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Whether it’s navigating a stock market downturn, hawkish Federal Reserve policy or banking instability, we’re dedicated to helping consumers make smart money decisions.
But CNBC’s personal finance team also recognizes the value of professional advice and a comprehensive financial plan, regardless of life stage or level of wealth.
Our mission is the primary driver behind the CNBC FA 100 list, now in its fifth year, which ranks the nation’s top financial advisor firms.
The FA 100 list uses proprietary methodology created by CNBC in partnership with data provider AccuPoint Solutions. CNBC’s FA 100 list is based on proprietary methodology created by CNBC in partnership with AccuPoint Solutions. The full methodology can be found here.
These advisors have an average of 30 years’ experience in the industry and manage more than 300 billion dollars collectively — but these aren’t primary criteria for the list.
The CNBC FA 100 highlights companies that help clients make decisions beyond their portfolio. We considered a number of factors when constructing the list. These included each firm’s specialties and services. We also considered the firms’ number of certified financial planners, which is widely recognized as one of the industry’s top professional designations.
The benefits of working with a financial advisor
The majority of Americans say their finances need improvement and many believe working with an advisor boosts their confidence for long-term financial stability, retirement and other priorities, according to Northwestern Mutual’s 2023 planning and progress study. The Certified Financial Planner Board’s latest consumer survey revealed that while there is a growing interest for financial advice provided by generative artificial intelligence (AI), most investors do not trust the advice without first verifying it. Kevin Keller, CEO at the CFP Board, believes that many investors believe they can handle the market on their own when it is constantly rising. However, “it’s that volatility where I think the value of a CFP professional or a professional advisor really makes a difference,” he added.
It’s that volatility where I think the value of a CFP professional or a professional advisor really makes a difference.
Kevin Keller
CEO of the Certified Financial Planner Board
After more than a year of bleak forecasts for the U.S. economy, some experts have backed off recession predictions and pointed to the soft landing targeted by the Federal Reserve. But there’s a risk of becoming complacent about future market volatility.
And uncertainty can trigger the desire for personal changes. A Goldman Sachs poll conducted in October of 2022 found that nearly 60% of consumers were planning to change their financial goals for 2023 due to the current economic climate. No matter if you are motivated by the economy or want guidance on major life decisions, a variety of financial advice is available regardless of your income and investable assets. The cost and scope vary by advisor or company, so it is important to be diligent during the selection process.
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