Welcome to the annual Bank Investment Consultant Top 50 Bank Reps.

SLIDESHOW: Top 50 Bank Reps

This year we broadened our analysis to capture a more complete view of the advisor's job. We didn't rank our list on only one category such as assets under management, or production. Rather, we considered five variables: AUM, production, asset growth, percentage of fee business and production-per-assets.

We assigned each advisor a score in each of those five categories and then took a weighted average. This was all done with the goal of gaining a more well-rounded view on the performance of advisors. If advisors were baseball players, the people listed here would be the "five-tool players," as opposed to those who are good at hitting home runs but can't field or run.

We didn't want this list to become an exercise in simply ranking the biggest. In fact, we have a number of advisors here with less than $100 million in assets under management.

But size counts. The two biggest variables considered were AUM and production. They counted a little more than asset growth, which, in turn, counted more than the amount of fee-business. And since production figures also influence the "production per assets" category, it was a major part of the overall score, which we felt was fair. But to ensure that it didn't completely sway the end results, we capped the amount that some variables could contribute to the overall score.

For example, once an advisor reaches $2 million in production, he or she has maxed out that category. Essentially, this aspect of the analysis was similar to grading a test on a curve. (One note: figures for 2011 are from the end of September).

There are already criticisms forming in some minds. Allow us to kick things off by naming three and giving you our responses.

First, this method is subjective as far as the formulas and the weightings that are used.

True, it is. But we used pretty standard measures, and even capped their contributions to the overall scores and then took a weighted average. Overall we feel this is a very well-rounded analysis

Another possible objection: the differences in rankings can be a hair breadth apart.

Also true, the differences can be a fraction of a point. Most rankings are like that. For that reason, we also included an honorable mention list on page 29 of the next 10 names after our top 50.

Finally, this ranking doesn't capture the full value of an advisor.

Very possible. This is a purely quantitative analysis. It misses the qualitative aspects of what makes a good advisor, which is to say, it misses a lot of the advisor's job.

We spend most of the year writing about how success in this industry entails more than just numbers (which we still believe). But numbers count for something and this is our annual reckoning of the "top advisors" in the channel.

After all that work, one obvious result was a host of familiar names. Slicing and dicing the numbers as we did resulted in a handful of people at or near the top who have graced our pages in the past.

Our top advisor, Wells Fargo's William Oliver, was No. 7 last year and No. 2 the year before. And this year's No. 2, Matt Fryar, also from Wells, was No. 1 last year. There are a number of other familiar names this year, as well as some new faces in the list. You can see the full list on page 24.

That said, please enjoy the rankings, photos and bios over the next 10 pages. And as always, give us your feedback.

 

1. William Oliver

A financial advisor is to a client what a CFO is to a CEO. That's how William Oliver sees his role, at least.

The longtime financial advisor in the Charlotte, N.C., office of Wells Fargo taps experts and resources within the bank in much the same way that a CFO reaches into his or her company for specialized financial expertise. "What differentiates you in this business," says Oliver, "is the value that you bring to your client."

These days that means doing much more than giving investment advice. What's valuable to a client, he says, is developing a big-picture financial plan that addresses financial, investment management, insurance and estate issues.

This year's top advisor thanks the talented team of experts in the private bank that allows him to advise his clients in a coordinated way. "I have the best partners in the world," he says. "They make me look a lot better than I am."

Having that big-picture long-term financial plan couldn't have been more important in a year marked by extreme market swings. Baby boomers especially were unaccustomed to the market corrections and the "risk on, risk off" environment. "Clients became fearful that they'd become wiped out," said Oliver of August's severe market plunges.

When clients panicked, he'd point to the long-term financial plan, showing them where they were in relation to their long-term goals and reassuring them that they were still on track.

To relieve fears, Oliver took a more tactical approach to clients' wealth management, looking closely at asset allocation and managing risk better. "When risk was rising, we became more defensive," moving investments into other asset classes, such as convertible bonds, alternative investments, and even cash, he said.

Not surprisingly, Oliver found himself working double time during market downturns with as many as four client meetings a day. He typically has two to three meetings with existing and prospective clients.

Clients were most concerned about outliving their money, a fear he would allay by pointing to their financial plan. "Here's your financial picture," he'd tell clients. "Here's where you are."

Not all client worries, however, are resolved with a financial plan. Sometimes being a good advisor means telling clients what they don't want to hear. For example, a client with $l million in assets who wants to retire and spend $100,000 a year needs to understand that his or her assets would last 10 years at a 10% rate of return, said Oliver.

Spending $45,000 annually would be more realistic, when supplemented with other sources of income, like a pension and social security. "Some advisors don't have the mechanism to show them," said Oliver. Others simply don't want to deliver bad news. "It's a difficult thing to do, but that's the job," said Oliver.

In addition, effective wealth managers have to work hard, have high integrity, be diligent and communicate effectively. A good communicator, Oliver noted, listens well. He or she "listens to what they're saying and what they're not saying," he said.

