$200M Stifel Advisor Breaks Away to Launch RIA$200M Stifel Advisor Breaks Away to Launch RIA

Financial advisor Lock Bingham has left Stifel Financial to launch his own registered investment advisor. He recently created Bingham Private Wealth, an RIA in San Francisco with about $200 million in client assets.

Bingham spent the last 10 years at Stifel, most recently as a senior vice president. Prior to that, he was with Sterne Agee. Lead Client Service Associate Ali Bradshaw and Senior Client Service Associate Walter Santander join him. The firm specializes in multi-generational families and charitable giving strategies.

Bingham said he decided to strike out on his own to improve interactions with clients.

“With full independence, I really have the ability to shape the client experience as is best for my clients and for how we are managing assets and how we are doing financial planning that’s unique to what we do,” he said.

He also liked the option to be multi-custodial. The RIA currently uses Charles Schwab and CNB Custody, a division of Community National Bank, for alternative assets. The firm also uses Morningstar and Black Diamond as tech vendors.

“We can adjust as necessary for anything the client needs,” he said.