Advisor Steven Frith’s Tools of the Trade

Steven Frith leverages LPL’s innovative tech tools to fuel his company’s growth 

Stuck in a stalled motorboat on Folsom Lake, California, Steven Frith and a friend were talking about their careers. At this point, 28-year-old Steven wasn’t finding much satisfaction in his public relations career. His friend, a financial advisor, noted that a career in wealth management could be more rewarding.

“He mentioned how you talk to people and help them. He thought it would be a good fit for me, and said that his former mentor was actually looking for a new assistant,” Steven said.

As his boat was being towed to shore, Steven mulled over his friend’s suggestion – enough so that he discussed it with his wife that night. “Upon further reflection, we decided that it would be worthwhile for me to pursue it,” he said.

A career was born.

Positive first impressions

Steven became an assistant for a financial advisor and took quickly to the financial services industry, with his mentor playing a key role in his professional growth. “She was fantastic. She taught me everything in the business and I really enjoyed working for her, eventually becoming an advisor myself,” he said.

Steven’s mentor had recently transitioned to LPL Financial after an unsuccessful run with another broker-dealer.

“My initial impression of LPL was that it was a solid company,” Steve says. “I had enough experience with other corporations to see that they cared about advancing a technology. And they were further ahead in tech than previous companies I had worked for as well as the larger credit union I currently work for, at that time.” he said.

Tech support that delivers a better experience

Steven appreciates that LPL leverages financial technology to help advisors deliver a differentiated experience for their clients. That differentiation became more pronounced during the COVID-19 pandemic, when much of Steve’s business transitioned to remote work. “We were doing a lot more video conferencing, not to mention trades and transactions were still coming in. LPL made it very easy for us to be able to carry on and conduct our business,” he said.

When it comes to tech tools, Steven relies heavily on LPL’s solutions to help him grow his business. “ClientWorks is the first thing that I turn on each morning. I couldn’t do business without it. Whether it’s pulling up accounts, making trades, or responding to notifications, there’s everything I need in one place,” he said. 

With a significant part of Steve’s attention focused on advisory work, he appreciates the tools in the Advisory Network for both trades as well as overall client strategizing — which inevitably leads to prospecting new leads. For that, he reaches for the Proposal Tool. “It’s great for any client, especially engineers and others who are data-driven.

It’s really helpful to be able to put together a detailed proposal and let them see the fine details of what we can do,” he said.

Advisor Sleeve and the Model Wealth Portfolios (MWP) platform also play pivotal roles in Steve’s business, especially with helping him achieve efficiencies. LPL even has a solution to help him rebalance portfolios, and save time.

Owing to Steven’s deep investment in tech, LPL has connected with him to participate in several beta programs over the past several years. “There was MWP and Advisor Sleeve, and more recently Flexible Investment Objectives. I’m really dipping my toe in that one, helping LPL fine tune it,” he said. 

A balanced approach

Steven applies LPL’s tech tools when creating client portfolios so he can balance risks and align with priorities. “There’s a definite process for me in terms of how we allocate money. That involves finding out their goals and what they’re looking to do with that money down the road. That’s how I come up with allocations,” he said. 

Equally as important to Steven is regularly connecting with clients. These ongoing conversations help him fine tune plans that are fluid and dynamic. “Ultimately, I try to help them understand what’s happening, and not to make decisions based out of fear. We want to really stick to our long-term plans, and that’s where ongoing communication really helps,” he said.

Advice for advisors 

Just as his mentor instilled in him the foundation for building a successful career, Steven wants to pay it forward when connecting with new advisors. “Really focus on just doing what’s right. Have conviction in what you do and understand that if you focus on your client, it’s all going to work out. You’re going to learn valuable things for yourself, too,” he said. 

The views and opinions expressed by the LPL Financial Advisor may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

Golden 1 Investment Services and LPL Financial are separate entities