File - Accounting Today

Not
for
redistribution
cover
story
Third Ranking of
CPAs by AUM
T
The idea for the ranking presented in the following pages began some
two years ago when the editors of this publication decided to plow an area
that had previously been left untouched. A survey was prepared and sent
to a wide listing of CPA firms and the reaction was rather staggering.
There were 89 responses.
Last year, the response topped 100 and this year it reached 132,
with firms having in excess of $40 billion of assets under management. In fact, 10 firms have some $25 billion of this. This is the reason
that we chose to break the firms down into sections.
The editors also delved beneath the surface of the rankings and
looked at what affiliations each firm had, such as broker/dealers, wirehouses, financial services companies, and the like.
For inclusion in this survey, we had two criteria for consideration: they
must be a CPA firm that has a financial planning practice, even as a subsidiary or affiliate, and the financial planner in the office must hold a CPA
credential.
There are a few footnotes and explanations to these rankings you should
keep in mind. First, the numbers listed are, in some respects, based on calendar-year figures, as reported by the firms, and others are on fiscal years.
Then too, because of space limitations, we did not have room to list LLPs,
LLCs, corporate designations, partnerships, and the like. To simplify,
we just listed the basic name of the firm.
Moreover, some firms had controlling principals, CEOs,
presidents, etc. Again, for simplification pur­poses, we
used the �����
term ��������������������
“managing partner.” ������������������������
And finally, we did not
have the room to include all the various licenses held by the
different firms. There were just too many.
Based upon all the e-mails, telephone calls, and faxes we
have received since the first ranking was published two years
ago, we firmly believe the following information in our charts,
graphs, and the like will shed some vital light on this ever-burgeoning field. CPAWP
Not for redistribution: No part of the content containedherein may be redistributed, copied,
abstracted, disseminated, circulated or included as part of any other service or product.
For all permissions/reprints requests, please contact Godfrey Livermore at (212) 803-8351, or
28
CPA Wealth Provider July 2009
A Supplement to Accounting Today
[email protected]
Not for redistribution
cover story
The Billion Dollar Club
AUM $
FIRM NAME
CITY
STATE
MANAGING PARTNER
5,876,714,762
myCIO Wealth Partners
Philadelphia
PA
David E. Lees
5,343,488,594
Plante Moran Financial Advisors
Southfield
MI
Robert M. Palmer
3,494,345,303
RSM McGladrey Inc.
Minneapolis
MN
David Pierce
3,166,001,000
Gilman Ciocia Inc.
Poughkeepsie
NY
Michael Ryan
1,800,000,000
Wipfli Hewins/Hewins Financial Advisors
Minneapolis
MN
Roger Hewins
1,300,000,000
LarsonAllen Financial
Minneapolis
MN
Antony R. Hallada
1,192,891,593
Savant Capital Management Inc.
Rockford
IL
Brent R. Brodeski
1,191,705,991
BKD Wealth Advisors
Springfield
MO
Jack Thurman
1,114,812,144
CBIZ Inc./Mayer Hoffman McCann PC
Cleveland
OH
William Hancock
1,007,001,669
HBK Sorce Financial
Erie
PA
Christopher Allegretti
1,000,000,000
Baker Tilly Investment Advisors
Madison
WI
Steven R. Parish
Wealth
Magnet Elite
Billion Dollar Club Share
of AUM
The $100+ Million Club
AUM $
FIRM NAME
CITY
STATE
MANAGING PARTNER
876,294,547
SignatureFD (formerly F&D Advisors)
Atlanta
GA
Jeffrey S. Peller
788,029,000
Honkamp Krueger Financial Services Inc.
Dubuque
IA
John Darrah
780,000,000
Berkowitz Dick Pollack & Brant Miami
FL Richard A. Berkowitz
762,000,000
Howard Financial Services Ltd.
Dallas
TX
James N. Howard
600,000,000
Clifton Gunderson Wealth Management
Middleton
WI
Robert A. Mathers
590,415,000
Truepoint Inc.
