InvestmentNews is proud to salute 100 local heroes — the best of the best in their respective regions.
The winners of the inaugural Top Regional Fee-Only RIAs were selected based on ensuring exemplary client service and expertise, and on data reported to the Securities and Exchange Commission on Form ADV. The full methodology can be viewed here.
Prowell Financial Management is an award winner in the Northeast region. The $6.4 billion AUM firm, based in Exton, Pennsylvania, is a family-run, family-focused business.
“We understand families,” says Courtney Kauffman, certified financial planner at Prowell, which was started more than three decades ago by Kauffman’s father, Mark.
“We get the difficulty of managing family relationships while running a company because that’s not always the easiest thing in the world. We bring a sense of comfort to our clients," Kauffman said.
Part of being a trusted firm to its clients is their awareness of its limitations. It’s not because of the size of their team or because they can’t do something but because they might have someone better suited for the client.
“We’ve made sure that we have surrounded ourselves with amazing professionals in the field,” Kaufmann says. “Whether that’s legal work, accounting or whatever a high-net-worth family would need, so that any recommendation we give, we truly believe in.”
In terms of a state-by-state comparison, California leads the way with 447 firms that manage $407.8 billion in AUM. In second place was Texas with 208 firms and $313.7 billion in AUM. In third and fourth place were New York and Illinois, with 145 firms and 121 firms, and $160.7 billion and $94.6 billion in AUM, respectively.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
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