tSOUTHFIELD — Plante Moran Financial Advisors was recently recognized by Forbes in its annual list, “The Top 50 Wealth Managers,” improving its ranking from the previous year.
tThis year, PMFA placed at No. 5 on the list, up from No. 9 — with 19 percent growth in assets under management from the previous year — showing that amidst the rapid growth in the wealth management world, PMFA has outpaced many of the top competitors in the industry, Plante Moran officials said.
t“We are thrilled to have placed so high on Forbes’ list of the top wealth managers," said John Lesser, PMFA president. "We strive to give the best financial guidance to our clients and deliver excellent service, so this recognition from one of the leading business publications means a lot to us. Our goal is to always put our clients’ interests first.”
tThis year’s Forbes Top 50 Wealth Managers oversee a combined $224 billion in assets, which is roughly 15 percent of the entire RIA market. The list reflects that this segment of the industry continues to grow as a result of the demand for financial advice and, specifically, the shift to fee-based and fee-only investment advice. With the rising changes of the registered investment advisor world, Forbes worked closely with the RIA Database this year to make adjustments to its methodology. Together, they worked to identify the most relevant ranking criteria.