Selection Methodology for Forbes Best in State Wealth Advisors

A financial professional with Merrill Lynch for more than 30 years, Keefe Gorman has been included in the Registered Representative Magazine Top 50 Brokers in the USA. In 2019 and 2020, Merrill Lynch wealth manager Keefe Gorman was included in Forbes list of Best in State Wealth Advisors.

The 2020 Forbes Best in State Wealth Advisors list comprises more than 4000 financial advisors who were first nominated by their firm, then researched and interviewed by SHOOK Research to determine their national ranking. The process utilizes a unique algorithm that considers quantitative criteria such as assets under management, revenue produced, and compliance records, as well as qualitative data that touches on topics such as community involvement, investing processes, and breadth of services.

By including wealth advisors all over the country, instead of just in larger markets such as San Francisco and New York, Forbes aims to highlight local representation in smaller markets. Nominated wealth advisors must have at least seven years of experience as an advisor and have been employed for at least a year with their current firm.

Speakers at the Second Annual Forbes-SHOOK Top Advisors Summit

 

Forbes-SHOOK Top Advisors Summit
Image: forbes.com

A New York-based financial advisor with Merrill Lynch, Keefe Gorman manages financial assets for institutional clients and high-net-worth individuals. Recently, Keefe Gorman was named a Best-In-State Wealth Advisor by Forbes following an extensive selection process conducted by SHOOK Research.

Forbes and SHOOK together hosted the second annual Top Advisors Summit in Las Vegas, Nevada, from February 27 to March 1, 2018. The exclusive forum was attended by advisors with a combined $1 trillion in assets under management and included the following three speakers.

1. Bill Miller – Before serving as chairman and chief investment officer of Miller Value Partners, this Washington and Lee University alumnus held executive positions with Legg Mason and JE Baker Company. He was named Morningstar.com’s Fund Manager of the Decade and Greatest Money Manager of the 1990s by Money Magazine.

2. Mike Novogratz – Formerly a principal with Fortress Investment Group, Mr. Novogratz serves as CEO of Galaxy Investment Partners. In addition to his financial success, he’s the founder of Beat the Streets, a New York-based nonprofit that builds wrestling programs in NYC public schools. He also serves on the board of the Jazz Foundation of America and NYU Langone Medical Center.

3. Kayvon Pirestani – As director of institutional sales for Coinbase’s institutional brokerage and exchange offering, Mr. Pirestani is tasked with marketing functions to grow the number of institutional investors in cryptocurrencies.

Forbes Top Advisor Selection Process

 

Forbes
Image: Forbes.com

An experienced Certified Financial Planner professional, Keefe Gorman is managing director of investments at a Merrill Lynch-affiliated firm based in New York. In 2018, Keefe Gorman of Merrill Lynch was recognized by Forbes as one of the best wealth advisors in New York State.

A total of 50 financial advisors were listed as best in-state advisors outside of New York City and Mr. Gorman, who operates out of Ithaca, ranked 14th. The Forbes Best-In State Wealth Advisors list highlights financial advisors with strong reputations in all 50 states and is curated through extensive research conducted by SHOOK Research. In creating the list, the firm looks for advisors whom they would recommend to a family member or friend, and that determination is made through face-to-face or telephone interviews as well as quantitative data such as assets under management, industry experience, and revenue trends. To qualify, wealth advisors must have a minimum of seven years experience.

SHOOK only considers advisors with acceptable compliance records who meet predetermined minimum thresholds and were nominated by their respective firms. It received 21,138 nominations for the 2018 list and conducted 5,264 telephone interviews and 1,157 face-to-face interviews at advisors’ places of business.

Inside Barron’s America’s Top Advisor Rankings

Barron’s
Image: barrons.com

A managing director and advisor for Merrill Lynch, Keefe Gorman possesses over 29 years of experience and is a certified financial planner with the Certified Financial Planner Board of Standards. Keefe Gorman’s work with Merrill Lynch and in the financial industry led him to receive a ranking among Barron’s 2013 and 2014 Top Advisors in New York.

Every year, Barron’s releases a revised listing of its America’s Top Advisor Rankings based on data provided by more than 4,000 top productive advisors around the world. It incorporates a number of factors into its rankings, including revenue produced for the firm, assets under management, and regulatory record. Additionally, the ranking examines the individual’s quality of work and philanthropic activities. Due to the unpredictable variables affecting investment success, Barron’s does not incorporate investment results as an explicit component in its rankings.

Barron’s lists individuals according to state and each list consists of exactly 100 advisors. In addition to providing each advisor’s rank for the current year, the list also displays his or her ranking during the previous year for comparison. Those marked with an N instead of a ranking did not make the previous year’s ranking.