Morsa Images | E+ | Getty Images
To prepare the 2026 list, CNBC worked with AccuPoint Solutions, a wealth management data and research firm specializing in advisor intelligence and industry analytics. The process started with 41,578 registered investment advisor firms, or RIAs, narrowed to 1,015 that met CNBC’s requirements. These firms also passed a due diligence check, including any regulatory disclosures.
To get more details, CNBC surveyed the finalists about their practices and fact-checked responses via publicly available resources. AccuPoint used CNBC’s weighted criteria to rank the firms. Read more about the methodology below.
For 2026, CNBC’s top advisors collectively manage $329.7 billion. The firms have an average of 35 years in business.
What is a fiduciary financial advisor?
Finding the right financial advisor isn’t easy, and there’s a key question you should ask each prospect: Are you a fiduciary?
A fiduciary financial advisor must act in the best interest of clients at all times, regardless of how it affects their compensation or profits.
Certain financial advisors, such as RIAs, are bound by the fiduciary standard. By comparison, investment brokers must follow a suitability standard, which means recommendations must be appropriate but not always the best option for the client.
What steps should you take when choosing a financial advisor?
One of the first steps to finding the right financial advisor could be referrals from your colleagues, friends or family.
You’ll want to consider those candidates’ credentials, including designations such as certified financial planner, or CFP; certified public accountant, or CPA; and chartered financial analyst, or CFA.
You should also check each prospect for regulatory violations and customer complaints, known as “disclosures,” via FINRA’s BrokerCheck and the SEC’s Investment Adviser Public Disclosure website. You can check state regulators for smaller firms.
It’s important to meet and interview prospective candidates before choosing a financial advisor. The CFP Board, which sets and enforces standards for CFP professionals, recommends 10 questions to narrow down your list:
1. What are your qualifications and credentials?
2. What services do you offer?
3. Will you have a fiduciary duty to me?
4. What is your approach to financial planning?
5. What types of clients do you typically work with?
6. Will you be the only advisor working with me?
7. How will I pay for your services?
8. How much do you typically charge?
9. Do others stand to gain from the financial advice you give me?
10. Have you ever been publicly disciplined for unethical or unlawful actions in your career?
What’s the difference between a fee-only financial advisor and a commission-based advisor?
It’s important to understand your financial advisor’s pay structure before starting your planning engagement.
Generally, financial advisors are fee-only, commission-based or fee-based, the latter of which is mostly fees with commissions for certain products.
Fee-only means the advisor won’t receive a commission from products. This category can include assets under management, or AUM, which is typically a set percentage each year and varies by the size of your portfolio. Fee-only may also include one-time projects, hourly fees or advice-only advisors, who don’t charge AUM or receive commissions.
Commission-based advice generally includes commissions for certain products, such as mutual funds or life insurance. It can be the lowest-cost option for advice about a specific financial product, but the guidance can present a conflict of interest in some cases.
What are the pros and cons of using a robo-advisor vs. a human financial advisor?
Technology continues to shape the landscape of financial advice, including robo-advisors and digital advice via artificial intelligence platforms.
Robo-advisors use algorithms to automatically invest your money based on your risk tolerance and timeline. Typically, the cost is based on a percentage of your portfolio, or you pay a flat monthly fee.
Some robo-advisors offer more customization and features, such as tax-loss harvesting, which uses losses to offset other portfolio gains, or automatic rebalancing.
By comparison, human advisors can build a comprehensive financial plan — including investing, taxes, insurance, retirement planning, estate planning and more — based on your specific goals.
In 2024, the median robo-advisor fee was about 0.25% of assets per year, according to Morningstar’s latest robo-advisor report from 2025, which analyzed 16 U.S.-based platforms. To compare, it’s common to pay around 1% of assets under management, or 100 basis points, for a human advisor, depending on the size of your portfolio.
Meanwhile, do-it-yourself investors may turn to AI platforms for quick answers to their money questions. Our next section covers some of the key things to know about AI financial advice.
What to know about AI financial advice
As consumers embrace generative AI platforms such as ChatGPT, Claude, Copilot or Gemini, it may be tempting to tap the software for financial advice.
