Wealthcare Capital Management, a provider of wealth management advisory services and systems, announced that Leonard (Len) Reinhart will join the firm’s board of directors. Reinhart is the former president and founder of the Lockwood family of companies and regraded as a pioneer in the separately managed account business.
Reinhart co-founded Lockwood in 1995 and it was acquired by Bank of New York Mellon in 2002. Prior to founding Lockwood, Reinhart was President of the Consulting Group at Smith Barneym which under his leadership gathered more than $70 billion in assets under management and served over 200,000 clients.
Wealthcare is a DBA of Financeware, a wealth management system for financial advisors. Financware made news in August after suing brokerage giant UBS for patent infringement stemming from UBS’s use of rival MoneyGuide Pro.
“The Wealthcare process is the right approach for building wealth and bringing Wall Street back to Main Street,” Reinhart says in a news release. “As baby boomers retire and the marketplace continues to lack stability, our industry needs leaders with vision, paired with versatile client centric processes. By understanding the needs of each client, the Wealthcare process is creating a new standard for our industry."