According to Forbes, “The inaugural Forbes/Shook Top RIA list has 100 advisory firms with cumulative assets of $730 billion. All are helmed by professionals who have decades of experience, not to mention proven track records of seeing clients through market turmoil.”
“We are honored and humbled to be included in Forbes’ inaugural list of top RIA firms,” said Parsec CEO Rick Manske. “The Parsec team supports one another to help our clients thrive. We have gratitude and appreciation for Forbes in recognizing our hard work.”
View the full list: forbes.com/lists/top-ria-firms/?sh=473eb6423cd5
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About Parsec Financial: Parsec Financial is a fee-only registered investment advisor with $3.4 billion in assets under management as of Sept. 30, 2022. Parsec provides investment management, financial planning, tax planning, trust services and business retirement services to more than 2,050 families and businesses in six offices across North Carolina.
“The Forbes ranking of America’s Top RIA Firms, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone, virtual and in-person due diligence interviews, and quantitative data. The algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings.”
“The algorithm is designed to fairly compare the business practices of a large group of firms based on quantitative and qualitative elements. Data are weighted to ensure priorities are given to dynamics such as preferred ‘best practices,’ business models, recent business activity, etc. Each variable is graded and represents a certain value for each measured component. These data are fed into an algorithm that measures thousands of firms against each other.”
Read more: forbes.com/sites/rjshook/2022/10/25/methodology-americas-top-ria-firms-2022