Five Star award winner Elizabeth Gregg, MBA, ChFC™, CDFA™

What do the ChFC and a CDFA professional designations mean?

What is a Chartered Financial Consultant (ChFC®)?

The ChFC is a designation granted to individuals who have completed the 7 college level courses for the CFP plus two additional financial planning classes. ChFC charterholders are held to a fiduciary standard and require on-going continuing education.

What is a Certified Divorce Financial Analyst® ?

A CDFA professional is a financial professional skilled at analyzing data and providing expertise on the financial issues of divorce. The role of the CDFA professional is to assist the client and his or her attorney to understand how the decisions he or she makes today will impact the client’s financial future. A CDFA can take on many roles in the divorce process:

Financial Expertise and Strategy

CDFA professionals provide the client and attorney with data analysis that shows the financial effect of any given settlement. They become part of the divorce team and provide support on financial issues such as:

· Understanding the short-term and long-term effects of dividing property.

· Analyzing pensions and retirement plans.

· Determining if the client can afford the marital home, and if not, what he or she can afford.

· Recognizing the tax consequences of different settlement proposals.

Data Collection and Analysis

Much of a CDFA professional’s role is collect the client’s financial data and perform analysis. CDFAs can help manage a client’s expectations of their financial future by presenting different scenarios and talking through the client’s budget and expenses. CDFAs are trained to:

· Collect financial and expense data.

· Help clients identify their future financial goals.

· Develop a budget.

· Set retirement objectives.

· Determine how much risk they are willing to take with their investments.

· Identify what kind of lifestyle they want.

Reprinted with permission from the website of THE INSTITUTE FOR DIVORCE FINANCIAL ANALYSTS™.

Link to www.institutedfa.com

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This award was issued on 8/1/24 by Five Star Professional (FSP) for the time period 10/10/23 through 4/30/24. 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. 1690 Charlotte-area wealth managers were considered for the award; 99 (6% 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: 1,677, 105, 6.2%, 8/1/23, 10/10/22 - 5/5/23; 2022: 1519, 101, 7%, 8/1/22, 10/11/21 - 4/22/22; 2021: 1514, 106, 7%, 8/1/21, 10/5/20 - 4/30/21; 2020: 1488, 103, 7%, 8/1/20, 10/28/19 - 5/8/20; 2019: 1346, 129, 10%, 8/1/19, 10/22/18 - 5/24/19; 2018: 1342, 104, 8%, 8/1/18, 11/22/17 - 5/25/18; 2017: 949, 132, 14%, 8/1/17, 11/23/16 - 6/7/17; 2016: 873, 227, 26%, 7/1/16, 1/21/16 - 6/15/16; 2015: 1822, 277, 15%, 8/1/15, 1/21/15 - 6/15/15; 2014: 6776, 409, 6%, 8/1/14, 1/21/14 - 6/15/14; 2013: 1694, 280, 17%, 8/1/13, 1/21/13 - 6/15/13; 2012: 1083, 267, 25%, 8/1/12, 1/21/12 - 6/15/12.

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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.