Ranking Disclosures

Barron’s Ranking Disclosure

The ranking is based on data provided by individual advisors and their firms. Advisor data is confirmed via regulatory databases, cross-checks with securities firms and conversations with individual advisors. The rating is not indicative of Bloom Advisors future performance. Bloom Advisors did not pay a fee to participate in the survey.

The formula Barron’s uses to rank advisors is proprietary. It has three major components: assets managed, revenue produced and quality of practice. Investment returns are not a component of the rankings because an advisor’s returns are dictated largely by the risk tolerance of clients. The quality-of-practice component includes an evaluation of each advisor’s regulatory record.

Source: Barron’s Online

CNBC Rankings Disclosure: CNBC Top 100 Fee-Only Financial Advisors (2014, 2015)

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

The CNBC Digital editorial team, along with Meridian-IQ, created the following ranking methodology for its Top 100 Fee-Only Wealth Management Firms rankings. Scores for each measure listed below were weighted according to a proprietary formula to arrive at a final total rank:

Assets under management.
Having staff with professional designations such as a CFP or CFA.
Working with third-party professionals such as attorneys or CPAs.
Average account size.
Growth of assets.
Years in business.
Number of advisory clients.
Providing advice on insurance solutions.

Firms with greater AUM totals were given a higher ranking in the case of numerical ties of the above formula. The Meridian/AdviceIQ team then applied the formula to the Meridian-IQ database of all RIAs to create the list. The final step to create the Top 100 Fee-Only Wealth Management Firms list for CNBC.com was to apply the AdviceIQ Regulatory Compliance Review process to the master list and eliminate any firm that failed the RCR process.

The RCR process is a due-diligence process whereby each advisory firm was compared to the RCR database of all regulatory actions from all four primary regulators: SEC, FINRA, state regulators and state insurance commissioners. In order to pass the RCR process, an advisory firm cannot have any complaints, actions or disclosures from any of the above regulators.

Source: CNBC Top 100 Fee-Only Financial Advisors

CNBC Ranking Disclosure: CNBC Financial Advisor 100 (2023)

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

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.

CNBC receives no compensation from placing financial advisory firms on our list. Additionally, an advisor’s appearance on our ranking does not constitute an individual endorsement by CNBC of any firm.

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. (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.

Source: CNBC FA 100

5 Star Wealth Manager, HOUR Magazine

The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required:

Credentialed as a registered investment adviser or a registered investment adviser representative;
Actively licensed as a registered investment adviser or as a principal of a registered investment adviser firm for a minimum of 5 years;
Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not;

- Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine;
- Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one client’s experience
- Individually contributed to a financial settlement of a customer complaint;
- Filed for personal bankruptcy within the past 11 years;
- Been terminated from a financial services firm within the past 11 years;
- Been convicted of a felony);

Fulfilled their firm review based on internal standards;
Accepting new clients. Evaluation criteria – considered:
One-year client retention rate;
Five-year client retention rate;
Non-institutional discretionary and/or non-discretionary client assets administered;
Number of client households served;
Education and professional designations.

Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients or provide any expectation of future performance. Once awarded, wealth managers may purchase additional profile ad space or promotional products.

The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their client’s assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com.

Source: Five Star Professional

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