Forbes and SHOOK Research Awards
BEST-IN-STATE WEALTH ADVISORS
The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their 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.
AMERICA’S TOP NEXT GENERATION WEALTH ADVISORS
The Forbes Next-Gen Wealth Advisors rankings, developed by SHOOK Research, is based on an algorithm of qualitative criterion—mostly gained through telephone and in-person due diligence interviews—and quantitative data. Those advisors that are considered have a minimum of four years’ experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass the highest standards of best practices. 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.
BARRON’S Awards
Barron’s Top 100 Independent Advisors and Top 1200 Financial Advisors
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 they apply a 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, Barron’s does multiple sub calculations. It 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.
Five Star Professional
Largest and Fastest Growing Firms
Five Star Professional (FSP) recognizes Twin Cities wealth managers each year. No fees are paid except for s of marketing materials. Self-completed questionnaire was used for rating. The award is based on 10 objective criteria. Thousands of candidates were considered, with only approximately 15% receiving the Five Star Wealth Manager award. The award focuses on objective criteria like experience and client retention, not investment performance
Minneapolis/St. Paul Business Journal
Best Places to Work
The Best Places to Work Awards recognize local employers that have gone above and beyond to create an outstanding workplace culture. The rankings are based on confidential surveys of employees that measure success in team dynamics, trust in leadership, communication and more, with only the top-scoring companies in the region earning the coveted right to be named one of the Best Places to Work.
FA Magazine
Largest RIAs and Fastest Growing Firms
Information on this was supplied by individual companies pulling discretionary and nondiscretionary AUM reported on the latest ADV forms.