Oliver learned the importance of financial planning through personal experience. His uncle — the former COO of a large publicly traded company — lost half his net worth because his assets weren't sufficiently diversified. "There's got to be a way to help people diversify their assets," Oliver remembered thinking, so that they wouldn't find themselves in the same financial situation his uncle was in.

His uncle's loss sparked Oliver's interest in financial advising and led to a new career. He left the family's beverage business and headed for Prudential Advisors, where he earned one-third his previous salary. Oliver sought out a mentor who taught him what was needed to do well in the advisory business. "He was the most successful producer in that office," he said of the man who eventually became his best friend.

The mentor pushed Oliver hard. Oliver remembers cold calling 200 people a day when he started in the business and working "seven to seven, Mondays to Thursday; until six on Friday; and six to seven hours every other Saturday," he said.

His mentor's belief was that advisors had "a lot to learn to be a true value to clients," said Oliver.

Fifteen years later — as our No. 1 advisor — true value is what Oliver knows best.

Bank: Wells Fargo
Location: Charlotte, N.C.
TPM: N/A
2011 production: $2.5M (through Sept. 30)
2010 production: $2.9M
2011 AUM: $600M (as of Sept. 30)
2010 AUM: $345M
Fee-based business: 75%
Product mix: Managed accounts 75%, Variable annuities 15%, Mutual funds 5%


2. Matthew Fryar

If Matthew Fryar had his way, he would cut back the broadcast channels to ABC, NBC and CBS — plus public television. One of his biggest challenges stems from the media and "the noise that it creates," usually negative, he said. He works hard throughout the year to get his clients' attention away from what was happening day-to-day in the markets and back to their long-term financial plans. "The goal was to help clients make a good decision when emotionally they want to run," he said. In fact, he longs for Louis Rukeyser, the popular host of a weekly financial news show who died in 2006. Having a financial commentator once a week, instead of the multiple commentators who weigh in several times daily today, he said, "would be ideal."

Fryar encourages advisors to keep the business as simple as possible. Some will make things too complicated by having hundreds of investments across their book of business, he says. "It's impossible to track all those in a meaningful way," he says. To be sure, tough economic times offer some opportunities. Stocks with low PE ratios, for example, have "room for upside," he notes. "They're the single greatest opportunity going forward." Still, he insists on a balanced approach to wealth management. "I believe very much in diversification and the need to rebalance accounts on a frequent basis," he says.

Bank: Wells Fargo
Location: Des Moines, Iowa
TPM: N/A
2011 production: $2.86M (through Sept. 30)
2010 production: $2.77M
2011 AUM: $450M (as of Sept. 30)
2010 AUM: $400M
Fee-based business: 85%
Product mix: Managed accounts 85%, Bonds 11%, Variable annuities 2%


3. Bruce Knott

Bruce Knott joined E.F. Hutton in the early 1970s when he decided he didn't have passion for his then-current job at GTE. In the years since, he has developed strong opinions that he likes to share and a strong client base. And he's perfected a strategy that can only be described as the power of patience and the strength of the soft sell. He boasts that he never cold calls or conducts seminars unless a company specifically requests him to do one for its employees. (He works from referrals.) And he never jumps quickly when it comes to other people's money. "The worst thing the industry has done is pressure people to make fast decisions," he says.

One very wealthy, now-deceased, client learned that in their first conversation. He had $100 million in net assets and had been referred to Knott and two other advisors. He called one night and said he'd had a "liquidity event" and wanted to send Knott $37 million. He then demanded to know what Knott would do with it. Totally unfazed, at least in the re-telling, Knot's one-word answer: Nothing.

The would-be client pulled up short by surprise asked why. Knott said that he didn't know anything about him, what was he supposed to do with it. And with $37 million in new business on the line, Knott said, "Look, go see the other two guys and they're going to put a 250-page book in front of you with what you need to do. But ask yourself this question: How do they already know what's best for me?"

Three months later, he called again and said Knott was right. The next day, $37 million arrived. "And it sat there for another three months before he called again," Knott said.

But pressure to make decisions quickly is just part of the overall problem that clients have with the financial industry, he says. The larger issue of trust is not easy to fix. "We're at the crossroads of one of the greatest periods in financial history.…we need more regulation until we can prove to the American people we're trustworthy." He added, with a hint of nostalgia, "It used to be that bankers were trusted."

Bank: Wells Fargo
Location: Chapel Hill, N.C.
TPM: N/A
2011 production: $2.43M (through Sept. 30)
2010 production: $2.45M
2011 AUM: $300M (as of Sept. 30)
2010 AUM: $300M
Fee-based business: 93%
Product mix: Managed accounts 93%, Other 7%


4. Jeffrey Reichwald

The best piece of advice Jeffrey Reichwald has for rookies sounds simple enough, but can be hard to truly implement for the go-getter personalities that often come with the territory in this industry: Be patient. Finding someone to mentor and teach you is key, he says. And like any craftsman learning his trade, you have to have the right attitude, he says. "Being able to say 'I know I have to put this time in to be a success' is the answer," he says.

His career path has included private banking and the investment side of the business. That, combined with the planning aspect he also brings to the table, has enabled him to work comfortably with clients on both sides of their balance sheets, he says.

