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CNBC tapped data provider AccuPoint Solutions to help rank registered investment advisors for this year’s FA 100 list.
The methodology was to first analyze various core data points from AccuPoint Solutions’ proprietary database of registered investment advisors. This analysis began with an initial list of 40,646 RIA firms from the Securities and Exchange Commission’s regulatory database. Through a process, the list was ultimately reduced to 812 RIAs, with those firms meeting CNBC’s proprietary criteria.
CNBC staff sent an extensive email survey to all companies that met the initial criteria to gather more details. In return, these consulting firms filled out a comprehensive application for their work. The CNBC team verified this data with these firms and with the SEC regulatory database. AccuPoint again leveraged CNBC’s proprietary weighted categories to further refine and rank the companies, ultimately producing the Top 100 Companies list.
CNBC receives no compensation for including financial advisory firms on our list. Additionally, an advisor’s appearance in our rankings does not constitute an individual recommendation of a company by CNBC.
The primary data points used in the analysis were reviewed, either as a minimum baseline or within a range, excluding those companies that did not meet CNBC’s requirements. After the first list was created, appropriate weightings were also made. These data points included:
- The advisory firm’s regulatory/compliance record. (Editor’s Note: Each advisory firm’s CRD number was checked for validity. Any firm that had a disclosure in its SEC ADV was automatically excluded from the rankings.)
- Number of years in the company.
- Number of certified financial planners.
- Number of employees.
- Number of investment advisors registered with the firm.
- The ratio of investment advisors to the total number of employees.
- Total assets under management.
- Percentage of assets under discretionary management.
- Total number of accounts managed.
- Number of states in which the RIA is registered.
- Country of residence.
Turn on CNBC “The exchange“ Today at 1pm ET to watch Mason King of Luther King Capital Managementwhich earned the top spot in the category CNBC FA 100 list this year for the first time.
https://www.cnbc.com/2023/09/12/heres-how-we-determine-the-fa-100-ranking-for-2023.html This is how we determine the FA 100 ranking for 2023