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Best-in-State Wealth Advisors, America's Top Wealth Advisors, and Top Next-Gen Wealth Advisors

Best-in-State Wealth Advisors (2019)

American business magazine, Forbes, ranked Savant CEO and Financial Advisor Brent Brodeski and Financial Advisor Jakob Loescher in its 2019 list of Best-in-State Wealth Advisors. The ranking includes 84 Illinois-based wealth management advisors, outside of Chicago, naming Brodeski #2 and Loescher #38.

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Advisors do not pay a fee for placement on Forbes Top Advisor rankings, which are independently determined by SHOOK Research.

The 2019 Best-in-State Wealth Advisors list includes 3,000 advisors across the country who were nominated by their firms. Each advisor was nominated by their respective firm, then vetted and ranked by SHOOK Research.

Each advisor—selected by SHOOK Research—is chosen based on an algorithm of qualitative and quantitative criteria. SHOOK scours the financial services industry (banks, brokerages, custodians, insurance companies, clearing houses and others) for nominations. SHOOK accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records. SHOOK received almost 30,000 nominations— advisors who meet SHOOK’s thresholds. SHOOK invited 5,961 of these nominees to complete an online survey. Unlike other advisor rankings, SHOOK is not a “robo-ranker”—numbers such as production and assets don’t tell the whole story, especially when much of the data is self-reported. SHOOK Research creates rankings of role models—advisors that are leading the way in offering best practices and providing a high-quality experience for clients. A focus on both quantitative and qualitative factors, including telephone and in-person meetings, is imperative. SHOOK Research is the only rating firm that interviews advisors via telephone and in person at advisor's location. Neither Forbes nor SHOOK receives a fee in exchange for rankings. SHOOK is completely independent and objective and does not receive compensation from the Advisors, Firms, the media, or any other source in exchange for placement on a ranking.

Basic Requirements

  • 7 years as an advisor
  • Minimum 1 year at current firm, with exceptions (acquisitions, etc.)
  • Advisor must be recommended, and nominated, by Firm
  • Completion of online survey
  • Over 50% of revenue/production must be with individuals
  • Acceptable compliance record

Quantitative Criteria

  • Revenue/production; weightings assigned for each
  • Assets under management—and quality of those assets—both custodied and a scrutinized look at assets held away. (Although individual numbers are used for ranking purposes, we publish the entire team's assets.)
  • Client-related data, such as retention
  • Portfolio performance is not a factor; audited returns among advisors are rare, and differing client objectives provide varying returns

Qualitative Criteria

  • Telephone and in-person meetings with advisors (if an in-person meeting cannot be accomplished, exceptions are considered in which the interview will occur after a ranking has been published)
  • Advisors that exhibit "best practices" within their practices and approach to working with clients
  • Compliance records & u4s. Some “dings” can be overlooked (e.g., firm or product failure beyond the scope of an advisor's due diligence; the older a ding, the less we look). Since there are many gray areas, the SHOOK team is willing to listen to a Firm that is willing to stand behind the advisor with written support from leadership
  • Advisors that provide a full client experience:
    • Service model
    • Investing process
    • Fee structure (higher % of fee-based assets earns more points)
    • Breadth of services, including extensive use of Firm’s platform and resources (eg, liabilities)
    • Credentials (years of service can serve as proxy)
    • Use of team & team dynamics
    • Community involvement
    • Discussions with management, peers, competing peers
    • Telephone and in-person meetings
  • U4/Compliance Issues. The following conditions will be considered in order to lessen weightings infractions:
    • Infractions that are denied or closed with no action
    • Complaint arose from a product, service or advice initiated by a previous advisor or another member or former member of team
    • Length of time since complaint
    • Complaints related to product failure not related to investment advice (some limited partnerships, adjusted-rate securities, etc.)
    • Complaints that have been settled (must be proven) to appease a client who remained with the advisor for at least one year following settlement date
    • Complaints that are proven to be meritless
    • Actions taken as a result of administrative error or failure by firm
    • Once an advisor's compliance rating falls into a tenable category, the following conditions must be met
    • An advisor's rating must be among SHOOK's highest qualitative measures including in-person interview
    • Letters of recommendation from firm

Ranking Algorithm

The algorithm is designed to fairly compare the business practices of a large group of advisors based on quantitative and qualitative elements. Data are weighted to ensure priorities are given to dynamics such as preferred “best practices”, business models, recent business activity, etc. Each variable is graded and represents a certain value for each measured component. These data are fed into an algorithm that measures thousands of advisors against each other.

America's Top Wealth Advisors (2019)

For the fourth straight year, American business magazine, Forbes, ranked Brent Brodeski in its list of America’s Top Wealth Advisors. Brodeski earned the No. 52 spot in the nation for 2019. More than 30,000 nominations were received, with 250 advisors chosen. The ranking, developed by SHOOK Research, includes advisors that are leading the way in offering best practices and providing a high-quality experience for clients from the financial services industry, including RIA firms like Savant, along with banks, brokerages, custodians, insurance companies, and others.

