In today’s episode of Framework, Jamie talks with Steve Lockshin, the founder and principal at AdvicePeriod.

After realizing he did not want to be a doctor, Steve sort of fell into financial services after interning with someone who helped him navigate the industry early on. While in the insurance business, he had a client ask him to help with their financial portfolio — an encounter that eventually led to the founding of AdvicePeriod.

Steve talks with Jamie about how he ended up in the financial industry and his business ventures along the way. He also shares his critiques of the industry and the future of digital frameworks for financial services.

“I really think as an industry, they still put themselves ahead of consumers, some knowingly, many unknowingly. And I just think it’s a travesty because our industry is not doing what it could to help people retire. ~ @openadvisor

Main Takeaways

  • FinTech and Fiduciary services are the future of the industry and are set to cause large disruptions to financial planning services.
  • Transparency and simplicity are necessary to transform the fiduciary industry so that consumers have more information about who manages their money.
  • Estate planning is an industry that needs innovation and review. Oftentimes, it’s not carried out as well as it could be.
  • Consumers should be able to own their own data no matter who generated it. The future could be tokenized data built on blockchain, ultimately owned by the consumer.

Links and Important Mentions

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