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Center for Financial Planning, Inc. Announces Multiple Award Recipients, Including Top Women

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Recognized as Best Place to Work, this Detroit-area wealth management firm boasts top female leaders on their team


​Center for Financial Planning, Inc.® (“The Center”), a privately held wealth management firm in Southfield, Michigan, today announced a series of awards that the firm has received over the past month. Center for Financial Planning has 12 CERTIFIED FINANCIAL PLANNER™ professionals on staff and 30 total employees. The firm was the recipient of three individual achievement awards and one workplace award from publications, adding to their long list of accolades.

WOMEN STAND OUT IN THEIR FIELD

Center for Financial Planning, Inc., which is celebrating its 35th anniversary this year, was recognized with several awards in the financial services industry, with women advisors blazing the trail.

·      Forbes 2020 Top Women Wealth Advisors list: Sandra Adams, CFP®

·      Forbes 2020 Top Women Wealth Advisors list: Laurie Renchik, CFP®, MBA

·      Financial Times 2020 Top Advisor: Timothy Wyman CFP®, JD

“The Center has a long history of women leadership. In fact, two of our three founders in 1985 were women.

The Center has a long history of women leadership. In fact, two of our three founders in 1985 were women. We take great pride in hiring and mentoring extraordinary women. Today, we are very fortunate to have half of our partner group consisting of women for the benefit of our clients and team members.

Tim Wyman, Managing partner & CFP®

Center for Financial Planning, Inc.®

“We take great pride in hiring and mentoring extraordinary women,” said  Tim Wyman, Managing partner and CFP®.  “Today, we are very fortunate to have half of our partner group consisting of women for the benefit of our clients and team members.”

“This year’s awards demonstrate the continued leadership, contribution and outstanding character of our team. It’s an honor to receive this recognition and a reflection of our entire team’s dedication to embracing leadership opportunities and personal growth,” said Laurie Renchik, Partner, CFP®, MBA.

BALANCE OF WORK AND PLAY

Over the years, the Center has been recognized through multiple local and national awards for its team-first culture, with focused team building and career development opportunities, and an inclusive environment with healthy work/life balance and activities to drive team engagement and promote fun. The most recent team award is:

·      InvestmentNews 2020 Best Place to Work for Financial Advisors

“I think for any company to be successful there must be a balance of work and play,” said Wyman. “That’s why our team continually focuses on cultivating an environment that attracts the right people. Part of a firm’s success is finding people that truly believe in your mission. So when you find those individuals, it’s important to keep them. Each employee benefits from a competitive salary, a strong customizable benefits package, a generous vacation policy, and a comfortable and team-oriented space that employees enjoy working in. Additionally, each team member has a professional development plan to help them achieve career objectives and grow within their role.”

“Team member participation is encouraged in our health and wellness committee, a charitable committee and a creativity committee.  Employees join in Center CARES, volunteering their time and talents, supporting numerous local charitable organizations,” added Renchik.

ABOUT CENTER FOR FINANCIAL PLANNING, INC.

Located in Southfield, Mich., Center for Financial Planning, Inc.® (“The Center”) has been committed to assisting people with life’s most important financial goals since 1985. With 12 financial planners offering various specialties, 29 team members and over $1 billion in assets under management, The Center partners with clients in 40 states and six countries to help them achieve their individualized financial goals. The firm has been ranked as #10 on Crain’s Detroit Business 2019 Cool Places to Work list and was also honored in 2017 and 2018. The Center has also been included on the following lists: InvestmentNews’ Best Places to Work for Financial Advisors (2018, 2019, 2020) and Detroit’s Best and Brightest Companies to Work For (2017). The Advisors at The Center have been recognized by Forbes, Financial Times, and Investment News throughout the years. The firm has been recognized by Financial Times 300 Top Registered Investment Advisors (2015, 2017, 2018) and InvestmentNews Best Practices Award: Advisor Technology (2015, 2017).

Center for Financial Planning, Inc. is a Registered Investment Advisor and independent of Raymond James Financial Services. Securities are offered through Raymond James Financial Services, Inc. (member FINRA/SIPC). Investment advisory services are offered through Center for Financial Planning, Inc. Center for Financial Planning, Inc. ® is not a registered broker/dealer and is independent of Raymond James Financial Services. For more information, please visit http://www.centerfinplan.com/.

