White Oaks Wealth Named to CNBC Top Fee-Only Wealth Management List
Minneapolis, MN (PRWEB) May 16, 2014 -- White Oaks Wealth Advisors, Inc. is an independent wealth advisory firm in Minneapolis, Minnesota with an investment management office Longboat Key, Florida called White Oaks Investment Management, Inc. White Oaks serves high net worth individuals and families representing over $400 million of assets under management with an additional $100 million in custody assets, and is one of CNBC’s “Top Fee-Only Wealth Management Firms”. The list includes the top 100 firms nationally based on the CNBC rankings.
CNBC’s ranking methodology is based on the following criteria: Assets under management, having staff with professional designations such as a CFP or CFA, working with third-party professionals such as attorneys or CPAs, average account size, client segmentation, growth of assets, years in business, number of advisory clients, and providing advice on insurance solutions. Firms with greater assets under management (AUM) totals were given a higher ranking in the case of numerical ties of the above formula. The Meridian/AdviceIQ team then applied the formula to the Meridian-IQ database of all registered investment advisors (RIAs) to create the list. The final step to create the Top 100 Fee-Only Wealth Management Firms list for CNBC.com was to apply the AdviceIQ Regulatory Compliance Review (RCR) process to the master list and eliminate any firm that failed the RCR process. The RCR process is a due-diligence process whereby each advisory firm was compared with the RCR database of all regulatory actions from all four primary regulators: SEC, FINRA, state regulators and state insurance commissioners. In order to pass the RCR process, an advisory firm cannot have any complaints, actions or disclosures from any of the above regulators.
Robert Klosterman, Founder of White Oaks Wealth Advisors, Inc. and Chief Investment Officer of White Oaks Investment Management comments, “White Oaks is very proud to be included in the CNBC Top Fee-Only Wealth Management Firm listing. This listing is special as it takes into consideration the professional backgrounds of our team in addition to the financial criteria of size and assets of the firm. This provides a broader and more complete picture to consider.” Sharon Bloodworth, President of White Oaks Wealth Advisors added “we are delighted on being highlighted on the national list for fee only advisers. It is our core philosophy to offer conflict free advice and sit on the client’s side of the table when reviewing their finances. We love our clients and are so pleased to be thriving.”
White Oaks Wealth Advisors, Inc. and White Oaks Investment Management, Inc. are private, fee-only Wealth Management and Family Office firms within Minneapolis, MN and Longboat Key, FL that specializes in simplifying the complexities of wealth for upper net worth individuals. The firm offers an advisory team with over 60 years of experience in areas such as retirement planning, investment advice and management, family office services, estate planning, tax planning, stock option exercise, charitable gift planning, qualified plan distribution planning, and many other issues that individuals face in meeting and achieving their financial security goals. White Oaks Wealth Advisors, Inc. has been honored by having team members listed on the "Top 250 Financial Advisors" by Worth Magazine, “Top Dog's” by Bloomberg Wealth Manager, "5 Star Advisor" by Paladin Registry, "WiserAdvisor.com", "Best 150 Advisors for Doctors" by Medical Economics and "100 Top Advisors" by Mutual Funds Magazine.
CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to more than 395 million homes worldwide, including more than 100 million households in the United States and Canada.
Michaela Larson, White Oaks Wealth Advisors Inc, http://www.whiteoakswealth.com, (612) 455-6900, [email protected]
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