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This profile was last updated on 7/16/14  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Herb D. Vest

Wrong Herb D. Vest?

Chief Executive Officer

HDVMS - True.com
 
Background

Employment History

Board Memberships and Affiliations

Education

  • academic degrees
  • Bachelor of Science , Political Science
  • Master of Science , Taxation
  • Master of Science , Financial Services
  • Master of Science , Management
  • graduate degree
    Wharton School
  • graduate degree
    Harvard Law School
  • graduate degree
    Princeton University
196 Total References
Web References
Metric Interactive | About
www.metricinteractive.com, 12 Feb 2012 [cached]
Herb Vest - Chairman & Founder
Herb D. Vest, chairman and founder of HDVMS, created Metric Interactive in 2007 to respond to the unique opportunities of the Internet.
In 2005, he founded AdShuffle to address shortcomings in previous ad serving technology that he had experienced firsthand as the owner of one of the web's most heavily trafficked sites. AdShuffle is the latest in a series of revolutionary businesses built by Vest.
In 2003 he founded and became CEO of TRUE.com - the leading scientifically based relationship service whose mission is to help singles find long-lasting, fulfilling relationships. Before that, Vest was founder and CEO) of H.D. Vest Financial Services. The company served an estimated 2 million individual and small business clients, offering a new, one-stop shopping approach on financial products and services through a national network of CPAs and tax professionals. It was traded on NASDAQ under the symbol of HDVS until its merger with Wells Fargo in 2001.
From 1973 to 1983, Vest was a public accountant, focusing on tax preparation and advice. He also taught courses in income taxation at the University of Texas at Arlington and at North Lake College. Vest served as a U.S. Army Infantry Officer in Vietnam, during which he attained the rank of captain. While in the service, he completed the Combat Tracker Course at the British Jungle Warfare school in Malaysia and attained a Top Secret security clearance. For his valor and skill, he was awarded the Purple Heart, as well as a Bronze Star with oak leaf cluster.
A Mensa member, Vest holds seven academic degrees, including a Bachelor of Science in Political Science, a Master of Science in Taxation, a Master of Science in Financial Services, a Master of Science In Management, a Juris Doctor, a Doctor of International Business Administration and a Master of Laws. He completed postgraduate work at Harvard Law School, Princeton University and Wharton School, among others. Additionally, he has served on the board of several large companies and organizations, including the Southern Methodist University School of Law Executive Board and the American Small Business Association, in addition to being a representative for the Office of U.S. Trade.
In 1999, Vest received Ernst & Young's prestigious "Entrepreneur of the Year" award. He was named to Accounting Today's "100 Most Influential People in Accounting" from 1994-2000, and was also a finalist for Inc.
Online Personals Watch: TRUEcomWatch.com
onlinepersonalswatch.typepad.com [cached]
Vest met her husband, Herb Vest on a blind date, and the two of them built TRUE (16m members) together in 2003.
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"If we find [a member has] a felony conviction, we're going to turn [them] in for wire fraud," said CEO Herb Vest.TRUE uses a criminal screening company called "Rapsheets," which has ~94% of U.S. felony convictions," said Vest.He says Wells lives in a country that does not provide criminal data to certain companies.
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Vest says the sex offender registry isn't commercially feasible to use.Rapsheets performs thousands of background checks instantaneously."There's no database, there's nothing I could do to possibly get all of the convicted felons," said Vest.
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PRNEWSWIRE -- Aug 24 -- "We are so excited that TRUE has eclipsed the 10 million member mark and continues to maintain that growth, signing up nearly a thousand new singles per hour," says Herb Vest, founder and CEO of TRUE.Hitwise ranked TRUE the #1 site in the Lifestyle-Dating category for three months in a row, out of the more than 1,421 sites.By conducting criminal background screenings before allowing members to communicate with one another, TRUE significantly reduces the number of felons on its site.TRUE also works with Federal and State agencies, including parole boards, by notifying them that a member has misrepresented his or her criminal or married status in order to improperly communicate with members."I can't guarantee that ex-felons and marrieds cannot get on TRUE; but, I can guarantee that they will be very, very sorry that they did," says Vest.
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I do all I can do to prevent that," said Herb Vest, TRUE.com CEO.So far, California, Florida, Texas and Michigan have considered (background checks) legislation.
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"I am very, very concerned that Internet dating sites in general do not take this criminal situation seriously," said Vest, who is advocating legislationrequiring dating sites to disclose on their home pages whether they do background checks.
