Best Financial Advisory Firms Methodology 2023

This document is a methodology report detailing the evaluation process for USA TODAY's 'Best Financial Advisory Firms' for 2023. The ranking is based on an analysis of registered investment advisory firms (RIA Firms) and considers two primary dimensions: client and peer recommendations, and the growth of Assets under Management (AUM). The methodology involved an independent survey sent to over 20,000 individuals, where clients evaluated their RIA firms and financial advisors recommended other firms. The AUM growth was analyzed over both short-term (one year) and long-term (five years) periods using publicly available data. The final score for each firm was calculated with a weighting of 20% for recommendations and 80% for AUM development. To qualify for the ranking, firms must meet specific criteria, including being registered as an RIA for at least one year and maintaining a clean disciplinary record. The document outlines the scoring model and requirements for recognition as one of the top financial advisory firms.