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07/01--BBFG Named Top Wealth Manager for Second Year

Back Bay Financial Group (BBFG), with offices in Boston, Wakefield, and S. Yarmouth, Massachusetts, has been named for the second consecutive year on Bloomberg’s annual list of Top Wealth Managers in America. The company’s assets under management grew by 57 percent, resulting in it being ranked as the 64th fastest growing company from 2002 to 2003. The announcement follows the company’s recent milestone of reaching $125 million in assets under management.

All the firms chosen are independent advisors registered with the SEC. They provide comprehensive planning to “individuals and/or high net worth individuals.” Insurance companies, trust companies and banks were excluded from the listing.

“This represents the trust our clients have placed in us, and it is an honor to be named for the second time,” says John H. LeBlanc, CFP^®, co-founder of BBFG. “As the Bloomberg article noted, almost half of the nation’s independent financial advisors have changed the way they invest clients’ assets as a result of ongoing criminal investigations of the mutual fund industry. We are diligent in ensuring ethical practices and advising with integrity.”

Bloomberg Wealth Manager magazine noted that continued growth requires financial advisors to use a multidisciplinary approach to investment strategies. According to the report, clients are wary of financial professionals and look for precautionary ways to build a relationship with a financial planner.

BBFG retains a staff of seven advisors; all hold the Certified Financial PlannerTM designation. They practice a Fee-Only philosophy endorsed by the National Association of Personal Financial Advisors, in which they are compensated solely by fees paid by their clients and not from any other source. The company was founded in 1997 by LeBlanc and Robert D. Siefert, CFP^®. Their practice includes wealth management services for families, trusts, charitable organizations and small businesses.

“We value the relationships we have developed with clients and colleagues,” says Siefert, co-founder of BBFG. “Wealth management requires a comprehensive approach to financial planning and we are proud to be listed with Bloomberg’s prominent wealth managers. This recognition is significant for our seven-year old company.”