Forbes Has $6M Egg on Its Face

Live updates

1. 19d ago

   Forbes and Shook Research Freeze 2026 Advisor Rankings

   Forbes and Shook Research have suspended all 2026 advisor rankings following the discovery of a $6 million payment to a former Forbes editor. The payout was reportedly for assisting a partner of the magazine with a sale. The freeze comes as major firms distance themselves from the lists, with Wells Fargo and Morgan Stanley removing their presence from the rankings amid the ongoing investigation into the payment.

   Why it matters

   Forbes relies on Shook Research to produce its influential financial advisor lists. The discovery of a multi-million dollar payment to a former editor raises questions about the integrity and impartiality of these rankings.

   What is confirmed

   • Forbes and Shook Research suspended all 2026 advisor rankings.
   • A former Forbes editor received a $6 million payment for helping a partner of the magazine with a sale.
   • Wells Fargo and Morgan Stanley have exited the Forbes advisor lists.
   • Forbes is investigating the $6 million payment.

   What to watch next

   • Results of the internal investigation into the $6 million payment
   • Announcement of a date to resume advisor rankings
   • Statements from the former editor regarding the nature of the sale assistance
   Sources used for this update (5)

   1. WSJ — Former Forbes Editor Got $6 Million for Helping Magazine’s Partner With Sale
   2. The New York Times — Forbes and Shook Research Suspend Rankings Amid Investigation of $6 Million Payment
   3. Newser — Forbes Has $6M Egg on Its Face
   4. Wealth Management — Wells Fargo Drops from Forbes Best-Advisor Lists
   5. RIABiz — Wells Fargo follows Morgan Stanley out the door, prompting Forbes and Shook to freeze all 2026 advisor rankings amid fallout from $6-million editor payout
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