Newsweek Nominates Covenant Wealth Advisors as One of America's Top Financial Advisory Firms
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Newsweek Nominates Covenant Wealth Advisors as One of America's Top Financial Advisory Firms

Writer: Mark Fonville, CFP®Mark Fonville, CFP®

Updated: Jan 28


Covenant Wealth Advisors Nominated by Newsweek as One of America's Top Financial Advisory Firms

We are proud to announce that Covenant Wealth Advisors has been recognized as one of America's Top Financial Advisory Firms by Newsweek for 2025. Even more remarkable, we are one of only two firms in Virginia to receive their 5-star rating.


This recognition isn't just an accolade – it's a testament to the extraordinary dedication, expertise, and genuine care that our team brings to work every day. To our incredible colleagues and advisors: your commitment to serving our clients with integrity, wisdom, and compassion continues to inspire me. You've turned our mission of helping families achieve their financial dreams into a reality.



Covenant Wealth Advisors was nominated as one of America's top financial advisory firms in 2025 by Newsweek.

To our valued clients: thank you for your trust and partnership. This recognition ultimately reflects the relationships we've built together and the impact we've been privileged to make in your lives.


While awards are wonderful acknowledgments, our true measure of success remains unchanged – helping our clients navigate their financial journeys with clarity, confidence and peace of mind. Here's to continuing this mission together.


 

Disclosure:







METHODOLOGY from Newsweek:


"Plant-A Insights Group and Newsweek have partnered to identify America's Top Financial Advisory Firms 2025. We analyzed over 15,000 Financial advisories registered with the SEC, and then applied the following methodology to identify the best of the best.


We began by shortlisting firms with more than $20 million assets under management (AUM), a minimum of 3 wealth advisors, at least 5 individual clients, and at least two years of SEC registration. Firms were also screened for clean disciplinary records and availability of portfolio management services to individual investors. These shortlisted firms were then analyzed and scored based on the following factors:


• Asset Performance: Growth in assets under management indicates both financial performance and the health of a firm's client base, the cornerstones of advisory excellence. We include both short-term (Sept 2024 vs Sept 2023) and long-term (CAGR Sept 2019 to Sept 2024) measures of asset growth in our scoring model.

• Client Performance: Great advisories retain their clients and attract new ones. We again include both short and long-term measures of client base growth/shrinkage for short term (Sept 2024 vs Sept 2023) and long term (CAGR Sept 2019 to Sept 2024).

• Adviser Expertise and Client Ratio: We include measures that capture the credentialed expertise of each firm as well as their client-to-adviser ratio.

• Breadth of service offerings: Great firms offer a bundle of related services for their investors. We considered the number of other wealth advisory services in our scoring model, such as financial planning services and pension consulting services.

• Conflicts of interests: The best advisories work to prevent conflicts of interest; firms with conflicts of interests are penalized in the scoring model.


We calculate a score for each firm. The top 750 Financial Advisory Firms have been recognized as America's Top Financial Advisory Firms 2025. The performance of firms not included in the ranking is not disputed.


DISCLAIMER

Rankings Placement

Placement in the Rankings (defined below) is a positive recognition based on research of publicly available data sources from the time period in question. Newsweek and Plant-A Insights make no claim to the completeness of the firms examined.


Intellectual Property Rights

All content within the rankings ("Rankings") is the exclusive property of Plant-A Insights Group LLC ("Plant-A"). This work, including all data, analyses, and derived rankings, is copyrighted under United States and international copyright laws. Unauthorized use, including but not limited to the publication, reproduction, modification, distribution, transmission, or display of any material without the prior written consent of Plant-A, is strictly prohibited.


Nature of the Rankings

The Rankings are prepared by Plant-A and reflect an editorial content piece, based on secondary market research. This includes publicly available data and specific data provided directly to Plant-A. These Rankings are published in conjunction with Newsweek and should be viewed as an editorial work, not as definitive financial or business guidance. The ranking only includes firms that qualify according to the criteria described in this document.


