Ranking financial advisers
- June 1, 2008
R. J. Shook’s ranking process begins with a national survey of securities firms, insurance companies, banks, independent financial adviser practices, and other organizations that employ series-7 registered financial advisers. Shook says that each of these firms promotes objective and independent advice and provides clients open access to the best products available in the market. He extracted the Virginia rankings from his national research database.
The rankings are based on criteria such as a minimum of seven years of financial services experience and other weighted requirements ranging from acceptable compliance records and wealth management focus to customer satisfaction reports.
Advisers are then ranked based on an algorithm that weighs varying types of revenues, custodied and noncustodied assets advised by the financial professional, and individual versus institutional assets. (Custodied assets are those investments held by the adviser’s firm. Noncustodied assets are those held at other financial institutions.) The rankings do not consider client portfolio performance. See http://www.winnerscirclenet.com for more information.