America’s Ten Best Personal Financial Planners
Barron's answers the question “who are the best personal financial planners” every year with a list of America's top 100. It has been publishing the list for seven years. Here are the top ten personal financial planners for 2010. Morgan Stanley Smith Barney leads the way in representation on the list.
1. Brian Pfeifler of Morgan Stanley, New York, NY
2. Roger Coleman, one of the Morgan Stanley financial advisors, Garden City, NY
3. Ric Edelman of Edelman Financial Services, Fairfax, VA
4. Ira Walker, UBS Financial Services, Red, Bank, NJ
5. Steve Lockshin, Convergent, Los Angeles, CA
6. Gregory Vaughan, Morgan Stanley PWM, Menlo Park, CA
7. Jeff Erdmann, Merrill Lynch, Greenwhich, CT
8. David Zier, Convergent Wealth Advisors, Rockville, MD
9. Ron Carson, Carson Wealth Management, Omaha, NE
10. Andy Chase, Morgan Stanley financial advisors, Menlo Park, CA
Client Satisfaction among Personal Financial Planners
The Boston Research Group, in August 2010, released a Satisfaction and Loyalty Study ranking financial services firms according to criteria important to personal financial planners. In this years, rankings, MassMutual's Retirement Services Division stood out as #1 in several key categories:
- Wholesaler partners for success
- Participant education program
- Internet capabilities for plan sponsors
- Internet capabilities for participants
- Participant statement
- Seminar assistance
- Product education for the advisor
MassMutual Knows How to Change Course
This distinction from the Boston Research Group comes on the heels of MassMutual's shutting down its division devoted to the retirement business.
In 2005, MassMutual became one of the first insurance companies to announce formally that it was building a business designed to target investors near or at retirement. Its retirement product was based on a mutual fund wrap program with an immediate-income-annuity option.
But, almost five years after entering the retirement income market, the firm shut down its retirement business unit. Experts say MassMutual’s mutual fund wrap product was both ahead of its time and too difficult for personal financial planners to understand. Executives from the firm have contended hey were not backing off from the retirement income market but merely changing course.
Topic: Financial Advisors
Subtopics: Introduction to Personal Financial Planners • Value of Financial Advisors • Retirement: The New Target • Behavioral Economists • Retirement Income Industry Association • Retirement Income Security • Four Tips • Two Tips • Four More Tips • The Best Financial Advisors • Ten Barriers
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