The nation’s Top 1,200 Financial Advisors grew their way to a new milestone.
The advisory teams that made it into this year’s ranking reported total assets under management of $6.1 trillion, for an average of $5.1 billion per team—both record highs for the dozen years during which Barron’s has ranked the Top 1,200. Last year’s ranking had $5.6 trillion in total AUM and $4.6 billion average AUM per team. In the past decade, the 1,200 cohort has increased its total AUM by 135% and its average revenue by 147%.
Amid all the growth, several advisors made big moves in this year’s rankings, including W Janet Dougherty of Cresset in Chicago, who re-entered the ranking at No. 37 in Illinois after moving from J.P. Morgan . Meanwhile, Ash Chopra of Syon Capital in San Francisco jumped 47 spots in California to No. 47; Hillary Cullen of UBS Private Wealth Management in New York rose 20 spots to No. 77; and Jon Neuhaus of Morgan Stanley Private Wealth Management in Los Angeles moved up 14 spots to No. 6 in California. Fourteen percent of the Top 1,200 advisors didn’t appear in the ranking last year.
Teams Are a Trend
Top advisory practices have ridden a wave of healthy markets, but that is only part of the growth story. Whereas a decade ago many of the best advisors were sole practitioners with modest support staff, now advisors are working in increasingly complex team configurations.
These teams are allowing advisors to provide an array of wealth management services in addition to the investing expertise that usually sits at the heart of their offerings. As teams acquire more skill in estate planning, taxes, lending, and other value-adds, they are attracting and retaining more business.
For investors looking for a new financial advisor, the trend toward expansive teams is good news. For starters, larger teams have built-in redundancy that helps with succession in the event that advisors depart the practice. A team structure also creates a great training environment for younger, more diverse wealth managers—a wellspring of workers who will be sorely needed in the coming years.
As many of the advisors who built the nation’s best teams enter the late innings of their careers, an advisor shortage is brewing. A recent McKinsey study says the advisor workforce may be short 100,000 advisors by 2034.
How We Do It
The Top 1,200 is Barron’s largest advisor ranking, and it’s actually 51 individual rankings—one for each state plus Washington, D.C., with the number of advisors represented in each determined by its relative population and wealth. Advisors who wish to be considered for the ranking complete a 100-plus-question survey about their businesses, and this year’s ranking had more than 7,600 applicants, up 16% from last year.
Like all of Barron’s advisor rankings, this Top 1,200 list uses both quantitative and qualitative measures . Client assets managed by an advisor, along with the growth of those assets, are a good signifier of the general health of a practice. We also use advisors’ revenue numbers as a proxy for client satisfaction—clients vote on the way advisors are serving them with the fees they’re willing to pay. Last, we evaluate a range of qualitative elements, including regulatory records, advanced credentials and designations on a team, and the nature and structure of an advisor’s team.
We hope this year’s list will give investors a great starting point for finding the best advisor for their needs.
Corrections & Amplifications : Jack Taylor of Truist Investment Services is No. 6 in North Carolina in Barron’s 2025 Top 1,200 Financial Advisors ranking. The advisor originally listed in that spot was removed from the ranking. All the other advisors ranked in that state moved up one place, and R. Neil Stikeleather of Merrill Wealth Management was added to the list at No. 30. Read more about our ranking and see a link to the corrected list at barrons.com/AdvisorRanks .
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The social-media company’s revenue increased 14%, falling short of estimates.
Pinterest shares tumbled after the company projected that revenue growth would slow in the first quarter, amid an advertiser pullback that weighed on its fourth-quarter earnings.
Shares slid 18.5% to $15.10 in after-hours trading after closing the market session down 2.9% at $18.54.
Pinterest reported a 14% increase in fourth-quarter revenue to $1.32 billion, up from $1.15 billion a year earlier, but short of analysts’ estimate of $1.33 billion, according to FactSet. The company posted 17% revenue growth in the third quarter.
The company expects growth to decelerate further in the current first quarter, projecting growth between 11% and 14%. It’s forecasting revenue between $951 million and $971 million.
Chief Executive Officer William Ready said the company needs to broaden its revenue mix and accelerate sales going forward.
“We are not satisfied with our Q4 revenue performance and believe it does not reflect what Pinterest can deliver over time,” he told analysts on a call Thursday. “We are moving with urgency to return over time to the mid-to-high-teens growth, or better than what we have been consistently delivering.”
Pinterest on Thursday recorded a profit of $277.1 million, or 41 cents a share, compared with its profit of $1.85 billion, or $2.68 a share, a year earlier. The $1.85 billion profit in 2024 included a $1.6 billion benefit from deferred tax assets.
Stripping out certain one-time items, Pinterest logged adjusted earnings of 67 cents a share, in line with analyst expectations, according to FactSet.
Ready said the company continues to see headwinds from larger retailers pulling back on advertising spending to protect their margins amid the impact from President Trump’s tariffs.
“We saw continued softness from this cohort of large retailers,” Ready said. “While we see opportunity over the long term, the near-term outlook for this cohort on our platform remains pressured given these headwinds.”
Ready said the company has expanded its footprint among mid-market and small-to-medium business advertisers, as well as international businesses. Still, he said Pinterest had a ways to go to offset the headwinds from larger advertisers, which may become even more pronounced in the current quarter.
Chief Financial Officer Julia Donnelly added that the company is looking to increase its investments in sales and research and development related to artificial-intelligence following the launch of its restructuring effort in January. Pinterest said last month that it would cut about 15% of its workforce, or approximately 700 jobs.
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