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For the second year in a row, Michael Olivia has been recognized by Five Star Professional and awarded the 2019 Five Star Wealth Manager Award, as published in the Wall Street Journal and San Diego Magazine.
Candidates who qualify for the award must satisfy 10 criteria, including a regulatory and complaint history review, one and five-year client retention rate, total client assets administered, households served, and a thorough assessment of education and professional designations.
Five Star Wealth Manager Criteria
Determination of Award Winners
Award candidates who satisfied 10 objective eligibility and evaluation criteria were name
2018 Five Star Wealth Managers.
Eligibility Criteria – Required
Credentialed as a registered investment adviser or a registered investment adviser representative
Actively employed as a credentialed professional in the financial services industry for a minimum of five years
Favorable regulatory and complaint history review
Fulfilled their firm review based on internal firm standards
Accepting new clients
Evaluation Criteria – Considered
One-year client retention rate.
Five-year client retention rate
Non-institutional discretionary and/or non-discretionary client assets administered
Number of client households served
Education and professional designations
Regulatory Review
As defined by Five Star Professional, the wealth manager has not:
Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine
Individually contributed to a financial settlement of a customer complaint
Been convicted of a felony
Within the past 11 years:
Been terminated from a wealth management or financial services firm
Filed for personal bankruptcy
Had more than a total of three settled or pending complaints filed against them (and no more than five total pending, dismissed, or denied) with any regulatory authority
Five Star Professional conducts a regulatory review of each nominated wealth manager using the Investment Adviser Public Disclosure (IAPD) website. Five Star Professional also uses multiple supporting processes to help ensure that a favorable regulatory and complain history exists. Data submitted through these processes was applied per the above criteria: Each wealth manager who passes the Five Star Professional regulatory review must attest that they meet the definition of favorable regulatory history, based upon the criteria listed above.
Five Star Professional promotes via local advertising the opportunity for consumers to confidentially submit complaints regarding a wealth manager.
DISCLOSURE: Five Star Wealth Manager award is not issued or endorsed by Guardian or its subsidiaries. Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 5280 Carroll Canyon Road, Suite 300, San Diego, CA 92121 619.684.6400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. WestPac Wealth Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Insurance products offered through WestPac Wealth Partners and Insurance Services, Inc., a DBA of WestPac Wealth Partners, LLC. This Material is Intended For General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. | CA Insurance License #0E57168 |2022-140694 Exp. 09/24