His knowledge of working on the liability side has been useful in dealing with entrepreneur clients as they seek new ways to finance new ventures, he says.

He also brings an astute understanding of risk and risk management to the table, which has been handy in helping many clients realize they had been underestimating their true risk threshold. (Although, he notes, that's not a common problem among entrepreneurs who usually know full well the scope of the significant risks they take on.)

As for the job, he says he talks to his top 25 clients at least once a month either by phone or face-to-face.

Like others in our ranking, he says that type of outreach writ large is what's needed from the financial services industry to restore confidence among investors. And it needs to be accompanied by a level of real listening that clients have historically felt has been a missing element from conversations.

Bank: Wells Fargo
Location: Los Angeles
TPM: N/A
2011 production: $1.3M
2010 production: $1.6M
2011 AUM: $329.4M
2010 AUM: $300.5M
Fee-based business: 52%
Product mix: Managed accounts 52%, Bonds 45%, Equities 2%, Mutual funds 1%


5. Jim Applewhite

When renewed fears of another financial crisis flared up over the summer, financial advisor Jim Applewhite went into damage control. He reminded clients of the risk management they already had in place and evaluated ways to insulate client portfolios against possible exposure to any fallout from the European debt crisis. In other words, he held their hands. He tried to calm them during the market's roller coaster dives.

Applewhite could not have prepared his clients better for the ride. A few years earlier he had switched from what he called "traditional asset-allocation advice" to a more tactical approach to wealth management decision-making. The new approach emphasized greater awareness of risk and pricing. "If a security or asset class was already priced for a dire outcome and the upside was significant versus other asset classes, we would be more inclined to own it rather than those priced based on more vanilla assumptions," said Applewhite.

Applewhite also adopted what he referred to as the "college-endowment approach." Rather than the traditional mix of stocks, bonds and cash, Applewhite added a "little bit of everything" to client portfolios, including commodities and investments such as REITS, structured products, managed futures, private commercial real estate and even energy/pipeline master limited partnerships.

The combination of the two approaches helped insulate clients from the risks of market instability. When markets fell, he reminded clients how diversified they were. As a result, there was no need to re-create client portfolios from scratch. Nor were there knee-jerk reactions to move assets to cash, almost "always a bad idea" during tough market patches, says Applewhite. One of the biggest mistakes clients make is to "want to pull back from the entire process," he said.

That's when clients stop making sound judgments about the relative risk/return of investments and go into the "I don't know what to do because things are unsettled" mode where they sit in cash, despite zero yields there, he said.

"Doing nothing is the worst thing you can do," said Applewhite.

Bank: Wells Fargo
Location: Raleigh, N.C.
TPM: N/A
2011 production: $2.0M
2010 production: $1.3M
2011 AUM: $220M
2010 AUM: $200M
Fee-based business: 60%
Product mix: Managed accounts 60%, Mutual funds 15%, Bonds 10%, Variable annuities 5%, Equities 5%, ETFs 3%, Insurance 1%


6. Randall Krenzin

Randy Krenzin of Wells Fargo works by referral only and specializes in high-net- worth individuals. He starts with a full understanding of client's entire balance sheet and only then implements a plan, which typically includes discretionary portfolio management.

Bank: Wells Fargo
Location: San Jose, Calif.
TPM: N/A
2011 production: $1.5M
2010 production: $1.6M
2011 AUM: $231.5M
2010 AUM: $189M
Fee-based business: 60%
Product mix: Managed accounts 45%, Bonds 36%, Insurance 10%, ETFs 5%


7. Russell Cesari

Russell Cesari of Northwest Financial Group views each client relationship as a holistic lifetime partnership. His target market consists of retirees and people who are nearing retirement. For referrals, the majority come from his existing clients, which he notes is a sign of client satisfaction.

Bank: Northwest Financial
Location: Herndon, Va.
TPM: LPL Financial
2011 production: $2.1M
2010 production: $2.2M
2011 AUM: $265.3M
2010 AUM: $271.9M
Fee-based business: 89%
Product mix: Managed accounts 89%, Variable annuities 5%, Mutual funds 4%, Insurance 1%


8. Kin Vinson

Wells Fargo's Kin Vinson prides himself on creating specific retirement and estate plans that meet clients' financial goals while staying within the parameters of their risk tolerance. He focuses on preservation of clients' net worth and increasing the overall efficiency of their portfolios.

Bank: Wells Fargo
Location: Salisbury, N.C.
TPM: N/A
2011 production: $1.5M
2010 production: $1.2M
2011 AUM: $172M
2010 AUM: $132M
Fee-based business: 5%
Product mix: Mutual funds 40%, Variable annuities 25%, Equities 10%, Bonds 10%, Insurance 5%


9. Charles Lewis

Charles Lewis of Wells Fargo brings a small-town flavor to the turbulent Wall Street environment, and offers a quiet and calming influence to clients in a challenging market environment. Born and bred in the town where he works, he's able to offer confidence and commitment to clients.

