When I look at the bullcrap financial rankings in the Investopedia Top 100, I feel like I am back in 7th grade gym class where the cool kids got picked first for dodgeball. Investopedia states, “With more than 100,000 independent financial advisors in the U.S., the Investopedia 100 spotlights the country’s most engaged, influential, and educational advisors.” Really? So you checked out all 100,000 advisors? Or are you just mentioning this number to make it seem like you did, because otherwise what is the point of calling attention to this amount? Moreover, there’s zero explanation for the 2021 list as to how these advisors were selected. It is totally irresponsible and misleading to the consumer to put forth a list of people you are calling “top advisors” and then not even justify why these financial advisors were “ranked” this way. Where there is no explanation, no credibility is awarded. To finish reading about why I hate these deceptive and manipulative financial advisor lists, see blog in comments field.
Right from the Investopedia website… “With more than 100,000 independent financial advisors in the U.S., the Investopedia 100 spotlights the country’s most engaged, influential, and educational advisors.” So here’s the questions to Investopedia…did you review all 100,000 advisors? If not, why can you make this ridiculous claim? If you did, then what was the criteria applied to each advisor reviewed?
The top ranked anything these days is based on paying a fee to be ranked, it's a advertising revenue source for the the ranker-publishers and a marketing expense by the rank-ees. There is no way to rank investment advisors when they don't publish their returns for clients or how they got the returns. The best honest revues are on Google or Glassdoor, but even Google charges for a top position in a search. It's never random.
Herb Schechter
7mo
AUM can be quantified. Performance can be quantified,, but few qualify to have GIPS compliant numbers so you can't trust that number unless it is GIPS. Anything else is subjective. Most people will tell you they have the "best" dentist or lawyer. Therefore, a poll is not reliable.
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