In the following pages, we are republishing our Top 100 Independent Advisors list this month with some essential revisions to the prior list, which ran in August. Assembling this list is a complicated feat. This year, Registered Rep. teamed up with Discovery Database in an attempt to provide readers with a more comprehensive, objective and independent list of the advisors in the industry ranked by assets under management. (In the past we have relied solely on the firms to provide us with this information.)
Unfortunately, unlike, say, registered investment advisories (who file detailed Form ADVs with the SEC), registered reps don't have a central registration depository that discloses details about their books of business, or the assets they manage, that is accessible to the public — not even on the Form U-4. Put another way, when it comes to certain details about a Series 7 holder's business, the investing public can only learn it from you, the advisor. And, it came to our attention, that our August list was not as accurate as it could be; apparently, there were too many FAs who didn't respond to our survey. So, we hit the phones again, and have updated the list this month with the help of independent b/d firms, which verified the accuracy of the asset numbers estimated by Discovery's proprietary technology. (Discovery, based across the river from us in New Jersey, has sophisticated technology that it uses to “crawl” through SEC, FINRA, state and many other data sources to create AUM estimates.)
Each of the advisors on our Top 100 Independent Advisors list has his own story, of course, and this list only hints at that. Perusing the list, you will notice the FAs are affiliated with a wide range of broker/dealers, operate under different business models, have distinct business specialties, work all across America and, of course, they have their own unique styles of managing their millions (sometimes billions) in client assets. It is our intention to get to know these firms over the coming year and to bring their unique stories to you in a more full way. Please feel free to contact the reporters at Registered Rep. if you are interested in telling your story.
| Name | Firm | City | AUM (in millions) | Yrs in the Biz | Business Description/Speciality | |
|---|---|---|---|---|---|---|
| 1. | Ronald Carson | Carson Wealth Management Group (LPL Financial) | Omaha, NE | $2,000 | 31 | Investment management, retirement planning, estate and tax planning services. |
| 2. | John Hyland | Morristown Financial Group (LPL Financial) | Morristown, NJ | $1,800 | 19 | Investment management, retirement planning, corporate pension/401(k) plans. |
| 3. | Christopher Sorce | HBK Sorce Financial (Purshe Kaplan Sterling Investments) | Erie, PA | $1,400 | 14 | Independent, personal financial planning and investment advisory firm. |
| 3. | William (Mike) Robertson | Robertson & Associates (First Allied) | Houston, TX | $1,400 | 33 | Managed money, estate planning and investment banking for HNW and UHNW. |
| 5. | Matthew Delaney | Wharton Business Group (FSC Securities) | Exton, PA | $1,300 | 16 | Independent consultant to business owners, endowments, foundations and hospitals. |
| 6. | Bradley and Cleves Delp | The Delp Company (LPL Financial) | Maumee, OH | $1,000 | 15 | Ultra-HNW investment advisory, estate planning and risk management. |
| 7. | Susan Kaplan | Kaplan Financial Services (LPL Financial) | Newton Lower Falls, MA | $750 | 26 | Asset management and comprehensive financial planning. |
| 8. | John Darrah | Honkamp Krueger Financial Services (ProEquities) | Dubuque, IA | $742 | 28 | CPA advising personal financial and wealth management firms. |
| 9. | Earl Winthrop | LPL Financial | Avon, CT | $705 | 24 | Independent comprehensive wealth management services. |
| 10. | Brett N. Karras | The Karras Company (Raymond James Financial Services) | Roy, UT | $685 | 16 | Comprehensive wealth management. |
