Madison Receives Industry Recognition by USA Today
Madison has good news to share! Madison Wealth Management has been named on USA Today’s list of Best Financial Advisory Firms 2023. This prestigious award is presented by USA Today and Statista Inc., the world-leading statistics portal and industry ranking provider.
It is estimated that at the end of 2021, there were more than 32,000 RIA firms in the United States. We are proud to stand apart. In a recent article, USA Today Stated:
“The list is based on the belief, espoused by many financial experts, that the best place to start is with registered investment advisers (RIAs). These are companies that have a fiduciary duty to act in their clients’ best interests at all times. They charge fees rather than sales commissions and employ investment adviser representatives (IARs) who are licensed to give financial advice.
Other types of financial firms, such as broker-dealers, earn commissions from selling you products – such as stocks, bonds or mutual funds – and only have to provide advice that’s suitable for their clients. That means the investments they recommend should not be inappropriate, but they don’t necessarily have to meet the client’s objectives. A broker-dealer can, for example, recommend investment products that could potentially be more expensive than competing products, allowing the person to earn a fee.”
Madison is deeply grateful to its clients and team members, as our success is a reflection of you. We are passionate about our mission. One of our main priorities is to form long-lasting relationships with our clients and team members, where we build upon a foundation of understanding, trust, communication, and mutual respect.
Disclosure: The awards mentioned above should not be construed as a guarantee that a client or prospective client will experience a certain level of results if Madison is engaged, or continues to be engaged; nor should they be construed as a current or past endorsement of Madison or any of its representatives by any of its clients. Investment performance is not a criterion for any of the above listed awards. Neither Madison nor any of its employees pay a fee in exchange for inclusion of the awards. For more information on these awards and their methodology, please visit our website at https://www.madisonadvisors.com/important-disclosure-information/
USA Today – Best Financial Advisory Firms 2023: For the first time, USA TODAY and Statista are awarding the “Best Financial Advisory Firms” in the US. The ranking of the best registered investment advisory firms (“RIA Firms”) is based on two dimensions: recommendations by clients and peers and a firm’s growth of Assets under Management (AUM). The recommendations were collected via an independent survey sent to over 20,000 individuals. While clients were able to evaluate and recommend their RIA firm, financial advisors working for an RIA firm were asked to consider a scenario where their own firm could not take on a client and had to recommend another RIA firm they appreciate. The development of AUM was analyzed both, short and long term based on publicly available data. For the short term view , the growth of AUM over a twelve months period was calculated, from January 2022 to January 2023. For the long term view , the growth of AUM over a five year period was calculated, from 2018 2023. In the consideration for the top 500 RIA firms, recommendations had a weight of 20% while development of AUM had a weight of 80% (short term and long term growth were equally weighted) to derive the final score.
