Assessment Exams for Registration and Licensing for Trading Securities

Regulators in the finance industry administer several assessment exams to test competency and ensure adherence to ethics and best practices of investment managers, stock brokers, and hedge fund managers. While one does not need a license to trade securities, a license is required to trade other people’s money. The common qualifying assessment for practicing and licensing trading securities for the mentioned professionals includes the Securities Industry Essentials exam and Series 7, 63, 65, and 31.

Series 7, the General Securities Representative Examination, assesses the individual’s competency in undertaking the roles and responsibilities of a general securities representative. The representative refers to any individual licensed to sell securities and act as a trading agent in the United States. The entry-level test also measures the ability of the candidate to sell corporate, municipal, and investment securities, public participation programs, and variable annuities.

To trade in the United States and receive a license, the candidates should take and pass the Series 7 exam offered by the Financial Industry Regulatory Authority (FINRA). The exam structure also covers investment risk, retirement plans, taxation, client interactions, and debt instruments. After passing the exam, the broker can trade securities for clients in the financial market, except in the real estate and life insurance sectors.

Regulatory bodies require one to sit the Securities Industry Essentials (SIE) for complete general securities registration. The SIE exam is considered entry-level and a prerequisite to the Series 7 exam. It assesses basic knowledge and fundamentals of working in the securities niche, like products and risk agencies, different job functions, and best and prohibited practices in the trade.

Passing the exam qualifies one to pursue a career in the financial industry and later top-up with any field, depending on the desired career path. The SIE primarily contains a revised structure that replaces sections of the other nine Series exams and acts as a qualifying measure for the other more advanced exams. The changes also eliminated replicated test content. This shortens the duration and process required for getting licensed.

On the other hand, Series 63 enables the holder to solicit orders on any security in the field and assesses knowledge of ethical practices and fiduciary obligations. All states, except six, require one to take the Series 63 exam to check if they know what is considered dishonest and unethical practices in state securities practice. Thus, a minimum 72 percent score in the exam must be attained to qualify to solicit orders. However, unlike Series 7, one does not require a prerequisite to sit the exam; only fill out Form-10. The form is a filing required to fully disclose information an investor needs to make an investment decision.

The other ethical assessment exam required to become a financial adviser, Series 65, covers the laws, regulations, and ethics. It also allows the professional to undertake functions associated with an Investment Adviser Representative (IAR), a fundamental aspect of financial advising. Series 65 also allows one to offer investment advice to clients at a fee. However, only a combination of Series 65 with Series 7 allows one to sell securities and trade.

Lastly, Series 65 allows the financial advisor to charge the client fees instead of commissions. The exam is considered more stringent and complicated than the Series 63, as the rules are stricter on financial advisers charging fees than commissions. FINRA also sometimes exempts certified public accountants and certified financial professionals.

Skiing in Powder Conditions

Keefe Gorman is an established Merrill Lynch executive who has attained Barron’s Top 100 advisors ranking. When away from his work with Merrill Lynch, Keefe Gorman is active with the U.S. Ski & Snowboard association, and enjoys challenging slopes of varying terrain every winter.

One of the most sought after conditions on skis is fresh, untracked powder snow. For those new to such snow conditions, the tendency may be to try the same techniques that work on packed runs, and if so, the experience can be frustrating.

One essential to maximizing your day on the powder is acquiring fat skis that feature an 80mm to 110mm width. These allow the ski to float, rather than sinking in the soft snow to a point where work is required to get them back up and ready for a turn again.

Another critical aspect of skiing powder is maintaining balance by flexing the ankles such that the toes point toward the head, pulling the skis up and out of the snow. Resist the temptation to lean back, as this often results in a too-rapid speed gain and subsequent loss of control. If the skis are wide enough, you do not need to worry about them diving forward in the powder, and it will not be necessary to pull the toes up to get the tips up and over the snow. In addition, a majority of fat skis are equipped with a rocker, or rise in the center of the ski in relation to the tips, that helps keep the skis afloat.

United States Ski and Snowboard Athlete Development Pipeline System

Merrill Lynch professional Keefe Gorman is an accomplished New York-based wealth management advisor with over three decades of experience. Founder of the Gorman Group at Merrill Lynch Wealth Management, Keefe Gorman assists individuals and institutions in achieving their wealth management goals. Outside work, he is a United States Ski and Snowboard Association member.

The United States Ski and Snowboard Association avails the resources athletes require to achieve global excellence. The association manages multiple programs, including the Athlete Development Pipeline System, whose goal is to set a clear path for athletes engaged in skiing and snowboarding and enable them to win at every level on the global stage.

Athletes learn the guidelines for progressing through the United States Ski & Snowboard competition system. The pipeline details the individuals responsible for athlete development at various stages, such as divisions, clubs, and the United States Ski Team. The critical goals of the program are to promote a multi-discipline athlete development process, identify talented athletes and coaches around the country, and train and empower them. Other goals include establishing a nationwide system where athletes receive support by empowering clubs, academies, regions, and programs.

An Overview of the Ski and Snowboard Responsibility Code

 

American Association of Snowboard Instructors
Image: thesnowpros.org

Over the course of a financial career spanning more than three decades, Keefe Gorman has held wealth management and leadership positions with Merrill Lynch. In addition to his work with major financial operators such as Bank of America and Merrill Lynch, Keefe Gorman, a professional skier, serves as a Professional Ski Instructors of America-certified ski instructor.

