A look at the top retirement industry groups who made Inc. 5000’s fastest-growing list
Business media group Inc. dropped its latest coveted Inc. 5000 list this week, including several key retirement industry organizations in its catalogue of the fastest-growing private companies in the U.S.
According to Inc., its 2024 list represent companies that have “driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges.” These companies have navigated and succeeded past a global pandemic and are proven to generate economic growth in the coming years. Companies included in the Inc. 5000 list have produced 874,940 jobs in the past three years, and among the top 500 companies, the median three-year revenue growth is 1,637%.
“One of the greatest joys of my job is going through the Inc. 5000 list,” said Mike Hofman, editor-in-chief of Inc, in a statement. ” Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
To be featured in the Inc. 5000 list, companies must have been founded and generated revenue by March 31, 2020, and must be U.S.-based, privately held, for-profit, and independent. These companies must have also generated at least $100,000 in revenue for 2020 and a minimum of $2 million in 2023.
While readers can now find online features of all 5,000 companies on Inc.com, the top 500 companies will appear in Inc.’s September issue, slated to be on newsstands Tuesday, August 20.
Within those 5,000 companies includes several financial advisory firms, wealth managers, and fintech platforms poised to disrupt the market within the next years, and even some who landed the top 500 list.
See in the next pages for those who placed in the leading spots, and click here for a more comprehensive list of the 5,000 companies disrupting the market.
1,348: Abich Financial Services
Placing within the top 1,500, the Ashburn, Virginia-based Abich Financial Services is a retirement planning and fiduciary financial firm that aims to reduce financial stress for clients and enable retirement confidence.
Established in 2008, the firm advises clients over age 55 on retirement income planning, investment planning, Social Security, required minimum distributions (RMDs), tax planning, annuity and pension planning, and 401(k) planning. 2024 marks the third year in a row that the firm has been recognized for its efforts on the Inc. 5000 list.
“It’s an honor and privilege to receive this award for the third year in a row,” said Abe Abich, founder and CEO. “Our growth is directly attributed to the amazing team we have and our hard-working clients who trust us with their life’s savings.”
According to Inc., the financial services firm is poised to hit a 383% growth rate within the next three years. This growth comes with the addition of 13 new team members over the course of the year, along with a 7,600 square-foot office expansion earlier this month, stated the firm in a press release.
1,256: Fiduciary Financial Advisors
Located in Grand Rapids, Michigan, Fiduciary Financial Advisors is an independent financial planning and investment management firm focused on producing high value-added work at lower costs. The firm was also highlighted in Inc. 5000’s list in 2022 and 2023, placing 1,182 and 1,337, respectively.
“We are honored to be ranked #1256 overall, #4 in Grand Rapids, #79 in Financial Services, and #20 in Michigan,” the firm wrote on its LinkedIn page Wednesday. “This recognition reflects the dedication of our Advisors, Service Team and the trust of our clients. Thank you for your continued support and for being part of our journey!”
Founded in 2014 and led by Ben VerWys, Fiduciary Financial Advisors has an anticipated three-year growth rate of 412%.
1,114: Emparion
Gilbert, Arizona-based Emparion works as a provider of retirement plan structures including 401(k)s, defined benefit (DB) plans, and cash balance plans.
Furthermore, Emparion’s planning professionals offer their services in self-directed 401(k) plans, third-party administration and compliance, and strategic consulting and advisory services. Emparion has a 459% three-year growth rate.
“We are excited to be recognized as one of the fastest-growing companies in the U.S. The recognition that Emparion has received from Inc. 5000 is a testament to all of the employees who work tirelessly to support our clients,” said Paul Sundin, founder and CEO of Emparion, in a statement. “Our team works diligently to achieve our goal of delivering best-in-class retirement structuring. We are committed to achieving continued growth and supporting our clients with their retirement needs.”
1,100: OneAscent
Priding itself as a wealth manager for faith-based investors and advisors, OneAscent, based in Birmingham, Alabama, has a three-year growth rate of 465% in Inc.’s 5,000 list. The faith-based firm delivers “Kingdom class” financial solutions to advisors and investors, including its divisions OneAscent Financial Services, OneAscent Investment Solutions, OneAscent Capital, OneAscent Wealth Management, and OneAscent Family Offices.
OneAscent offers its services to advisory firms across the U.S., including Tennessee, South Carolina, Florida, and Texas, among other states.
1,091: Crescent Wealth Management
Founded in 2003, the Atlanta-based, employee-owned registered investment advisor (RIA) integrates asset protection and asset management competencies for its clientele.
Specifically, Crescent Wealth Management notes its values include independence, objectivity, transparency, and fair pricing.
