About the Five Star Wealth Manager Award
Five Star Wealth Manager Award, administered by Crescendo Business Services, LLC (dba Five Star Professional) selects award recipients based on following 10 objective eligibility and evaluation criteria: (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.
- 2,819 candidates in the Boston area were considered for the 2018 Award. 532 of these candidates (19%) were named 2018 Five Star Wealth Managers.
- In 2017, 2467 candidates were considered of which there were 623 (25%) award recipients.
- In 2016, 2530 candidates were considered of which there were 632 (26%) award recipients.
- In 2015, 3542 candidates were considered of which there were 801 (23%) award recipients.
- In 2014, 1707 candidates were considered of which there were 655 (38%) award recipients.
- In 2013, 2362 candidates were considered of which there were 713 (30%) award recipients.
- In 2012, 2591 candidates were considered of which there were 454 (17%) award recipients.
- 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 award does not evaluate the quality of services provided to clients and it is possible that the recipient may have received unfavorable ratings from those surveyed.
- The Five Star Wealth Manager award is not indicative of the wealth manager’s future performance or investment success.
- The inclusion of a wealth manager on the list should not be construed as an endorsement of the wealth manager by Five Star Professional or any clients of the wealth manager.
- Five Star Professional defines a “favorable regulatory 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 and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process; 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, or filed for personal bankruptcy within the past eleven years, or been convicted of a felony.
- For more information on the Five Star award and the research/selection methodology, go to www.fivestarprofessional.com.