Two R.I.ers make it to Barron’s top adviser list

MALCOLM A. MAKIN, 70, of Westerly-based Professional Planning Group, has made it onto Barron's 2015 Top 100 Independent Financial Advisors list, along with Matthew A. Young, of Newport-based Richard C. Young & Co. Ltd. / COURTESY MALCOLM A. MAKIN
MALCOLM A. MAKIN, 70, of Westerly-based Professional Planning Group, has made it onto Barron's 2015 Top 100 Independent Financial Advisors list, along with Matthew A. Young, of Newport-based Richard C. Young & Co. Ltd. / COURTESY MALCOLM A. MAKIN

PROVIDENCE – Two Rhode Island independent financial advisers are among the top 100 in the nation, according to a yearly ranking put out by Barron’s.

The weekly newspaper, owned by Dow Jones & Co., named Malcolm A. Makin of Westerly-based Professional Planning Group and Matthew A. Young of Newport-based Richard C. Young & Co. Ltd. to its 2015 Top 100 Independent Financial Advisors list.

Makin, who ranked No. 84, is president of the 17-member independent registered investment adviser firm, which offers securities through Raymond James Financial Services Inc. The company has about $1.1 billion in assets under management. Makin works with high- and ultrahigh-net-worth clients with a typical account size of $1.5 million. The net worth of his individual clients is usually about $3 million, according to Barron’s.

Makin did not make Barron’s top list in 2014.

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Young, who ranked No. 85, is president and CEO of the Newport-based company with about $973 million in assets under management. He also provides services for high- and ultrahigh-net-worth clients with a typical account size of $1.8 million. His clients’ net worth is usually about $5 million, according to Barron’s.

Young last year ranked No. 72 on Barron’s top list.

The “Top 100” recognition is not the first time this year Makin has received an accolade from Barron’s. In March, the business newspaper named him No. 1 financial adviser in Rhode Island in its America’s Top 1,200 Advisors: 2015 state-by-state.

Makin and Young could not be immediately reached for comment.

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