I’m writing this blog today to address the flurry of hollow awards that exist in the financial advisor space. As a fee-only fiduciary serving many families based in Cincinnati and across the country, I received an invitation to participate in the 5-Star RIA Firms ranking. This award claims to recognize the top wealth managers in the industry.
Top? The rankings, the invitation tells us, will be based on three things: assets under management (AUM), AUM growth, and the number of new clients added over the next 12 months. Oh—and only firms with $10 billion or more in assets will be considered.
So let’s get this straight: the winners will be firms that are already enormous, that grow quickly, and that gather assets efficiently. That’s it. No mention of client satisfaction, advisor credentials, depth of service, or the firm’s ability to help families navigate life’s biggest decisions. Just size and speed.
If you’re searching for an investment advisor near me or a fee-only financial advisor you can trust, ask yourself: are these the right benchmarks? Shouldn’t the focus be on things like personalized advice, transparency, and long-term planning—not how fast a firm can grow its AUM?
Here’s the problem. These kinds of rankings—whether it’s “Top 100 Advisors,” “Best Wealth Managers,” or the infamous “Five-Star Advisor” lists—are often more about marketing than meaning. Some are even pay-to-play: advisors can pay a fee to display the badge on their website, even if the criteria for selection are vague or irrelevant.
Take the “Five Star Wealth Manager” award, for instance. Many consumers assume it’s earned through rigorous vetting, but the process often involves a marketing component that advisors pay for. The same goes for inclusion in many local “Best Of” lists where advisors campaign for votes like a popularity contest. None of this tells you how well they actually serve clients.
At Total Wealth Planning, we believe in something very different. We’re a fee-only fiduciary, meaning we don’t sell products, take commissions, or push services you don’t need. We don’t chase growth; we chase results that align with your goals.
So next time you see a flashy award, remember: it might be a trophy bought, not earned. Look instead for advisors who are credentialed, client-focused, and transparent—like those at Total Wealth Planning.
Because in a profession built on trust, integrity beats marketing every time.
About the author.
Rob Siegmann is a partner and chief operating officer of Total Wealth Planning, a fee-only fiduciary financial planning firm in Cincinnati (Blue Ash), Ohio. He is often quoted in industry publications such as The Cincinnati Business Courier, Wall Street Journal, Yahoo finance, Financial Planning Magazine, Cincinnati Enquirer as well as others. Rob is grateful to serve others, including his team of CERTIFIED FINANCIAL PLANNER™ practitioners and the clients they serve, so they can live their greatest life through well informed and prudent financial decisions. Rob can be reached at rsiegmann@twpteam.com.
