Today the Barron's ranking of the "Top 100 Financial Advisors" in the United States was published. Especially in today's market, when some of the smartest business people are looking for renewed guidance on the assets they have seen dwindle in the past year, making it onto this list is crucial. My rules for this list are as follows: PAY ATTENTION PEOPLE!
1. Isn't it interesting that "Merrill Lynch has the most financial advisers in the Top 1,000" when they've had some of the biggest defections in the past year?
http://www.investmentnews.com/
2. I remember last year, the team mentioned in the article above left Merrill to start their own firm. After continuing to do the same things they have done with their former parent firm on their own as an RIA, the two individuals who were tops on the list last year have somehow disappeared.
...I find it circumspect that the big wirehouses (the same now connected to the big banks) are the only ones that top these charts. The RIAs, those who have stayed out of the headlines and, in many cases, control much more in client assets, generate more in revenues, and run their practice more efficiently than their bretheren in the wirehouses- are devoid.
Pay to Play?
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