Banking | Finance 2024: LAWRENCE ‘LARRY’ BERNERT III

After Clearstead Advisors, an Ohio-based financial advisory firm, acquired the assets of Norfolk-based Wilbanks Smith & Thomas Asset Management in April, Bernert’s job evolved from principal and portfolio manager to senior managing director for Clearstead Advisory Solutions, which is a division of Clearstead. 

Previously, WST boasted more than $5 billion of assets under management. Clearstead and its subsidiaries report about $44 billion in total assets under advisement, including $20 billion in total assets under management. The company has 225 employees and offices in nine cities. 

Bernert joined WST in 1995 and previously served as the firm’s director of research. While earning his degree in English literature at the University of Virginia, Bernert studied at Cambridge University. He also earned his MBA at U.Va. 

In May, the Virginia General Assembly appointed Bernert to the board of trustees of the Virginia Retirement System, an independent state agency that delivers retirement funds and other benefits to covered Virginia employees.

Bernert sits on several other boards, including the City of Norfolk Employees’ Retirement System, where he chairs the system’s investment committee.