Holdings (now Lydian Trust Company) to capitalize on the resources and technological capabilities of the parent company

2000

• Assets under advisement reach approximately $1.5 billion

1999

• Less than a decade since the firm began with one client, total assets under management now exceed $1 billion

1998

• The company becomes an early adopter of Monte Carlo simulation analysis to quantify clients' required risk and return parameters to meet lifestyle and estate planning needs
• Pursuing opportunities created by changes in tax law, the firm becomes one of the largest objective intermediaries in equity risk management, helping dozens of clients protect and monetize billions of dollars in concentrated equity positions  

1997

• Absolute return and hedged equity strategies are employed, providing new avenues for diversification and non-correlation within client portfolios
• The inclusion of these strategies largely insulates client portfolios from the potentially traumatic performance effects of the subsequent bursting of the technology and telecommunication bubbles

1996

• The company continues to be an early adopter of new technologies, with its consolidated performance reporting solution standing out as an industry leader

1995

• Opening its doors to other families in 1995, the firm is again a market leader in an industry trend — the creation of a “Multi-Family Office”

1994

• CEO Steve Lockshin and a handful of professionals incorporate as CMS to formalize the investment consulting services they had been providing a single high net worth family