With an estimated three-year growth rate of 468%, Crescent secured its highest ranking so far of 1,091 in 2024, compared to 2,511 in 2023 and 1,700 in 2022.
976. Bright Lake Wealth Management
With a three-year growth rate of 522%, financial services firm Bright Lake Wealth Management assists clients in retirement planning, wealth management, income strategies and investment tax planning.
Since its founding in 2012, the firm has helped 2,000 families retire comfortably, and has expanded to several cities, most recently in Medford, Oregon in 2018.
“Here at Bright Lake we are passionate about helping individuals retire with confidence and that is represented in our goals for the future. We believe a business with a vision will help carry our clients into future,” writes Bright Lake on its website.
872. IRALOGIX
Technology and recordkeeping platform IRALOGIX works with clients to serve all market segments regardless of account size or type. The firm, founded in 2015 and headquartered in Pittsburgh, offers fully digital, customizable IRA recordkeeping solutions.
2024 is the first year IRALOGIX has been named to Inc.’s 5,000 list, with an anticipated three-year growth rate of 574%.
“Today we were honored to be named one of Inc. 5000’s fastest growing private companies in America. Our ranking is a strong reflection of tremendous growth fueled by a forward-thinking culture,” wrote the company on its LinkedIn page.
The ranking comes several months after the firm announced its partnership with economist Shlomo Benartzi’s PensionPlus platform, in an effort to bring retirement income planning to participants.
722. Secure Investment Management
With a potential growth rate of 664% over the next three years, the holistic financial planning firm focuses on conservative planning for retirees and pre-retirees needing retirement income in the long-term.
According to the firm, Secure Investment Management manages “as much risk as possible through globally diversified asset classes that recognize the world of opportunity in equity and fixed income markets.”
“We aim to help you achieve your financial goals with minimal risk and volatility, and we strive for your experience with us to be enjoyable, comfortable and profitable,” the firm adds on its site. “It’s our calling to thoroughly educate you about your options and to help you choose what’s best for you.”
669. Big Money Retirement Solutions
As a fiduciary firm in Greenville, South Carolina, Big Money Retirement Solutions provides personalized financial planning services designed to help manage and safeguard wealth.
The firm, founded by Johnathan Burgess in 2020, focuses on the value of independent financial advice, with target clients being retirees and pre-retirees ages 55 to 75.
This is Big Money’s first appearance in Inc.’s 5000 list, with an expected three-year growth rate of 701%.
499. Vestwell
As a fintech savings and investment platform, Vestwell exclusively works with small businesses and individual savers across the U.S. Founded in 2016 in New York, this marks the third time the company is mentioned on Inc. 5000’s list, first in 2022 at No. 435 and then in 2023 at No. 597.
For 2024, the fintech firm has a three-year growth rate of 888%.
“I’m beyond proud of our team to clear such a high bar, moving up the ranks into the top 10% of the Inc. 5000 Fastest Growing Companies,” said Vestwell founder and CEO Aaron Schumm, in a statement. “The perseverance and focus to achieve this recognition three consecutive years illustrates our team’s ability to impact access to holistic savings programs built for retirement, education, and healthcare needs.”
391. Directed IRA
Directed IRA, founded in Phoenix, Arizona in 2018, provides self-directed IRAs and retirement accounts that can be invested into non-publicly traded assets like real estate, start-ups, and cryptocurrency.
The firm offers a structure to clients consisting of an annual fee of $395, regardless of the value of the account or the number of assets.
Currently, the company has more than $1.8 billion in assets under custody and over 20,000 client accounts. It has a predicted three-year growth rate of 1,134%, according to Inc.
316. Wedmont Private Capital
Landing as the top retirement-focused firm to hit Inc. 5000’s list, Wedmont Private Capital are fiduciary and flat-fee financial advisors who specialize in private wealth management for high-net-worth investors.
The company, headquartered in West Chester, Pennsylvania and founded in 2019, has an anticipated three-year growth rate of 1,350%. In January, the firm announced it hit $1.5 billion in assets under management (AUM), just four years after its launch.
“This is an exciting honor,” said Wedmont co-founder James Pelletier, in a statement. “This is a testament to the tireless work and dedication of our team, as well as the trust and support of our clients.”
Unlike traditional firms where clients pay a percentage of their assets to their advisor every year, Wedmont charges clients an annual fixed flat fee of $12,500.
Wedmont’s co-founder Dominic Corabi, added, “Our rapid organic growth demonstrates that there is a huge market for exceptional advice provided at a reasonable cost. If clients of traditional firms want to stop paying egregious fees without sacrificing service and sophistication, Wedmont is their answer.”