Top Financial Professionals in the US: InvestmentNews’ Hot List 2024 Highlights Industry Leaders Driving Growth and Innovation
December 17, 2024 — The financial advisory industry in the United States continues to evolve rapidly amid market volatility, regulatory shifts, and technological advancements. Against this backdrop, InvestmentNews has unveiled its prestigious Hot List 2024, showcasing the nation’s leading financial professionals who exemplify innovation, client focus, and strategic growth in wealth management.
North America’s Dominance in New Wealth Creation
According to Boston Consulting Group’s Global Wealth Report 2024, North America was responsible for more than half of all new financial wealth generated globally in 2023. This surge was chiefly driven by the robust recovery of the stock market, particularly the remarkable performance of the S&P 500, fueled by the tech industry’s “Magnificent Seven” giants.
The United States remains the fastest-growing wealth booking center in the Western world and continues to attract substantial cross-border wealth inflows, which increased by 5.6 percent in 2023. Projections indicate this growth will accelerate to approximately 6.9 percent annually through 2028, providing tremendous opportunities for financial advisors across the country.
Challenges Confronting Financial Professionals
Lynn Chen-Zhang, CEO of Zhang Financial, identified several key challenges that financial professionals faced over the last year:
- Market volatility and geopolitical tension increasing client uncertainty
- Fee compression due to robo-advisors and the rise of low-cost ETFs
- Regulatory complexity imposing compliance burdens
Chen-Zhang emphasizes that successful firms distinguish themselves by offering comprehensive financial planning and value-added services that go beyond simple investment management. Staying proactive, informed, and fully compliant is essential in this dynamic environment.
Jesse Hurst, founder of Impel Wealth Management, noted another industry headwind: consolidation. Private equity firms acquiring smaller wealth management practices are reshaping the landscape, demanding adaptability. Hurst highlights technological adoption as a critical differentiator, sharing how generative AI has enhanced portfolio construction and meeting efficiency at his firm, which manages just under $400 million in assets with a team of five—achieving productivity levels it would have taken twice as many resources a decade ago to match.
Profiles of Excellence: Hot List Standouts
Craig Gould, CEO of Binah Capital Group, leads one of the most ambitious players in wealth management today. Having recently orchestrated a merger between Wentworth Management Services and Kingswood Acquisition Corp., Binah Capital debuted on NASDAQ, overseeing more than 550 Registered Investment Advisers (RIAs) and managing $25 to $30 billion in assets under management (AUM), with an affiliated AUM of roughly $300 billion distributed among 1,900 financial professionals.
Gould emphasizes the importance of cultural fit and collaboration. “I like to bring in people that complement me well, and I make sure that people feel important, respected, and managed,” he said. Binah Capital’s platform offers advisors the scale and technology to grow and partner with RIAs—a sector Gould identifies as the primary growth driver in wealth management.
Thomas Ruggie, founder and CEO of Destiny Wealth Partners, with $1.2 billion in AUM, anticipated the trend of fee compression early and transitioned to a fee-based advisory model well ahead of peers. His client-centric philosophy centers on trust and responsiveness. “I want to be the first call if they have a question, concern, or problem,” he explained, noting that small personalized touches differentiate truly outstanding advisors.
Liz Miller, president and founder of Summit Place Financial Advisors, underscored the renewed value clients place on in-person relationships. After years as a portfolio investor, Miller shifted focus to holistic financial planning with an emphasis on trust and ethical service. Summit Place advisors typically serve 15–20 families each, fostering deep bonds and comprehensive wealth strategies.
Technological Innovation and Culture Leadership
Mike LaMena, CEO of Wealthspire Advisors, has overseen the firm’s growth to over $28 billion in AUM, 24 offices, and more than 370 employees. Embracing technology is central to Wealthspire’s strategy. LaMena highlighted how artificial intelligence and automation free advisors to focus on deeper client engagement. “The future is more tech-enabled but also more human,” he said. LaMena is also intensely focused on cultivating a culture that empowers advisors to think and act like owners.
Jeffrey DeHaan of Clearwater Capital Partners exemplifies sustained organic growth, achieving over 13 percent net new asset flow in the last year. Despite a demanding workload as managing partner, chief compliance officer, and board director, DeHaan credits client referrals and rigorous use of technology solutions for his success. His firm employs innovative client security verification campaigns and advanced planning tools to enhance service quality.
The Hot List 2024: Recognizing Leaders Shaping the Future
This year’s InvestmentNews Hot List celebrates a diverse group of financial professionals who are not only navigating today’s complexities but also pioneering new standards for growth, technology, and client relationships. Inductees include:
- Elizabeth Miller, President and Founder, Summit Place Financial Advisors
- Thomas Ruggie, Founder and CEO, Destiny Wealth Partners
- Amanda Arcilesi Simmons, Partner and Financial Advisor, ARC Wealth Management
- Beth Lawlor, President, Private Wealth and Affluent Wealth Management, U.S. Bank
- Craig Gould, Chief Executive Officer, Binah Capital Group
- Lawrence Calcano, Chairman and CEO, iCapital
- Bob Long, Chief Executive Officer, StepStone Private Wealth
- Jeffrey P. DeHaan, Managing Partner, Private Wealth Management, Clearwater Capital Partners
- Shawn Bostic, Director, Regulatory Compliance, Kestra Financial
- Adam Gana, Managing Partner, Gana Weinstein LLP
- Alan Moore, Chief Executive Officer, XY Planning Network and AdvicePay
As wealth creation accelerates in the United States, these leaders illustrate how adaptability, technology integration, and a client-first mindset are paramount. The Hot List 2024 not only honors individual achievement but signals the direction of an industry committed to sustained excellence and transformative growth.
For more details and the complete list of winners, visit InvestmentNews’ official Hot List 2024 report.
— Smart Money Mindset Editorial Team