Bank: Wells Fargo
TPM: N/A
Location: Waco, Texas
2011 production: $2.0M
2010 production: $1.9M
2011 AUM: $445M
2010 AUM: $415M
Fee-based business: 45%
Product mix: Equities, Bonds and Mutual funds, 20% each; ETFs and Managed accounts 15% each


10. Jeff Nuttall

Wells Fargo's Jeff Nuttall has many clients who are executives or business owners. So they have a lot of risk in their main source of income. So his goal is to preserve wealth rather than create it. He achieves this by targeting low volatility and is willing to accept slightly lower returns in up-markets.

Bank: Wells Fargo
Location: Denver, Colo.
TPM: N/A
2011 production: $1.4M
2010 production: $1.7M
2011 AUM: $400M
2010 AUM: $350M
Fee-based business: 80%
Product mix: Mutual funds 50%, Equities 15%, Bonds 10%, ETFs 10%, Variable annuities 5%


11. Sam Sleiman

Wells Fargo's Sam Sleiman is a big believer in education. He has an MBA degree and 2 designations (Certified Investment Management Analyst and Certified Private Wealth Advisor). But what's even more important than knowledge is a true desire to help clients, he says.

Bank: Wells Fargo
Location: Salt Lake City, Utah
TPM: N/A
2011 production: $1.3M
2010 production: $1.53M
2011 AUM: $522M
2010 AUM: $450M
Fee-based business: 90%
Product mix: ETFs 35%, Bonds 25%, Mutual Funds 20%, Managed accounts 10%, Equities 5%, Insurance 3%, Fixed annuities 1%.


12. Darin Dewsnup

Wells Fargo's Darin Dewsnup serves a broad array of clients in more than 20 states and 10 foreign countries. His main goal is to create a plan that will allow them to preserve their wealth and their estates for generations to come. He has found a particular niche within the wildlife and habitat preservation community.

Bank: Wells Fargo
Location: Salt Lake City, Utah
TPM: N/A
2011 production: $1.3M
2010 production: $1.54M
2011 AUM: $522M
2010 AUM: $450M
Fee-based business: 90%
Product mix: ETFs 35%,Bonds 25%, Mutual funds 20%, Managed accounts 10%


13. Jeffrey Wyatt

Jeffrey Wyatt and teammate Jason Hyrne (next entry) use a holistic planning approach focusing on clients' goals. Wyatt focuses on internal relationships at Wells, continually fills the pipeline with prospects and works on "rainmaking activities" like golf outings and intimate dinners where they ask clients to bring friends.

Bank: Wells Fargo
Location: Jacksonville, Fla.
TPM: N/A
2011 production: $1.35M
2010 production: $1.3M
2011 AUM: $225M
2010 AUM: $200M
Fee-based business: 80%
Product mix: Managed accounts 80%, Variable annuities 10%, Mutual funds 5%


14. Jason Hyrne

Jason Hyrne of Wells Fargo focuses his time on the planning and portfolio management side of the business. (The stats listed for Hyrne and teammate Wyatt are individual). They manage clients' money on a discretionary basis using 10 different models, including ETFs and institutional funds.

Bank: Wells Fargo
Location: Jacksonville, Fla.
TPM: N/A
2011 production: $1.35M
2010 production: $1.3M
2011 AUM: $225M
2010 AUM: $200M
Fee-based business: 80%
Product mix: Managed accounts 80%, Variable annuities 5%, Mutual funds 5%


15. Eileen Allen

Eileen Allen lives in a town with 10,000 people about three hours from any city. She likes the remoteness because it fosters a close community. Her clients are neighbors and colleagues so she knows what keeps them up at night, which makes her enthusiastic about coming to work each day.

Bank: Wells Fargo
Location: Steamboat Springs, Colo.
TPM: N/A
2011 production: $804,330
2010 production: $872,159
2011 AUM: $255M
2010 AUM: $200M
Fee-based business: 72%
Product mix: Managed accounts 72%, Mutual funds 16%, Variable annuities 4%, Bonds 4%, Insurance 2%, Equities 2%


16. Philip Moses Jr.

Philip Moses Jr., at First Federal Financial, has segmented his practice so his team can provide financial planning to their top 300 clients. Investments for these clients are in fee wrap accounts where he utilizes asset-allocation models together with alternatives. And Moses still finds time to remain active in the community.

Bank: First Federal Financial
Location: Lake City, Fla.
TPM: Raymond James
2011 production: $1.8M
2010 production: $1.9M
2011 AUM: $187.9M
2010 AUM: $192.9M
Fee-based business: 55%
Product mix: Managed accounts 55%, Variable annuities 20%, Equities 20% Mutual funds 5%


17. Kevin McDermott

Kevin McDermott, at Citadel Federal CU, builds deep relationships with clients-more than 80% of them have been with him over five years. He trains tellers and loan officers to listen for certain keywords and he returns the referrals having cross-sold more than $6 million in business back to the credit union this year.

Bank: Citadel Federal CU
Location: Downingtown, Penn.
TPM: CUSO Financial Services
2011 production: $1.9M
2010 production: $1.3M
2011 AUM: $103M
2010 AUM: $97.4M
Fee-based business: 66%
Product mix: Managed accounts 66%, Variable annuities 23%, Insurance 7%, Mutual funds 4%


18. Michael Pepper

Michael Pepper says his team runs a macro allocation strategy. After the tech wreck of 2000, he studied why people made and lost money and derived a strategy that replicates the approach used by large academic endowments for his $1 million retail clients.