Roughly 1 in 5 Americans looking for financial advice in the prior year have used AI, according to a Gallup survey conducted with financial services firm Edward Jones.
But fewer than 30% of U.S. adults overall say they have “a great deal” or “some” confidence in AI expertise when it comes to managing money, according to the survey, which polled more than 5,000 U.S. adults in March and April.
Before turning to AI platforms for money advice, here are some of the key things to know.
Can AI replace a human financial advisor?
In short, no.
Experts say that AI is generally good at providing high-level overviews of financial topics: For example, why it’s important to diversify investments, why exchange-traded funds may be better than mutual funds in some cases but not others, or the ages at which people can claim Social Security.
However, it would be unwise to take AI’s advice blindly. The technology may sound authoritative, but it can make mistakes — especially when it comes to making very specific financial calculations for one’s personal situation, experts say.
Is AI financial advice safe and accurate?
Experts say AI can be a good starting point when learning about a particular financial topic, such as the ins and outs of Medicare. But AI can “hallucinate” — essentially, it can make up information that’s inaccurate but sounds true to users.
Surprisingly, AI isn’t — yet — strong at doing financial calculations, so any numbers-based financial planning questions, such as those involving your taxes, are generally best avoided, experts said. Small differences in prompts can also lead to variation in its recommendations, research has shown.
It’s important to double- and triple-check AI’s output or, for complex questions, consult with a financial advisor.
Is an AI financial advisor a fiduciary?
Fiduciary duty is a legal term that means an advisor must put their client’s best interests ahead of their own. It’s a concept that applies in other fields, too, such as medicine and law.
Many human financial advisors — but not all of them — have a fiduciary duty. Advisors who do have a fiduciary duty and who violate that responsibility can be subject to fairly serious consequences, including regulatory penalties, civil liabilities and criminal charges.
Generative AI platforms, such as ChatGPT and Claude, don’t have a fiduciary duty, according to experts. In other words, they don’t bear responsibility for output that leads to bad outcomes for users, experts said.
Is it safe to share personal financial information with AI?
It would be unwise to input sensitive financial information or sensitive personally identifiable information into generative AI platforms, such as ChatGPT and Claude, experts said.
For example, it’s likely not a good idea to feed your entire tax return into the algorithms, experts said. AI companies currently have no restrictions on how they can use such personal data, they said. Perhaps the biggest risk is that the companies could get hacked, potentially exposing your personal data, they said.
Who is responsible if AI-generated financial advice is wrong?
Legal experts say this is an unresolved issue.
Currently, AI companies aren’t responsible for giving financial advice that’s in users’ best interests — and therefore aren’t on the hook if a user implements the advice and something goes wrong, experts said. They said it’s important not to accept AI output without researching and vetting it further.
Financial advisor FAQs
Nitat Termmee | Moment | Getty Images
Is hiring a financial advisor worth it?
- Many investors have competing financial goals, such as saving for retirement, funding a child’s college education, paying off student loans or buying a new home.
- A financial advisor can help clients prioritize and fund goals while answering key questions about taxes, investing, insurance, estate planning and more.
- Paid financial advice comes in many forms, but it’s not right for everyone. While some investors want hands-on guidance, others prefer to handle money decisions on their own.
How often should I meet with my financial advisor to review progress?
- Clients meet with their advisor periodically to discuss priorities and review progress on financial goals.
- Generally, meetings happen at least once per year, but the cadence may vary based on complexity and the scope of the engagement.
- Regardless of your meeting schedule, your advisor should have an open line of communication to review questions and concerns as they arise.
When should I switch financial advisors?
- Switching financial advisors is a personal decision that could hinge on a range of factors, including your goals and expectations.
- You may seek a new planner if your current advisor doesn’t offer the expertise you need, such as complex tax or small business planning.
- Other reasons to switch could be poor communication, missed meetings or failing to execute key elements of your financial plan.
Should I choose a local, national or online financial advisor?
- Your choice between local, national or online firms may depend on your service and meeting preferences.
