DALLAS, Dec. 22, 2010 /PRNewswire/ -- Two Southwest Securities, Inc. financial advisors in Beverly Hills, Calif. – Vice President David Penn and Gary Frazeur – have been awarded the FIVE STAR Wealth Manager(SM) Award. The 2011 FIVE STAR Wealth Managers(SM) will be featured in the January issue of Los Angeles Magazine.
FIVE STAR professionals score among the highest in overall satisfaction in their market area based on research with clients, peers and industry leaders. It is an exclusive award given to only seven percent of professionals in a given industry and market area.
Mr. Penn and Mr. Frazeur are financial advisors in Southwest Securities' Private Client Group (PCG) in Beverly Hills. Southwest Securities has six private client offices in California.
"We are proud of our financial advisors' recognition as FIVE STAR Wealth Managers(SM) because the award is based on client and peer evaluations," said David Frieden, Executive Vice President and regional director of Southwest Securities PCG in Central California/Nevada. "We congratulate these outstanding financial advisors."
QMI Research administers a survey by mail and phone in each geographic market to approximately a quarter of the high-net-worth households and all FINRA license holders. Respondents are asked to evaluate up to three wealth managers. Each client respondent is asked to evaluate only wealth managers whom they have worked with, and each peer respondent is asked to evaluate only wealth managers whom they know through personal experience.
The questionnaires are structured to make it equally easy for an individual to give negative or positive responses regarding each wealth manager evaluated. QMI Research scores the survey responses, including all responses both negative and positive, to determine which wealth managers meet the identified standards, and screens wealth managers based on their regulatory compliance history as reported by FINRA, the SEC and other regulatory authorities.
Wealth managers do not pay a fee to be included in the evaluation process or to be named as a FIVE STAR Wealth Manager(SM), and the award program and research process adhere to the guidelines established within the Investment Advisors Act of 1940 regarding third-party recognition.
Southwest Securities, Inc., a member of NYSE, FINRA and SIPC, provides securities brokerage, investment banking and securities clearing services to a broad range of individual, corporate, public and industry clients. The firm is a wholly owned subsidiary of SWS Group, Inc. (NYSE: SWS), a financial services holding company whose stock is listed and traded on the New York Stock Exchange under the symbol, SWS.
SOURCE Southwest Securities, Inc.