First Fiduciary Portfolio Manager, Bill Henry, was again honored as a Five Star Wealth Manager. Bill’s selection, his third, was announced in The Plain Dealer, which partnered with Five Star Professional, a third party research firm tasked with finding wealth managers who go above and beyond to provide quality services to their clients. Client retention rates, client assets administered, firm review, and a favorable regulatory history are a few of the criteria used to identify the best of the best. Self-nominations are not accepted. 1,692 Cleveland area wealth managers were considered for the award; 48 (3% of candidates) were named Five Star Wealth Managers.
In today’s volatile environment, it is harder than ever to navigate one’s financial world. Whether it is determining the optimal asset allocation to suit a client’s needs, carefully investing and monitoring investment holdings, implementing an effective tax minimization strategy, or creating and following an achievable financial plan, Bill devotes his efforts to the services deemed most important to each client. In addition, Bill offers his opinions and creative suggestions to help clients solve their unique problems and situations.
Because Five Star Professional believes this is a good place to start, they have partnered with The Plain Dealer to help consumers find wealth managers and investment professionals in their area. Each award candidate undergoes a thorough research process (detailed below) before being considered for the final list of award winners.
Eligibility Criteria
Credentialed with appropriate state or industry licensures.
Actively employed as a credentialed professional in the financial services industry for a minimum of five years.
Favorable regulatory and complaint history review.
Accepting new clients.
One-year client retention rate.
Five-year client retention rate.
Number of client households served.
Recent personal production and performance (industry specific criteria).
Education and professional designations/ industry and board certifications.
Pro Bono and community service work.
First Fiduciary’s Bill Henry Honored as Five Star Wealth Manager
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Actively licensed as a registered investment adviser or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one client’s experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their client’s assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com. 1,692 Cleveland-area wealth managers were considered for the award; 48 (3% of candidates) were named 2021 Five Star Wealth Managers. 2020: 1,548 considered, 62 winners; 2019: 1,558 considered, 71 winners; 2018: 1,437 considered, 53 winners; 2017: 872 considered, 117 winners; 2016: 828 considered, 123 winners; 2015: 1,595 considered, 130 winners; 2014: 1,838 considered, 151 winners; 2013: 1,485 considered, 169 winners.