About the Five Star Award

Five Star Professional, as a third party research firm, identified pre-qualified award candidates based on industry data and contacted all identified broker dealers, Registered Investment Advisor firms and FINRA-registered representatives to gather wealth manager nominations. Self-nominations are not accepted, although a firm may nominate up to 10% of its employees. Award candidates are then evaluated against 10 objective eligibility and evaluation criteria. This criteria includes (1) credentialed as a registered investment advisory representative or registered investment advisor, (2) actively employed as a credentialed professional in the financial services industry for a minimum of five years, (3) favorable regulatory and complaint history review, (4) fulfillment of their firm review based on internal firm standards, (5) currently accepting new clients, (6) and (7) client retention rates for one-year and five-year periods, (8) client assets administered, (9) number of client households served, and (10) education and professional designations. Five Star Professional determines the final list of Five Star Wealth Manager Award winners. The award does not evaluate the quality of services furnished to clients and it is possible that the recipient may have received unfavorable ratings from those surveyed.

  • 2,437 candidates in the Boston area were considered for the 2017 Award. 623 of these candidates (26%) were names 2017 Five Star Wealth Managers.
  • Wealth managers and/or their firms do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers.
  • The Five Star award is not indicative of the wealth manager’s future performance or investment success.
  • Wealth managers may or may not use discretion in their practice and therefore may not manage their clients’ assets.
  • The inclusion of a wealth manager on the list should not be construed as an endorsement of the wealth manager by Five Star Professional. 
  • Five Star Professional defines a “favorable regulatory and complaint history” as a wealth manager who has not been subject to a regulatory action resulting in a license being suspended, revoked or payment of a fine; has not had more than a total of three settled or pending complaints filed against them with any regulatory authority; has not individually contributed to a financial settlement of a customer complaint; and has not been terminated from a wealth management or financial services firm, filed for personal bankruptcy, or been convicted of a felony within the past eleven years.
  • For more information on the Five Star award and the research/selection methodology, go to www.fivestarprofessional.com.