Press Releases
Special Statement from SHOOK Research
August 24, 2026
For more than a decade, the Forbes | SHOOK rankings have served as a trusted resource for investors and a benchmark for excellence across the wealth management industry. SHOOK Research has built its reputation on a commitment to rigorous research, integrity, transparency, and helping advisors and their clients make more informed decisions.
Soon after R.J. and Elisabeth Shook’s departure from SHOOK Research in June of this year, SHOOK Research discovered an undisclosed payment made by R.J. Shook to Randall Lane immediately following the completion of Mr. Shook’s sale of a majority of the company to PPC Enterprises LLC in 2025. Consistent with its commitment to integrity and fair dealing, SHOOK Research brought the matter to the attention of Forbes through appropriate channels.
In a public statement on August 24, 2026, Mr. Shook acknowledged that the payment had not been disclosed to PPC and expressed deep regret that the payment had raised questions concerning the integrity and independence of SHOOK’s rankings. Mr. Shook explained that Mr. Lane had provided assistance in connection with his efforts to sell the company, culminating in the sale to PPC, and that the payment had been made in recognition of the services and guidance provided to him by Mr. Lane and the success Mr. Shook achieved as a result; it had no connection to the research or rankings process. Neither Mr. Lane nor anyone at Forbes has ever been involved in SHOOK’s research process or the creation of its rankings. As Mr. Shook confirmed in his statement, he and his wife no longer have any role or ownership in the company.
The Forbes | SHOOK rankings have earned the confidence of advisors, firms, institutions, and consumers because they have been built from the very beginning on a research-intensive process that evaluates advisors across a broad range of qualitative and quantitative factors. That process has helped establish the rankings as among the most widely recognized and respected benchmarks in wealth management. SHOOK designs the survey and research methodology, collects and evaluates advisor data, and performs the rankings. Commercial relationships, sponsorships, and marketing activities do not influence who is ranked, ranking order, methodology, or research conclusions. That principle remains central to SHOOK’s work today.
Since the leadership transition at SHOOK Research earlier this year, PPC, the company’s new owner, has increased investment in its people, technology, operational processes, and advisor research capabilities. They have dedicated additional resources to advisor and firm engagement, enhanced industrywide collaboration, and the delivery of value-added insights that support advisors and their businesses.
As it looks ahead, SHOOK Research is taking additional steps to further strengthen and demonstrate the independence of its rankings. Several of these initiatives have been under development since the beginning of 2026 and include:
- Commissioning an independent third-party review of SHOOK’s governance, methodology, research inputs, and conflict controls, to be conducted on an annual basis.
- Creating and maintaining a formal SHOOK Independence Charter that codifies SHOOK’s continued commitment to independence, conflict management, and governance, confirming that rankings cannot be purchased and that no outside relationship may influence SHOOK’s research process.
- Formalizing governance procedures that reinforce the separation between SHOOK’s research activities and any commercial relationships.
- Enhancing survey design and increasing the data captured from and about each advisor, while refining how that data, both quantitative and qualitative, informs rankings.
- Providing ongoing transparency into SHOOK’s data collection process along with the quantitative and qualitative factors considered in compiling the rankings.
- Increasing direct engagement with ranked advisors, firms, compliance teams, sponsors, and industry stakeholders to hear their concerns and use that feedback to strengthen the model.
- Making changes to SHOOK Research’s philanthropy program to highlight the charitable works of advisors, rather than those of SHOOK Research. SHOOK Research plans to introduce a new brand identity in the coming weeks, completing a process that began in February.
Going forward, SHOOK Research remains focused on providing advisors, their clients, and the wealth management profession with a trusted measure of excellence. As the company continues to enhance its research capabilities, strengthen its governance framework, and increase transparency around its processes, it remains committed to the principles that have guided its work from the beginning: independence, integrity, and rigorous research. SHOOK Research intends to continue demonstrating that commitment through its actions.
About SHOOK® Research
SHOOK Research represents the industry standard for advisor quality and integrity and is the independent research organization responsible for conducting the annual rankings of the Top Wealth Advisors, Teams, Women, Next Gen, RIAs and Financial Services Professionals, published in partnership with Forbes.
The Forbes | SHOOK rankings are the only ones rooted in rigorous, in-person and telephone due diligence. SHOOK meets every eligible advisor face-to-face, assessing them on both quantitative performance and the qualitative integrity that numbers alone can't capture.
SHOOK's mission is to promote the value of financial advice by raising professional standards and facilitating the exchange of best practices within the wealth management industry. Through its rankings, research, and industry events, SHOOK brings together leading financial advisors nationwide to share insights and elevate standards.
