Forbes, Shook Suspend 2026 Rankings and Events Over $6 Million Payment Probe
Updated
Updated · The New York Times · Aug 25
Forbes, Shook Suspend 2026 Rankings and Events Over $6 Million Payment Probe
3 articles · Updated · The New York Times · Aug 25
Summary
Through year-end, Forbes and Shook Research will halt the wealth-adviser rankings and joint events they produce, including an annual Las Vegas summit previously set for mid-October.
The suspension follows widening fallout from a $6 million payment from Shook founder RJ Shook to former Forbes top editor Randall Lane, who was fired after the payment came to light.
Shook said the money paid for services including help selling a controlling stake in Shook Research to PPC Enterprises last August; Lane called it a “gift” and said nondisclosure was a serious error.
Forbes CEO Sherry Phillips said the company still stood by the rankings' integrity but paused the program to rebuild trust with advisers, partners and audiences, with a relaunch planned in 2027 under a new brand.