View the list

Advisors do not pay a fee for placement on Forbes Top Advisor rankings, which are independently determined by Shook Research. The 2019 Top Wealth Advisors list includes 250 advisors across the country who were nominated by their firms, then vetted and ranked by SHOOK Research. More than 30,000 nominations were received. 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 a ranking.

Each advisor—selected by SHOOK Research—is chosen based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receives a fee in exchange for rankings. SHOOK is completely independent and objective and does not receive compensation from the Advisors, Firms, the media, or any other source in exchange for placement on a ranking.

Basic Requirements

  • 7 years as an advisor
  • Minimum 1 year at current firm, with exceptions (acquisitions, etc.)
  • Advisor must be recommended, and nominated, by Firm
  • Completion of online survey
  • Over 50% of revenue/production must be with individuals
  • Acceptable compliance record

Qualitative Criteria

  • Telephone and in-person meetings with advisors (if an in-person meeting cannot be accomplished, exceptions are considered in which the interview will occur after a ranking has been published).

Quantitative Criteria

  • Revenue/production; weightings assigned for each
  • Assets under management—and quality of those assets—both custodied and a scrutinized look at assets held away. (Although individual numbers are used for ranking purposes, we publish the entire team's assets.)
  • Client-related data, such as retention
  • Portfolio performance is not a factor; audited returns among advisors are rare, and differing client objectives provide varying returns

Ranking Algorithm

The algorithm is designed to fairly compare the business practices of a large group of advisors based on quantitative and qualitative elements. Data are weighted to ensure priorities are given to dynamics such as preferred “best practices”, business models, recent business activity, etc. Each variable is graded and represents a certain value for each measured component. These data are fed into an algorithm that measures thousands of advisors against each other.

Top Next-Gen Wealth Advisors (2019)

Financial advisor Jakob Loescher was named to Forbes’ list of America’s Top Next-Gen Wealth Advisors for the third consecutive year. Loescher ranked #20 in the nation and #3 in Illinois. Each advisor on the list of America’s Top Next-Generation Wealth Advisors represents individuals born in 1980 or more recent. Advisors were chosen based on in-person interviews, industry experience, compliance records, revenue produces, assets under management and more.

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Each advisor on the list of America’s Top Next-Generation Wealth Advisors represents individuals born in 1980 or more recent. With more than 23,000 nominations received, 1,000 millennial advisors were chosen based on in-person interviews, industry experience, compliance records, revenue produces, assets under management and more.

"America's Top Next Generation Wealth Advisors" is an independent listing developed by SHOOK Research and published by Forbes. SHOOK considered advisors born in 1980 or later with a minimum 4 years relevant experience. Advisors have built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures derived from phone and in-person interviews and surveys: service models, investing process, client retention, industry experience, review of compliance records, firm nominations, etc.; and quantitative criteria, such as AUM and revenue generated for their firms. Investment performance is not a criteria because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC. Neither Forbes nor SHOOK receives a fee in exchange for rankings. SHOOK is completely independent and objective and does not receive compensation from the Advisors, Firms, the media, or any other source in exchange for placement on a ranking.

Award Criteria

Each advisor was nominated by their respective firm, then vetted and ranked by SHOOK Research. Each advisor—selected by SHOOK Research—is chosen based on an algorithm of qualitative and quantitative criteria, including: In-person interviews, Industry experience, Compliance records, Revenue produced & AUM. Ranking is based on an algorithm of qualitative and quantitative data, rating thousands of individuals with a min. of 4 years relevant experience and acceptable compliance records. Most important is their qualitative due diligence, which examines best practices—client service models, investing process, business types, leveraging a team and firm resources, etc.—learned through phone and in-person interviews. Also built into the model: experience levels, credentials and more. Overall, they look at quality of the practitioner and practice. Quantitatively, they weigh factors like revenue produced, AUM, compliance records and industry experience. For Type 1 Advisors, who have built their own practices, the numbers evaluated represent his or her team, or contribution if partners exist; for Type 2 Advisors on teams, they examine the team numbers and project how the Advisor could potentially fit on the team in the future. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. They don't want 200,000 nominations so they set high thresholds to minimize the quantity they accept: 29,334 nominations were received, based on thresholds; 10,681 individuals were invited to complete an online survey; 9,341 phone interviews; 1,925 in-person interviews at advisors’ location; 6,389 individuals considered for Millennials ranking, based on lofty thresholds.

Modeling the Algorithm

Because of the complexity of comparing the various paths these individuals have chosen, SHOOK developed 3 core algorithms to compare the disparate paths: individual practitioner, future team leader and hybrid. Still, because there are varying overlaps, to give each individual benefit, the model was constructed to rate each individual on each of these paths, with the highest of the scores given to each individual. It is this final score by which they constructed their ranking. 


Rankings and/or recognition by Forbes should not be construed by a client or prospective client as a guarantee that he/she will experience a certain levels of results if Savant is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Savant by any of its clients. Participation in these Forbes surveys was free and Savant did not pay a fee to be considered. After being recognized, Savant did purchase two plaques for $1,032.45 for “Top Next-Gen Wealth Advisors."