InvestmentNews, a leading investment industry publication, released their national list of “Fastest-Growing Fee-Only RIAs of 2023” based on three-year growth as determined from required SEC filings of Registered Investment Advisors. “The fee-only business model, characterized in part by independence from broker-dealers and commission-based products, has been able to flourish, as illustrated by assets under management by fee-only firms growing at an average annual rate of 9.5% since 2019.”
True Wealth Design is proud to have earned #10 on the list in its class with an annualized growth rate of 40.2% over the same time period — three years ending in 2022.
About True Wealth
Catering to successful individuals and families seeking an integrated approach to their financial planning, tax, estate, and investment needs, the mission of True Wealth Design is simple: Help clients live better lives with help from smarter financial planning.
Managing more than $500 million, tending to hundreds of tax returns, and facilitating dozens of estate plans yearly all in concert with clients’ financial life plans, partner Tyler Emrick says, “We commonly find others charging similar or higher fees for asset management or low-level planning services only. Here they get a lot more. We are happy to be both a high-quality and high-value choice. Without happy clients (see our NPS Score) who recommend our services to others, we would not have achieved this growth.”
While we are excited about the growth, we are more excited about what that means, says the firm’s Managing Partner, Kevin Kroskey.
“This growth allows us to continually reinvest in our team, the services we provide, and the value we deliver to our clients. Great people want opportunities for personal growth. And clients deserve us to continually improve and provide an even more significant, positive impact on their lives. Thus, this growth is a fortuitous cycle. All stakeholders benefit. Unexpectedly, through this continual improvement process, we have become a firm not only clients are choosing but so too are financial advisors: whether seeking a high-performing team environment to join and better serve clients or a retiring advisor in need of a trustworthy partner to continue to care for clients. We’re honored to be regarded in such a high manner by our clients as well as our colleagues.”
InvestmentNews selected the Fastest-Growing Fee-Only RIAs based on data reported to the Securities and Exchange Commission on Form ADV. To qualify, fi rms must have met the following criteria: (1) latest ADV ling date is either on or after July 1, 2022, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) managed assets for individual clients during its most recently completed fiscal year, (5) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25% of amount of regulatory assets under management is attributable to pension and pro tsharing plans (but not the plan participants), (7) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, and (12) has neither a related person who is a broker-dealer/ municipal securities dealer/government securities broker or dealer (registered or unregistered) nor one who is an insurance company or agency. To be considered for the list of fastest-growing AUM, fi rms must have met the criteria in each year (ending July) between 2020 and 2023. In cases where a firm led more than one annual update to their ADV, the latest filing for the year was used.