Best-In-State Wealth Management Teams 2024

EDITED BY SERGEI KLEBNIKOV AND 
SHOOK RESEARCH
JANUARY 09, 2024, 10:00 AM
  • The Standard & Poors 500 Index finished 2023 up more than 24% thanks largely to the strong performance of a handful of technology mega-caps including Apple, Microsoft, Meta and Nvidia. With inflation finally slowing and a soft economic landing now looking far more likely than a recession, wealth advisory teams are still hunting for opportunities and putting client capital to work, though most remain cautious. The second annual Forbes/SHOOK Best-In-State Wealth Management Teams list features more than 4,100 teams with cumulative assets of $5.1 trillion. Forbes’ list was compiled by SHOOK Research, which uses quantitative and qualitative data, including interviews, to rank teams.
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The Highlights

Data provided by SHOOK ® Research, LLC – Data as of 3/31/23. Forbes Best-in-State Wealth Management Teams ranking was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team’s best practices, 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. SHOOK’s research and rankings provide opinions intended to help investors choose the right financial advisor and team, and are not indicative of future performance or representative of any one client’s experience. Past performance is not an indication of future results. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. For more information, please see www.SHOOKresearch.com. SHOOK is a registered trademark of SHOOK Research, LLC.

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