Advisory firms that assist clients in managing competing financial objectives are recognized in the CNBC FA 100 ranking.

• The CNBC FA 100 list, now in its sixth year, highlights advisory firms that assist clients in making informed choices.
• The CNBC FA 100 takes into account more than just years of experience and assets under management when evaluating advisors.

We are committed to providing investors with clear and concise information about stock market fluctuations, Federal Reserve interest rate adjustments, and proposed tax legislation, so they can make informed financial decisions.

Regardless of your life stage, income level, or wealth, CNBC's personal finance team acknowledges the importance of financial planning.

The CNBC FA 100 list, in its sixth year, ranks the top financial advisor firms in the country, and education is the driving force behind it.

AccuPoint Solutions collaborated with CNBC's FA 100 to develop a unique methodology.

The process began with SEC filings from 40,896 registered investment advisory firms before the list was narrowed down. For more information, please refer to the full methodology.

While these top-ranked advisors have an average of 35 years in the business and manage over $375 billion, the ranking takes into account factors beyond experience and assets under management.

The FA 100 list includes firms that go beyond investment portfolios to consider service offerings, specialties, and other factors. Additionally, we observed the number of certified financial planners among these firms, which is highly respected as the industry's top professional certification.

The benefits of financial planning

According to Northwestern Mutual's Planning & Progress Study 2024, which surveyed nearly 4,600 U.S. adults in January, working with a financial planner can help investors feel "significantly more confident" about their finances, despite economic uncertainty.

Despite declining inflation and a significant interest rate reduction from the Federal Reserve, some experts predict that the economy will experience a "soft landing," meaning that the Fed will successfully control inflation without causing a recession. However, market fluctuations and impulsive emotional investing decisions could still negatively affect portfolios.

The upcoming 2024 election results will have a significant impact on trillions of dollars in expiring tax cuts after 2025, as well as other economic policies.

According to T. Rowe Price's 2023 Retirement Savings and Spending Study, investors typically look for an advisor during the five years leading up to retirement and the five years following it.

Financial planning can have a significant impact on life as clients balance competing objectives, according to Paul Brahim, managing director of Wealth Enhancement in Pittsburgh, Pennsylvania.

Brahim, who is also president-elect of the Financial Planning Association, stated that you have a partner in decision-making.

10 questions to ask your next financial planner

Financial advice is accessible regardless of income or assets, with varying costs and services offered by advisors and firms.

Before selecting a financial planner for your family, it is recommended to ask prospective advisors these 10 questions, as suggested by the CFP Board.

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 reprimanded for any illegal or unethical conduct in your professional life?

Verify CFP certification with the CFB Board and check an advisor's record by searching for their name on BrokerCheck and the SEC.