Don't Be Left Out of AUM Rankings

Last year, we published for the second time a ranking of CPAs by AUM (Assets Under Management). The response was staggering. We more than doubled the prior year’s number and went over the 200 mark.   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.   In the top list were 18 firms that were in “The Billion Dollar Club,” or as we called it, “Wealth Magnet Elite.” We had 87 firms were in “The $100+ Million Club” or “Wealth Magnet Select,” and then 37 in the “$50 Million Club.” In the eight-figure category that we deemed “Rising Stars,” we had another 40.   We also delved beneath the surface of just a ranking and unearthed what share broker/dealers, wire-houses, financial services companies, and the like had. We went even further and revealed the areas of financial planning products that each firm recommended in basic categories such as IRAs, 401(k)s, mutual funds, life insurance, bonds, 529 plans, to name a few.   The reaction from the accounting profession has been simply wonderful. No one had ever seen such a ranking before we did the first one in 2007 and it opened the door more. Firms clamored for this to be an annual event, and we are complying.   We are contacting everyone on our list from last year for updates plus additional firms that have contacted us. The final list will be compiled on May 1 and we will publish the rankings in the July 2009 CPA Wealth Provider.   We encourage you to participate. For a copy of the Survey Form, contact me by email (stuart.kahan@sourcemedia.com), or write to me at Source Media, One State Street