| 11. | William Garbarino | Lincoln Financial Advisors | Danbury, CT | $650 | 24 | Retail clients, corporate executives, financial and estate planning. |
| 11. | Gerard Klingman | Klingman & Associates (Raymond James Financial Services) | New York, NY | $650 | 26 | Wealth management. |
| 11. | James Bashaw | James E. Bashaw and Co. (LPL Financial) | Houston, TX | $650 | 25 | Holistic private wealth advisory for families, small businesses and non-profit organizations. |
| 11. | Van Pearcy | Van Pearcy's Wealth Services Team | Midland, TX | $650 | 22 | Wealth management and estate/asset protection. |
| 15. | Thomas Gau | Retirement Planning Specialists (SagePoint Financial) | Ashland, OR | $640 | 25 | Specialize in individuals who are retired or are about to retire. |
| 16. | Malcolm Makin | Professional Planning Group (Raymond James Financial Services) | Westerly, RI | $605 | 32 | Full service, comprehensive wealth management for individuals and endowments. |
| 17. | Lee Rosenberg | ARS Financial Services (Cadaret, Grant) | Jericho, NY | $555 | 35 | Personal financial planning, written financial plans, estate and retirement planning. |
| 18. | Randolph Carver | Carver Financial Services (Raymond James Financial Services) | Mentor, OH | $550 | 22 | Comprehensive customized wealth management for individuals, corporations and institutions. |
| 18. | Garrett Ahrens | Ahrens Investment Partners (LPL Financial) | Lafayette, LA | $550 | 20 | Financial asset allocation. |
| 20. | Sally Law | Law & Assosciates (Raymond James Financial Services) | Glen Echo, MD | $535 | 36 | Wealth management and financial planning. |
| 21. | Salvador (Sal) Flores Jr. | Flores Capital Management (Raymond James Financial Services) | Chandler, AZ | $520 | 29 | Superior financial service with a commitment to excellence and integrity. |
| 22. | Laila Marshall-Pence | Pence Wealth Management (LPL Financial) | Newport Beach, CA | $500 | 29 | Full spectrum financial planning and wealth management for individual investors. |
| 22. | Larry Carroll | Carroll Financial (Financial Network Investment Corporation) | Charlotte, NC | $500 | 29 | Retirement planning, fee-based asset management. |
| 22. | Ronald Weiner | RDM Financial Group (RDM Investment Services) | Westport, CT | $500 | 20 | Investment strategy and diversified investment advisory. |
| 22. | David Borden | Borden CCR Wealth Management (Multi-Financial Securities Corporation) | Westborough, MA | $500 | 13 | Wealth management services for HNW individuals and business owners. |
| 26. | Bruce Johnson | CapTrust Financial Advisors (Wells Fargo Advisors Financial Network) | Holland, MI | $470 | 27 | Investment consulting. |
| 27. | Debra Brede | D.K. Brede Investment Management. Company (Commonwealth) | Needham, MA | $454 | 28 | Wealth management for HNW clients and business owners. |
| 28. | Meg Green | Meg Green & Associates (Royal Alliance) | Miami, FL | $450 | 29 | Financial planning, investment management and tax-sensitive portfolios for HNW investors. |
| 29. | Steven Stocker | Investment Partners (Commonwealth Financial Network) | New Philadelphia, OH | $445 | 19 | Wealth management for HNW and mass affluent, portfolio management for retirement plans, corporations, family trusts, endowments, foundations. |
| 30. | Don Campagna | Personal Portfolio Management (Raymond James Financial Services) | Boca Raton, FL | $444 | 27 | RIA, comprehensive financial planning, asset allocation, high net worht individuals, businesses. |
| 31. | Roy Williams | Prestige Wealth Management (LPL Financial) | Pennington, NJ | $441 | 27 | Comprehensive wealth management, providing customized planning solutions to HNW indivduals. |
| 32. | Mark Smith | M J Smith and Associates (Raymond James Financial Services) | Englewood, CO | $420 | 26 | Wealth management and retirement planning. Fee-based asset management services with a comprehensive financial planning approach, including tax planning. |
