Five Star Professional Honors Matt Stadelman of 1080 Financial Group with the 2017 Five Star Wealth Manager Award
Award winners represent a select group of wealth managers in the Los Angeles area.
Sherman Oaks, CA – Five Star Professional is pleased to announce Matt Stadelman, 1080 Financial Group, has been chosen as one of Los Angeles’ Five Star Wealth Managers for 2017.
“It is an honor to be recognized by my peers for this award. 1080 Financial was formed to help lead the change in the financial services industry. We are an independent RIA operating on the fiduciary standard. Our firm is committed to servicing multiple generations of clients, including those just getting started saving,” said Matt Stadelman of 1080 Financial Group. “We (1080 Financial) thank our clients for their loyalty and trust in us. They are family.”
Five Star Professional partnered with Los Angeles magazine to recognize a select group of Los Angeles-area wealth managers who provide quality services to their clients. Matt Stadelman was featured, along with other award winners, in a special section of the January issue.
“I got into this industry to change it. The old model (brokerage) is broken. The client expects to be cared for but the industry allows for a thinly veiled version of that, the suitability standard. A fine print exemption doesn’t change the fact that the larger majority of people belong under the care of a fiduciary adviser,” said Matt Stadelman. “1080 Financial combines the latest technology with personal service from a true fiduciary adviser.”
The Five Star Wealth Manager award program is the largest and most widely published wealth manager award program in the financial services industry. The award is based on a rigorous, multifaceted research methodology, which incorporates input from peers and firm leaders along with client retention rates, industry experience and a thorough regulatory history review.
“Based on our evaluation, the wealth managers we recognize are committed to pursuing professional excellence and have a deep knowledge of their industry. They strive to provide exemplary care to the people they serve,” stated Dan Zdon, CEO, Five Star Professional.
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. Active as a credentialed professional in the financial services industry 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 customer complaints filed against them [settled or pending] 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 filed with a regulatory authority; D. Filed for personal bankruptcy; E. 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. 2,357 Los Angeles wealth managers were considered for the award; 287 (13 percent of candidates) were named 2017 Five Star Wealth Managers.