Media Contact:
Leesy Palmer
Impact Communications, Inc.
913-649-5009
[email protected]
Branch address:
24800 Denso Drive, Suite 300
Southfield, MI 48033
248-948-7900

Investment News “2020 Top 50 Best Places to Work for Financial Advisers”, April 2020. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two-part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. The award is not representative of any one client’s experience, is not an endorsement, and is not indicative of advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Raymond James.

he Financial Times 400 Top Financial Advisors is an independent listing produced annually by Ignites Research, a division of Money-Media, Inc., on behalf of the Financial Times (April 2020). To qualify for the list, advisers had to have 10 years of experience and at least $300 million in assets under management (AUM) and no more than 60% of the AUM with institutional clients. The FT reaches out to some of the largest brokerages in the U.S. and asks them to provide a list of advisors who meet the minimum criteria outlined above. These advisors are then invited to apply for the ranking. Only advisors who submit an online application can be considered for the ranking.  In 2020, roughly 1,040 applications were received and 400 were selected to the final list (38.5%).  The 400 qualified advisers were then scored on six attributes: AUM, AUM growth rate, compliance record, years of experience, industry certifications, and online accessibility. AUM is the top factor, accounting for roughly 60-70 percent of the applicant’s score. Additionally, to provide a diversity of advisors, the FT placed a cap on the number of advisors from any one state that’s roughly correlated to the distribution of millionaires across the U.S. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. The FT, Ignite Research, and Money-Media, Inc. are not affiliated with Raymond James.

The Financial Times FT 300 Registered Investment Advisors 2018 award had about 39.5% of the 760 advisor applicants being recognized as a Registered Investment Advisor. The FT used the database of RIAs who are registered with the U.S. Securities and Exchange Commission (SEC) and selected those practices reporting to the SEC that had $300 million or more in assets under management. Qualifying RIA firms complete an application that gave more information about their practices. That information was augmented with their own research on the candidates, including data from regulatory filings. The FT generated an internal score for each applicant based on six broad factors: advisor assets under management, AUM growth rate, the firm’s years in existence, advisors’ industry certifications (CFA, CFP, etc.), compliance record, and online accessibility. AUM comprised approximately 70 to 75 percent while asset growth comprised roughly 15 to 20 percent of each RIA’s score. Additionally, to provide a diversity of advisors, the FT placed a cap on the number of RIA’s from any one state that’s roughly correlated to the distribution of millionaires across the U.S. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of future performance. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. The FT is not affiliated with Raymond James.

Investment News Top 50 Best Places to Work for Financial Advisers, April 2019. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two-part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. The award is not representative of any one client’s experience, is not an endorsement, and is not indicative of advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Raymond James.

Best Companies Group of Harrisburg, Pa., produced the ranking of Cool Places to Work in Michigan for Crain’s.  Any Michigan company with at least 15 employees could participate. First, the employer provided detailed information on its benefits and policies; next, its employees answered an 80 question confidential survey about workplace culture, company leadership and other aspects of work. The client survey accounted for 75% of the final ranking Companies paid for the survey; not all companies that applied were chosen as a cool workplace. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of advisors future performance.  No fee is paid in exchange for this award/rating. Raymond James is not affiliated with Best Companies Group of Harrisburg, PA or Crain’s.

The Forbes ranking of America’s Top 1,000 Women Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of 7 years of experience and weighing factors like revenue trends, AUM, compliance records, industry experience and best practices learned through telephone and in-person interviews. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Research Summary (as of April 2019): 32,000 nominations were received based on thresholds (9,654 women) and 1,000 won. This ranking is not indicative of advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Forbes nor SHOOK receive a fee in exchange for rankings. Raymond James is not affiliated with Forbes or Shook Research, LLC.  Please visit https://www.forbes.com/top-women-advisors/#28abc5bd51f4 for more info

InvestmentNews Best Practices Award – This ranking is not based in any way on the individual’s abilities in regards to providing investment advice or management.  This ranking is not indicative of advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience.  Raymond James is not affiliated with Investment News.

Source: Center for Financial Planning, Inc.