David Zier – A Tragic Loss to the RIA Industry

David Zier was the president and CEO of Potomac-based Convergent Wealth Advisors RIA firm in Maryland and an expert financial adviser. His death in 2014 marked a profound loss for the industry.

In December 2016, the Commodity Futures Trading Commission (CFTC) fined Convergent $800,000. According to CFTC allegations, Zier fraudulently solicited clients into investing with his ZAM LLC fund outside Convergent.

Early Life and Education

Early childhood is an extremely critical phase in brain development and thus it is vitally important that young children receive various learning experiences that will promote their overall growth and wellbeing.

The first eight years are crucial in terms of identity formation; during this period children establish relationships and form beliefs about themselves.

Research indicates that nutrition, human interaction and education children receive during these formative years can have a tremendous effect on their mental wellbeing later in life. That is why choosing a child care center that emphasizes play- and activity-based learning will ensure your child grows into a healthy adult.

Achievement and Honors

Potamac, Maryland-based conglomerate has witnessed its share of upheaval recently; former CEO and “sexiest man in the biz” Steve Lockshin recently left after 18 years to pursue family. Additionally, this equities and alternative investments company boasts some outstanding employees including some exceptional people managers such as Financial Services Group’s independent survey revealed 75% retention rates among its financial planners while custodians average 65%.

Personal Life

Zier was known for his large-than-life personality but was nonetheless very kind-hearted and loved spending time with his family.

He was also an excellent friend and business associate to many. With an outstanding work ethic and professional demeanor, he left a great legacy behind him.

Convergent Wealth Advisors had long been his pride and joy. It embodied its core values of honesty and integrity that were dear to him.

Net Worth

David Zier was one of the youngest members of Generation Z but nonetheless managed to amass an impressive net worth through hard work, becoming an accomplished and successful businessperson, top wealth advisor, and family man.

As a result of his achievements, Barron’s listed him among the top five investment advisors nationwide. However, due to this distinction he was terminated from City National Securities and began being investigated by SEC and FINRA for potential violations.

Zier is accused of deceiving clients about the profitability of a private fund he managed and ultimately committed suicide to protect those financially affected by his actions.