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West Michigan financial advisors rank among Forbes' 'best in state'

April 27, 2018
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Rachel Mraz
Rachel Mraz. Courtesy Merrill Lynch

Thirteen West Michigan professionals have made it onto a new ranking of the top wealth advisors in the state.

Forbes published its inaugural “Best-in-State Wealth Advisors” ranking this winter, and 13 of Michigan’s 60 advisors in the ranking work on the state’s west side.

R.J. Shook, president of SHOOK Research, which developed the ranking, says in a Forbes article the ranking was created to shine a spotlight on the highest-quality professionals from each state.

“Our ‘Top Advisor’ and ‘Top Women Advisor’ rankings are published annually, but they don’t tell the whole story,” he says. “Most of the advisors are concentrated around the bigger markets, such as New York and San Francisco. We've uncovered great advisors in all markets — South Carolina, Oklahoma and other states with smaller concentrations of wealth.”

Methodology

The ranking is based on in-person and phone interviews to evaluate each advisor qualitatively.

The qualitative ranking algorithm includes client retention, industry experience, review of compliance records and firm nominations.

Quantitative criteria include assets under management and revenue generated for the advisor’s firm.

Forbes said investment performance is not evaluated, because client objectives and risk tolerances vary, and advisors rarely have audited performance reports.

West Michigan rankings

1.   Charles Zhang, Zhang Financial, Portage
9.   Todd Sanford, Sandford Financial Services of Raymond James, Portage
28. David Lund, Merrill Lynch Wealth Management, Grand Rapids
38. James Hemenway, Hemenway Wealth Management of Raymond James, Portage
40. Stephen Scholler, Wells Fargo Advisors, Grand Rapids
41. Michael Baer, Merrill Lynch Wealth Management, Portage
43. James Marosi, Wells Fargo Advisors, Grand Rapids
45. Jamie Williams, Williams Capital Management of Raymond James, Portage
46. Steve Ossewaarde, Wells Fargo Advisors, Portage
48. Brett Howell, Merrill Lynch Wealth Management, Grand Rapids
49. Craig Sharp, Merrill Lynch Wealth Management, Grand Rapids
52. Tom Anderton, Oppenheimer & Co., Kalamazoo
56. Rachel Mraz, Merrill Lynch Wealth Management, Grand Rapids

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