With over 20 years experience in the industry, I was excited to start my own registered investment advisor in 2014 in order to give my clients award-winning financial service through a personal, hands-on approach.
Bridgewater, NJ (PRWEB) January 26, 2017
Five Star Professional is pleased to announce Andrew Novick, The Investment Connection, has been chosen as one of New Jersey’s Five Star Wealth Managers for 2017.
“I am committed to the fee-only concept and am a proud member of NAPFA, the leading financial planning association for fee-only advisors. I am also a founding member of the XY Planning Network, whose mission is to make financial planning services available at a reasonable price to the younger generation. For those clients that need investment services, I favor a low-cost index approach combined with a socially responsible component, which really resonates with generations X and Y,” said Andrew Novick of The Investment Connection.
Five Star Professional partnered with New Jersey Monthly to recognize a select group of New Jersey-area wealth managers who provide quality services to their clients. Andrew Novick will be featured, along with other award winners, in a special section of the January issue.
“With over 20 years experience in the industry, I was excited to start my own registered investment advisor in 2014 in order to give my clients award-winning financial service through a personal, hands-on approach,” said Andrew Novick
The Five Star Wealth Manager award program is the largest and most widely published wealth manager award program in the financial services industry. The award is based on a rigorous, multifaceted research methodology, which incorporates input from peers and firm leaders along with client retention rates, industry experience and a thorough regulatory history review.
“The research behind this award is extensive with each wealth manager being thoroughly vetted from numerous angles. We are proud to showcase these distinguished professionals,” stated Jonathan Wesser, Research Director, Five Star Professional.
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required: 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; feedback may not be representative of any one client’s experience; 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. Evaluation criteria – considered: 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 placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. 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 client’s 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 or this publication. 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.
For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com. 3,868 New Jersey wealth managers were considered for the award; 664 (18 percent of candidates) were named 2017 Five Star Wealth Managers.