Biblically responsible investing firm, Inspire Investing, was named one of USA Today’s Top 500 Financial Advisory Firms for 2023. This inaugural ranking is presented by USA Today in partnership with Statista Inc., the world-leading statistics portal and industry ranking provider. Out of 32,000 registered investment advisors, Inspire Investing made the top 500 based on both short- and long-term growth of Assets Under Management and recommendations from clients and peers. USA Today put together the list as a resource for those seeking to invest their money. They cited that financial experts recommend a registered investment advisor as the best place to start due to their fiduciary duty (always acting in the client’s best interests), and the fact that they charge fees rather than sales commissions.
“Being chosen as a top 500 firm is evidence of our incredible staff, passionate investors and the work God is doing in the faith-based investing industry,” said Robert Netzly, CEO of Inspire Investing. “We are so thankful to be a part of God’s plan to change this industry from the inside out. Faith-based investing is exploding and showing that our investors want to glorify God in all of life’s details, including their portfolios.”
The full list of 500 firms can be viewed on the USA Today website.
USA Today and Statista selected Best Financial Advisory Firms 2023 based on two dimensions: recommendations by clients and peers and a firm's growth of Assets Under Management (AUM).
Recommendations were collected via an independent survey sent to over 20,000 individuals. While clients were able to evaluate and recommend their RIA firm, financial advisors working for an RIA firm were asked to consider a scenario where their own firm could not take on a client and had to recommend another RIA firm they appreciate.
The development of AUM was analyzed both, short and long term based on publicly available data. For the short-term view, the growth of AUM over a twelve-month period was calculated, from January 2022 to January 2023. For the long-term view, the growth of AUM over a five-year period was calculated, from 2018 to 2023.
In the consideration for the top 500 RIA firms, recommendations had a weight of 20% while development of AUM had a weight of 80% (short term and long-term growth were equally weighted) to derive the final score.