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In a divergent financial landscape, the Top Advisors of 2024 have emerged as dynamic performers, providing clients with trusted advice, innovative investment options, and value-added services.
“Having that commitment of being brilliant at the basics and continuing to earn client trust every day is what separates a good advisor from a great advisor,” says winner David Pickler, president and CEO at Pickler Wealth Advisors.
Fellow winner Ann Covington, founder of CovingtonAlsina, adds, “It’s about guidance and being there for your client’s entire financial life. I think the advisors who are doing that are the ones seeing a lot of success.”
The winning cohort set themselves apart through their commitment to:
transparency
communication
education
personalization
Key metrics used to determine the top performers was overall AUM, as well as percentage changes in AUM and number of clients between 2022 and 2023.
AUM increase: 47 percent
Client increase: 9 percent
Overall rank: 7
The youngest ever president of Georgia’s Financial Planning Association chapter, Barber has long been an advocate of financial education.
A partner at SignatureFD, located in Atlanta, Barber ensures advisors specialize in career-based market segments, allowing clients to obtain personalized advice.
“The clients I work with are small business owners and entrepreneurs whose needs are different than a corporate executive, or somebody that’s younger and starting to save. While 60 percent of what we do for clients is applicable across the board, 40 percent is mostly applicable to the certain segments that we work with.”
SignatureFD’s client communities include:
executives
entrepreneurs
professional athletes
health professionals
legal professionals
veterinarians
“If somebody that works mostly with executives is trying to talk to an entrepreneur, they’re not going to know the questions to ask around ownership structure and growth,” says Barber.
The specialization leads to a better client experience, which has positive knock-on effects. Over the last several years, the firm’s retention rate has remained steady at 97 percent with an impressive AUM of $7 billion.
No matter which market segment a client falls into, for Barber, being a leading financial advisor requires a strong listening ear.
“What makes a good advisor is being able to peel the onion back and ask good questions to get to the root of the issue. You don’t need to prove to your clients how smart you are. You need to be able to relate to them and let them know that you’re on the same side of the table as them and looking out for their best interest.”
AUM increase: 15 percent
Client increase: 12 percent
Overall rank: 4
Establishing his practice in 1991, the Michigan-based advisor has maintained a steadfast dedication to providing transparency.
For Zhang, a key part of this involves his fee-only approach. Not bound by the constraints of proprietary products, revenue sharing or commissions, he offers clients the best the market has to offer.
“Our fee-only approach allows us to act as a true fiduciary for our clients. We are free from conflicts of interest and take care of our clients, which makes them our main marketing source. Most of our new business comes from current client referrals.”
Ranked as America’s number one independent financial advisor by Barron’s in 2023, Zhang’s other accolades include:
Forbes magazine’s number one advisor in Michigan for 2023
Barron’s number one advisor in Michigan for the past 11 years
“My approach is one of transparency, objective evidence-based investment research and competitive pricing. My philosophy is aimed at providing the highest probability of success for my clients,” he explains.
In remaining loyal to his customers, Zhang has seen unprecedented business growth and even recorded a 99 percent satisfaction rating.
AUM increase: 27 percent
Client increase: 9 percent
Overall rank: 18
Twice named among the top 1,000 financial advisors in the US, the Tennessee-based wealth advisor is a communications expert.
“We develop action steps for all our clients – that’s where a lot of firms stop, but that’s where we get started. We have a very disciplined process of ongoing monitoring and review. We’re meeting with clients two, three, or four times a year,” says the CEO.
Pickler’s robust communications include weekly output:
BullCast: A podcast breaking personal finance into bite-sized topics
BullTalk: A market call and client Q+A delivering a look into recent economic trends and market conditions
“When COVID hit, we realized there was a fear of uncertainty. So, we changed our quarterly call to a weekly call. I've been doing it every Thursday afternoon for four years. Giving clients the ability to call in and ask questions gives them that peace of mind.”
When things are going well in the market, Pickler realizes clients might need him less, but that doesn’t mean his communication becomes less frequent. He also places value on delivering engaging content.
With podcast episodes analyzing the economic impact of Taylor Swift’s Eras Tour and deep dives into wealth management through the lens of popular TV shows like Succession, Pickler masterfully aligns his brand with popular culture.
Listed as one of the fastest-growing private companies in America over the past five years, Pickler’s firm has been thriving.
“We always tell people, we’re not Wall Street, we’re Main Street. We’re Mom-and-Pop America. We build relationships with our clients that are deep and rich. That’s why for 30 years, 100 percent of our business has really been driven by referrals.”
AUM increase: 50 percent
Client increase: 21 percent
Overall rank: 41
Established in 2012 and dedicated to providing successful women with financial guidance, the Annapolis firm was built on a foundation of approachability and education.
“Traditionally, women have deferred finances. They may pay the bills, but investments have typically fallen to men,” says founder Covington. “It’s shifting as more women start to take the lead, but some women tend to beat themselves up for not knowing more.”
As part of her efforts to create products aimed at women, Covington offers:
Women, Wine, and Wisdom: monthly client-focused webinars providing information on topics ranging from Roth IRAs to the S&P 500
Monday Money Report: a weekly podcast and blog on recent market occurrences
PursePower: a coaching package to promote financial literacy with educational events, financial coaching emails, and monthly coaching calls to help clients stay on top of their financial goals
“When I work with female clients, I tell them, ‘Knowing what I know is a full-time job.’ I make sure they know that they don’t have to know everything when they come in to see us. Our job is to educate them and teach them.”
Accordingly, while maintaining a 99 percent client retention rate, the firm has received the University of Florida’s Gator100 award for two years running, recognizing the world’s fastest-growing businesses owned or led by alumni.
To compile the inaugural Top Advisors list, InvestmentNews first solicited nominations from advisors, industry professionals, and clients. Only advisors nominated were eligible for the list. All information on the nominees had to be verified by their compliance team before it could be accepted.
The final list was determined based on each advisor’s weighted ranking in overall AUM, AUM growth, and client growth (both between September 2022 and September 2023). The InvestmentNews team then tabulated a ranking for each advisor in each category and combined those scores to determine the advisor’s final ranking on the 2024 Top Advisors list.
