Forbes – America’s Top RIA Firms

Cassaday & Company, Inc., has been ranked #12 on the Forbes ranking of America’s Top Registered Investment Advisory (RIA) Firms for 2022.

Compiled by SHOOK Research, Forbes’ Top RIA ranking highlights 100 advisory firms nationwide with cumulative assets of $730 billion. According to SHOOK, this list is meant to help those looking for an independent advisor.

Registered investment advisory (RIA) firms remain one of the fastest-growing segments in the wealth management business. RIAs are legally bound by a fiduciary standard, and as such are committed to working in a client’s best interest, rather than things like high-commission products. This fiduciary standard led Cassaday & Co. Founder, Chairman & CEO, Steve Cassaday to engrain a cultural principle of always doing the right thing. Steve abandoned the traditional Wall Street model in 1993 because he knew there was a better way to serve clients.

“I knew that having a one-stop shop providing objective guidance that comprehensively addressed financial, investment, tax, retirement, insurance, and estate planning, coordinated by in-house professionals would be attractive to clients. When these professionals sit around a table and have conversations about a client’s situation, the result is an integrated plan that addresses all their issues initially and on an ongoing basis.  The capstone of our process is life and transition coaching that focuses on the emotional and psychological dimension of retirement and other transitions that, if not properly addressed, can derail an otherwise excellent financial plan.”

“I’m fortunate to be surrounded by colleagues who are not only intelligent and excellent at what they do, but also abide by our mandate to always do the right thing for clients and treat them as if they would their own family members,” Cassaday concluded. Our team is honored to receive this recognition from Forbes.

Bear Markets Don’t Destroy Wealth

2022 has been a complicated year for markets and investors. According to Forbes, “the S&P 500 Index is down 21% and the Nasdaq Composite down 31%, inflation is 8%, with few signs of receding and a recession is imminent. Never before has the need for steady-handed financial advice been greater.”

Founder & CEO Steve Cassaday was invited to speak with Forbes regarding this ranking and to share insights on challenges investors face in times such as these. Cassaday argues there is no system for investing that works all the time. Remaining fully invested and broadly diversified will result in a “pretty good return, most of the time.”

“We spend a lot of time warning clients, preparing them emotionally for markets like this,” Cassaday says. “The thing you have to remember is that it’s not the bear market that could destroy your wealth but it’s how you behave during the bear market.”

For more on this conversation, click here.

About this award

Research for all Forbes advisor rankings is conducted by SHOOK Research. SHOOK scours the financial services industry for nominations. SHOOK accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records. For this ranking, SHOOK received nearly 36,535 nominations for advisors who meet SHOOK’s thresholds. Of this group:

• 21,116 were invited to complete online survey
• 15,342 received telephone interviews
• 3,250 in-person interviews occurred at advisors’ location
• 1,357 virtual interviews occurred

To compile their final list, SHOOK uses an algorithm designed to fairly compare the business practices this large group of firms based on quantitative and qualitative elements. While there is focus on quantitative data, SHOOK focuses primarily on qualitative data, skewing their recommendations towards firms in which they can thoroughly understand how each client is actually treated. In doing so, they measure aspects like processes that are inherent in each client relationship, what is the team’s purpose, and what is the underlying culture that can be seen throughout all levels of employees.

For more on SHOOK’s methodology, click here.

Ranking History

2022 is the inaugural year for the Forbes Top RIA list.

To see the complete list of Forbes Top RIA Firms, click here.