Five Star award winner Patrick L. Carney, CFP®, CIMA®, AIF®

PROFESSIONAL PROFILE

Contact Me

Patrick L. Carney, CFP^®, CIMA^®, AIF^®

Vice President, Director of Personal Wealth Management

Foresight Capital Management Advisors

1205 Industrial Dr

Saline, MI 48176

Office: 877-429-4690

Cell: 248-504-8652

pcarney@fcmadvisors.net
www.fcmadvisors.net

Professional Approach

Patrick Carney works as Vice President, Director of Personal Wealth Management at Foresight Capital Management Advisors, Inc. Patrick’s major responsibilities have included personal financial planning, fiduciary consulting of best practices for the 501(c) 3 organizations statewide, 401(k) educational presentations, and one-on-one meetings with 401(k) plan participants and families. He started with the firm as an intern in May 2017 while studying at the University of Michigan-Dearborn. After completing his BBA with a major in finance and specialization in financial services from the University of Michigan-Dearborn, Patrick joined FCMA as a full-time Investment Analyst in January 2018. Patrick successfully passed the AIF® exam in April 2018 and the CFP® Board certification exam in November 2019. Patrick then went on to study Investment Management Theory & Practice at the Yale School of Management before passing the CIMA® exam and obtaining the certification in July, 2021. Patrick was featured in the July issue of NAPFA Advisor magazine where they talked about his journey into the financial planning industry and his experience working at Foresight as a young Fee-Only Financial Advisor.

Foresight Capital Management Advisors, Inc. is an independent fee only registered investment advisory firm that focuses on individual wealth management and corporate retirement plan services. Our team of experienced financial advisors is committed to understanding your unique life goals. We will develop a comprehensive wealth management or targeted strategy that will encompass all aspects of financial situations you request. FCMA is proudly based out of the Ann Arbor – Saline area in Michigan. Services are fee only advising and full-disclosure fee reporting.

See Accomplishments

This award was issued on 5/1/24 by Five Star Professional (FSP) for the time period 9/5/23 through 2/29/24. Fee paid for use of marketing materials. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. 3651 Detroit-area wealth managers were considered for the award; 278 (8% of candidates) were named 2024 Five Star Wealth Managers. The following prior year statistics use this format: YEAR: # Considered, # Winners, % of candidates, Issued Date, Research Period. 2023: 3,550, 312, 8.7%, 5/1/23, 9/5/22 - 3/3/23; 2022: 3273, 304, 9%, 5/1/22, 9/3/21 - 3/11/22; 2021: 3260, 274, 8%, 5/1/21, 8/10/20 - 3/19/21; 2020: 3105, 284, 9%, 5/1/20, 8/1/19 - 3/20/20; 2019: 2987, 347, 12%, 5/1/19, 8/21/18 - 3/19/19; 2018: 3069, 322, 10%, 5/1/18, 8/30/17 - 3/19/18; 2017: 1836, 356, 19%, 5/1/17, 8/24/16 - 2/24/17; 2016: 1961, 630, 32%, 4/1/16, 10/22/15 - 3/9/16; 2015: 2238, 627, 28%, 5/1/15, 10/22/14 - 3/9/15; 2014: 3448, 658, 19%, 5/1/14, 10/22/13 - 3/9/14; 2013: 2762, 749, 27%, 5/1/13, 10/22/12 - 3/9/13; 2012: 2658, 745, 28%, 5/1/12, 10/22/11 - 3/9/12.

Click to access BrokerCheck

Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. The award is based on 10 objective criteria. Eligibility criteria - required: 1. Credentialed as a registered investment adviser (RIA) or a registered investment adviser representative; 2. Actively licensed as a RIA or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by FSP, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or FSP's consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through FSP's consumer complaint process; feedback may not be representative of any one client's experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria - considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. FSP does not evaluate quality of services provided to clients. The award is not indicative of the wealth manager's future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their clients' assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by FSP or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by FSP in the future. Visit www.fivestarprofessional.com.