Cassaday & Company, Inc., is honored to announce that Partners  Alex Karkeek, CFP®, CMFC®, and Drew Malay, CFP®, CMFC®, have been recognized by Forbes as 2025 Best-In-State Next-Gen Advisors.

Marketing Award Disclosure: The 2025 Best-in-State Next-Gen Wealth Advisors is awarded by Forbes. Cassaday did not compensate Forbes or SHOOK Research for this award. Award consideration was based on data submitted covering the period of March 2024 through March 2025.

Regarding this year’s list, Forbes stated, “Long dominated by older professionals, the wealth management industry now faces a looming succession crisis. The average age of financial advisors in 2025 remains near 56, and research from Cerulli Associates reveals that nearly 40% of advisors are poised to retire within the next ten years.”

This industry challenge underscores why Cassaday & Company has made succession planning a cornerstone of our commitment to clients. Cassaday & Company has had a comprehensive succession agreement in place since 2006, with next-generation leaders like Alex and Drew, working alongside our highly trained and experienced team to ensure a seamless continuity for our clients’ multi-generational financial plans. We believe that having a viable succession plan is part of our fiduciary duty, providing families with confidence that their trusted advisory relationship will span generations.

The Methodology:

The Forbes Next-Gen Wealth Advisors ranking, developed by SHOOK Research, is based on an algorithm of qualitative criteria—mostly gained through telephone and in-person due diligence interviews—and quantitative data. The ranking highlights advisors across the nation, ranked state-by-state, born in 1984 or later. Decisions are made based on a proprietary algorithm of qualitative and quantitative criteria, including:

• In-person interviews
• Industry experience
• Compliance records
• Revenue produced
• Assets under management

By the Numbers:

The Forbes Best-In-State Next-Gen list debuted in 2019. For the 2025 Best-In-State Next-Gen ranking, SHOOK Research received 49,859 nominations,

• Received 49,859 nominations, based on high thresholds and qualifications
• Invited 28,226 to complete online survey
• Completed 24,181 telephone interviews
• Interviewed 6,531 advisors in-person
• Conducted 1,553 web-based interviews
• Considered 4,653 individuals for the Next-Gen ranking

Cassaday & Co. is honored that Alex and Drew have been recognized on this year’s list. This recognition is a testament to their tremendous commitment to their clients. The continued confidence and trust that our clients place in Cassaday & Co. is the reason we are able to be recognized as a leader in the wealth management industry. We are proud of these distinctions, but are even prouder to be able to offer high-quality, personalized service to our clients and their loved ones.

Award History:

Alex and Drew have been honored in 2019, 2022, 2023, 2024, and 2025.

To see the full Best-In-State Next-Gen rankings list, click here.
For more on the methodology and criteria for this award, click here.

Award Disclosures:

Forbes/SHOOK America’s Top Next-Generation Best-In-State Wealth Advisors (2019-2025) – This list was developed by SHOOK Research. Advisors considered for this ranking were born in 1984 or later with a minimum 4 years relevant experience; advisors have: built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures: telephone and in-person interviews, client retention, industry experience, credentials, review of compliance records, firm nominations; and quantitative criteria, such as: assets under management and revenue generated for their firms. Investment performance is not a criteria because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and not representative nor indicative of any one client’s experience, future performance, or investment outcome. Neither Forbes nor SHOOK Research receives compensation in exchange for placement on the ranking. Rankings and recognition from Forbes are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement of the advisor. Award consideration was based on data covering a trailing 12-month period ending March 31st.