Credent Wealth Top 50 Fastest Growing Firm

Article by KPC Media | KPC News | July 27, 2022

AUBURN — A local firm, CX Institutional LLC (Credent Wealth Management), recently earned the ranking of one of the top 50 fastest-growing financial advisor firms in the United States.

Smartasset ranks Credent Wealth Management as the 35th fastest-growing financial advisor firms nationwide, with a growth of 2,075 clients from 2019 to 2022.

The independent wealth management industry has grown significantly over the past decade and many financial advisors think it will continue to grow.

According to a 2022 Schwab Advisor Services’ independent advisor outlook study, about 93% of firms expect growth over the next five years, with a projected uptick of 17% annually in terms of the average net new assets expected over this time. More than one in four surveyed advisors expects to grow at a faster rate over the coming years relative to their current growth rate.

David and Stacy Hefty, owners of Credent Wealth Management, opened their firm 20 years ago in downtown Auburn. The Heftys opened a state-of-the-art office building in downtown Auburn in March. The new three-story office building brought all the firm’s employees under one roof allowing for continued growth.

The company now provides financial planning and advisory services of $1.3 billion of assets under management, with locations in Auburn, Portage, Michigan and Waco and Plano, Texas.

The study compared a total of 729 registered investment advisors across four metrics; one- and three-year percentage change in number of client accounts and one- and three-year percentage change in assets under management.

Only about one in three financial advisory firms in the study holds assets exceeding $2 billion. However, five of the 10 fastest-growing financial advisors report an assets under management of $2 billion or more, as of March 2022.

Article source: https://www.kpcnews.com/thestar/article_f4945461-cbca-5d80-96c2-bd5320b76c4d.html