Philadelphia Five Star Wealth Managers

By Peter L. Klenk, Esq., Estate Planning Attorney

I am proud to have once again been named a Philadelphia Five Star Wealth Manager through my area of practice; being a Philadelphia Estate Planning Attorney. People have asked me about the award and how the lawyers are selected. This short article will answer that question.

First, I did not pay to be nominated or selected! The first time I was selected I was surprised, as I had no idea there was a section for Trusts and Estates Lawyers when naming the Philadelphia Wealth Managers.

The process began when a survey found that over half of the consumers in Philadelphia found it difficult to find a wealth manager they trusted or could rely on. Wealth Managers in this case was defined as individual who helped you manage your financial work and/or implement aspects of your financial strategies. Common examples of wealth managers are financial advisors, financial planners, investment advisors, tax advisors, and…yours truly…Estate Planning Attorneys.

The Selection Process is done by survey, both mail and telephone, to approximately 1 in 4 high-net-worth households (over 172,000) and all identified FINRA registered representatives (over 15,500 professionals) within the Philadelphia area.

On the surveys, recipients are asked to evaluate only wealth managers whom they know through personal experience and to evaluate them based upon nine criteria: customer service, integrity, knowledge/expertise, communication, value for fee charged, meeting of financial objectives, post-service, quality of recommendations and overall satisfaction.

Scoring included both positive and negative evaluations and only wealth mangers with more than five years of experience were considered.

Next, each candidate was reviewed for complaints or actions and then a blue ribbon panel comprised of individuals from within the industry reviewed each person. Although panelist comments were incorporated into the final score, safeguards were built into the review process to reduce the ability of panel members to influence the composition of the final list on the basis of company affiliation.

I am proud to have made the final cut! The resulting list of 2011 Five Starr Wealth Managers represents less than 2 percent of the wealth managers in the Philadelphia area. Only 523 of the top-scoring wealth managers made this year’s list.

The goal of the Law Offices of Peter Klenk is to provide clients excellent estate planning services. Being recognized as a Five Star Wealth Manager is a tangible way to see our hard work is paying off.

Our website provides more information about our firm and more information about the services provided by our Estate Planning Attorneys. Our firm focuses exclusively in the area of estate planning, probate, and the litigation surrounding estate planning and probate, so if you need assistance in developing your Estate Plan please call one of our Estate Planning Lawyers for a free consultation. We have Estate Planning Attorneys in Pennsylvania, New York, New Jersey, Minnesota and Florida. Estate Planning is all our Estate Planning Lawyers do!