Cincinnati
OH
Michael J. Chasnoff
536,000,000
Capital Performance Advisors
Walnut Creek
CA
Sherman Doll
500,000,000
CCR Wealth Management
Westborough
MA
David A. Borden
472,000,000
Jackson Thornton Asset Management Montgomery
AL
Tommy R. West
432,000,000
Schneider Downs Wealth Management Advisors Pittsburgh
PA
Don A. Linzer
387,000,000
Weaver Tidwell Wealth Management
Dallas
TX
Dave Sego
382,162,886
Mission Wealth Management
Santa Barbara
CA
Seth Streeter
382,000,000
Dopkins Wealth Management
Williamsville
NY
Brian Cannon
375,000,000
Dynasty Quest Inc.
Sedona
AZ
Steven P. Siegel
350,000,000
Anchin Wealth Management
New York
NY
Upen Saraiya
350,000,000
Tegra Financial Partners
Atlanta
GA
Nick Bhandari
348,415,558
Sequoia Financial Group
Cleveland
OH
Thomas A. Haught
287,000,000
Warren, Averett, Kimbrough & Marino
Birmingham
AL
James A. Warren
248,536,000
BHCO Capital Management Inc.
Dallas
TX
Pat C. Beaird
235,000,000
Lassus Wherley
New Providence
NJ
Clare E. Wherley
230,165,894
ML&R Wealth Management
Austin
TX
Steve Harvey
204,000,000
Wealthquest Financial Services
Norfolk
VA
Jeff Chernitzer
186,589,000
Boulay Financial Advisors
Minneapolis
MN
Dave Bremer
166,918,095
Traphagen Investment Advisors Oradell
NJ
V. Peter Traphagen Jr.
166,000,000
Herbein Wealth Management
Wyomissing
PA
William A. Morgan
165,000,000
Rowling, Dold & Associates San Diego
CA
Sheryl Rowling
158,000,000
Kemper Capital Management
Robinson
IL
Thomas Moore
157,000,000
KEB Asset Management
Springfield
IL
Marc Carter
151,000,000
WebsterRogers Investment Advisors Florence
SC
Frank M. Rogers IV
150,000,000
Grant/GrossMendelsohn
Baltimore
MD
Chris Grant
150,000,000
Jack Oujo CPA Inc.
Wall
NJ
Jack Oujo
147,101,154
Asset Strategies Inc.
Casper
WY
Connie Brezik
140,000,000
Orizon Group Inc.
Omaha
NE
Gene Garrelts
140,000,000
Weiser Capital Management New York
NY
Debra Schatzki
139,000,000
SMF Financial Advisors
Clifton
NJ
Michael Shenker
136,507,000
Lauterbach Financial Advisors El Paso
TX
David Lindau
136,000,000
A & F Financial Advisors Charleston
WV
Gary Swingle
121,077,370
Tarpley & Underwood Financial Advisors
Atlanta
GA
Roger G. Ward
110,000,000
KLR Financial Advisors
Providence
RI
Peri Ann Aptaker
110,000,000
Mark Sheptoff Financial Planning Glastonbury
CT
Mark Sheptoff
109,839,943
KMH Wealth Management
Victoria
TX
Thomas Lane Keller
109,000,000
Nova Investment Group
Atlanta
GA
Jeffrey Cohen
104,000,000
DB&B Financial Services
Syracuse
NY
Ted Sarenski
A Supplement to Accounting Today
Charles Schwab 31%
Independent 25%
JP Morgan 8%
Fidelity 4%
Other 32%
The $100+
Million Club
Share of AUM
Charles Schwab 21%
Fidelity 15%
BAM 7%
Independent 3%
HD Vest 1%
Raymond James 1%
Other 27%
None listed 25%
July 2009
CPA Wealth Provider
29
Not for redistribution
WEALTH MAgnets
The $50+ Million Club
AUM $
The $50+
Million Club
FIRM NAME
CITY
STATE
MANAGING PARTNER
97,000,000
Andrews, Lucia Wealth Management San Mateo
CA
Robert J. Lucia
95,000,000
Witt Mares Financial Vision
Williamsburg
VA
David Bush
94,996,194
M. White Financial Services
Baytown
TX
Matthew White
94,000,000
LCV Wealth Management Ltd.
