Disclosure

The Barron’s List of “Top 100 Independent Advisors” is an annual ranking that is released in September of each year. The Barron’s List of “Top Advisors in Michigan”, also known as “Top 1500 Advisors”, is an annual ranking that is released in March of each year. Advisors who wish to be considered are subject to a prequalification process designed to identify experienced and established advisors. Those who meet the criteria then fill out a detailed survey regarding their practices. Barron’s verifies the data from the survey with the advisors’ firms and through regulatory databases, such as the SEC and FINRA. Barron’s applies a proprietary methodology to this data to generate the final rankings. The formula features three primary categories of calculations: assets under management, revenue produced, and quality of practice (which includes the advisor’s experience, advanced degrees and industry designations, size and diversity of staff, charitable and philanthropic work, and regulatory and compliance records). Portfolio performance and investment returns are not a component of the rankings. They are excluded because audited performance results are not available for all advisors and returns are often more a reflection of a client’s specific risk tolerance than an advisor's skill. This methodology and criteria apply to the “Top 100 Independent Advisors” and “Top Advisors in Michigan” rankings for the current year. While the general approach has remained consistent, methodologies may vary for prior years.

Barron’s is a registered trademark of Dow Jones & Company. Zhang Financial is not affiliated with Barron’s or Dow Jones & Company. Barron’s does not publish the number of nominees considered for the “Top 100 Independent Advisors” and “Top Advisors in Michigan” rankings. Barron’s does not require membership or payment for participants and/or applicants to be considered for rankings. Zhang Financial does not pay a fee to be eligible for the “Top 100 Independent Advisors” and “Top Advisors in Michigan” rankings. However, Zhang Financial pays an annual licensing fee in exchange for the right to use Barron’s rankings and logos in marketing materials and related promotional features. This fee may also include items such as plaques, logo usage rights, web links, or article reprints commemorating the designation. Zhang Financial pays the annual fee independently of the election process and is not a condition for being considered for or receiving any current or future ranking. Prospective and current clients should consider this arrangement when evaluating the ranking.

Barron's List of 2025 Top Independent Advisors

Barron's List of 2026 Top Advisors by State

Barron's Methodology

The Forbes List of “America’s Top Wealth Advisors” and “Best-In-State Wealth Advisors” are annual rankings that are released in April of each year. The Forbes List of “Top RIA Firms” is an annual ranking that is released in October of each year. These rankings are developed by SHOOK Research and are based on a combination of 1) qualitative criteria obtained through telephone, virtual, and in-person due diligence interviews, and 2) quantitative data, such as revenue trends and assets under management. The methodology additionally weigh factors, such as service models, compliance records, and industry experience, focusing on those candidates that encompass best practices in their approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited performance data. Advisors and RIA firms are generally required to apply for consideration and meet eligibility requirements. This methodology applies to “America’s Top Wealth Advisors”, “Best-In-State Wealth Advisors”, and “Top RIA Firms” rankings for the current year. While the general approach has remained consistent, methodologies may vary for prior years.

Forbes is a registered trademark of Forbes LLC. SHOOK Research is an organization independent of Forbes that conducts the research and creates the rankings in partnership with Forbes. Neither Forbes nor SHOOK Research are affiliated with Zhang Financial. Forbes and SHOOK do not receive a fee or require membership in exchange for rankings. Accordingly, Zhang Financial and Charles Zhang do not pay a fee to be eligible for the rankings. However, Zhang Financial pays an annual licensing fee in exchange for the right to use Forbes rankings and logos in marketing materials and related promotional features. This fee may also include items such as plaques, logo usage rights, web links, or article reprints commemorating the designation. Zhang Financial pays the annual fee independent of the election process and is not a condition for being considered for or receiving any current or future ranking. Prospective and current clients should consider this arrangement when evaluating the ranking.

Forbes List of 2026 America’s Top Wealth Advisors

Forbes List of 2026 Best-In-State Wealth Advisors

Forbes List of 2025 Top RIA Firms

SHOOK Research Methodology (Advisors)

SHOOK Research Methodology (RIA Firms)

Client Statistics Survey Results
In 2024 Zhang Financial sent out 1,258 surveys to clients with over $500,000 under management and at least 1 year with Zhang Financial. 732 completed surveys were received back, a ratio of 58%. 100% of clients selected “very satisfied” with Zhang Financial. 100% of clients stated they would recommend Zhang Financial to family and friends. On a scale of 1 to 5, 5 being “excellent”, 99.45% of clients ranked their experience with their client service managers 4 and above. Our current assets under management minimum for new clients is one million.

Client Retention:
The client AUM Retention Ratio for 2024 was calculated by taking the AUM at the beginning of the year for clients who remained active at the end of the year, divided by the total AUM at the beginning of the year. Clients who passed away, as well as new clients acquired during the year were excluded from the calculation.

Ernst & Young Entrepreneur Of The Year® 2024 Michigan and Northwest Ohio Award

Ernst & Young’s award program recognizes ambitious leaders of high-growth companies who are creating a more equitable, sustainable, and prosperous world for future generations.

The regional winners were chosen by an independent judging panel made up of previous award winners, leading CEOs and other business leaders. Candidates were evaluated based on their success in creating long-term value through entrepreneurial spirit, commitment to their purpose and the demonstration of growth and substantial impact, among other key indicators.

Entrepreneur Of The Year honors many different types of business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to fortify it for the future.

Methodology:

EY Announces Winners for the Entrepreneur Of The Year® 2024 Michigan and Northwest Ohio Award | EY - US

Better Business Bureau Torch Award for Ethics – Methodology & Criteria

The Better Business Bureau Torch Award for Ethics is an annual, regional recognition presented by the Better Business Bureau Serving Western Michigan to organizations demonstrating a commitment to ethical business practices. The award is based on qualitative criteria, including leadership, integrity, customer relationships, and community involvement, and is determined through an application and review process. Multiple recipients may be recognized, and not all organizations are considered. This recognition was awarded in 2022. Zhang Financial did not pay a fee to be considered for or to receive this award. The award is not indicative of future performance or client experience and should not be construed as an endorsement.

NAPFA FEE-Only Registered Financial Advisors

Both Charles Zhang and Lynn L. Chen-Zhang are National Association of Personal Financial Advisors (“NAPFA”), registered financial advisors. To qualify as a NAPFA registered financial advisor, the program requires individuals to be a fee only financial advisor subject to third party ADV review, have a bachelor’s degree from an accredited institution, earned the Certified Financial Planner ® certification, submit a comprehensive financial plan or participate in a peer review dialogue with a third party plan/peer reviewer both of which are reviewed using a check list, complete 60 continuing education credits in six subject areas every two years. Additionally, his/her Form ADV may be reviewed by NAPFA. NAPFA-registered advisors renew a fiduciary oath yearly, subscribe to NAPFA's Code of Ethics and pay annual dues.

Additional information regarding the above NAPFA registration is available at the following link:

https://www.napfa.org/membership/our-standards

Homepage Disclosures 1, 2 and 3

¹Zhang Financial's regulatory Assets Under Management as of December 31, 2025. Zhang Financial's regulatory Assets Under Manaagment can be found in Zhang Financial's Form ADV Part 2 available at http://www.adviserinfo.sec.gov.

²Zhang Financial formerly operated under dba Zhang & Associates

³The AUM Retention Ratio for 2024 was calculated by taking the AUM at the beginning of the year for clients who remained active at the end of the year, divided by the total AUM at the beginning of the year. Clients who passed away, as well as new clients acquired during the year, were excluded from the calculation.