We are honored to play our part and work with them as they put their children through college, retire and protect their families.
Nutley, NJ (PRWEB) December 08, 2015
Five Star Professional is pleased to announce Michael S. Cocco, CFP®, ChFC®, of AXA Advisors, LLC, has been chosen as one of New Jersey’s Five Star Wealth Managers for 2016.
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. Michael S. Cocco is featured, along with other award winners, in a special section of the January issue.
“We specialize in working with clients to set up a customized and comprehensive plan, helping them build and protect their wealth for themselves and for their loved ones. What is so rewarding about what we do is that we get very involved in our clients’ lives,” says Michael. “We are honored to play our part and work with them as they put their children through college, retire and protect their families. Having clients that are truly good people that you wish the very best for in life makes it even better.”
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.
“Because of technology, there is certainly never a shortage of financial articles and ‘advice’ being delivered every minute of every day through several different platforms,” Michael explains. “I believe it is so important for everyone to have a real-life financial planner to be able to customize the advice and guidance for their personal situation. That is the value we add to our clients.”
“It is a privilege to present exceptional wealth managers with the Five Star award each year. These select wealth managers have worked hard to get where they are with a deep knowledge of their industry and care for their clients,” says Lynn Hargreaves, VP, Research and Services Operations, 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: 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 (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*); 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. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The award methodology does not evaluate the quality of services provided and is not indicative of the winner’s future performance. 4,143 New Jersey wealth managers were considered for the award; 626 (16 percent of candidates) were named 2016 Five Star Wealth Managers.
*To qualify as having a favorable regulatory and complaint history, the person cannot have: 1. been subject to a regulatory action that resulted in a suspended or revoked license, or payment of a fine, 2. had more than three customer complaints filed against them (settled or pending) with any regulatory authority or Five Star Professional’s consumer complaint process, 3. individually contributed to a financial settlement of a customer complaint filed with a regulatory authority, 4. filed for bankruptcy, or 5. been convicted of a felony.
For research methodology information visit http://www.fivestarprofessional.com.