CitrinGroup Receives FIVE STAR Wealth Manager Award

Published by HOUR Detroit & DBusiness
Presented by Fve Star Professional – June 7, 2010

With more than 11,000 wealth managers in the Detroit area, how do you find someone who listens to you, represents your interests and operates with an emphasis on integrity and service? HOUR Detroit magazine can help. The magazine formed a partnership with Crescendo Business Services to find out which wealth managers scored highest in overall satisfaction.

The Selection Process

Crescendo administered a survey, by mail and phone, to approximately 1 in 5 high-net-worth households within the Detroit area. An additional 4,200 surveys were sent to financial services industry professionals.

On the surveys, recipients were asked to evaluate only wealth managers whom they knew through personal experience, and to evaluate them based upon nine criteria: customer service, integrity, knowledge/ expertise, communication, value for fee charged, meeting of financial objectives, post-sale service, quality of recommendations and overall satisfaction.

Both positive and negative evaluations were included in the scoring. Only wealth managers with five years of experience in the financial services industry were considered.

Next, each wealth manager was reviewed for regulatory actions, civil judicial actions and customer complaints as reported by FINRA (the Financial Industry Regulatory Authority) and other regulatory agencies.

Then, before finalizing the list, wealth managers were reviewed by a blue ribbon panel. The blue ribbon panel was comprised of individuals from within the financial services industry. Although panelist comments were incorporated into the final score, safeguards were built into the review process to reduce the ability of panel members to influence the composition of the final list on the basis of company affiliation.

An Elite Award

The resulting list of 2010 FIVE STAR Wealth Managers is an elite group, representing less than 7 percent of the wealth managers in the Detroit area. Only 686 of the top-scoring wealth managers made this year’s list.

CitrinGroup is an investment advisor registered with the Securities and Exchange Commission (notice filing in the States of Michigan and Texas). CitrinGroup does not offer tax or legal advice. Past performance is not a guarantee of future results. Information and/or opinions are those of the authors/presenters and do not necessarily represent that of CitrinGroup and/or its affiliates. Content is prepared without regard to the individual financial circumstances of readers/viewers. Information and/or opinions are not intended as actual investment advice and may not be suitable for everyone. CitrinGroup makes every effort to provide you with useful information, but makes no representation that it is accurate or complete. CitrinGroup has no obligation to tell you when information and/or opinions change.