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"They're willing to do just about anything," says TRUE founder Herb Vest, "within the normal parameters."
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Herb Vest, CEO of TRUE, said the sheer number of singles participating online is a draw.
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Herb Vest, CEO of True.com, says background checks can help the online dating industry's credibility.
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Vest acknowledges that True.com's system has holes, but says "I can't promise criminals that they can't get on" True.com.
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"I make a promise to my members," said Herb Vest, TRUE's CEO.
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"When I founded this company, I made a commitment to our members that we would do our best to create a wholesome environment for courtship -- one that includes a safer dating experience," said Herb Vest, TRUE's founder and CEO.
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Herb Vest, Founder/CEO of TRUE, argued that it's still safer to perform background checks.But he agrees that if a firm touts that it does background checks, it would be wrong to say that without also disclosing the inherent fallibility of those checks.
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Approximately 5% of the site's applicants fail to pass the felony screening and another 4% fail the marriage screening, CEO Herb Vest said.
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"Sexual incompatibility is one of the top two causes of relationship conflict, making great sex a vital part of a successful long-term romantic relationship," said Herb Vest, CEO of TRUE.
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Proponents like Herb Vest, CEO of True.com, contend that checks will help weed out unsuitable mates.
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Mark Brooks, Editor of Online Personals Watch, interviews Herb Vest, True.com's CEO and Founder.
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BUSINESS WEEK -- May 9 -- The founder and CEO of True.com, Vest has been pushing several state legislatures to pass a bill mandating that all online-dating sites do background checks on their members or carry a disclaimer if they choose not to.The legislation has been proposed in California, Michigan, Texas, and Virginia, but so far has gained the most momentum in Florida, but it ran out of time.Match.com, Yahoo, Microsoft, and others are against it.The American Civil Liberties Union contend it violates members' privacy.Vest and Republican state legislators -- John Carona, Texas, Alan Cropsey of Michigan, and Ambler of Florida -- believe the Internet's current anonymity lulls people into a false sense of security.
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Before starting True.com, Vest owned a financial firm called HD Vest, a network of independent accountants who also gave financial-planning advice.In the early 1990s, it was either illegal or against accounting rules to take commissions in 40 out of 50 states.Vest ignored the rules.The FTC backed Vest's stance and the American Institute of CPAs reversed its anticommission stance, causing many of the states to follow suit.Vest's firm prospered and was sold to Wells Fargo in 2001 for $127 million.No matter what happens on the state level with background checks, Vest aims to be a thorn in the online-dating industry's side for years to come.FULL ARTICLE @ BUSINESS WEEK
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"We believe it's our mission to end the divorce rate in the U.S., so we have to provide a wholesome environment," said Vest, the CEO.
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True's CEO Herb Vest said, "we don't want criminals and married people preying on our members.
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DALLAS NEWS -- Apr 27 -- Herb Vest, the Dallas entrepreneur who led the fight to reshape the accounting industry, is taking on a new set of opponents: massive technology companies.His rivals oppose his nationwide effort to require that users of online dating services undergo criminal background checks.His last crusade roiled the accounting establishment, resulting in changes to state rules that broadened the profession's emphasis from independent audits to selling financial advice.When opponents say that he is redeeming political chits to advance his bill for criminal-background checks, Mr. Vest notes that his opponents spend more on lobbyists, and donate more to politicians, than he does.Mr. Vest founded True.com in 2003, after selling his share of the accounting business he founded, H.D. Vest Inc., to Wells Fargo in 2001 for ~$84 million.Mr. Vest said he started the site because he was concerned about the country's "prodigious divorce rate."True.com features a compatibility test that Mr. Vest says was developed by a psychological research firm."A 50% divorce rate leaves in its wake devastation among children," he said.
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LA TIMES -- Apr 25 -- True's founder and CEO, Herb Vest, believes that every online dating service should conduct background checks, as True does."The primary motivation is to protect people from criminal predation online.I can't imagine anyone with a hatful of brains being against that."Vest said he spent $200,000 last year on lobbyists around the country.Although opponents charge that his goal is to gain publicity for his site, the legislation has met with at least some success in four states.
