Steven L. Klosterman - Financial Advisors

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Steven L. Klosterman

Why I Love My Job

I respect our leadership, management, and my colleagues, and we are always striving to be better. I love my career because of the clients. My clients are all genuinely good people with a sense of balance ad perspective about their lives – including their hard work and their luck! Also, I love the intellectual stimulation I get from interacting with my clients, their CPA’s and estate planning attorneys, and with money managers, especially the international equity managers.

Steve has been a Regional Director with Halbert Hargrove in San Diego since 2003. He serves as a fee only fiduciary advisor to a wide range of individual clients, including a family office and their two foundations, as well as entrepreneurs and executives.

Steve also has significant institutional experience. Steve is on the Board of San Diego Foundation and completed a term as Chair on June 30, 2023. Steve is Past Chair and a current member of SDF’s Investment Committee that is responsible for the management of an approximately $1.6 billion in AUM. Steve is on the Investment Committee for the American Lung Association as well. He was a founding Board member of the UCLA Investment Company that oversees the investment of UCLA’s approximately $4 billion endowment and served a ten-year term through June 30, 2022.

An Academic All-American and Honorable Mention All-American football player at UCLA, Steve graduated with honors in 1974. He earned an MBA from Stanford University in 1977, and the ACCREDITED INVESTMENT FIDUCIARY ™ (AIF) from the University of Pittsburgh-affiliated Center for Fiduciary Studies.

Fun Fact

I still occasionally surf—on a very long, big board—usually on the East Cape of southern Baja.

Steven’s Insights

HH Advisor Insights

Why Hire a Financial Advisor?

HH ranked No. 8 on the 2023 CNBC Financial Advisor 100 list

Last received September 2023 based on 12/31/2022 data.
CNBC enlisted data provider AccuPoint Solutions to assist with ranking.

View Ranking
Disclaimer and Methodology

Disclaimer

The rating is not indicative of Halbert Hargrove Global Advisors future performance. Halbert Hargrove Global Advisors did not pay a fee to participate in the survey.

Methodology

CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for this year’s FA 100 list.

The methodology consisted of first analyzing a variety of core data points from AccuPoint Solutions’ proprietary database of registered investment advisors. This analysis started with an initial list of 40,646 RIA firms from the Securities and Exchange Commission regulatory database. Through a process, the list was eventually cut to 812 RIAs with those firms meeting CNBC’s proprietary criteria.

CNBC staff sent an extensive email survey to all those firms that met the initial criteria to gather more details. In turn, those advisory firms filled out a comprehensive application in regard to their practice. The CNBC team verified that data with those firms and with the SEC regulatory database. AccuPoint once again applied CNBC’s proprietary weighted categories to further refine and rank the firms, ultimately creating the list of the top 100 firms.

The primary data points used in the analysis were reviewed, either as a minimum baseline or within a range, eliminating those firms that did not meet CNBC’s requirements. Once the initial list was compiled, weightings were also applied accordingly. These data points included:

Advisory firm’s regulatory/compliance record. (editor’s note: Each advisory firm’s CRD number was checked for validity. Any firm that had a disclosure on its SEC ADV was automatically disqualified from the ranking)
Number of years in the business.
Number of certified financial planners.
Number of employees.
Number of investment advisors registered with the firm.
The ratio of investment advisors to total number of employees.
Total assets under management.
Percentage of discretionary assets under management.
Total accounts under management.
Number of states where the RIA is registered.
Country of domicile.