Lamont Financial Service Corp took fourth place with $14.9 billion.
Acacia Financial Group joined the top five financial advisors in 2012, jumping to fifth place from 13th place the year before.
Kim Whelan, co-president of Acacia, said the large climb in rankings isn’t the result of just one year, but of a strategy the firm has been employing since 2006, which is to develop a presence with major issuers in a state and expand from there.
“It’s all catching up,” Whelan said. “Last year the market was pretty down on municipals and I think we picked up several clients along the way, big issuers that weren’t doing anything, and then all of our clients sort of hit at one time.”