Accounting Today included a pair of financial firms with West Michigan locations to its 2020 list of Top Firms by Assets Under Management (AUM).
Southfield-based Plante Moran, which has locations in Grand Rapids and Kalamazoo, was ranked No. 1 on the list’s Billion Dollar Club with $17.27 billion in AUM. Troy-based Rehmann, with locations in Grand Rapids, Grandville, Battle Creek and Muskegon, took the No. 18 spot, with $2.5 billion in AUM.
The 14th annual ranking was published in a June supplement by Accounting Today.
The 32 financial organizations included in the top ranks were selected based on assets under management from a group of more than 150 applicants.
Accounting Today’s annual report this year highlights the difficulties the coronavirus has brought to the financial services industry. With a lack of face-to-face meetings and private sit-downs between advisers and clients, financial service and advisory firms have had to adapt to ensure client success.
Daniel Hood, editor-in-chief at Accounting Today, said despite challenges, the future is bright for financial firms. The move to remote operations and increased importance of providing robust services amid uncertainty will change the industry for years to come, he said.