Creating CNBC’s Financial Advisor 100 — an annual evaluation of the nation’s top financial advisors and advisory firms, now in its eighth edition — is a considerable undertaking.
Throughout the years, we have received countless inquiries from advisors and industry observers regarding the operational mechanics of the process, how it measures up against competing rankings, and the reasons behind specific annual outcomes. While certain data points and details remain proprietary, we maintain that transparency regarding the work behind CNBC’s Financial Advisor 100 is essential.
A crucial distinction to note at the outset: Firms do not apply for consideration, nor do they pay a fee. Inclusion and ranking are derived exclusively from the list’s established methodology.
Over two dozen CNBC staff members contribute at various stages of the workflow, collaborating with an external data partner, AccuPoint Solutions. The compilation spans several months, incorporating multiple verification steps designed to guarantee the ranking remains rigorous and consistent.
Below, we address the most frequent questions concerning eligibility, costs, the selection workflow, and the determination of final rankings.
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 placed under consideration, and all criteria are applied to these firms to determine final list inclusion.
The 2026 list process began 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 taken into account.
Do firms have to participate in CNBC’s Financial Advisor 100?
No. Firms may opt out of consideration during the list creation phase. Choosing to opt out for a specific year has no impact 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 ensure their Form ADV remains current, as CNBC’s process draws partially on publicly available SEC data. Outdated or incomplete information can influence eligibility or placement.
Fees and licensing
What does it cost to apply?
CNBC does not charge an application fee, nor does it accept compensation from firms or other parties for inclusion on the Financial Advisor 100 list. No payment is requested or exchanged at any stage of the selection, evaluation, or ranking process; inclusion is based solely on the methodology.
There is no financial transaction between CNBC and our data partner, AccuPoint Solutions, or between CNBC and AccuPoint employees. AccuPoint also does not charge an application fee or accept compensation from firms or other parties for inclusion on the Financial Advisor 100 list.
Firms featured on the list may elect to license a CNBC’s Financial Advisor 100 logo following publication. This optional choice does not influence a firm’s inclusion or ranking for that year 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 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
When does the application window open?
There is no application window for CNBC’s Financial Advisor 100. CNBC and data partner AccuPoint Solutions typically commence 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 firms meeting the initial criteria to gather further details about their practice. The survey may be dispatched in waves, with each firm receiving a specific 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 originate from 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, ranking, and removing firms, more than 1,000 firms remain survey recipients. It is our policy not to provide individualized feedback regarding why a firm was not included 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 utilizes a variety of primary data points as a minimum baseline, maximum ceiling, or within a range to eliminate firms that do not meet CNBC’s requirements. Once the initial list is compiled, weightings are 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 firms that do not meet CNBC’s requirements. For example, any firm with 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.
