Award Disclosures

Third party rankings and recognition from ratings services are no guarantee of future investment success. Working with a highly rated adviser does not ensure that a client or prospective client will experience a higher level of performance or results. Ratings should not be considered an endorsement of the adviser by any client nor are they representative of any one client’s evaluation. We believe that it is equally easy for a survey participant to provide favorable and unfavorable responses in the preparation of these third-party ratings which are not designed or prepared to produce any predetermined result. Modera has not directly or indirectly provided compensation to obtain or use these third-party ratings. Please also read a more thorough disclosure and additional information about the methodology used in making these rankings:

Methodology for Awards:

USA Today’s Best Financial Advisory Firm Ranking:

For the third time, USA TODAY and Statista are awarding the “Best Financial Advisory Firms” in the US. The ranking of the best registered investment advisory firms (“RIA Firms”) is based on two dimensions: recommendations by clients, industry experts and financial advisors and a firm’s development of Assets under Management (AUM).

Research and evaluation process:

• Recommendations were collected via an independent survey among over 30,000 individuals. Clients, industry experts and financial advisors working for an RIA firm could recommend the RIA firms they find commendable. Self-recommendations were prohibited and were therefore not included in the evaluation.
• AUM development was analyzed both in the short- and long-term using publicly available data. Short-term AUM development was calculated over a twelve-month period from January 2024 to January 2025, while long-term development spanned a five-year period from 2020 to 2025.
• The final score was calculated by weighting recommendations at 20% and AUM development at 80%. Within the AUM growth metric, short-term and long-term growth were each weighted 30/70.

The 500 RIA firms with the highest score were awarded as USA TODAY’s Best Financial Advisory Firms.

To be recognized as one of USA TODAY’s Best Financial Advisory Firms the following requirements had to be met:

• The firm is registered as an RIA firm with the SEC or at state level for at least one year
• The firm has a principal office in the United States
• The firm has a clean disciplinary record
• The firm offers financial planning services or portfolio management for individuals and/or small businesses
• The firm’s AUM must be greater than $500,000
• The firm achieved an overall score among the top 500

The selection of the firms and the definition of the evaluation criteria were based on independent journalistic criteria of USA TODAY and Statista. The evaluation was carried out by the statistics and market research company Statista. USA TODAY and Statista make no claim to the completeness of the firms examined.

The ranking only includes firms that qualify according to the criteria described in this document. A position in the ranking is a positive recognition based on research of publicly available data sources at the time and extensive surveys.

In addition, events after February 13, 2025 were no longer considered in the analysis. As such, the results of this list should not be used as the sole source of information for future deliberations. The information provided through this top list should rather be considered in conjunction with other available information about a financial advisory firm.

The quality of financial advisory firms that are not included in the ranking is not disputed. For more information on the methodology, please click here.

Financial Advisor (FA) Magazine:

FA’s RIA survey is a ranking based on assets under management at year end of independent RIA firms that file their own ADV with the SEC. FA’s RIA ranking orders firms from largest to smallest, based on AUM reported to it by firms that voluntarily complete and submit FA’s survey by its deadline. FA does it’s best to verify AUM by reviewing ADV forms. To be eligible for the ranking, firms must be independent registered investment advisors and file their own ADV statement with the SEC and provide financial planning and related services to individual clients. Firms must have at least $500 million in assets under management as of December 31, 2023, to be included in the print edition of Financial Advisor magazine’s 2024 RIA survey. Firms with under $500 million will be included in the FA’s expanded online RIA survey. For more information on the methodology please click here.

Worth Leading Advisors Selection Methodology

The core value of the Leading Advisor program to our readers lies in its rigorous selection process and the credibility it bestows upon each listed advisor. Featured Registered Investment Advisor firms has successfully cleared stringent benchmarks:

• AUM of Over $500 Million: Demonstrates substantial experience and trust in handling significant wealth.
• Predominantly High-Net-Worth Clients: Shows specialized expertise in managing the complex financial situations typical of wealthier clients.
• Substantial Planning Clientele: Indicates a focus on comprehensive financial planning rather than simple asset management.
• Independence from Broker-Dealers: Ensures advice is unbiased and purely client-centric.

The rankings were developed in collaboration with Institutional Shareholder Services (ISS), a proxy advisory firm that helps investors comply with SEC rules for Form N-PX disclosure of proxy voting records. The Securities and Exchange Commission (SEC) requires companies to compile and present financial and business information, reports, and disclosures to provide transparency to investors and the public.  Leading Advisor assessments are based on the data that firms submit to the SEC in these disclosures. The public can review SEC filings through the commission’s online database, EDGAR.

For further information on the methodology please click here.