Bank: Wells Fargo
Location: Newport Beach, Calif.
TPM: N/A
2011 production: $1.1M
2010 production: $1.3M
2011 AUM: $200M
2010 AUM: $170M
Fee-based business: 90%
Product mix: Bonds 50%, Equities 30%, ETFs 10%, Mutual funds 10%


19. Frank Au-Yeung

Frank Au-Yeung develops tailored wealth management plans for each client using all the resources within Wells Fargo. His niche consists of Silicon Valley executives, businesses and retirees, as well as the Chinese community both locally and internationally. He maintains strong relationships with bank employees who refer clients to him.

Bank: Wells Fargo
Location: San Jose, Calif.
TPM: N/A
2011 production: $1.4M
2010 production: $2.1M
2011 AUM: $500M
2010 AUM: $450
Fee-based business: 50%
Product mix: Managed accounts 40%, Bonds 10%, Equities 10%, Variable annuities 10%, Insurance 5%


20. Marco Mendoza

Marco Mendoza has leveraged a defined planning-based process into frequent referrals from clients, bank partners, and many of the other business units at Wells Fargo. He has gained the trust of his partners so they feel that he will impress their referrals. The result has been a 20%+ increase in his business and AUM.

Bank: Wells Fargo
Location: Los Angeles
TPM: N/A
2011 production: $790,640
2010 production: $816,040
2011 AUM: $187M
2010 AUM: $140M
Fee-based business: 62%
Product mix: Managed accounts 62%, Insurance 13%, Bonds 11%, Mutual funds 10%


21. Greg Warner

Greg Warner at Wells Fargo has a holistic approach to serving clients in his Raleigh, N.C. market. He says his practice revolves around services such as investment planning, life insurance, long-term care, mortgages, lending and estate planning.

Bank: Wells Fargo
Location: Raleigh, N.C.
TPM: N/A
2011 production: $1.1M
2010 production: $1.2M
2011 AUM: $180M
2010 AUM: $156M
Fee-based business: 74%
Product mix: Managed accounts 74%, Variable annuities 10%, Mutual funds 7%, Insurance 4%, Bonds 3%, Equities 1%


22. Doug Leonzi

National Penn's Doug Leonzi, one of the mainstays on our top 50 list, says patience is necessary when prospecting, especially when an advisor is looking to land a highnet-worth client. But he also values his experience, which allows him to keep things in perspective and make time for his family.

Bank: National Penn Bank
Location: Allentown, Penn.
TPM: PrimeVest
2011 production: $841,000
2010 production: $1.0M
2011 AUM: $120M
2010 AUM: $83M
Fee-based business: 38%
Product mix: Variable annuities 49%, Managed accounts 38%, Mutual funds 3%, Equities 2%


23. John McRae

John McRae started at Citizens National Bank in January 1990. He worked in the management training program for a year but wanted to work in the investment field. He was about to bolt for a wirehouse when the company launched a program. He was the only one "young and dumb enough" to sign up.

Bank: Citizens National Bank
Location: Meridian, Miss.
TPM: Raymond James
2011 production: $1.3M
2010 production: $1.1M
2011 AUM: $227.0M
2010 AUM: $210.5M
Fee-based business: 65%
Product mix: Mutual funds 45%, Managed accounts 15%, Equities 15%, Bonds 10%, Variable annuities 10%, ETFs 5%


24. Donna Barclay

Donna Barclay from Wells Fargo has brought on three junior financial advisors from the company's training program, plus an administrative assistant and sales assistant. In addition to serving clients and increasing business, Barclay spends time mentoring her team of young advisors.

Bank: Wells Fargo
Location: Durham, N.C.
TPM: N/A
2011 production: $1.3M
2010 production: $1.2M
2011 AUM: $184M
2010 AUM: $170M
Fee-based business: 65%
Product mix: Managed accounts 65%, Mutual funds 15%, Variable annuities 10%, Bonds 5%


25. Besart Morina

Besart Morina's team at Wells Fargo takes a comprehensive approach to identify client needs. They recognize there is much they cannot control. But they do control the client service and they enhance that experience by using all the bank partners available including trust, lending and insurance.

Bank: Wells Fargo
Location: Petaluma, Calif.
TPM: N/A
2011 production: $700,000
2010 production: $650,000
2011 AUM: $70M
2010 AUM: $50M
Fee-based business: 30%
Product mix: Managed accounts 30%, Variable annuities 15%, Mutual funds 15%, Fixed annuities 10%, Bonds 10%, Insurance 5%


26. Horacio Choi

Horacio Choi of Well Fargo says the keys to being a successful financial advisor are maintaining a focus on the client; remaining diligent in all tasks whether they be service, research, or advisory in nature; and staying hungry in the quest to constantly improve your craft of financial advising.

