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With our annual rankings, Financial Planning recognizes the industry’s top-producing young financial advisors at wirehouses and regional firms.
On a combined basis, the Top 40 Brokers Under 40 generate nearly $205 million in annual revenue — an average of $5.1 million per year, the same as last year — and oversee $40 billion in client assets.
The group’s combined production was 1% higher than last year’s class — a slight bump over the past year — although assets were down 13% from the prior year.
Financial advisors earning a spot in the 2023 edition come from nine different firms: Merrill, UBS, Morgan Stanley, JPMorgan Chase, William Blair, Ameriprise, RBC, Janney and Oppenheimer.
For at least the fourth year in a row, Merrill Lynch Wealth Management and Merrill Private Wealth Management together have the most brokers in the group, at 18. UBS Wealth Management and UBS Private Wealth Management followed, with eight.
To view the Top 40 Brokers Under 40, scroll down our slideshow.
To find out how employers in wealth management can hold onto their top young brokers, click here.
To see the list of the top 40 regional brokers under 40, click here.
A note on methodology: Nominees for the rankings were age 39 or younger as of Dec. 31, 2022, and were registered with a wealth management firm in the employee channel. FP uses production totals that are verified by each broker’s employer to determine the rankings. The reported trailing 12-month production and AUM are as of Sept. 31, 2022.
Source: news.google.com