Pensions&Investments Best Places to Work in Money Management:

Pensions & Investments worked with a leading workplace expert to produce the 2023 Best Places to Work in Money Management list of top companies. Best Companies Group, Harrisburg, Pa., undertook a two-step process to develop the list, designed to gather detailed data about each organization. To participate, a firm had to have at least 20 employees in the U.S., have at least $100 million of discretionary, institutional assets under management or advisement and be in business for at least one year. In part one, the employer completed a questionnaire about the firm’s policies, practices, benefits and demographics. U.S. employment numbers for each firm were then confirmed by Best Companies. In part two, employees were emailed an engagement and satisfaction survey that consisted of 77 statements. Employees were asked to respond on a 1-to-5 scale of “Disagree Strongly” to “Agree Strongly.” Two questions also were asked: What did the firm do to make it a place where people wanted to work, and what things could the company do to increase employee satisfaction and productivity. The compiled data allowed Best Companies to determine the strengths and weaknesses of the participating firms. Employee responses accounted for 75% of the total company score, with the employer responses making up the remaining 25%. For the final step, Best Companies examined the data to verify and finalize the rankings. At P&I’s request, participating firms were ranked against others of similar size. Assets under management and assets under advisement figures are as of June 30, unless otherwise noted. Company and employee comments from the survey have been edited for space, style and clarity.

Charlotte Business Journal Largest Financial Planning Firms:

Charlotte Business Journal determines the rankings for Largest Financial Planning Firms solely by the number of CFP® professionals at the local office.

Financial Times Top 300 RIA Ranking:

To ensure a list of established companies with substantial expertise, we examine the database of RIAs registered with the US Securities and Exchange Commission and select those that reported $300m or more in assets under management (AUM).

The Financial Times’ methodology is quantifiable and objective. The RIAs have no subjective input.

The FT invites qualifying RIA companies — more than 2,000 — to complete a lengthy application that gives us more information about them. We add this to our own research into their practices, including data from regulatory filings. Some 760 RIA companies applied and 300 made the final list.

The formula the FT uses to grade advisers is based on six broad factors and calculates a numeric score for each company. Areas of consideration include adviser AUM, asset growth, the company’s age, industry certifications of key employees, SEC compliance record and online accessibility. The reasons for these criteria are as follows:

• AUM signals experience managing money and client trust.
• AUM growth rate can be a proxy for performance, as well as for asset retention and the ability to generate new business. We assessed companies on one- and two-year growth rates.
• Companies’ years in existence indicates reliability and experience of managing assets through different market environments.
• Compliance record provides evidence of past client disputes — a string of complaints can signal potential problems, for example.
• Industry certifications (CFA, CFP, etc.) show the company’s staff has industry knowledge and signals a professional commitment to investment skills.
• Online accessibility demonstrates a desire to provide easy access and transparent contact information.
• AUM comprised approximately 70 to 75 per cent of each adviser’s score, while asset growth accounted for 15 to 20 per cent. Additionally, the FT caps the number of companies from any one state, based roughly on the distribution of millionaires across the US.

Barron’s Top RIA Firms:

Barron’s annual ranking of independent advisory companies is based on assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Barron’s publishes four individual advisor rankings each year (Top 100 Advisors, Top 100 Women Advisors, Top 100 Independent Advisors, Top 1,200 Advisors) along with three team- or firm-based rankings (Top RIA Firms, Top Institutional Consultants, Top Wealth Management Firms).

The goal is to shine a spotlight on the nation’s best financial advisors, with an eye toward raising standards in the industry. The rankings serve two distinct types of Barron’s readers. For wealth management professionals, they serve as an industry scorecard. For investors, the rankings are a tool that can help in the process of finding financial guidance.

Advisors who wish to be ranked fill out a 102-question survey about their practice. Barron’s verifies that data with the advisors’ firms and with regulatory databases and then applies its rankings formula to the data to generate a ranking. The formula features three major categories of calculations: (1) Assets (2) Revenue (3) Quality of practice. In each of those categories we do multiple subcalculations.

Barron’s takes into account not just the amount of assets an advisor manages, but also the type of assets—are they private-wealth assets or institutional? If they’re institutional, are they for a foundation or an endowment, or are they corporate assets? Barron’s measures the growth of advisors’ practices and their client retention. Barron’s also considers a wide range of qualitative factors, including the advisors’ experience, their advanced degrees and industry designations, the size, shape, and diversity of their teams, their charitable and philanthropic work and, of course, their compliance records.

The rankings are meant as a starting point for clients looking for an advisor—a first-pass vetting that can help investors narrow a search. Every advisor will have his or her own approach to investing, financial planning, and other services. Clients are encouraged to approach a search for an advisor the way they would a search for a doctor—interviewing multiple professionals and getting opinions from multiple third parties.

https://www.barrons.com/advisor/report/top-financial-advisors/ria

https://www.barrons.com/advisor/articles/barrons-methodology-for-ranking-financial-advisors-51615843316

InvestmentNews Fastest-Growing Fee-Only RIAs

InvestmentNews selected the second annual Fastest-Growing RIAs based on data reported to the Securities and Exchange Commission on form ADV.

To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after July 1, 2023, (2) total AUM is at least $100 million, (3) does not have employees who are registered representatives of a broker-dealer, (4) managed assets for individual clients during its most recently completed fiscal year, (5) no more than 50 percent of amount of regulatory AUM is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25 percent of amount of regulatory AUM is attributable to pension and profit-sharing plans (but not the plan participants), (7) no more than 25 percent of amount of regulatory AUM is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, and (12) has neither a related person who is a broker-dealer/municipal securities dealer/government securities broker or dealer (registered or unregistered), not one who is an insurance company or agency.

To be considered for the list of Fastest-Growing RIAs, firms must have met the criteria in each year (ending July) between 2021 and 2024. In cases where a firm filed more than one annual update to their ADV, the latest filing for the year was used.