| 33. | Edward (Jeff) Sella | SPC Financial Services (Raymond James Financial Services) | Rockville, MD | $403 | 28 | Estate and tax planning, financial planning for unmarried couples and couples entering a second marriage. |
| 34. | Bradley Orvieto | Strategic Asset Management Group Advisors (Mutual Service Corporation) | Fort Lauderdale, FL | $400 | 29 | Wealth management for HNW and non-profits. |
| 34. | Robert Oden | Mutual Service Corporation | Fort Lauderdale, FL | $400 | 27 | Fee-based wealth management. |
| 34. | David McNamara | VSR Financial Services | West Des Moines, IA | $400 | 25 | N/A |
| 34. | Herbert Gilbert | Gilbert Advanced Asset Mangement (LPL Financial) | Johnson City, TN | $400 | 21 | Advanced asset managemt for retirees and pre-retirees. |
| 34. | George Dorvillier | LPL Financial | La Jolla, CA | $400 | 23 | Helping clients reach financial independence. |
| 34. | J. David Tanner | Tanner Capital Management (Raymond James Financial Services) | Provo, UT | $400 | 22 | HNW entrepreneurs who are selling businesses, with special emphasis on charitable strategies. |
| 40. | David Millican | Atlanta Capital Group (LPL Financial) | Atlanta, GA | $385 | 14 | Boutique wealth management focusing on HNW families. |
| 41. | Steven Booren | Capital Consulting (LPL Financial) | Englewood, CO | $375 | 31 | Unbiased, independent investment advice. |
| 42. | John Lynch | Lynch Retirement Investment Group (Wells Fargo Advisors Financial Network) | Fulton, MD | $372 | 23 | Retirement planning. |
| 43. | Lee Rosenberg | ARS Financial Services (Cadaret, Grant) | Jericho, NY | $371 | 26 | Comprehensive financial planning for HNW clients. |
| 44. | Mark Cortazzo | MACRO Consulting Group (SII Investments) | Parsippany, NJ | $360 | 21 | Full service, independent financial advisory firm, specializing in retirement income planning. |
| 45. | Trudy Haussmann | Haussmann Financial (Securities America) | Newport Beach, CA | $356 | 23 | Boutique financial planning firm, specializing in retirement for Fortune 500 employees. |
| 46. | David Daniel | Summit Financial (Wells Fargo Advisors Financial Network) | Lafayette, LA | $354 | 32 | Discretionary fee-based advice. |
| 47. | Kalita Bleck Blessing | Quest Capital Management (Raymond James Financial Services) | Dallas, TX | $352 | 17 | Financial planning. |
| 48. | Kerrick Bubb | KWB & Associates (LPL Financial) | Redlands, CA | $351 | 22 | Comprehensive wealth management with an emphasis on retirement and estate planning. |
| 49. | Barbara Hudock | Hudock Moyer Wealth Management (Wells Fargo Advisors Financial Network) | Williamsport, PA | $350 | 34 | Investment consulting. |
| 49. | Nadim Joseph Nahas | NWK Group (First Allied) | San Francisco, CA | $350 | 16 | Retirement plan consulting and wealth management. |
| 49. | James Cox | Harris Financial Group (LPL Financial) | Colonial Heights, VA | $350 | 13 | Retirement planning. |
| 49. | James McKee | Berthel, Fisher & Company Financial Services | Eugene, OR | $350 | 12 | Income investing for retirement, with a client asset minimum of $1.5 million. |
| 53. | Steven Novick | LPL Financial | New Canaan, CT | $340 | 14 | N/A |
| 54. | Janice Hobbs | JanHobbs Financial Group (LPL Financial) | Orange, CA | $338 | 25 | Financial planning and wealth management. |
| 54. | Carole Ford | Ford Financial Group (LPL Financial) | Fresno, CA | $338 | 26 | Independent fee-based investment management and financial planning for HNW individuals and families. |
| 56. | Charles Morris | Raymond James Financial Services | Baton Rouge, LA | $322 | 26 | Financial planning. |
| 57. | Deborah Danielson | Danielson Financial Group (LPL Financial) | Las Vegas, NV | $310 | 28 | Financial planning, investment management and tax-sensitive portfolios for HNW investors. |
