CERTIFIED FINANCIAL PLANNER™
CERTIFIED FINANCIAL PLANNER™ certification is a widely recognized designation in the financial services industry. CFP® professionals meet rigorous education, training and ethical standards, and are committed to serving their clients' best interests today to prepare them for a more secure tomorrow.
With our CERTIFIED FINANCIAL PLANNER™ background, we provide our clients with a comprehensive approach to wealth management consistent with their goals, keep them informed about their money, and provide these services in a first class environment.
Comprehensive wealth is more than investments. The four cornerstones of wealth are:
- Investments
- Liability Management
- Risk Management
- Trust & Estate Planning
Five Star Professional
Pharos Financial Advisors is delighted to announce that Steve Berman, Financial Advisor, has been named a 2023 Forbes Best-In-State Wealth Advisor and a 2024 Five Star Wealth Manager! Congratulations Steve!
Five Star Professional conducts market research to define and promote professional excellence in the professions we serve. The Five Star designation assists consumers in selecting a service professional based on an objective research methodology tailored to the specific profession.
Five Star Professional joins forces with local and national media partners to publish our research to consumers and promote Five Star-designated professionals in more than 45 markets across the United States.
Five Star Professional was founded in 2003 and is based in Eagan, Minnesota.
Steven Berman, Financial Advisor was recognized as a Five Star Wealth Manager for 2013-2022
This award was issued on 8/1/24 by Five Star Professional (FSP) for the time period 10/10/23 through 5/31/24. 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. 1665 Cleveland-area wealth managers were considered for the award; 56 (3% 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: 1,721, 52, 3%, 7/1/23, 11/14/22 - 5/5/23; 2022: 1685, 51, 3%, 7/1/22, 10/25/21 - 4/22/22; 2021: 1692, 48, 3%, 7/1/21, 7/6/20 - 5/14/21; 2020: 1548, 62, 4%, 3/1/20, 5/13/19 - 1/24/20; 2019: 1558, 71, 5%, 2/1/19, 5/16/18 - 12/7/18; 2018: 1437, 53, 4%, 2/1/18, 5/22/17 - 12/12/17; 2017: 872, 117, 13%, 1/1/17, 4/26/16 - 12/27/16; 2016: 828, 123, 15%, 1/1/16, 7/27/15 - 12/31/15; 2015: 1595, 130, 8%, 2/1/15, 7/27/14 - 12/31/14; 2014: 1838, 151, 8%, 2/1/14, 7/27/13 - 12/31/13; 2013: 1485, 169, 11%, 2/1/13, 7/27/12 - 12/31/12.
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.
Forbes Best-in-State Wealth Advisors
The Forbes Best-in-State Wealth Advisors rating algorithm is based on the previous year’s industry experience, interviews, compliance records, assets under management revenue and other criteria by SHOOK Research, LLC. Investment performance is not a criterion. Self-completed survey was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. Fee paid for use of logo.
2024 Forbes Best-In-State Wealth Advisors: Awarded April 2024; Data compiled by SHOOK Research LLC based on the time period from 6/30/22 - 6/30/23 (Source: Forbes.com). Fee paid for use of marketing materials. 2023 Forbes Best-In-State Wealth Advisors: Awarded April 2023; Data compiled by SHOOK Research LLC based on the time period from 6/30/21 - 6/30/22 (Source: Forbes.com). The Forbes Best-in-State Wealth Advisors rating algorithm is based on the previous year’s industry experience, interviews, compliance records, assets under management, revenue and other criteria by SHOOK Research, LLC. Investment performance is not a criterion. Self-completed survey was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria.
This award was issued on 07/01/2023 by Five Star Professional (FSP) for the time period 10/10/2022 through 05/05/2023. Fee paid for use of logo. 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. 1,721 Cleveland-area wealth managers were considered for the award; 52 (3% of candidates) were named 2023 Five Star Wealth Managers. The following prior year statistics use this format: YEAR: # Considered, # Winners, % of candidates, Issued Date, Research Period. 2022: 1685, 51, 3%, 7/1/22, 10/25/21 - 4/22/22; 2021: 1692, 48, 3%, 7/1/21, 7/6/20 - 5/14/21; 2020: 1548, 62, 4%, 3/1/20, 5/13/19 - 1/24/20; 2019: 1558, 71, 5%, 2/1/19, 5/16/18 - 12/7/18; 2018: 1437, 53, 4%, 2/1/18, 5/22/17 - 12/12/17; 2017: 872, 117, 13%, 1/1/17, 4/26/16 - 12/27/16; 2016: 828, 123, 15%, 1/1/16, 7/27/15 - 12/31/15; 2015: 1595, 130, 8%, 2/1/15, 7/27/14 - 12/31/14; 2014: 1838, 151, 8%, 2/1/14, 7/27/13 - 12/31/13; 2013: 1485, 169, 11%, 2/1/13, 7/27/12 - 12/31/12. 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.
Certified Divorce Financial Analyst
Financial professionals who specialize in divorce are needed to help clients through the financial implications of their separation. Certified Divorce Financial Analysts assess a client’s financial situation and help them understand the short- and long-term effects of their divorce. From choosing which assets to fight for to avoiding unforeseen tax consequences, Certified Divorce Financial Analyst’s can help clients avoid the many financial pitfalls of divorce.