ASHEVILLE, N.C. – Parsec Financial has been recognized as the #1 Registered Investment Advisor (RIA) in North Carolina in InvestmentNews’ Largest RIA rankings, which published June 2. This is the 3rd consecutive year that Parsec Financial has been the top RIA in North Carolina.
The annual listing of leading RIA’s cited Parsec with $1.722 billion assets under management and over 4,400 client accounts. “It is an honor to be included on the InvestmentNews list,” says Rick Manske, CEO. “It is meaningful to us because it is a reflection of the growing client base that we serve. As we take on new clients, we continue to add employees, services and capabilities, so that our valued existing clients continue to receive the service they have come to expect.”
In addition, Parsec Financial was listed 132nd out of 1,721 firms nationally.
*Methodology: InvestmentNews qualified 1,719 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2016. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after January 1, 2016, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) provided investment advisory services to clients during its most recently completed fiscal year, (5) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25% of amount of regulatory assets under management is attributable to pension and profit-sharing plans (but not the plan participants), (7) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, (12) has neither a related person who is a broker-dealer/municipal securities dealer/government securities broker or dealer (registered or unregistered) not one who is an insurance company or agency.