| 58. | Stephan Cassaday | Cassaday & Company (Royal Alliance) | Mc Lean, VA | $307 | 32 | Financial planning and investment management for HNW individuals and small businesses. |
| 58. | Barry Glassman | Cassaday & Company (Royal Alliance) | Mc Lean, VA | $307 | 14 | Comprehensive wealth management for HNW families. |
| 60. | Stephen Johnson | Raymond James Financial Services | Draper, UT | $301 | 30 | Wealth management for retail clients, ERISA plans |
| 61. | Dale Cebert | Cebert Wealth Management Group (National Planning Corporation) | The Villages, FL | $300 | 27 | Retirement income planning specialists. |
| 61. | Michael Steranka | Retirement Planning Services (Broker Dealer Financial Services) | Millersville, MD | $300 | 15 | Income planning, investment planning, tax planning, education planning. |
| 63. | Michael Hines | Consolidated Planning Corporation (Raymond James Financial Services) | Atlanta, GA | $293 | 43 | Financial planning for retirees, doctors, lawyers, dentists and educators; intergenerational planning. |
| 64. | Thomas Hamlin | Hamlin Financial and Insurance Services (Raymond James Financial Services) | Portland, OR | $292 | 19 | Pre-retirees and retirees, inflation hedging. |
| 65. | John Moore | Raymond James Financial Services | Albuquerque, NM | $283 | 11 | Financial planning. |
| 66. | Robert Kantor | XML Financial Group (LPL Financial) | Rockville. MD | $280 | 46 | Financial planning. |
| 67. | Todd Sanford | Sanford Financial Services (Raymond James Financial Services) | Portage, MI | $270 | 26 | Multi-specialty firm for educators, small-business owners and employees of major corporations with a local presence. |
| 68. | Sheryl Stephens | Stephens Wealth Management (Raymond James Financial Services) | Flint, MI | $262 | 34 | Fee-based consulting, including asset mgt., estate planning, retirement planning, tax planning, philanthropy and insurance solutions for HNW clients, professionals and business owners. |
| 69. | Robert Valente | RAV Financial Services (Sigma Financial Corporation) | Beachwood, OH | $260 | 37 | Customized wealth management, including asset management, financial and estate planning. |
| 70. | Robert Wamhoff | Wamhoff Financial Planning (VSR Financial Services) | Hazelwood, MO | $255 | 19 | Financial planning, tax planning and charitable planning. |
| 71. | Carl Stuart | Raymond James Financial Services | Austin, TX | $250 | 11 | Investment management, risk management and estate planning. |
| 71. | Roger Green | Green Financial Resources (Multi-Financial Securities) | Duluth, GA | $250 | 21 | Financial planning, advisory and wealth management. |
| 73. | Judith Mcgee | McGee Financial Strategies (Raymond James Financial Services) | Portland, OR | $247 | 34 | Wealth management, financial planning, retirement planning, estate and trust planning for the well-educated, professional client. |
| 74. | Karen Hansen | Woodbury Financial Services | Anchorage, AK | $245 | 20 | Strong acumen for building businesses and creating wealth for clients in all walks of life. |
| 75. | Nadine Wilkes | Weinstein Wilkes Financial Group (Raymond James Financial Services) | Ft. Myers, FL | $236 | 26 | Comprehensive financial planning for HNW clients. |
| 75. | Paul Weinstein | Weintsein Wilkes Financial Group (Raymond James Financial Services) | Fy. Myers, FL | $236 | 26 | HNW clients. |
| 77. | Bennett Marks | Marks Group Wealth Management (LPL Financial) | Hopkins, MN | $235 | 27 | Provide HNW clients with personalized service and investment decisions on a local level. |
| 78. | Richard H. Wagener | Wagener-Lee Wealth Advisors (Raymond James Financial Services) | Columbia, MD | $233 | 34 | Comprehensive wealth management, portfolio management, retirement, tax and estate planning for corporate executives, professionals and retirees. |
| 79. | Kathleen Muldoon | Carter Financial Management (Raymond James Financial Services) | Dallas, TX | $231 | 29 | Financial planning. |
