Congratulations to Patrick Smith for being selected as a Five Star Wealth Manager for the fourth year in a row!
Five Star Professional partnered with Connecticut Magazine to find wealth managers who satisfy 10 objective eligibility and evaluation criteria that are associated with wealth managers who provide quality services to their clients. The 2016 Five Star Wealth Managers are a select group, representing less than 2 percent of the wealth managers in the Connecticut area.
Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers.
The Five Star award is not indicative of the wealth manager’s future performance.
Wealth managers may or may not use discretion in their practice and therefore may not manage their clients’ assets.
The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional.
Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future.
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Active as a credentialed professional in the financial services industry for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not: A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three customer complaints filed against them [settled or pending] with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; C. Individually contributed to a financial settlement of a customer complaint filed with a regulatory authority; D. Filed for personal bankruptcy; E. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients; 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or awarded. The award methodology does not evaluate the quality of services provided and is not indicative of the winner’s future performance.
If you are interested in learning more about working with a fiduciary or what Shoreline Financial Advisors can do for you, please contact us.