Rockford
IL
Scot Roche
91,000,000
Shinn Financial Group
Fort Collins
CO
Ralph T. Shinn
87,000,000
Mason Road Wealth Advisors
St. Louis MO
William J. Bender
86,000,000
Kolb+Co Financial Advisers Brookfield WI
Mark W. Miller
85,000,000
CPFA Greenwood Village
CO
N/A
84,000,000
Fazio, Mannuzza, Roche, Tankel, LaPilusa Springfield
NJ
Joseph A. Fazio
84,000,000
Kraft Asset Management
Nashville
TN
Stephen High
79,000,000
HD Financial Services
Omaha
NE
Richard Homan
78,000,000
FMF & E Wealth Management Syracuse
NY
Chris Gardner
77,000,000
Wealth Management Group Dover
DE
Scott Brown
Charles Schwab 21%
74,000,000
AVL/Wealthcare Gulfport
MS
RodneyVan Loon
Fidelity 15%
74,000,000
Trusted Financial Partners
Plymouth
MN
Kevin O’Connor
72,000,000
KB Investment Advisors St. Louis MO
Nathan Rages
72,000,000
RF&L Wealth Management
Boston
MA
F. Neil Doherty
70,000,000
Prospect Financial Services Huntington
NY
Lee E. Kilbrith
69,000,000
Great River Asset Management
Burlington
IA
Jim Walker
68,000,000
PKS Investment Advisors
Ocean City
MD
Winn Booth
67,000,000
AMD Financial Services
St. Louis MO
Stan Royer
66,000,000
ARK Financial Services Bethesda
MD
Andrew Kline
65,100,510
Whitcomb & Hess
Ashland
OH
James H. Hess
65,000,000
The Whitlock Co.
Springfield
MO
David Myers
64,260,000
BCS Financial
Johnson City
TN
Mike Alread
64,000,000
ShankerValleau
Evanston
IL
Larry Shanker
62,000,000
JDH Wealth Management.
Santa Rosa
CA
Tim Delaney
60,000,000
Financial Resource Group
Frederick
MD
Joseph F. Kilner
58,840,880
Briggs Wealth Management
Glastonbury
CT
Mark Briggs
57,200,000
Wilner & Scherr PA
Baltimore
MD
Howard Wilner
56,180,619
Ronald P. Austin CPA/PFS
Lafayette
IN
Ronald P. Austin
52,000,000
Wasserman Wealth Management Farmington Hills
MI
Bradley A. Wasserman
51,829,314
Bishop & Co. PL
Jacksonville
FL
Matthew B. Bishop Sr.
Share of AUM
BAM 7%
Independent 3%
HD Vest 1%
Raymond James 1%
Other 27%
None listed 25%
Rising Stars
Share of AUM
The Rising Stars
AUM $
30
FIRM NAME
CITY
STATE
MANAGING PARTNER
49,000,000
Green Wealth Management
Salem
OR
Phil Green
48,000,000
Solutions for Wealth Management
Bourbonnais
IL
Mark L. Smith
46,000,000
Peak Investment Solutions Roseville
CA
Ken Pope
46,000,000
Shoreline Asset Management
New Castle
IN
Marion E. Shore
45,000,000
Capital Asset Management Jeffersonville
IN
Gregory N. Rogers
43,000,000
CSA Financial Advisors Ltd.
Cincinnati
OH
Michael W. Clark
None listed 5%
43,000,000
Heartland Investment Advisors
Kansas City
MO
Douglas Hunt
Other 4%
43,000,000
WIN Advisor Group Inc. Denver
CO
Mark Autterson
Raymond James 3%
42,000,000
Capstone Wealth Management
Tuscaloosa
AL
William W. Jessup
TD Ameritrade 3%
40,000,000
Raymond James Financial Services
Greensboro
NC
N/A
1st Global 2%
39,000,000
BGEMD Capital Advisors Richardson
TX
John C. Garvey Jr.
Independent 1%
39,000,000
Bullock Capital Alliance Inc.