Bank: Wells Fargo
Location: Newport Beach, Calif.
TPM: N/A
2011 production: $680,000
2010 production: $685,000
2011 AUM: $130M
2010 AUM: $100M
Fee-based business: 70%
Product mix: Mutual funds 50%, Managed accounts 15%, Bonds 10%, Variable annuities 5%, Equities 5%


27. Edward Jordan

Edward Jordan of Wells Fargo develops strategies consistent with clients' specific goals and objectives. He maintains a conservative investment philosophy with a focus on fixed income and managed money. A disciplined approach is used with regards to asset allocation, safety, liquidity, diversification and tax liabilities.

Bank: Wells Fargo
Location: Albuquerque, N.M.
TPM: N/A
2011 production: $825,000
2010 production: $1.1M
2011 AUM: $192.8M
2010 AUM: $107M
Fee-based business: 16%
Product mix: Bonds 22%, Equities 20%, Mutual funds 16%, Managed accounts 16%, ETFs 13%


28. Guy Guidry

Guy Guidry of Wells Fargo uses a holistic wealth-based approach by bringing in planners, bankers and insurance experts as needed to enhance his clients' experience with his team. This helps generate referrals from clients, which, in turn, helps build a successful practice.

Bank: Wells Fargo
Location: Durham, N.C.
TPM: N/A
2011 production: $1.0M
2010 production: $1.2M
2011 AUM: $270M
2010 AUM: $245M
Fee-based business: 65%
Product mix: Managed accounts 65%, Mutual funds 15%, Bonds 10%, Variable annuities 5%, Insurance 3%, Equities 2%


29. William Gamble

William Gamble of Wells Fargo strives to maintain perspective for clients based on their risk tolerances. He assists them in maintaining their lifestyles by a conservative approach with investments seeking to provide solid cash flow. And he acts as advisor to families to ensure their wealth may last for generations.

Bank: Wells Fargo
Location: Fort Lauderdale, Fla.
TPM: N/A
2011 production: $713,800
2010 production: $906,764
2011 AUM: $136.7M
2010 AUM: $145M
Fee-based business: 50%
Product mix: Managed accounts 40%, Bonds 25%, Mutual funds 25%, ETFs 10%


30. Darrell Smith

Darrell Smith from Citizens Bank takes his clients through an in-depth analysis of their needs, goals, and overall financial picture, and is then able to make appropriate recommendations. This allows him to build credibility and trust. He also has a knack to help clients understand why his recommendations address their specific needs.

Bank: Citizens Bank
Location: Medford, Mass.
TPM: N/A
2011 production: $556,000
2010 production: $607,000
2011 AUM: $50M
2010 AUM: $32M
Fee-based business: 40%
Product mix: Managed accounts 43%, Variable annuities 27%, ETFs 13%, Insurance 9%


31. Steven Goldberg

Steven Goldberg of SunTrust Investment Services continues to grow his business through centers of influence. As one example, he has established a relationship with an estate attorney with whom he conducts quarterly seminars. He has also established relationships with people in other lines of business within his branches.

Bank: SunTrust Investment Services
Location: Hyattsville, Md.
TPM: N/A
2011 production: $1.4M
2010 production: $1.5M
2011 AUM: $293M
2010 AUM: $280M
Fee-based business: 11%
Product mix: Variable annuities 27%, Fixed annuities 25%, Insurance 12%, Managed accounts 11%


32. Peter Knittle

Pete Knittle, an FA with ESL Investment Services, began his career as a teller, then moved into the role of licensed banker, assistant branch manager, and ultimately credit union branch manager. He began advisory work in 2010 and has built over $15 million in advisory assets into his book.

Bank: ESL Investment Services
Location: Rochester, N.Y.
TPM: LPL Financial
Location: Rochester, N.Y.
2011 production: $771,000
2010 production: $930,000
2011 AUM: $82.2M
2010 AUM: $64.4M
Fee-based business: 11%
Product mix: Mutual funds 32%, Variable annuities 30%, Fixed annuities 27%, Managed accounts 11%


33. Gabe DeFeo

Gabe DeFeo at Citizens Bank maintains a sales process and passion for his profession that helps him in his relationships with clients. He embraces new products and financial strategies, and works to make the best use of the firm's technology. This allows DeFeo to be first to market with new concepts for his clients.

Bank: Citizens Bank
Location: Pawtucket, R.I.
TPM: N/A
2011 production: $756,000
2010 production: $740,000
2011 AUM: $56M
2010 AUM: $44M
Fee-based business: 25%
Product mix: Fixed annuities 28%, Variable annuities 28%, Managed accounts 25%, Mutual funds 10%


34. Shawn Gentle

Shawn Gentle partners with his wealth team within Wells Fargo and utilizes the planning and credit capabilities of the firm in his drive to serve his high-net-worth and ultra highnet-worth clients. His preparation before and after client meetings is a hallmark of his thoroughness and dedication to handling every client issue.

