"The financial services

industry moves like

a glacier. It's

fun to be part of this revolution."


Larry Miles

Larry Miles39

Principal, AdvicePeriod

Fast Facts

  • Authors a blog with 4,000 subscribers.
  • Volunteers to assist inner-city youth.
  • Has returned to his alma mater, Amherst College, to recruit potential wealth management professionals.

Larry Miles' company is his passion. He and his partners started AdvicePeriod from scratch three years ago. The self-imposed challenge: How to create a financial advisory service that offers something that all the other Los Angeles advisory firms don't. "We started with a blank sheet of paper," Mr. Miles said. "It was really freeing for us."

His first observation: The extent to which technology has changed the business. His decision: Focus more on financial planning than investing. "Paying active-management fees is a losing business," Mr. Miles said. "People won't pay 1% of assets for asset allocation and bad performance."

AdvicePeriod — which has been voted the number one best place to work in Los Angeles twice — is Mr. Miles' first foray into entrepreneurship. He began his career with Convergent Wealth Advisors in Washington, D.C. As a partner there, he was instrumental in building the business to over $12 billion in assets. After Convergent's sale to City National Bank in 2007, Mr. Miles opened the firm's Los Angeles office and later went on to co-found AdvicePeriod.

Starting and growing a business leaves little time for much else in Mr. Miles' life these days. "Hiring people and training them takes up a good portion of my hobbies," he said. "But the financial services industry moves like a glacier. It's fun to be part of this revolution."

– John Waggoner


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