Apriem Advisors was named one of the top 300 RIAs in the United States for the second year in a row by the Financial Times, joining six other firms in Orange County, the Orange County Business Journal reports. An excerpt is below:
“Six registered investment advisers based in Orange County made the Financial Times’ annual list of the ‘top’ 300 RIAs in the United States.
FT used a formula on six factors, including AUM that accounted for 70% to 75% of an adviser’s score while asset growth was an additional 15% to 20%. Other factors included years in existence, compliance record and industry certifications.”
Disclosure: The FT examine the database of RIAs registered with the SEC and select those that reported $300M or more in AUM. The Financial Times’ methodology is quantifiable and objective. The RIAs had no subjective input. The FT invited qualifying RIAs – more than 2,000 – to complete a lengthy application. Some 725 RIA companies applied and 300 made the final list. The formula the FT uses to grade advisers is based on six broad factors and calculates a numeric score for each adviser. Areas of consideration include adviser AUM, asset growth, the company’s age, industry certifications of key employees, compliance record and online accessibility. Additionally, the FT caps the number of companies from any one state based on the distribution of millionaires across the U.S. The research was conducted by Ignites Research, a Financial Times sister publication.