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But Vest acknowledges that it's not clear whether a search of criminal records would have prevented any of several cited incidents.
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Vest, 60, defended his plan, saying that it was born less of business interests than a personal crusade against violence.Shortly before his second birthday in 1946, he said, his mother found his father dead at his cabinetry business.The death was judged a suicide, but recently, Vest said, he uncovered evidence that it was a homicide. (The case was featured on CBS-TV's "48 Hours" news program this year.) "The murder of my father certainly left its mark on me," Vest said."I believe that I perhaps have a great deal more compassion about these matters.Deep down, I want to protect people from criminals."There could be long-term economic benefits from standardized background checks for the entire industry, said Vest, who founded a financial-services company that was sold to Wells Fargo & Co. in 2001 for $127.5 million.
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Herb Vest made it legal.
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Herb Vest, founder of the site, said the Michigan legislation would save lives, property and heartache."As an industry, we owe it to our members to inform them of the potential hazards," he said.In a debate on the floor last week, Democratic Sen.
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"We believe this legislation would save lives and prevent rapes, robberies and assaults," Herb Vest, True CEO.
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Very smart PR campaign ... seems to be getting more traction than even the CEO, Herb Vest, expected.
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True's CEO Herb Vest warns: "If a person is married or a criminal, they best go somewhere else."
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So far, Vest (CEO True.com) has persuaded legislators in several states to sponsor l
Study
www.icrsurvey.com, 31 Jan 2000 [cached]
``We recognize that security of financial information is the number one barrier people have to preparing their income tax returns via the Internet,'' said Herb D. Vest, CPA, chairman and CEO of H.D. Vest, Inc. ``That's why we have made security our number one priority at www.hdvest.com so that we can help to reassure Americans that e-filing and online tax preparation is secure, private, easy, and the wave of the future.''
H.D. Vest Financial Services® - The H.D. Vest Story
www.joinhdvest.com, 31 Dec 2007 [cached]
Herb Vest, a CPA, had become one of his clients' most trusted advisors. His clients continually asked him for all sorts of financial advice regarding retirement plans, educational funding and other investment strategies so Herb referred his clients to stockbrokers and insurance agents to handle their concerns. Every tax season the new investments would show up on the client's 1040, and often the investment was not what Herb had recommended for the client.
Herb became fed up with his inability to help his clients address their financial concerns. Cautiously, he began to offer financial services to his clients. To his amazement, client after client loved it. In fact, his practice grew so fast, Herb actually had to release some of his clients to provide the best level of service. Even with fewer clients, his net income and his referrals grew substantially.
By 1983, it was clear to Herb Vest that more tax and accounting practitioners should add financial services to their practices because of the enormous benefit to their businesses and the welfare of their clients. Unfortunately, existing financial services firms did not focus on the special needs of the tax professional. For this reason, Herb founded H.D. Vest Financial Services, a firm dedicated to helping tax and accounting practitioners integrate financial services into their practices.
Although he was up against accounting regulations that prohibited CPAs from receiving commissions, he realized the importance of building a company dedicated to licensing, training and supporting CPAs and other tax practitioners throughout the country who desired to add financial planning to their practices. Herb took risks and defied these regulations, lobbying hard over the next three years to change the laws. In 1987 both the AICPA and state of Texas agreed to repeal the long-entrenched rule prohibiting commissions. Most importantly, Herb proved the company's credibility and succeeded in convincing more and more CPAs, accounting professionals and accounting regulators that financial planning was the wave of the future for traditional tax practitioners as well as a clear benefit to the public.
Online Personals Watch: MatchWatch.net
onlinepersonalswatch.typepad.com [cached]
I do all I can do to prevent that," said Herb Vest, TRUE.com CEO.So far, California, Florida, Texas and Michigan have considered (background checks) legislation.
...
"I am very, very concerned that Internet dating sites in general do not take this criminal situation seriously," said Vest, who is advocating legislationrequiring dating sites to disclose on their home pages whether they do background checks.
...
"They're willing to do just about anything," says TRUE founder Herb Vest, "within the normal parameters."
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