The rankings are based on assets under management, revenues generated by advisors for their firms, and the quality of the advisors’ practices.
#AVERAGE CLIENT BASE PER FINANCIAL ADVISOR PLUS#
This special report ranks the top advisors in each of the 50 states, plus the District of Columbia, with the number of spots determined by each state’s population and wealth. And judging from their average client-retention rate of 98.4%, the clients are satisfied with the results. They each manage about $3 billion in total.
Ranked advisors and their teams typically serve 750 households, each of which has an average of $14 million to invest. With an average tenure in the industry of 30 years, this year’s Top 1,200 Advisors have plenty of perspective on what works and what doesn’t. “We show clients that their retirement goals are being met,” says Princi, who helps manage $7.1 billion of client assets, “and that it’s not worth it to put their portfolio at risk.” Good advisors put the positive and the negative into perspective for their clients and keep them focused on long-term goals rather than the hot investment of the moment. And looking past 2021, there’s growing talk about the possibility of accelerating inflation. Likewise, Covid-19-damaged companies may sport bargain prices, but not all will bounce back as the pandemic is brought to heel. Hewing to the megacap names that powered theġ8.4% return in 2020 may be a mistake, for instance: Four of the index’s five largest components were down for the first two months of this year. Princi and most of his peers say that’s not the case right now, but they do point to dynamics that could trip up unwary market participants. Investors throwing caution to the wind can signal the imminent popping of a bubble.
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