Today marks the release of Financial Times’ 2nd annual Top Registered Investment Advisers (RIA) in America list. Members of the list are ranked based on Financial Times’ proprietary scoring methodology that considers AUM (assets under management), growth in AUM, age of firm, number of certifications held by staff members, SEC compliance report, and online accessibility.
We’re proud to share that Personal Capital has joined the top RIA club, ranking in Financial Times’ list. With 32,000 RIAs across the country, firms that place in Financial Times’ Top 300 are among the top 1% in America. The list honors RIAs that have at least $300 million in assets under management.
CEO, Bill Harris, commented:
“It is an honor to be recognized for our virtual financial advisory which pairs our proprietary revolutionary technology platform with dedicated financial advisors to help investors gain deeper insight into their financial lives and grow their net worth. It is Personal Capital’s mission to transform the wealth management industry by using technology to provide personalized financial advice to a broader audience of investors who would not have enough assets to interest traditional advisors, while at the same time providing the same level of white-glove service that ultra high net worth investors receive.”
But most importantly, what is the real value for consumers who use an RIA, such as Personal Capital, as opposed to working with a traditional broker? As an RIA, we abide by the fiduciary standard, meaning our financial recommendations must be made in our clients’ best interest. Unlike brokers, we do not receive commissions, incentives, or kickbacks by selling costly investment products to our clients.
As Bill Harris always says, “Many people call themselves advisors, but a true advisor is a “fiduciary” – someone who has a legal obligation to do what’s in the best interest of their customers, not of themselves.”
Want to check out the full list of RIAs in Financial Times’ Top 300 list? Click here to learn more.