| 80. | Dudley Barnes | Barnes-Petty Financial Advisors (Raymond James Financial Services) | Clarksdale, MS | $230 | 34 | Comprehensive financial planning in rural America. |
| 80. | Carol Rogers | Rogers & Company Wealth Management (LPL Financial) | Saint Louis, MO | $230 | 33 | Certified Private Wealth Manager providing comprehensive planning and wealth management solutions to HNW families and individuals. |
| 82. | Wayne Schluchter | First Allied Securities | Saint Cloud, MN | $227 | 12 | Comprehensive wealth management services with a focus on cash flow and risk management. |
| 83. | Daniel Gavin | Gavin & Associates (Raymond James Financial Services) | Midland, MI | $225 | 37 | Financial planning, investment management for mid/upper level management. |
| 83. | Michael McNamara | McNamara Financial Services (Commonwealth) | Marshfield, MA | $225 | 29 | Retail financial consulting and wealth management practice. |
| 83. | Kevin VanDyke | Bloomfield Hills Financial (SII Investments) | Bloomfield Hills, MI | $225 | 13 | Retirement planning specialist with a focus on automotive industry retirees. |
| 86. | David Workman | LPL Financial | Logansport, IN | $223 | 22 | Managing retirement plans. |
| 87. | John Dardis | Jack Dardis & Associates (Next Financial Group) | Metairie, LA | $215 | 29 | N/A |
| 88. | Patricia Meidell | American Retirement Planners (Associated Securities) | Reno, NV | $213 | 36 | Providing financial advice and individualized solutions with the goal of enabling our clients to attain their lifetime goals and aspirations. |
| 89. | Daniel Boyce | Center for Financial Planning (Raymond James Financial Services) | Southfield, MI | $210 | 27 | Wealth management for HNW individuals. |
| 89. | Stephen Wedel | Four Seasons Wealth Management (LPL Financial) | Saint Louis, MO | $210 | 26 | Holistic fee-based financial planning with an emphasis on retirement planning and capital preservation for executives, business owners and HNW individuals. |
| 89. | Russell Cesari | Northwest Financial (LPL Financial) | Herndon, VA | $210 | 10 | Wealth management and comprehensive financial planning. |
| 92. | Mark Brown | Brown & Tedstrom (LPL Financial) | Denver, CO | $205 | 26 | Comprehensive wealth management for successful entrepreneurs and business owners. |
| 93. | Marilyn Gunther | Center for Financial Planning (Raymond James Financial Services) | Southfield, MI | $203 | 25 | Comprehensive financial planning for moderately HNW clients. Specializations in retirement planning and planning for physicians. |
| 94. | Ken Stern | Ken Stern & Associates (First Allied Securities) | San Diego, CA | $200 | 20 | Uncompromised family wealth planning/investment management; integrating investment strategies with creative estate and legacy planning. |
| 94. | Richard Basler | Raymond James Financial Services | Saint Louis, MO | $200 | 39 | Comprehensive investment management. |
| 94. | Holmes Pettey | Barnes-Pettey (Raymond James Financial Services) | Clarksdale, MS | $200 | 24 | Helping clients manage their money. |
| 94. | Robby Harfst | Harfst & Associates (Raymond James Financial Services) | Ashland, OR | $200 | 17 | Financial advisory for individuals and small businesses. |
| 94. | David Armstrong | Monument Wealth Management (LPL Financial) | Alexandria, VA | $200 | 10 | Full-service financial planning and discretionary asset management using ETFs and individual securities. |
| 99. | Wayne Von Borstel | Von Borstel & Associates (LPL Financial) | The Dalles, OR | $197 | 24 | Wealth management. |
| 100. | Lori Price | Price Financial Group (Securities America) | Wilton, CT | $195 | 21 | Providing unparalleled client service and education. |
| 100. | Joe Sgroi | Sgroi Financial (Cadaret, Grant) | West Seneca, NY | $195 | 37 | Specialize in tax sheltered annuity marketplace, particularly school systems and non-profit organizations. |
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