Jim Dew on What an Advisor Ranking Is Worth, in RIABiz

On November 4, 2026, RIABiz published an investigation by Oisín Breen into the "Top Advisor" ranking business, months after Forbes suspended its advisor rankings over an ethics controversy and then relaunched them with new safeguards. Jim Dew, Founder and CEO of Dew Wealth Management, LLC and author of Beyond a Million, was among the industry voices RIABiz asked whether those safeguards go far enough.

What Jim told RIABiz

The research firm behind the Forbes rankings, renamed Veritant in October, has adopted an independence charter and committed to an annual external audit of its governance and methodology. Jim's view of those steps: "Publishing an independence charter and committing to independent review are constructive steps. What would give me more confidence is understanding what the review covers, what it finds, and how any shortcomings are addressed." He added: "A new name alone doesn't answer those questions."

He also cautioned against treating the issue as one publication's problem: "Any ranking that is also a licensing business carries the same tension … a line of fine print next to a big logo doesn't carry the same weight as the logo."

What an advisor ranking does and does not measure

As RIABiz reports, the best-known advisor rankings are compiled by research teams separated from the publication's newsroom, and both Forbes and Barron's say no one can buy a place on their lists. Ranked advisors can, however, pay licensing fees to use the publication's logo in their own marketing. The weighting behind the rankings is largely undisclosed, and Barron's says its lists focus on measures such as scale and growth rather than investment results or the quality of a client's plan.

The SEC's Marketing Rule (Rule 206(4)-1) already sets conditions for an investment adviser that advertises a third-party rating. Among them, the adviser must clearly and prominently disclose the date the rating was given and the period of time it was based on, who created and tabulated it, and whether the adviser paid, directly or indirectly, to obtain or use it. Jim's point is about weight: a disclosure in small type beside a large logo is technically present but easy to miss.

Questions worth asking about any advisor ranking

• Who compiled the ranking, and what does it measure: assets and growth, or planning quality, client outcomes, fees and conflicts of interest?
• When was it given, and what period of data does it cover?
• Did the advisor pay anything, to be considered or to use the logo afterward?
• Is the advisor a fiduciary for every part of the relationship? Our wiki entry on the fiduciary standard explains what that obligation covers.

For business owners deciding what kind of advisor they need in the first place, we cover that question in Should Entrepreneurs Use a Regular Financial Advisor?

Read the full article on RIABiz: Crisis of confidence still dogs 'Top Advisor' rankings, by Oisín Breen. More of Jim's interviews and appearances are collected on his speaking and media page.