Violetastoimenova | E+ | Getty Images
Putting together CNBC’s Financial Advisor 100 — an annual ranking of the country’s best financial advisors and top financial advisory firms, now in its eighth year — is a significant undertaking.
Over the years, CNBC has received many questions from advisors and other interested parties about how the process works, how it compares with other industry rankings and why firms fared as they did in a particular year. While some details and data points are proprietary, we believe transparency about the work behind CNBC’s Financial Advisor 100 is important.
An important distinction up-front: Firms do not apply or pay to be considered, and inclusion and ranking are based solely on the list’s methodology.
More than two dozen CNBC staffers are involved at different points throughout the process, and we work with an outside data partner, AccuPoint Solutions. The list takes months to compile, with multiple steps and checks designed to ensure the ranking is rigorous and consistent.
Below, we answer some of the most common questions about eligibility, fees, the selection process and how the final rankings are determined.
Eligibility and the process
How can my firm apply for CNBC’s Financial Advisor 100?
There is no application process for CNBC’s Financial Advisor 100. Registered investment advisors with a Form ADV on file with the U.S. Securities and Exchange Commission are automatically under consideration, and all criteria will be applied to these firms to determine which make the final list.
The 2026 list process started with 41,578 registered investment advisor firms, or RIAs.
Can I nominate someone to the list?
There is no nomination process for CNBC’s Financial Advisor 100, and recommendations are not considered.
Do firms have to participate in CNBC’s Financial Advisor 100?
No. Firms may opt out of consideration during the list creation process. Opting out for a given year has no bearing on a firm’s eligibility for inclusion or ranking on future lists.
How can we improve our chances of making it on the list?
Firms should keep their Form ADV current, since CNBC’s process draws in part on publicly available data from the SEC. Outdated or incomplete information may affect a firm’s eligibility or placement.
Fees and licensing
What does it cost to apply?
CNBC does not charge an application fee or accept compensation from firms or any other parties for inclusion on the Financial Advisor 100 list. No payment is requested or exchanged at any point during the selection, evaluation or ranking process; inclusion is based solely on the methodology.
No money changes hands between CNBC and our data partner AccuPoint Solutions, or between CNBC and AccuPoint employees. AccuPoint does not charge an application fee or accept compensation from firms or any other parties for inclusion on the Financial Advisor 100 list.
Firms included on the list may choose to license a CNBC’s Financial Advisor 100 logo after publication. That optional decision has no bearing on a firm’s inclusion or ranking, either for that year’s list or future lists. For the 2025 list, 31 firms licensed logos.
I heard from someone claiming to be from CNBC with questions about my firm or saying I am on the list. Is it legit?
CNBC employees may contact firms at various stages of the CNBC Financial Advisor 100 list process to obtain information that helps confirm or refine rankings and finalize list entries. To verify that outreach is legitimate, look for email addresses ending in @cnbc.com or @versantmedia.com.
CNBC does not accept compensation for inclusion on the Financial Advisor 100. Any outreach requesting an application fee or payment to be considered for the list is a scam.
Process and key dates
Drs Producoes | E+ | Getty Images
When does the application window open?
There is no application window for CNBC’s Financial Advisor 100. CNBC and data partner AccuPoint Solutions typically begin the initial screening process for the list in the spring. Registered investment advisors with a Form ADV on file with the SEC at that time are automatically under consideration.
Firm inclusion and rankings are finalized in the fall, ahead of the list launch in early October.
What are the application deadlines?
There is no application deadline for CNBC’s Financial Advisor 100. As part of the process, CNBC sends an extensive email survey to all those firms that meet the initial criteria to gather more details about their practice. The survey may be sent to firms in waves, with each firm receiving a deadline to respond.
Why didn’t we receive a survey?
Firms that do not receive a survey are not among the finalists for that year’s list. If you believe your firm may qualify, check spam and email security filters for messages from CNBC, which have email addresses ending in @cnbc.com or @versantmedia.com.
We received a survey, but we’re not on the list. What happened?
Receiving a survey does not guarantee inclusion on the list: In a typical year, after applying all criteria and ranking and removing firms from the list, more than 1,000 firms are survey recipients. It is our policy not to provide individualized feedback about why a firm was not included on the list or why it received a particular ranking.
When will we hear from CNBC if we make the list?
Firm inclusion and rankings on CNBC’s Financial Advisor 100 are finalized in the fall, ahead of the list launch in early October. Firms that make the list will be notified by email from CNBC email addresses, which end in @cnbc.com or @versantmedia.com, a few weeks prior to the announcement date.
When will we find out where we rank on the list?
With the exception of the top-ranked firm, rankings are revealed when the list is published.
Methodology and rankings
What data goes into CNBC’s Financial Advisor 100 methodology?
AccuPoint Solutions uses a variety of primary data points as a minimum baseline, maximum ceiling or within a range, to eliminate those firms that do not meet CNBC’s requirements. Once the initial list is compiled, weightings are also applied accordingly.
Among others, data points include:
- Advisory firm’s regulatory/compliance record
- Number of years in the business
- Number of employees
- Number of investment advisors registered with the firm
- Ratio of investment advisors to the total number of employees
- Total assets under management
- Total accounts under management
- Number of states where the RIA is registered
- Country of domicile
How much weight does any one data point on your list have when determining a firm’s ranking?
In the initial screening, AccuPoint Solutions uses a variety of primary data points as a minimum baseline, maximum ceiling or within a range to eliminate those firms that do not meet CNBC’s requirements. For example, any firm that has a disclosure on record with the SEC, such as a regulatory violation, is automatically disqualified from the ranking.
Once the initial list is compiled, weightings are also applied accordingly. Small differences in a firm’s data can affect the outcome. In some cases, firms are separated by as little as a single basis point.
What factors might prevent a firm from making CNBC’s Financial Advisor 100 even if it appears comparable to peers who are included?
A firm may appear comparable to an included peer based on a publicly visible measure, such as assets under management, but CNBC’s Financial Advisor 100 considers a combination of data points. Some determine whether a firm meets baseline requirements; others are weighted to determine its place in the final ranking. Small differences across those factors can affect the outcome.
CNBC’s policy is not to provide individualized feedback about how a firm performed in the process relative to others.
We made the list in a prior year, but not this year. Why?
CNBC’s policy is not to provide individualized feedback regarding why a firm was not included.
Year-to-year changes in a firm’s data — or in the data of other firms under consideration — can affect whether it makes the final list. CNBC and AccuPoint Solutions also regularly review and refine the methodology to reflect changes in the RIA industry, evolving data availability and other relevant factors. Those updates may also affect a firm’s ranking or inclusion from one year to the next.
Why did our ranking improve? Why did our ranking decline?
CNBC’s policy is not to provide individualized feedback regarding a firm’s particular ranking.
A firm’s ranking reflects its relative position among the firms included that year, based on the weighted data points in CNBC’s methodology. Changes in a firm’s data, performance by other included firms and methodology refinements can all move a firm up or down in the ranking. In close cases, firms may be separated by as little as a single basis point.
More help
Who can I reach out to with additional questions?
Please review this FAQ before submitting additional questions. If your question is not addressed here, contact Riley de León, editorial manager for CNBC Events & Councils, at riley.deleon@cnbc.com, or Kelli Grant, CFP®, senior personal finance editor for CNBC, at kelli.grant@cnbc.com.
