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Monument Wealth’s Jessica Gibbs, CFP® Ranked by Forbes as One of Virginia’s Top Women Wealth Advisors
Woot!
Monument Wealth Management is proud to announce that our very own Jessica Gibbs, CFP® has been ranked by Forbes as a Top Women Advisor in the State of Virginia for 2023!
“As an advisor, I always want to be helpful—to not just answer our clients’ questions, but to add value, think of creative ideas, and be a good listener. It’s an honor to receive this recognition, and I see it as motivation to continue my personal goals to ensure women, in particular, are engaged in their own wealth planning and that more women enter this very fulfilling profession,” said Jessica.
This announcement comes on the heels of her previous recognition as a Top Next Generation Financial Advisor by Forbes in 2017, a Forbes Best-in-State Top Next-Gen Wealth Advisor in 2019, and her advancement to Partner at Monument Wealth Management in 2021.
As a firm that places a focus on supporting women and our next generation of leaders, we are thrilled to join Jessica in celebrating this well-earned accomplishment and we are so fortunate to have her as a Vice President and Partner at Monument Wealth Management.
The seventh annual ranking of Forbes/SHOOK Top Women Wealth Advisors features 1,697 women collectively managing assets of nearly $2.3 trillion. Forbes’ list was compiled by SHOOK Research, which uses quantitative and qualitative data, including interviews, to rank advisors.
SHOOK Research aims to create rankings of role models—advisors that are leading the way in offering best practices and providing a high-quality experience for clients. All advisors have a minimum of seven years’ experience. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. SHOOK accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records.
Jessica was ranked #34 overall in the state of Virginia.
More About the SHOOK Research Methodology
SHOOK is not a “robo-ranker.” To ensure quality in their research, SHOOK collects both qualitative and quantitative data for their ranking algorithm.
Qualitative data is collected via in-person, virtual and telephone due diligence meetings to evaluate each advisor. This includes client impact, industry experience, review of best practices and compliance records, and firm nominations. Quantitative data is also collected including assets under management and revenue generated.
The Process
Jessica was originally nominated for the Next Gen ranking in 2017. As part of the application process, her information was submitted into the SHOOK system. Jessica periodically reviews and updates the information in the database, and SHOOK uses this information to select its nominees each year.
The following describes the requirements and metrics used in their ranking algorithm:
Basic Requirements for Top Women Wealth Advisors
- 7 years as an advisor
- Minimum 1 year at current firm, with exceptions such as acquisitions
- Advisor must be recommended, and nominated, by their firm
- Completion of an online survey
- Business that is conducted with individuals is evaluated
- Acceptable compliance record
Quantitative Metrics
- Weightings assigned for both revenue and production data
- Assets under management—and quality of those assets—both custodied and a scrutinized look at assets held away
- Client-related data, such as retention
- Portfolio performance is not a factor
Qualitative Metrics
- Telephone, virtual and in-person meetings with advisors
- Compliance records and U4s
- SHOOK measures client “impact,” a proprietary indicator that measures difference advisors make in the lives of their clients.
- Advisors that provide a full client experience including service model, investing process, fee structure, breadth of services
- Credentials (years of service can serve as proxy)
- Use of team and team dynamics
- Community involvement
- Discussions with management, peers, competing peers
- Telephone, virtual and in-person meetings
Ranking Algorithm
As described on their website, the algorithm is designed to fairly compare the business practices of a large group of advisors based on quantitative and qualitative elements. Data are weighted to ensure priorities are given to dynamics such as preferred “best practices,” business models, recent business activity, etc. Each variable is graded and represents a certain value for each measured component. These data are fed into an algorithm that measures thousands of advisors against each other.
For all of the details on the methodology used by SHOOK Research, click here.
Beyond the Forbes Ranking
It’s an amazing honor to be recognized by Forbes but at the end of the day, it’s our clients’ opinions that truly matter. Check out our Google Reviews to see what our clients have to say about us, in their own words. Our mission is to not only help people untap their potential for wealth, but their potential for living. And when we’ve accomplished that, that’s what true success means to us!
*Please see important ranking disclosure information here.
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Monument is engaged, or continues to be engaged, to provide investment advisory services. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice.
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