A group of firms in West Michigan was named among the top registered investment advisers (RIA) in the nation.
Financial Times last week published its 2020 Top 300 Registered Investment Advisers list (FT 300), and five firms with West Michigan offices are on the list:
- Advance Capital Management, based in Southfield with a Grand Rapids location
- CapTrust Financial Advisors, Holland
- FormulaFolio Investments, Grand Rapids
- Norris, Perné and French, Grand Rapids
- RMB Capital, Chicago, with a St. Joseph location
The seventh-annual list rated RIAs registered with the U.S. Securities and Exchange Commission that reported $300 million or more in assets under management (AUM), based on “traits desirable to investors.”
In partnership with its sister entity, Ignites Research, Financial Times invited over 2,000 qualifying RIAs to fill out an application providing more information about their firm.
The responses, completed by about 760 RIAs, were graded alongside data from regulatory filings to determine the 300 honorees.
The firms were scored on AUM, asset growth, the company’s age, industry certifications of key employees, SEC compliance records and online accessibility.
FT defines the firms as an “elite group” of RIAs rather than a competitive ranked list.
The full list is online.