Tompkins Financial Advisors is pleased to announce that our own Anthony L. Gugino, CFP®, Executive Vice President and Wealth Advisor, has been named one of the nation's Top Financial Advisors, in Bank Investment Consultant's annual recognition program. Placing in the Top 25, he ranked #17 and we couldn't be prouder! With more than 30 years in the industry, Tony Gugino "aims to provide a level of service that looks and feels like a family office for all clients. Due to a modest upbringing, he remains grateful to those who gave him a chance early in his career and have supported him since, and tries to give back both as a mentor in the financial industry and to the community at large."
Congratulations, and well-deserved, Tony!
There’s no one way to make it to the BIC Top 100. The bank advisors who made the cut this year took different paths and used diverse strategies.
Some embraced technology to the hilt. Others insist that tech takes a back seat in this face-to-face business. In fact, our No. 1 advisor this year said he’s probably the least social media savvy advisor in the country.
One doesn’t believe in account minimums; one sets a soft minimum of $5 million. A few said they shun the idea of tier-level servicing and treat all customers the same. Many talk of roadmaps (one even calls himself a cartographer), while others emphasize essentially becoming a friend to their clients, instead of just being their advisor.
They also took different career paths to get to the top of the bank channel. One wealth manager was previously an engineer; another managed an assisted-living facility; one was an advisor to officials in the U.S. intelligence community. They all attribute their current success to skills learned on those previous jobs. Others are lifelong advisors, often having started their career working alongside a parent.
But you know all that. We’ve done this list long enough to know that most readers go straight for the slideshows before they read the intro. So most of you have already seen the pictures and read the bios. And now you’re wondering how the advisors were ranked.
To make the list, a combination of six factors were considered. Typical measures of size were used, such as AUM and production. But other metrics were also used, such as percentage changes in both AUM and production, as well as the amount of fee business from the most recent production figures and, finally, the ratio of production per AUM. Those variables were combined into one composite score to determine the final ranking. (We used AUM as of the end of August, and production of the 12-month period ending Aug. 31. We also rounded numbers for display in the slideshow, but all of our calculations used the full numbers submitted, before rounding.)
We use multiple metrics to get a more well-rounded view of advisors in the bank channel. The advisors listed here are not just home-run hitters. They are the all-around players skilled in every aspect of their game. This is the way to make any team great.
We've tinkered a bit with the metrics and their weightings over the years. Most notably, the importance of fee business has been increased from the tack-on element it was in past years to one of the more important considerations. In fact, fee business was one of our top-tier weightings in this year’s list. (Number of years on the job was not used in determining the ranking.)