We’re proud to announce that Forbes has named Mark Smith to the magazine’s list of America’s Top Wealth Advisors for the second year in a row. According to Forbes, members of its Top Wealth Advisor list collectively manage $672 billion in client assets, while serving a client base that ranges from wealthy heirs and small business owners to billionaire tech CEOs. Mark ranked 111th of 250 advisors on the list this year, which grew from 200 in 2016. Many of the advisors on this year’s list hail from the East or West Coast, so we were pleased to learn that Mark was one of just three Colorado advisors to make the list.
Forbes received nearly 20,000 nominations this year. From there, its research firm, R.J. Shook, invited 4,500 nominees to complete an online survey. Shook also interviewed 4,432 advisors by phone, and made 923 in-person visits before narrowing the field. To be considered for the Top Wealth Advisor list, advisors need at least seven years of experience, an acceptable compliance record, and generate more than half of all revenue from individuals. Shook then uses an algorithm of qualitative criteria to evaluate each advisor. The research company receives its funding from conferences, publications and research partners, and does not receive compensation from the advisors it ranks.*
In characterizing its list of top advisors this year, Forbes stated that the “name of the game” is the personal touch, and that advisors who ranked this year specialize in a high-touch, holistic approach in helping to manage all aspects of a client’s life. Those of you who know Mark know how much he embodies this ideal, and how hard he works to educate our clients so they can be prepared to take control of their financial lives.
As the accolades (such as the ones he has received from Barron’s for the past 10 years) for Mark continue to come in, the rest of us at M.J. Smith & Associates are reminded of Mark’s example, and how much he has taught us about serving our clients. I hope you’ll join us in congratulating Mark for this well-deserved honor.
*The Forbes ranking of America's Top Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of seven years of experience. Ranking algorithm is based on quality of practice, including: telephone and in-person interviews, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC which does not receive compensation from the advisors or their firms in exchange for placement on the ranking. Research Summary (as of September 2017): 19,872 Advisor nominations were received, based on thresholds. 4,504 advisors were invited to complete the online survey. 4,432 advisors were interviewed by telephone. 923 advisors were interviewed in-person at the advisors' location. Final list of the top 250 Advisors was then compiled based upon the quantitative criteria. Raymond James is not affiliated with Forbes or Shook Research, LLC. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its financial advisors or RIA firms pay a fee in exchange for this award/rating.