Methodology: America’s Top Next-Gen Wealth Advisors 2022

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The future of wealth management is here.

We started our rankings initially in 2001, spotlighting the best-of-the-best advisors. In 2017 we started looking for the up-and-comers with our Next-Gen rankings—those under 40.

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With an average tenure of over 16 years, there’s a reason millions of families are entrusting their future with this group: they have proven that they stand among the very best in wealth management. Sandwiched between generations, these advisors are eagerly sought by the industry to best serve families.

They’re seasoned, have lived through market cycles, and their deep relations with families—often representing three or more generations—position them among the best wealth management has ever seen.

Here’s more proof: they’re now appearing on our rankings that have until now been limited to advisors with an average of 25+ years’ experience.

We believe our Top Next-Gen Wealth Advisor rankings are an early peek of our future Top Wealth Advisor rankings—say, 10 or more years from now.

Our rankings represent the true role models of the industry. They set the standards, and because these advisors are dedicated to always keeping their edge, they help raise the bar.

Best-In-State Ranking

Our national Top Advisor rankings don’t tell the whole story. Most of these advisors are concentrated around the bigger markets such as New York and San Francisco. But we’ve uncovered great advisors in all markets—Arkansas, Montana, and other states with smaller concentrations of wealth.

We believe clients are oftentimes better served by local representation. For example, a Houston-based investor who made her fortune in oil may prefer a local advisor with experience in that sector; a tech entrepreneur may want an advisor well-versed in start-ups and funding; or a farmer may seek an advisor with expertise in the futures markets. Many of the clients we talk to say they consider their advisors and teams like a part of their families, so it’s nice to have them close by.

Most importantly, the very best advisors are laser focused on having a positive impact on their clients’ lives. They want to add meaning, help them live better lives. This is how we think about our research process every day.

Research Process

Since we are recommending advisors to the public, we have to make sure every advisor is high quality and can provide impact.

No other advisor ranking provides this type of research and deep due diligence, which includes telephone interviews with every advisor, and in-person meetings—we’ve met with thousands of advisors in their offices.

Every time we interview an advisor we are thinking to ourselves: “Is this someone that can offer impact, and would we recommend them to a friend or family member?”

Methodology

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.

Research Summary For SHOOK Advisors (as of August 2022)

We don’t want 300,000 nominations, so we set thresholds to minimize the quantity we receive, which in this case included:

  • 35,465 nominations for all rankings
  • 19,986 invited to complete online survey
  • 14,892 telephone interviews
  • 3,038 in-person interviews at advisors’ location
  • 1,357 virtual interviews
  • 3,513 individuals considered for our Next-Gen ranking

SHOOK Disclosures

SHOOK is completely independent and objective and does not receive compensation from the advisors, firms, the media, or any other source in exchange for placement on a ranking. SHOOK is funded through conferences, publications and research partners. Since every investor has unique needs, investors must carefully choose the right advisor for their own situation and perform their own due diligence. SHOOK’s research and rankings provide opinions for how to choose the right financial advisor and not indicative of future performance or representative of any one client’s experience. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Remember, past performance is not an indication of future results.

For more information, please see www.SHOOKresearch.com,

Click here for the full list of Forbes‘ Top Next-Gen Wealth Advisors and Top Next-Gen Wealth Advisors Best-in-State.

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Credit: www.forbes.com /

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