In the coming weeks, the Russian Cabinet and state Duma will draw up proposals for cuts to the Russian state budget for 2015. According to Russian Finance Minister Anton Siluanov, the government could cut 10 percent of funding to all sectors except defense. This drastic proposal comes as new economic indicators show that Russia’s economy is declining more quickly than expected. The budget cuts will exacerbate anxieties about Russia’s economy and financial sector and threaten the economic well being of the Russian population, the Kremlin’s elite, the oligarch class and the state’s strategic projects. Thus, the Kremlin will prioritize various players and sectors while seeking a longer-term de-escalation with the West that could relieve some of the economic pressure on Russia.
Current Affairs: Russia Prepares to Slash its Budget
Financial Industry News | 01.01.2015
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HH ranked No. 8 on the 2023 CNBC Financial Advisor 100 list
Last received September 2023 based on 12/31/2022 data.
CNBC enlisted data provider AccuPoint Solutions to assist with ranking.
Disclaimer
The rating is not indicative of Halbert Hargrove Global Advisors future performance. Halbert Hargrove Global Advisors did not pay a fee to participate in the survey.
Methodology
CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for this year’s FA 100 list.
The methodology consisted of first analyzing a variety of core data points from AccuPoint Solutions’ proprietary database of registered investment advisors. This analysis started with an initial list of 40,646 RIA firms from the Securities and Exchange Commission regulatory database. Through a process, the list was eventually cut to 812 RIAs with those firms meeting CNBC’s proprietary criteria.
CNBC staff sent an extensive email survey to all those firms that met the initial criteria to gather more details. In turn, those advisory firms filled out a comprehensive application in regard to their practice. The CNBC team verified that data with those firms and with the SEC regulatory database. AccuPoint once again applied CNBC’s proprietary weighted categories to further refine and rank the firms, ultimately creating the list of the top 100 firms.
The primary data points used in the analysis were reviewed, either as a minimum baseline or within a range, eliminating those firms that did not meet CNBC’s requirements. Once the initial list was compiled, weightings were also applied accordingly. These data points included:
- Advisory firm’s regulatory/compliance record. (editor’s note: Each advisory firm’s CRD number was checked for validity. Any firm that had a disclosure on its SEC ADV was automatically disqualified from the ranking)
- Number of years in the business.
- Number of certified financial planners.
- Number of employees.
- Number of investment advisors registered with the firm.
- The ratio of investment advisors to total number of employees.
- Total assets under management.
- Percentage of discretionary assets under management.
- Total accounts under management.
- Number of states where the RIA is registered.
- Country of domicile.