MORRISTOWN, N.J., Dec. 10, 2019 /PRNewswire/ — Private Advisor Group was recently recognized as one of the 200 fastest-growing Registered Investment Advisors in the U.S. by WealthManagement.com, an Informa business.
The WealthManagement.com 2019 Thrive Award was compiled by measuring the percentage revenue growth over the previous three years. Average revenue growth of the top 200 list was three times the industry average, as calculated by McKinsey & Company’s PriceMetrix.
“The WealthManagement.com Thrive Awards is unlike any other recognition program,” said WealthManagement.com editor-in-chief David Armstrong. “It recognizes advisors who are on the way up—those who have proven themselves skilled and ambitious by virtue of three solid years of revenue growth. Why revenue growth? We believe it’s one of the key metrics that demonstrate advisor success in providing services of real value to clients and prospects—and vital to building a sustainable business for the future. The WealthManagement.com 2019 Thrive Awards list is a publicly visible tribute to that success.”
Private Advisor Group has experienced tremendous growth in its RIA business over the past three years, represented by the number of advisors and net new assets added to the firm. They attribute the success to their expanded services offering, which has made them an even more attractive landing spot for new advisors while increasing efficiencies for existing advisors. In 2019, PAG reinvented their service infrastructure, which included adding the latest technology available in the industry today. Further service enhancements are expected throughout 2020.
“We are humbled by this recognition from WealthManagement.com and attribute the growth, in part, to leveraging the latest advancements in technology which has enabled us to provide more value and service to a greater number of advisors and clients,” says Pat Sullivan, managing director and co-founder, Private Advisor Group. “Having said that, the greater part of every success we have had to this point has been earned by the collective teamwork of our Private Advisor Group family. They come in every day focused on creating seamless transitions for our new advisors and relentlessly finding new ways to better serve our clients,” says Sullivan.
To qualify for WealthManagement.com 2019 Thrive Awards list, applicants had to be based in the U.S., offer financial services to individual clients, and have a minimum revenue of $100,000. Applications were accepted from individuals, teams, and companies of all types and sizes – including solo advisors, ensembles, practices, family offices, RIAs, and IBD reps.
The complete 2019 Thrive Awards list is available on WealthManagement.com and will be featured in the December 2019 issue of Wealth Management magazine.
About Private Advisor Group
Private Advisor Group (PAG) is one of the fastest-growing Registered Investment Advisors in the U.S. Founded by advisors John Hyland and Pat Sullivan, PAG has quickly become an industry-standard in attracting advisors and RIA firms that have a shared belief in a culture of compliance, a client-first approach and a spirit of giving back to the communities in which they live and work.
In 2019, PAG was ranked #3 on Barron’s 2019 Top 50 RIA Firms, recognized by Financial Times as a Top Registered Investment Adviser on their FT300, and recently received the WealthManagement.com 2019 Thrive Award which recognizes the top 200 fastest growing RIAs in the U.S.
The firm has grown to over $19 billion in assets under management (AUM) as of June 30, 2019. For more information, visit www.privateadvisorgroup.com.
WealthManagement.com, an Informa business, provides everything wealth professionals need to know to stay knowledgeable about the industry, build stronger relationships, improve their practice, and grow their business—all from one site.
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