A group of West Michigan financial planners were ranked on Forbes’ 2020 list of rising wealth advisers.
Ryan Sheffer, of Advance Capital Management in Grand Rapids; Molly Chelovich, of Merrill Lynch Wealth Management in Grand Rapids; Rachel Mraz, of Merrill Lynch in Grand Rapids; and Bob Bishop, of Wells Fargo in Holland, were ranked on the 2020 Top Next-Gen Wealth Advisors list, published last week.
Sheffer was ranked No. 155, Chelovich No. 183,
Mraz No. 248 and Bishop No. 443.
The four West Michiganders are among 500 rising U.S. advisers under the age of 40 who help manage over $1 trillion in client assets and “represent the future of the wealth management industry.”
“Sandwiched between generations, these advisers are eagerly sought by the industry to best serve families,” wrote R.J. Shook about his research for Forbes. “They’re seasoned. They’ve lived through market cycles. And their deep
relations with families — often representing three or more generations — position them among the best wealth management has ever seen.”
The Forbes Next-Gen Wealth Advisors list is produced independently by Forbes magazine in collaboration with SHOOK Research, a financial services rating firm.
Each adviser is chosen based on an algorithm of qualitative and quantitative criteria, including in-person interviews, industry experience, compliance records, revenue produced and assets under management. There are no fees or other considerations required for nomination.
Those chosen have a minimum of four years’ experience, although this year’s honorees had an average of 16 years of experience.
Forbes said 15,571 individuals were invited to complete the online survey, and SHOOK conducted 12,372 telephone interviews, 2,488 in-person interviews at advisers’ locations and a total of 3,480 individuals were considered for the ranking.
A certified financial planner (CFP), Sheffer takes a comprehensive approach to wealth management, creating personalized financial plans for clients, including investment portfolio advice, retirement planning, tax strategies and saving for college.
He holds a Bachelor of Arts degree in economics from Michigan State University and a Master of Science in Finance from Walsh College, and is a member of the Financial Planning Association and the Western Michigan Estate Planning Council.
A member of The Tupper Group of Merrill Lynch advisers, Chelovich, CFP, creates strategies for 401(k) investing, gifting, portfolio management and more.
She has a Bachelor of Science degree in marketing from Butler University, serves on the Grand Rapids Community Foundation’s Professional Advisory Committee, is a member of Grand Rapids Community Foundation’s Scholarship Selection Committee and volunteers with West Side Walk for Gilda’s Club.
Mraz, a senior vice president with Merrill Lynch, is a chartered adviser in philanthropy (CAP), a certified investment management analyst (CIMA), a chartered retirement planning counselor (CRPC) and a CFP. As a portfolio manager, she can help clients pursue their objectives by managing, on a discretionary basis, personalized or defined strategies, which may incorporate individual stocks and bonds, Merrill model portfolios and third-party strategies.
She holds a bachelor’s degree from Cornell University and a master’s in financial services with a focus on tax and philanthropic planning from American College, and she is currently on the boards of John Ball Zoo, Davenport University Foundation, Family Business Alliance, Saint Mary’s Foundation and the Equest Center for Therapeutic Riding.
Bishop is managing director of investments at The Bishop Financial Group of Wells Fargo Advisors in Holland, where he offers a wide range of services, from helping clients select individual investments to developing a retirement plan.
He holds a Bachelor of Science degree in finance from Grand Valley State University, as well as the CRPC designation.