WELLESLEY, Mass--(EON: Enhanced Online News)--Greg Miller, CPA, CEO and Co-Chief Investment Officer of Wellesley Investment Advisors, Inc. was named to Barron’s list of the “Top 100 Independent Financial Advisors” in its August 26, 2013 issue. This is the financial magazine’s seventh annual ranking of top independent advisors. The group’s assets under management grew an average of 16% over the past 12 months through June 30, the result of solid investment returns and new business. That growth rate is up from the 12% annual pace posted for advisors on Barron’s 2012 list. These ranked advisors, typically backed by sizeable teams of financial-service professionals, increased average assets under management to $3.6 billion in 2013, up from $3.1 billion one year ago.
“Over the last five years, Wellesley Investment Advisors’ growth in the management of convertible bonds has increased more than ten-fold to assets under management exceeding $1.5 billion.”
In response to being named one of Barron’s “Top 100 Independent Financial Advisors,” Greg Miller said, “Over the last five years, Wellesley Investment Advisors’ growth in the management of convertible bonds has increased more than ten-fold to assets under management exceeding $1.5 billion.
"We believe the growth in Wellesley’s assets demonstrates investors’ increasing concerns about bear markets and their desire for investments that maintain the safety of bonds with the potential capital appreciation of equities. The fact that bear markets have occurred at least once every decade for over 100 years, with most decades having two or three bear markets, became even more apparent to investors in recent years. Furthermore, convertible bonds are one of the few fixed income vehicles that have historically performed well during rising interest rate periods.
"We are especially proud of the fact that Barron’s, a weekly periodical that many investment professionals consider to be the best, has for the third consecutive year named Wellesley Investment Advisors a Top 100 Independent Financial Advisor.”
To be nominated for listing, advisors must complete a 102-question survey about their practice. The resulting pool of nominated advisors is then screened to determine the top 100 practitioners. The editors at Barron’s focus on total assets under management and revenue generated by the advisor’s team, as well as the overall quality of the practice. Investment performance is not an explicit criterion, because clients’ investment goals vary. In many cases, the objective is preservation of wealth, rather than market-trouncing returns.
“Barron’s goal in publishing its rankings is to shine a spotlight on the best advisors,” said Ed Finn, editor and president of Barron’s, “with an eye toward raising standards in the industry. The rankings serve two types of Barron’s readers. For wealth management professionals, who comprise about one-quarter of our readership, they serve as an industry scorecard. For individual investors, who make up about three-quarters of our readership, our advisor rankings are a tool to help them in the process of finding financial guidance.”
Founded in 1921, Barron’s is published by Dow Jones, which is owned by News Corp.
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