HOUSTON, Aug. 31 /PRNewswire-FirstCall/ -- Sanders Morris Harris Group Inc. (Nasdaq: SMHG) today announced that Barron's has ranked Ric Edelman, Chairman and CEO of Edelman Financial Services LLC, as the top advisor in the nation in its 2009 list of Top 100 Independent Financial Advisors.

"This highly prestigious recognition is a wonderful tribute to Ric, his team of financial planners, and the entire staff at Edelman Financial," commented George L. Ball, Chairman of Sanders Morris Harris Group. "Ric is the President of Sanders Morris Harris Group and Edelman Financial, of which we own 76%, is the largest single component of our company. Thus, the impact of the award should be significant," Mr. Ball added.

"We are thrilled, honored and humbled," said Ric Edelman, who noted that the announcement comes just as Edelman Financial is opening six new offices in the New York metro area. "This important recognition will increase the visibility of our new offices and accelerate their success. We're delighted."

The list of distinguished advisors, culled from more than 500 nominations, is based on assets under management, revenues the advisors generate for their firms and the quality of their practices, according to Barron's. The publication is one of Wall Street's most well-regarded and has been published since 1921.

About Edelman Financial Services

Edelman Financial Services is one of the largest independent financial planning firms in the nation, managing nearly $4 billion for individuals and families nationwide. Ric Edelman is a best-selling personal finance author, and host of the popular radio program The Ric Edelman Show, heard weekly in 25 markets nationwide.

About Sanders Morris Harris Group

Sanders Morris Harris Group is a wealth/asset management company that manages approximately $9.5 billion in client assets. Client assets include the gross value of assets under management directly or via outside managers and assets held in brokerage accounts for clients by outside clearing firms. Its corporate philosophy of investment in common aligns its interests with those of its clients. Sanders Morris Harris has more than 600 employees in 21 states. Additional information is available at www.smhgroup.com.

SOURCE Sanders Morris Harris Group Inc.