Bank: Wells Fargo
Location: Birmingham, Ala.
TPM: N/A
2011 production: $1.0M
2010 production: $1.5M
2011 AUM: $470.0M
2010 AUM: $434.8M
Fee-based business: 70%
Product mix: Managed accounts 75%, Mutual funds 10%, Variable annuities 5%, Bonds 5%, Insurance 5%


35. Thomas Goodwin

Thomas Goodwin, a financial advisor with Wells Fargo, has more than tripled his business over the last 11 years. He committed his practice to focus on advisory years ago. While genuinely caring about his clients, he also tries to find the time to assist other FAs. His clients admire his loyalty and desire to assist in any way he can.

Bank: Wells Fargo
Location: Haddon Township, N.J.
TPM: N/A
2011 production: $1.2M
2010 production: $1.2M
2011 AUM: $294M
2010 AUM: $300M
Fee-based business: 68%
Product mix: Managed accounts 60%, Mutual funds 15%, Bonds 10%, Equities 5%


36. Nicholas Toy

Nicholas Toy is a certified financial planner with Huntington Bank. Described as high-energy, he approaches his business proactively and manages his team of three associate team leaders in the same way. Nick has mastered the challenging skill of holding team members and partners accountable in a positive manner.

Bank: Huntington Bank
Location: Beaver, Penn.
TPM: N/A
2011 production: $642,000
2010 production: $653,000
2011 AUM: $66.4M
2010 AUM: $51.2M
Fee-based business: 4%
Product mix: Fixed annuities 29%, Variable annuities 25%, Bonds 15%, Insurance 13%


37. Gregory Barkauskas

Greg Barkauskas of Fifth Third Bank has worked to transition his practice into more of an advisory platform. He has a passion for helping his clients define and achieve their goals. He checks in with them regularly to help make sure they are still on track.

Bank: Fifth Third Bank
Location: Naples, Fla.
TPM: N/A
Location: Naples, Fla.
2011 production: $731,649
2010 production: $783,520
2011 AUM: $153.5M
2010 AUM: $123M
Fee-based business: 43%
Product mix: Managed accounts 43%, Variable annuities 22%, Mutual funds 11%, Insurance 9%, ETFs 1%, Equities 3%, Fixed Annuities 2%, Bonds 2%


38. Jayme Lemaire

Jayme Lemaire of Citizens Bank covers four branches in southeastern Connecticut. Her success comes from internal drive and outstanding partnering. She sets aggressive personal production goals each month and shares this goal with her team. While keeping her on track, this also challenges her branches to try to match her work and effort.

Bank: Citizens Bank
Location: New London, Conn.
TPM: N/A
2011 production: $594,500
2010 production: $573,000
2011 AUM: $44.3M
2010 AUM: $33M
Fee-based business: 18%
Product mix: Fixed annuities 24%, Managed accounts 18%, Bonds 17%, Insurance 15%, Variable annuities 13%


39. Kimberly Hunter

Kimberly Hunter of Wells Fargo specializes in wealth transfer. She has developed strong relationships with her aging senior clients and their children. Kim plans a client event every six weeks, whether it's a wine tasting and lunch, an education event or a larger meeting with portfolio managers and economists.

Bank: Wells Fargo
Location: Santa Rosa, Calif.
TPM: N/A
2011 production: $820,000
2010 production: $1.0M
2011 AUM: $200M
2010 AUM: $175M
Fee-based business: 75%
Product mix: Managed accounts 25%, Mutual funds 25%, Bonds 15%, ETFs 10%, Variable annuities 10%


40. James Stottlemyre

James Stottlemyre of Baker Boyer Bank has a straightforward way of connecting with clients through his presentation style. He lays out the facts and presents solutions with conviction. He has recently begun to use Curian Asset Management to actively manage client portfolios and clients seem to be responding favorably.

Bank: Baker Boyer Bank
Location: Kennewick, Wash.
TPM: PrimeVest
2011 production: $633,000
2010 production: $464,000
2011 AUM: $62M
2010 AUM: $51M
Fee-based business: 41%
Product mix: Managed accounts 52%, Variable annuities 11%, Equities 8%, Mutual funds 7%, Bonds 4%


41. Paul Stetter Jr.

Fulton Bank's Paul Stetter Jr.'s primary area of concentration is fee-based financial planning, which involves individual retirement solutions and asset allocation. He adds value for his clients by educating them on the concepts and strategies that go into the development of their financial plan.

Bank: Fulton Bank
Location: Ephrata, Penn.
TPM: Raymond James
2011 production: $751,400
2010 production: $704,000
2011 AUM: $106M
2010 AUM: $88M
Fee-based business: 50%
Product mix: Managed accounts 50%, Variable annuities 24%, Fixed annuities 11% Mutual funds 8%, Insurance 6%


42. Timothy Lynch

Timothy Lynch of Bank of Whitman believes that the key to survival is maintaining discipline, and not reacting emotionally. He invests in high-dividend payers in troubled times. If the market drops, he uses the dividends either to fund retirement income or buy more securities while prices are down. Either way, clients win.

