Modera Wealth Management is pleased to announce that we have made the Forbes Top RIA Firms 2024 List, ranking #98 out of 250 firms nationwide.
From Forbes, “As investors navigate the fraught market landscape, they turn to registered investment advisory (RIA) firms, which are legally bound by a fiduciary standard to work in a client’s best interest rather than for the highest commissions.”
This is the third annual Forbes/Shook Top RIA list and the first time Modera has received this honor. The list showcases firms with proven track records in managing and safeguarding client wealth for the long term.
“We are proud that an esteemed publication such as Forbes has recognized us for our commitment to our client-first, fiduciary approach and for our dedication to helping the clients we serve achieve their long-term financial goals.” said Tom Orecchio, Modera CEO, Principal and Wealth Manager.
The Forbes ranking of America’s Top RIA Firms, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone, virtual and in-person due diligence interviews, and quantitative data. The algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. SHOOK scours the financial services industry for nominations. SHOOK accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records. As of October 9, 2024 SHOOK has received nearly 46,212 nominations—advisors who meet SHOOK’s thresholds. 25,103 of these nominees have taken an online survey. Unlike other advisor rankings, SHOOK is not a “robo-ranker”—numbers such as production and assets don’t tell the whole story, especially when much of the data is self-reported. SHOOK Research creates rankings of role models—firms that are leading the way in offering best practices and providing a high-quality experience for clients. A focus on both quantitative and qualitative factors, including telephone and in-person meetings, is imperative. SHOOK Research is the only ranking firm that interviews firms and advisors via telephone and in person at the firm’s location. For more information on methodology, click here.
