"The Financial Services Institute (FSI) was founded in 2004 with a clear mission: to ensure that all individuals have access to competent and affordable financial advice, products and services delivered by a growing network of independent financial advisors and independent financial services firms."
The Five Star Wealth Manager award administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria:
1) Credentialed as an investment advisory representative (IAR) or a registered investment advisor; 2) Actively employed as a credentialed professional in the financial services industry for a minimum of five years; 3) Favorable regulatory and complaint history review; 4) Fulfilled their firm review based on internal firm standards; 5) Accepting new clients; 6) One-year client retention rate; 7) Five-year client retention rate; 8) Non-institutionalized discretionary and/or non-discretionary client assets administered; 9) Number of client households served; 10) Educational and professional designations.
Wealth managers do not pay a fee to be considered or awarded.
Once awarded, wealth managers may opt to purchase additional profile ad space or related award promotional products. The award methodology does not evaluate the quality of services provided. The award is not indicative of the award winner's future performance. 3,958 Houston wealth managers were considered for the award; 418 (approximately 11 percent of the award candidates) were named Five Star Wealth Managers.
To qualify as having a favorable regulatory and complaint history for this award, the person cannot have (1) been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine, (2) had more than a total of three customer complaints filed against them (settled or pending) with any regulatory authority or Five Star Professional's consumer complaint process, (3) individually contributed to a financial settlement of a customer complaint filed with a regulatory authority, (4) filed for bankruptcy, or (5) been convicted of a felony.
Esteemed recipients of this award represent less than 3 percent of the wealth managers in the Houston region. Candidates of the Five Star Wealth Manager Award were considered against a number of eligibility and evaluation criteria. Some examples inclued five year client retention rate, credentialed as an Investment Advisory Representative (IAR), educational and professional designations, and favorable regulatory and complaint history review. Aaron's achievement was featured in Texas Monthly. You can see the Texas Monthly feature and more information on the eligibility and evaluation criteria by visiting our "Featured Links" page and clicking on the "2013 Five Star Wealth Manager Award" link.
Million Dollar Round Table Mission Statement:
“To be a valued, member-driven, international network of leading insurance and investment financial services professionals/advisors who serve their clients by exemplary performance and the highest standards of ethics, knowledge, service and productivity.”