Bank: Bank of Whiman
Location: Clarkston, Wash.
TPM: N/A
2011 production: $887,000
2010 production: $1.1M
2011 AUM: $155M
2010 AUM: $140M
Fee-based business: 80%
Product mix: Equities 50%, ETFs 25%, Bonds 10%, Vas 10%, Mutual Funds 5%


43. Donna Li

Donna Li of Wells Fargo cares about her clients and works hard to develops trusting relationships with them that won't be easily broken. These relationship enable her to truly advise rather than sell. And that, in turn, leads to qualified referrals of clients who are a pleasure to work with, making her job enjoyable.

Bank: Wells Fargo
Location: San Jose, Calif.
TPM: N/A
2011 production: $1.0M
2010 production: $1.5M
2011 AUM: $210M
2010 AUM: $190M
Fee-based business: 30%
Product mix: Mutual Funds 30%, Managed accounts 30%, Variable annuities 20%, ETFs 5% Fixed annuities 5%


44. Dave Volpe

Dave Volpe, of Wells Fargo, has had a strong relationship with the bankers in his branches. He also previously had a bank management position, which gave him the context and the insights to know how to coach and motivate his bank personnel.

Bank: Wells Fargo
Location: Raleigh, N.C.
2011 production: $1.1M
2010 production: $1.2M
2011 AUM: $140M
2010 AUM: $134M
Fee-based business: 60%
Product mix: Variable annuities 22%, Mutual funds 10% Managed accounts 60%, Bonds 8%


45. Michael Pellerito

Since joining Wells Fargo two years ago, Michael Pellerito has been growing his business by 20% per year. He says constant communication is the key to success. Every client receives a call at least once a month, even if it's just to check in. And once a plan is implemented, the work has just begun, he says.

Bank: Wells Fargo
Location: Plantation, Fla.
TPM: N/A
2011 production: $340,000
2010 production: $340,000
2011 AUM: $50M
2010 AUM: $35M
Fee-based business: 75%
Product mix: Managed Accounts 75%, Insurance 6%, Bonds 4%, Equities 4%


46. Gregory Malin

Greg Malin of Fulton Bank says that holistic planning is the best way to run a practice, as opposed to reacting to market conditions. It helps clients understand why recommendations are made. And a systematic process of gathering information helps grow outside client assets.

Bank: Fulton Bank
Location: Camp Hill, Pa.
TPM: Raymond James
2011 production: $772,500
2010 production: $756,800
2011 AUM: $100M
2010 AUM: $89M
Fee-based business: 65%
Product mix: Managed Accounts 65%, Variable annuities 14%, Mutual funds 10%, Fixed annuities 7%


47. Terry Benson

Terry Benson is among those FAs at Wells Fargo who have been appointed the Private Investment Manager designation. As such, he can be hired by clients to manage money on a discretionary basis. He takes time to understand their needs for optimal asset allocation.

Bank: Wells Fargo
Location: Newport Beach, Calif.
TPM: N/A
2011 production: $921,000
2010 production: $730,000
2011 AUM: $160M
2010 AUM: $150M
Fee-based business: 80%
Product mix: Mutual funds 40%, ETFs 35%, Insurance 10%, Bonds 5%


48. Gonzalo Echevarria

John Echevarria left a book of about $60 million in assets in New York to move to Florida. With no specific plan, he accepted the job of turning around a cluster of underperforming branches. He was an immediate success His branches were at 142% of goal at the end of the third quarter.

Bank: AmTrust Bank (a division of New York Community Bank)
Location: Surfside, Fla.
TPM: N/A
2011 production: $512,000
2010 production: $531,000
2011 AUM: $27M
2010 AUM: $14M
Fee-based business: none
Product mix: Fixed annuities 87%, Variable annuities 10%, Mutual funds 3%


49. Garrett Stringer

Even among financial advisors, Garrett Stringer at Wells Fargo is known for working the phones aggressively. The phone hardly touches the receiver all day, say those who work with him. He also focuses on giving his clients hightouch service.

Bank: Wells Fargo
Location: Raleigh, N.C.
TPM: N/A
2011 production: $938,000
2010 production: $1.1M
2011 AUM: $154M
2010 AUM: $155M
Fee-based business: 89%
Product mix: Managed accounts 70%, Mutual funds 19%, Variable annuities 11%


50. Chris Nornburg

Chris Nornburg has steadily built a large fee-based business, largely of executives and attorneys in southern Calif. His intensive market knowledge and ability with wealthy, career-focused clients has resulted in big growth of his managed assets, AUM's and revenue in 2011.

Bank: Wells Fargo
Location: Los Angeles
TPM: N/A
2011 production: $447,000
2010 production: $460,000
2011 AUM: $75.7M
2010 AUM: $60M
Fee-based business: 68%
Product mix: Managed accounts 68%, Bonds 11%, Variable annuities 8%, Insurance 6%


Honorable Mentions

51. Terry Holland, Wells Fargo
52. Robert Leach, Heritage Bank of the South
53. Francis O'Neill III, Wells Fargo
54. Richard Groscost, Wells Fargo
55. Scott Kreter, SunTrust
56. James Christy, Northwest Financial Group
57. Lou Popielarcheck, Wells Fargo
58. Elliot Ichinose, Well Fargo
59. Ryan King, Susquehanna Bank
60. Craig Curtiss, Provident Bank