Colorado Springs
CO
David W. Bullock
CPA Wealth Provider
July 2009
BAM 27%
Charles Schwab 23%
Fidelity 19%
HD Vest 13%
A Supplement to Accounting Today
Not for redistribution
WEALTH MAGNETS
Number of
Employees
The Rising Stars (cont’d)
AUM $
FIRM NAME
CITY
STATE
MANAGING PARTNER
39,000,000
PBGH Financial Advisors Inc. Fredricksburg
VA
Daniel J. Bender
38,000,000
Focus Asset Management Co. Virginia Beach
VA
Lawton Baker
37,135,340
Cynthia L. Conger CPA PA
Little Rock
AR
Cynthia L. Conger
36,000,000
D3 Financial Counselors
Downers Grove
IL
Donald D. Duncan
35,081,000
Dexter Ward & Associates
Denison
TX
Dexter Ward
35,000,000
Scafa Financial Services
Princeton Junction
NJ
Elizabeth Scafa
35,000,000
Squire Investment Co. Orem
UT
Tim Christensen
33,500,000
Williams Advisory Group
Alpharetta
GA
John L. Williams
33,000,000
Biscotti, Toback & Co. CPAs
Garden City
NY
Louis J.Biscotti
33,000,000
Cornerstone Wealth Advisors Overland Park
KS
David L. Imhoff
33,000,000
Krouse Kern Wealth Management Inc. Ft. Wayne
IN
Anthony Stureman
33,000,000
TD & T Financial Group
Keosauqua
IA
Jan Towne
32,000,000
Salem Asset Management Salem
OR
Joanne E. Humphrey
32,000,000
Thomas A. Geisler CFP
Pittsburgh
PA
Tom Geisler
30,000,000
Strategic Investment Advisors Ltd.
Cape Girardeau
MO
James M. Hillin
29,250,000
DST Trusted Advisors
Victor
NY
Thomas Tette
28,800,000
Klane Wealth Management
St. Paul
MN
Steven Klane
28,000,000
Hogan Capital Management Inc.
Waterloo
IA
Karla R. Hoppes
26,000,000
Financial Advocates
Costa Mesa
CA
James E. Pickett
25,000,000
LGC&D Wealth Management
Providence
RI
Jerrold N. Dorfman
24,383,745
MJ Baker & Associates
Avon Lake
OH
Michael J. Baker
24,000,000
William M. MacDonald CPA CFP
Portsmouth
NH
William M. MacDonald
22,000,000
Capital Wealthcare
Wichita
KS
Kedre Mellor
20,000,000
Dental Wealth Advisors Kirkland
WA
Sam Martin
19,592,765
Kuhl Financial Services
Lake Bluff
IL
Larry Kuhl
17,500,000
Meridian Wealth Advisors
Albuquerque
NM
Scott Floersheim
15,000,000
Craun Freeman Tax & Wealth Management
Rochester
MI
Robert M. Craun
15,000,000
RHR Wealth Management Skokie
IL
Ed Gildenberg
14,000,000
Dynamic Wealth Strategies
San Jose
CA
David R. Koehler
14,000,000
Fitzgerald Financial Partners
Houston
TX
Michael Fitzgerald
11,036,503
Innovative Financial
Lakewood
CO
DeDe Jones
10,000,000
Portland Financial Advisors Inc.
Beaverton
OR
Russell D. Francis 10,000,000
Rosenbaum Financial Services
Matawan
NJ
Ralph Rosenbaum
FIRM NAME
Ones
CITY
to
W a tc h
STATE
Wealth Magnet Elite
0
0
7
2
1
%
100%
0%
0%
70%
20%
10%
$100+ Million Club
#
30
1-9
16
10-24
10
25-99
3
100-499 1
500+
0
%
100%
54%
33%
10%
3%
0%
$50+ Million Club
1-9
10-24
25-99
100-499
500+
#
15
11
1
3
0
0
%
100%
73%
7%
20%
0%
0%
Rising Stars
1-9
10-24
25-99
100-499
500+
#
23
20
2
1
0
0
%
100%
87%
9%
4%
0%
0%
MANAGING PARTNER
John R. Monaco CPA PC
Brewster
NY
John R. Monaco Stephenson Accountancy Corp.
Colton
CA
Doug Stephenson
Thomas R. Hogle CPA
Monticello
FL
Thomas R. Hogle Bovitz CPA PC
Trenton
MI
Rob Bovitz
Chambers Asset Management Nipomo
CA
N/A
Accounting Management Advisors Inc.
Greenacres
FL
Elisa Armetta
A Supplement to Accounting Today
1-9
10-24
25-99
100-499
500+
#
10
July 2009
CPA Wealth Provider
31