Shook Research has rebranded as Veritant and plans to resume its advisor rankings with Forbes later this year.
As reported by AdvisorHub, the company will publish a top RIA firm ranking under the Veritant name in December and plans to resume its full schedule of advisor rankings and events in 2027. A spokesperson said the new name draws from veritas, the Latin word for truth.
The return comes less than two months after Shook suspended its rankings and canceled upcoming advisor conferences following disclosure of an undisclosed $6 million payment from founder RJ Shook to former Forbes chief content officer Randall Lane. The December ranking moves the company's return ahead of its earlier plan to suspend rankings and events until next year.
Morgan Stanley Wealth Management and Wells Fargo Advisors, two of the largest brokerage firms, suspended their participation in the Forbes rankings and conferences after the payment became public, AdvisorHub reports. The Veritant spokesperson did not say whether either firm had agreed to return but said the company remains in "active dialogue with them regarding the details and timing of our relaunch."
The controversy involved a payment Shook made to Lane after Shook sold the rankings business to private equity firm PPC Enterprises last year. Shook said the payment compensated Lane for services and guidance, including assistance with the sale.
Shook and his wife, Liz, later relinquished their remaining ownership interests and roles in the business as part of a settlement with PPC, according to AdvisorHub.
A Veritant spokesperson said company leadership conducted "extensive investigations" and found no evidence that the payment compromised the integrity of its research.
Veritant has also adopted a charter requiring separation between its research and commercial operations and a third-party audit of its governance and methodology. The company's website does not identify the third party.
Financial Advisor Transitions consults with advisors nationwide regarding employment transition options and strategies to preserve and protect their practices during any transition.
