Today we feel humble after being notified by CNBC on selecting Freedom Advisory, LLC as one of the Top 100 Wealth Management Firms of the United States.
Perhaps we have been very strict in our overall processes since day one of operations, but this selection took us by surprise. Being number one has not been our primary objective, but being in the top end and providing consistent wealth management processes has been our number one priority to serve our clients. Evidently, these efforts have paid off handsomely to our customers while recognized by the industry on a national level. Yes, we like 94.
TOP RATED FEE ONLY WEALTH MANAGEMENT FIRMS IN US
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 with 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.
Understanding client objectives and matching it to a sensible investment policy, selecting an adequate asset allocation, rigorous manager selection with proprietary evaluation tools, careful due diligence on quantity and quality, performance measurements, superior portfolio reporting standards, continuously partnering with top brass investment managers, using a reputable high-end custodian with great technology, state of the art research systems, understanding macro-economic events, coordinating with our customers' CPA's and lawyers, surpassing the amount of continuing education at national conferences, being objective, understanding the psychological elements in investors behaviors, impeccable disclosure, excellent track record, being transparent and fiduciary to our customers, and not less understanding the entrustment of our clients to trust the Firm to prudently manage their wealth on a discretionary basis is what Freedom Advisory stands for.
We are fortunate to enjoy what we do, and like to give many thanks to our customers, employees and our service providers for being part of this recognition. Please don't keep us a secret share this recognition too.
Eduardo J. Ramos, CIMA
?, CPA, MBA
Freedom Advisory, LLC
Registered Investment Advisor