CNBC FA 100 Disclosure Statement
The “CNBC FA 100“ is published by CNBC LLC, (“CNBC”). The ranking is based on a proprietary methodology developed by CNBC in partnership with “AccuPoint Solutions,” which is a data provider (“AccuPoint”). Summit Financial Strategies Inc. (“Summit Financial”) is not affiliated with CNBC or AccuPoint.
The ranking methodology consisted of first analyzing a variety of core data points from AccuPoint’s database of 37,369 registered investment advisory firms. Consideration for the ranking is therefore limited to advisers for which AccuPoint had access to relevant data. AccuPoint then applied weighted categories to further refine and rank the firms, ultimately creating the list of the top 100. The primary data points used in the analysis were reviewed, either as a minimum baseline or within a range, eliminating those firms that did not meet requirements. Once the initial list was compiled, weightings were also applied accordingly. These data points included: disclosures; number of years in the business; number of employees; number of investment advisors registered with the firm; the ratio of investment advisors to total number of employees; total assets under management; percentage of discretionary assets under management; total accounts under management; number of states where the firm is registered; and country of domicile.
Summit Financial was ranked 89th out of 100. By disclosing this ranking, Summit Financial is disclosing favorable ratings (to the extent that Summit Financial or its representatives are ranked above other advisers) and unfavorable ratings (to the extent that Summit Financial or its representatives is ranked below other advisers). By considering the “disclosures,” Summit Financial believes CNBC / AccuPoint seek to ensure that an identified nominee has an established and significant history and record free from regulatory sanctions. This ranking is not indicative of investment performance and should not be construed as a guarantee that client or prospective client will experience a certain level of investment performance or any other result if Summit Financial is engaged, or continues to be engaged to provide services. This ranking should not be construed as a current or past endorsement of Summit Financial or its representatives by any clients. This ranking was independently granted, and is not representative of any one client’s experience because of the way in which it is calculated. Summit Financial is unaware of any undisclosed facts that could potentially invalidate the appropriateness of this ranking. Based on the stated methodology for the ranking, Summit Financial does not believe advisers are ranked if their respective ratings are not statistically valid.
As of the date this disclosure was drafted, additional information about the “CNBC FA 100” ranking is available here: FA 100: CNBC ranks the top-rated financial advisory firms of 2022; and methodology is available here: https://www.cnbc.com/2022/10/04/heres-how-we-determine-the-fa-100-ranking-for-2022.html.