Best Financial Advisory Firms Methodology 2024

This document is a methodology report detailing the evaluation process for USA TODAY's 'Best Financial Advisory Firms' for 2024. The ranking is based on an analysis of registered investment advisory firms (RIA Firms) in the United States, focusing on two primary dimensions: recommendations from financial advisors, clients, and industry experts, as well as the development of Assets under Management (AUM). The evaluation involved an independent survey of over 25,000 individuals, where recommendations were collected without self-recommendations. The AUM development was analyzed over both short-term and long-term periods using publicly available data. The final score for each firm was calculated using a weighted model, with recommendations contributing 20% and AUM development contributing 80%. The report outlines the requirements for firms to be recognized, including registration status, disciplinary record, and AUM thresholds. The document also includes a disclaimer regarding the completeness of the evaluation and the use of the ranking.