Best Financial Advisor List

“There is at least the potential that we will see a lost generation of investors; those who are unwilling or not able to stay committed to it, and those who are newer investors, and who have only lost money in stocks,” says Lance McIntosh, senior VP at Ragen MacKenzie. He says many of his clients don’t even want to hear stock info; they’re looking to pull out entirely and keep their portfolios at a certain level. It’s hard to find a financial advisor who is willing to put your own interests at the forefront, when so many advisors are struggling to survive themselves. To help, Barron’s financial magazine put together a trustworthy list of 1,000 best performing financial advisor professionals for 2008-2009. Many of these advisors come from brokerage houses and units of banks, rather than Wall Street firms.

Barron’s top financial advisors are primarily listed by state, although there were also some financial advisor winners who emerged across the board. Merrill Lynch, for instance, had 239 of its advisors make the list. Even though the company was teetering on the verge of bankruptcy before being acquired by Bank of America last year, their established presence in every state has helped them remain afloat in troubled times. “We are continuing to set the standard by which other advisory firms are measured,” explains SVP Dan Sontag, head of Global Private Client’s Americas Advisory Division. “Our growing number of advisors on the Barron’s list reflects the strength and depth of our entire field.”

Clarfeld is another one of the top financial advisor firms in the nation. “Just as impassioned scientists don’t go to the laboratory in search of a Nobel Prize, we never perform our services for the sake of winning awards or rankings,” the company states. “Yet, truly, we are at once humbled by and proud of this special moment in our firm’s evolution and the recognition we have received from one of the premier financial publications in the world.” For over 28 years, Clarfeld has focused on value-added services like tax planning, investment management and financial planning.

It’s a tough time for the financial advisor today. In a recent study conducted by the Financial Research Corp, 40% of advisors surveyed said they experienced staff cutbacks this year, 31% reported cuts in marketing support and 27% said their compensation structures declined. Across all channels, 61% of top-level financial advisors said they spent more time meeting with clients. “We call this the advisor pinch,” explains Margaret Rorick, senior VP of research at FRC. “They have to do more with less and are getting more questions from clients. Advisors have to do more of the back office work and spend more time meeting with clients. They have to do more research to come up with answers and provide education for clients. That makes it harder for them. And not many people stop and feel bad for advisors.”

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Tagged with: a financial advisor • advisory council • advisory services • independent financial advisor • stock info

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