Sheaff Brock Lands A Top Ten Spot In CNBC’s FA 100 Ranking


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In tumultuous times, having a trusted financial advisor can help investors weather the economic storm. But finding the right advisor can be difficult, especially with so many choices. The CNBC FA 100 list may be helpful for individuals who are looking for a financial advisor by having already evaluated a multitude of registered investment advisory (RIA) firms in the U.S., zeroing in on ones that might help clients navigate more than their investment portfolio. In today’s environment, investors need a financial advisor who provides a holistic approach, helping clients meet different goals, whether it’s saving for college, buying a dream home or amassing money for retirement.

When coming up with the CNBC FA 100 ranking* in partnership with data provider AccuPoint Solutions, CNBC looked at multiple factors, including the size of the firm, assets under management, the number of certified financial planners on staff, and services and specialties offered. The final list of what CNBC considers the top 100 financial advisors in the country is composed of new firms and repeat winners. Sheaff Brock, an Indianapolis, Indiana investment advisory firm, is among the latter, ranking 10th in 2023, the fourth year in a row it’s made this esteemed list. 


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Sheaff Brock Climbs To The Top Ten 

“We’re incredibly honored. To make the list once felt like a great achievement, and to make it for our fourth consecutive year—also selected as #10 in the U.S.—is very motivating,” said Ron Brock, co-founder and managing director. “It is certainly a testament to our team for the outstanding commitment they have to supporting our clients.” 

The fee-only independent investment firm, with $ 1.2 billion in assets under management as of September 30, 2023, has come a long way since first making it on CNBC’s FA 100 list in 2020 when it debuted at 95th. It has moved up the list, landing in 82nd place in 2021 and 68th in 2022. This year is a break-out one for Sheaff Brock on the list amid a year of rising interest rates, stubbornly high inflation and stock market volatility. The company’s approach includes a willingness to take on calculated risk. 

“We are value-oriented and we attempt to avoid undue risk. But what makes us different is that we aren′t scared of volatility as an approach to get you returns,” says Sheaff Brock on its website. The company uses “sophisticated research, technology, and data” to quantify its decision-making and equity selection, and also screens “for downside risk to  help avoid stocks that may be likely to underperform.″

More Than Just Assets Under Management

Noting the major role that financial advisors can play in helping investors grow and protect their wealth, CNBC states that a good advisory firm will focus on assessing their current financial situation and life goals and developing a plan to help achieve them. The CNBC ranking takes into consideration a number of other factors beyond AUM in how these firms help clients best navigate their financial lives.

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CNBC weighed each firm’s services and specialties in determining the FA 100, including the number of certified financial planners on staff – which is recognized as one of the industry’s top professional designations. Other data points in CNBC’s proprietary selection methodology included the firm’s longevity, the number of registered investment advisors, the number of employees, and both total assets and total accounts under management. 

In the current environment, many Americans believe their finances need help and feel working with an advisor can provide them the support for longer-term financial stability. The CNBC FA 100 list is compiled every year to give individual investors a starting point in their search for a financial advisor.    


Benzinga has received cash compensation from Sheaff Brock Investment Advisors, LLC (Sheaff Brock) or Innovative Portfolios for the above endorsement. The compensation received by Benzinga is to author an article to endorse Sheaff Brock or Innovative Portfolios, its affiliate. Benzinga is not a current client of Sheaff Brock or Innovative Portfolios. There is a conflict of interest since Benzinga is receiving compensation to recommend either Sheaff Brock or Innovative Portfolios for investment advisory services. The material terms of this compensation are as follows: sponsored articles, videos, webinar, and metrics dashboard for $25,500. There is a conflict of interest in that Benzinga is being paid to endorse either Sheaff Brock or Innovative Portfolios, which would incentivize them to endorse Sheaff Brock or Innovative Portfolios over other advisers.

*About CNBC Financial Advisor 100

The 2023 CNBC Financial Advisor 100 (ranked 10th, 9/12/23), 2022 CNBC Financial Advisor 100 (ranked 68th, 10/4/22), 2021 CNBC Financial Advisor 100 (ranked 82nd, 10/6/21) & the 2020 CNBC Financial Advisor 100 (ranked 95th, 10/6/20) list is an independent ranking. CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for the CNBC FA 100 list. The analysis started with 40,646 RIA firms for 2023, 39,818 RIA firms for 2022, 38,302 for 2021 and 37,369 for 2020 from the Securities and Exchange Commission regulatory database. AccuPoint screened the list down to 812 RIAs for 2023, 904 RIAs for 2022, 749 for 2021 and 750 for 2020 who were required to complete a survey to be in consideration for the CNBC FA 100 list. Neither the registered investment advisor nor their employees pay a fee for the listing.

Data points used by AccuPoint for the ranking included regulatory/compliance record, number of years in the business, number of certified financial planners, number of employees, number of investment advisors registered with the firm, 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 RIA is registered, and country of domicile.

Third-party rankings and recognition from rating services or publications, such as the CNBC FA 100, are no guarantee of future investment success and working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. The ranking may not reflect a client or prospective client’s experience with the registered investment advisor. Past performance does not guarantee or indicate future results.

Featured photo by Scott Graham on Unsplash.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.

Options 101: The Beginner’s Guide

Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to scoring 411% gains with options, and his time-tested “plan” for success. Grab your free copy of Options 101: The Beginner’s Guide ASAP.

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