Data Accuracy and Periodicity

The Rankings are generated from Investment Adviser Information Reports data sourced from SEC for the month of September 2024. They are inherently a reflection of historical data and may not include subsequent developments, unforeseen events, or additional data not covered during the research period. The results of this ranking should not be used as sole source of information for future deliberation. The information provides through this list should rather be considered in conjunction with other available information about the financial advisory firm. The quality of financial advisory firms that are not included in the ranking is not disputed.


No Endorsement or Quality Assurance

Plant-A does not endorse nor validate the business practices or the standing of the ranked companies. The inclusion or exclusion of any company in the Rankings should not be used as a basis for Financial, business, or other decisions. All decisions based on any information presented in the Rankings should be made in conjunction with other available information and independent advice.


Disclaimer of Liability

Plant-A, its subsidiaries, and their respective officers, directors, employees, and agents (collectively, the "Plant-A Parties") disclaim all liability and responsibility for any errors or omissions in the Rankings or for any actions taken based on the contents of this publication. Neither Plant-A nor Newsweek guarantees the completeness or accuracy of the information contained in the Rankings.


By accessing, using, or relying upon the Rankings, you waive all claims and have no recourse against Plant-A Parties for any alleged or actual infringements of any rights of any party, including privacy rights, proprietary rights, intellectual property rights, rights of publicity, rights of credit for material or ideas, or any other rights, including the right to approval of uses such as copy that may be deemed to be distorted, derogatory, or offensive.


This disclaimer is intended to be as broad and inclusive as permitted under the law. If any portion hereof is held invalid or unenforceable, the remainder of the disclaimer shall nonetheless remain in full force and effect. This disclaimer constitutes the entire agreement between you and Plant-A regarding the use of the Rankings."

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Disclosures:

Services offered by Covenant Wealth Advisors (CWA), a fee only financial planner and registered investment adviser with offices in Richmond, Va and Williamsburg, Va. Registration of an investment advisor does not imply a certain level of skill or training. Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks. Investments involve risk and there is no guarantee that investments will appreciate. Past performance is not indicative of future results. By entering your info into our forms, you are consenting to receive our email newsletter and/or calls regarding our products and services from CWA. This agreement is not a condition to proceed forward. Case studies presented are purely hypothetical examples only and do not represent actual clients or results. These studies are provided for educational purposes only. Similar, or even positive results, cannot be guaranteed.

 

Awards and Recognition

 

Covenant Wealth Advisors was nominated by Newsweek/Plant-A-Insights Group in November of 2024 as one of America's Top Financial Advisory Firms for 2025. You may access the nomination methodology disclosure here and a list of financial advisory firms selected.

 

CWA was awarded the #1 fastest growing company by RichmondBizSense on October 8th, 2020 based on three year annual revenue growth ending December 31st, 2019. To qualify for the annual RVA 25, companies must be privately-held, headquartered in the Richmond region and able to submit financials for the last three full calendar years. Submissions were vetted by Henrico-based accounting firm Keiter. 

 

Expertise.com voted Covenant Wealth Advisors as one of the best financial advisors in Williamsburg, VA  and best financial advisors in Richmond, VA for 2025 last updated as of this disclosure on February 12th, 2025 based on their proprietary selection process. 

 

CWA was nominated for the Forbes Best-In-State Wealth Advisor 2022 ranking for Virginia on April 7th, 2022. Forbes Best-In-State Wealth Advisor full ranking disclosure. Read more about Forbes ranking and methodology here.

CWA is a member of the Better Business Bureau. We compensate the BBB to be a member and our BBB rating is independently determined by the BBB.

 

CWA did not compensate any of the entities above for the awards or nominations. These award nominations were granted by organizations that are not CWA clients. However, CWA has compensated Newsweek/Plant-A Insights Group for licensing and advertising of the nomination and compensated Expertise.com to advertise on their platform.

 

While we seek to minimize conflicts of interest, no registered investment adviser is conflict free and we advise all interested parties to request a list of potential conflicts of interest prior to engaging in a relationship.

Client retention rate is calculated by (total clients at end of period - new clients acquired during period)/total clients at start of period) x 100%. 

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