Broker Check

2017 Five Star Wealth Manager Award

Five Star Professional Honors Rebecca Hergenroeder, Lisa Hergenroeder and Donald Burke of Hergenroeder Financial Advisors, Inc. with the Five Star Wealth Manager Award

Timonium, MD – Five Star Professional is pleased to announce Rebecca Hergenroeder, Lisa Hergenroeder and Donald Burke as three of Baltimore’s Five Star Wealth Managers for 2017.

“It is truly an honor to be selected for the Five Star Professional Award. It is an on-going recognition of our commitment to our clients in providing the best possible personalized service we can,” said Rebecca Hergenroeder. “Between my love for economics and finance, along with my desire to help people, this profession became the perfect fit. It is a pleasure to go to work every day, looking forward to the next time I can potentially have a positive impact on someone’s life.”

Five Star Professional partnered with Baltimore magazine to recognize a select group of Baltimore-area wealth managers who provide quality services to their clients. Rebecca Hergenroeder, Lisa Hergenroeder and Donald Burke are featured, along with other award winners, in a special section of the February issue.

“It is a privilege to serve our clients with the extensive experience and professionalism exhibited by the advisors here at Hergenroeder Financial Advisors, Inc. It is a wonderful feeling to have opportunities to positively impact the lives of our clients and their families. I thoroughly enjoy the personal interaction with both clients as well as colleagues through this business,” said Donald Burke.

The Five Star Wealth Manager award program is based on a rigorous multifaceted research methodology, which incorporates input from the largest and most widely published wealth manager award program in the financial services industry. The award is based on a rigorous, multifaceted research methodology, which incorporates input from peers and firm leaders along with client retention rates, industry experience and a thorough regulatory history review.

“I wanted to be in a career where I could help people,” said Lisa Hergenroeder. “I had an interest in numbers, business, and psychology. I figured I could help people with their money. It’s been very rewarding to see the progress we’ve made together over the last twenty years with many of the same clients. It has been a pleasure to work with such a great group of clients who continue to put their trust and confidence in us and in the advice we provide. We very much appreciate the many referrals we have received over the years from existing clients.”

“Based on our evaluation, the wealth managers we recognize are committed to pursuing professional excellence and have a deep knowledge of their industry. They strive to provide exemplary care to the people they serve,” stated Dan Zdon, CEO, Five Star Professional.

The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria.

Eligibility criteria – required: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Active as a credentialed professional in the financial services industry for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not: A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three customer complaints filed against them [settled or pending] with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one client’s experience; C. Individually contributed to a financial settlement of a customer complaint filed with a regulatory authority; D. Filed for personal bankruptcy; E. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations.

Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their client’s assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future.

For more information on the Five Star award and the research/selection methodology, go to 1,093 Baltimore wealth managers were considered for the award; 355 (33 percent of candidates) were named 2017 Five Star Wealth Managers.