Banking & Finance

Investment firms rank among Barron's 'Top 50'

September 27, 2019
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Three financial planning firms with West Michigan offices have been named among the "top 50" independent registered investment advisory firms in the nation by Barron’s.

The investment-focused publication owned by Dow Jones & Company, a division of News Corp., named Edelman Financial Engines, RMB Capital and Allworth Financial to its 2019 ranking of the “Top RIA Firms” in the nation.

The fourth-annual ranking was published this month.

Sunnyvale, California-based Edelman Financial Engines, which has locations in Grand Rapids, Kalamazoo and Battle Creek, ranks No. 1.

Chicago-based RMB Capital, which has a St. Joseph office, ranks 29th.

Sacramento-based Allworth Financial, which has a location in Grandville, ranks 34th.

Methodology

According to Barron’s, firms were ranked by qualitative and quantitative components, including assets under management, the size and experience of their advisory teams and the regulatory records of the firms and their advisers.

The ranking is up to 50 spots in 2019 — from 40 in 2018 and 30 in 2017 — because “the independent advisory business is simultaneously growing and consolidating,” Barron’s says.

Barron’s introduced its RIA firm ranking in 2016 in response to industry trends, including investor demands for a fiduciary standard of care, the rigorous and complex regulatory environment and the increasing need for cutting-edge technology.

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