The annual ranking is based primarily on five components: 2021 year-end assets; percentage growth in assets from 2020-2021; average assets per client; percentage growth in assets per client; percentage change in number of clients.
Parsec managed $4.2 billion as of the end of 2021. Parsec saw a 23.29% annual growth in total assets, including a 15.55% growth in assets per client. In 2021, Parsec managed on average $2.16 million per client and grew its client base by 6.7%.
“We were thrilled with last year’s results,” said Parsec CEO Rick Manske. “It was the result of a trifecta of our investment strategy, the dedication and hard work across our firm’s employees, and strong market returns.”
FA’s RIA Ranking is an independent listing produced by Financial Advisor magazine. Firms must be registered investment advisors and provide financial planning and/or related services to individual clients. All firms must be either independently owned or a freestanding subsidiary of another business. Neither the RIA firms nor their employees pay a fee to Financial Advisor to be included in the listing. Data is provided by each firm, mostly from numbers and information published on forms they submit to the SEC. Each advisor is then ranked alongside their participating peers.
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About Parsec Financial: Parsec Financial is a fee-only registered investment advisor with $3.6 billion in assets under management as of June 30, 2022. Parsec provides investment management, financial planning, tax planning, trust services and business retirement services to 2,030 families and businesses in six offices across North Carolina.