- Some boutique firms refer clients to local experts, such as certified public accountants or estate planning attorneys, while national firms may have these experts on staff.
- Ultimately, you can find personalized care from a range of firms, depending on how many households your advisor serves.
Will I work with one dedicated advisor or a team?
- You could work with a single advisor or a team, depending on your planning needs and the firm’s structure.
- If you have a preference, it’s a good idea to address this question while interviewing prospective advisors.
What’s the difference between an RIA, broker, financial planner and wealth manager?
- A registered investment advisor, or RIA, is an individual or company that provides financial advice for compensation. They are also known as financial planners or wealth managers.
- An investment advisor representative, or IAR, is an individual who works at an RIA, managing portfolios and offering investment advice.
- A broker buys and sells investments for an investor’s account.
- An RIA is bound by the fiduciary standard and must act in the client’s best interest, while a broker must follow a suitability standard, which allows more flexibility for recommendations.
Fg Trade Latin | E+ | Getty Images
What are the requirements for a certified financial planner?
- There are four requirements a person must meet to become a certified financial planner, or CFP: education, exam, experience and ethics.
- These professionals must complete a CFP Board-registered program and hold a bachelor’s degree before passing an exam.
- CFP candidates also must complete 4,000 or 6,000 experience hours, depending on their pathway, and meet ongoing ethics and continuing education guidelines.
What are the red flags or warning signs of a bad financial advisor?
What are common financial strategies recommended by financial advisors?
- The right investing strategy will depend on your goals, risk tolerance and timeline. Common long-term goals may include saving for retirement or funding college education.
- Many advisors also aim to reduce your lifetime tax bill with such strategies as selling profitable assets during your lower income years.
- At retirement, advisors can help optimize streams of income, including Social Security, pensions, retirement account drawdowns and more.
- Estate planning, which covers your wishes at death or incapacitation, is also important for investors at all income levels.
How do you choose a financial advisor for retirement planning?
- Typically, financial advisors who specialize in working with retirees can help with investing, portfolio distribution, Social Security, tax planning, Medicare, long-term care and estate planning, among other issues.
- You should look for credentials such as CFP or retirement income certified professional, or RICP.
- However, many years of experience working with retirees could outweigh credentials.
- The right financial advisor will act as a fiduciary and consider your goals, timeline and risk tolerance before making recommendations.
How do I find the best financial advisor for young professionals?
- Young professionals often have multiple financial priorities, such as beginning to invest, paying off student loans, employee benefits, buying a first home, and saving for a wedding or starting a family.
- While some financial advisors have asset minimums, others may charge one-time, hourly or monthly fees rather than a percentage for assets under management.
- Advisors have different compensation models, including commission-based, fee-only, fee-based or advice-only, which doesn’t include managed assets.
- You can find a fiduciary financial advisor via directories such as the CFP Board, XY Planning Network or the National Association of Personal Financial Advisors.
Does a higher ranking on CNBC’s Financial Advisor 100 mean a firm is better for me?
- No. The right advisory firm, if any, depends on your family’s unique financial needs. You can use this list as a starting point — along with referrals — to find an expert who is well-suited for your family’s needs.
- A firm’s or advisor’s placement in our yearly ranking is not an endorsement from CNBC.
Methodology: How we picked the best financial advisors for 2026
CNBC used data analysis and editorial review to compile its eighth annual Financial Advisor 100 list.
For 2026, CNBC and data partner AccuPoint Solutions started with 41,578 RIAs from the SEC’s regulatory database. That list was culled to 1,015 firms, and finalists completed surveys to confirm key details. CNBC made an editorial review of entries, and AccuPoint used our proprietary weighted criteria to narrow down the list and rank the firms.
Among other criteria, we weighed:
- 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
You can learn more by reading our FAQ.
CNBC personal finance reporter Greg Iacurci contributed to this story.
CNBC receives no compensation from placing financial advisory firms on our Financial Advisor 100 list. Additionally, a firm’s or advisor’s appearance in our ranking does not constitute an individual endorsement by CNBC of any firm or advisor.
