{"id":25763,"date":"2023-10-10T16:51:04","date_gmt":"2023-10-10T16:51:04","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/wealth\/americas-top-ria-firms-2023\/"},"modified":"2023-10-10T16:51:05","modified_gmt":"2023-10-10T16:51:05","slug":"americas-top-ria-firms-2023","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=25763","title":{"rendered":"America\u2019s Top RIA Firms 2023"},"content":{"rendered":"
\n

Clearly more and more families are entrusting independent advisors to manage their assets. But how does one choose between countless firms? It\u2019s one thing to choose an advisor who works for a global brand, like a major bank. But how does one begin to choose amid thousands of independent firms?<\/p>\n

<\/fbs-ad><\/p>\n

SHOOK is here to help. As the world\u2019s only advisor research firm in the world with a specialty in quality, SHOOK performs deep due diligence as the basis for its rankings.<\/p>\n

Disclosure: SHOOK is completely independent and objective, and does not receive compensation in exchange for placement on its rankings. <\/em><\/p>\n

What Qualities Does SHOOK Look For?<\/p>\n

To start, every ranking of independent advisors we\u2019ve seen focus on size\u2014total assets under management, headcount, etc. But that\u2019s like recommending a major bank\u2014how does recommending an entire firm help anyone looking for a single trusted advisor?<\/p>\n

For bigger firms, SHOOK focuses on individuals or teams. But for individuals looking for an independent advisor, SHOOK\u2019s focus on quality skews its recommendations towards firms in which we can thoroughly understand how each client is actually treated. In doing so, we measure aspects like processes that are inherent in each client relationship, what is the team\u2019s purpose, and what is the underlying culture that we see throughout all levels of employees.<\/p>\n

When we meet with these independent firms, we take a close look at leadership and the senior principals since they tend to dictate every client\u2019s experience. When we meet with a firm or an advisor for a due diligence meeting, we are always thinking to ourselves, “Would we recommend this firm (or individual) to a friend or family member?” Quality is always first; if we’re going to include a firm (or advisor) on our rankings, we have to make sure everyone is of the highest quality.<\/p>\n

<\/fbs-ad><\/p>\n

The Forbes<\/em> ranking of America\u2019s Top RIA Firms, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone, virtual and in-person due diligence interviews, and quantitative data. The algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes<\/em> nor SHOOK receive a fee in exchange for rankings.<\/p>\n

(For the full list and more, visit <\/em> www.forbes.com\/lists\/top-ria-firms; advisors can complete a survey for upcoming rankings at <\/em>www.SHOOKresearch.com<\/em>.)<\/em><\/p>\n

Research Summary<\/u> (as of October 2023)<\/strong><\/p>\n

We don’t want 300,000 nominations so we set thresholds to minimize the quantity we receive:<\/p>\n