TFO Wealth Partners Named to Forbes’ 2023 America’s Top RIA Firm List

Awards and recognitions by unaffiliated rating services, companies, and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if TFO Wealth Partners, LLC is engaged, or continues to be engaged, to provide investment advisory services; nor should they be construed as a current or past endorsement of TFO Wealth Partners or its representatives by any of its clients. Rankings published by magazines and others are generally based exclusively on information prepared and/or submitted by the recognized adviser. Moreover, with regard to all performance information contained herein, directly or indirectly, if any, users should note that past results are not indicative of future results.

Data as of 3/31/2023. The Forbes ranking of America’s Top RIA Firms, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone, virtual and in-person due diligence interviews, and quantitative data. The algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings.

Research Summary (as of October 2023)

We don’t want 300,000 nominations so we set thresholds to minimize the quantity we receive:

• 42,643 nominations received, based on thresholds
• 23,100 invited to complete online survey
• 18,417 telephone interviews
• 4,281 in-person interviews at advisors’ location
• 1,487 virtual interviews

*Approximately 20% represent independent advisors.

The SHOOK Process

SHOOK scours the financial services industry for nominations. SHOOK accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records. As of this date, SHOOK has received nearly 42,643 nominations—advisors who meet SHOOK’s thresholds. 23,100 of these nominees have taken an online survey.

Unlike other advisor rankings, SHOOK is not a “robo-ranker”—numbers such as production and assets don’t tell the whole story, especially when much of the data is self-reported. SHOOK Research creates rankings of role models—firms that are leading the way in offering best practices and providing a high-quality experience for clients. A focus on both quantitative and qualitative factors, including telephone and in-person meetings, is imperative.

SHOOK Research is the only ranking firm that interviews firms and advisors via telephone and in person at the firm’s location.

Basic Requirements

• A minimum of 7 years as an advisor for 1 partner/principal
• Fully operational as a practice for a minimum of 1 year
• Must incorporate a fiduciary model
• Completion of online survey and interview with SHOOK
• Evaluations focused on wealth management
• Acceptable compliance record

Quantitative Metrics

• Revenues
• Assets under management—and quality of those assets
• Client-related data, such as retention rates
• Portfolio performance is not a factor; audited returns among advisors are rare, and differing client objectives provide varying returns

Qualitative Metrics

• Telephone, virtual and in-person meetings with firms (if an in-person meeting cannot be accomplished, exceptions are considered in which the interview will occur after a ranking has been published).
• Compliance records. Some “dings” can be overlooked (e.g., firm or product failure beyond the scope of an advisor’s due diligence; the older a ding, the less we look). Since there are many gray areas, the SHOOK team is willing to listen to a firm that is willing to stand behind the advisor with written support.
• Firms that provide a full client experience: Service model; investing process; fee structure; breadth of services (e.g., liabilities and other wealth management services)
• Credentials (years of service can serve as proxy)
• Use of team and team dynamics
• Community involvement
• Discussions with management, peers, competing peers

Compliance Issues

The following conditions will be considered in order to lessen weightings infractions:

• Infractions that are denied or closed with no action
• Complaint arose from a product, service or advice initiated by a previous advisor or another member or former member of team
• Length of time since complaint
• Complaints related to product failure not related to investment advice (some limited partnerships, adjusted-rate securities, etc.)
• Complaints that have been settled (must be proven) to appease a client who remained with the advisor for at least one year following settlement date
• Complaints that are proven to be meritless
• Actions taken as a result of administrative error or failure by firm

Once an advisor’s compliance rating falls into a tenable category, the following conditions must be met:

• An advisor’s rating must be among SHOOK’s highest qualitative measures including in-person interview
• Letters of recommendation

Ranking Algorithm

The algorithm is designed to fairly compare the business practices of a large group of firms based on quantitative and qualitative elements. Data are weighted to ensure priorities are given to dynamics such as preferred “best practices,” business models, recent business activity, etc. Each variable is graded and represents a certain value for each measured component. These data are fed into an algorithm that measures thousands of firms against each other.

SHOOK Disclosures

SHOOK is completely independent and objective and does not receive compensation from the advisors, Firms, the media, or any other source in exchange for placement on a ranking. SHOOK is funded through various sources, such as conferences and research partners. Since every investor has unique needs, investors must carefully choose the right advisor for their own situation and perform their own due diligence. SHOOK’s research and rankings provide opinions for how to choose the right financial advisor and not indicative of future performance or representative of any one client’s experience. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Remember, past performance is not an indication of future results.

For more information, please see www.SHOOKresearch.com.

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