Schultze Asset Management Named to List of Best Financial Advisory Firms by USA Today.

Schultze Asset Management Named to List of Best Financial Advisory Firms by USA Today.

RYE BROOK, N.Y., April 27, 2023 /PRNewswire/ — Schultze Asset Management, LP, an investment firm specializing in financially troubled and distressed companies, has been named to USA Today‘s list of the Best Financial Advisory Firms of 2023. This prestigious list was created by USA Today and Statista Inc., the world-leading statistics portal and industry ranking provider, to help individuals secure the financial guidance they need in this time of stock market volatility and an uncertain economy. The full list of 500 firms can be viewed on the USA Today website.

“We are especially honored to be included on this prestigious list of the Best Financial Advisory Firms as we proudly celebrate our 25th anniversary as a firm,” said George Schultze, Founder of Schultze Asset Management. “We managed to outperform all of the major indices on a relative basis last year, which was heartening, but our goal is always to generate much higher absolute returns for our clients. We see the opportunity set for this year as very compelling and believe we are on track toward achieving our goals for 2023.”

According to USA Today there were more than 32,000 RIA firms in the U.S. at the end of 2021, managing more than $127 trillion in client assets. The total includes approximately 14,800 firms, like Schultze Asset Management, registered with the Securities and Exchange Commission. The remaining 17,300 firms each manage less than $100 million in assets and are registered with state agencies. The list by Statista for USA TODAY has culled that daunting universe of RIAs to a top 500 firms based on the growth of their assets under management over the short and long term, and recommendations from clients and peers. 

USA Today and Statista selected the Best Financial Advisory Firms in 2023 based on two dimensions: recommendations by clients and peers and a firm’s growth of Assets under Management (AUM). The recommendations were collected via an independent survey sent to over 20,000 individuals. The development of AUM was analyzed in both the short- and long-term based on publicly available data. In the consideration for the top 500 RIA firms, recommendations had a weight of 20% while the development of AUM had a weight of 80% (short-term and long-term growth were equally weighted) to derive the final score.

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