With more than 32,000 members, the Professional Ski Instructors of America and American Association of Snowboard Instructors (PSIA-AASI) is the world’s largest ski and snowboard organization. For nearly six decades, PSIA-AASI has represented the interests of skiers and snowboarders in various areas of athletics and instruction, including safety.

The ski and snowboard Responsibility Code is the most widely recognized doctrine for trail safety, having gained the support of numerous relevant bodies including the National Ski Areas Association (NSAA). The Responsibility Code sets forth several important standards of ski and snowboard conduct, namely maintaining control of one’s speed and direction at all times and obeying right of way rules. According to the code, right of way typically belongs to individuals further down the mountain, as they cannot monitor the movements of skiers and boarders behind them. However, individuals who are merging with a trail must look in both directions and wait for a safe opportunity to join it.

Additional aspects of the ski and snowboard Responsibility Code include preventing the progress of runaway equipment whenever possible, learning and obeying relevant trail markers, and learning how to properly use a ski lift.

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.

An Introduction to the Serve and Volley Tactic in Tennis

Serve and Volley
Image: optimumtennis.net

Keefe Gorman is an experienced wealth advisor with Merrill Lynch in New York. Beyond his activities as an advisor and managing director at Merrill Lynch, Keefe Gorman enjoys leading an active lifestyle. He is particularly fond of playing tennis.

Tactics individuals can implement on the tennis court include the serve and volley play. A typical exchange between tennis players involves the server beginning the point and both players remaining at the back of the court until an error or winner has been hit, or until one player can move into the net and end the point with a volley. Once the dominant style of play in tennis, the serve and volley is now used as a change of pace or surprise tactic in which the server immediately moves forward and, ideally, finishes the point at the net within one or two strokes following the serve.

There are a number of components to a successful serve and volley play. For example, a fast, powerful serve can sometimes overwhelm the returner and produce a weak reply that makes for an easy volley. On the other hand, a skilled returner can use the pace against the server and hit a return winner before the opponent has made more than a few steps toward the net. In many cases, a more effective play is a wide, slicing serve or a kick serve into the body, either dragging the returner far off of the court or jamming his racket to prevent a strong return.

The surface of the court can also influence the outcome of the serve and volley play. On a grass court, for instance, balls stay low to the ground after the first bounce. Slice serves are particularly effective on grass, further enhancing the tactic on a grass court. On the other hand, clay courts are less forgiving to slice because they produce high bouncing balls that allow the returner to take his time and measure a perfect passing shot before the server has positioned himself at net.

An Overview of Tennis Elbow

tennis elbow

Keefe Gorman has nearly three decades of experience as an advisor with prominent financial institutions such as Merrill Lynch. Beyond his financial activities with Merrill Lynch, Keefe Gorman enjoys staying physically active by playing tennis.

Though not exclusive to tennis players, tennis elbow ranks as one of the most common injuries tennis players suffer. Tennis elbow is the colloquial term used to describe lateral epicondylitis, a condition characterized by pain in muscles and tendons around the elbow. The condition is brought about not only by overuse of the forearm but by repetitive motions made by the hand and arm, making tennis players particularly vulnerable.

Tennis elbow can begin either as a symptom of a sudden injury or as a long-developing standalone condition. The lateral epicondyle, the area of the arm where muscles and tendons meet the bony exterior of the elbow, is typically the source of discomfort, with symptoms generally originating in the dominant arm.

All types of athletes suffer from tennis elbow, though the malady is more commonly seen in nonathletes. Fewer than 5 percent of tennis elbow cases involve actual tennis players. That said, the condition is prevalent in the tennis community, with an estimated 50 percent of tennis players experiencing the problem at some point in their careers.

Unfortunately for tennis players and other athletes, the primary treatment for overuse injuries is simply resting the impacted area. Before or after a bout of tennis elbow, players should consult a trusted coach or physical trainer. There are various technical adjustments players can make to put less stress on the lateral epicondyle and exercises that can strengthen the area.

ShelterBox’s Work in Nepal

ShelterBox USA
Image: shelterboxusa.org

Outside of work as a managing director at Merrill Lynch, Keefe Gorman is an avid skier who enjoys spending time on the slopes with his family. Keefe Gorman also remains actively involved with a number of charities, including ShelterBox USA.

A nonprofit organization, ShelterBox USA was founded in 2004. It is one of the worldwide affiliates of ShelterBox, which was started by the Rotary Club of Helston-Lizard in Cornwall, England. ShelterBox is now the Rotary Club’s largest project in the world.

The aim of the organization is to provide people who have experienced humanitarian calamities and catastrophes with shelter and care. Since its founding, the nonprofit has been involved in more than 270 humanitarian crises and catastrophe relief operations in over 95 geographic areas and has helped more than 1 million people.

When a destructive 7.8-magnitude earthquake hit Gorkha, Nepal, in April 2015, thousands of people were killed, and entire villages were destroyed. Within two days of the catastrophe, a team from ShelterBox arrived and rapidly began distributing aid from stocks that had been prepositioned in a nearby location. The team also provided tents for damaged hospitals in the national capital of Kathmandu.

Further, ShelterBox distributed shelter kits to people in need. The kits contained heavy-duty tarps and tools to be utilized in different ways to fix and build shelters. ShelterBox team members also helped in building the shelters.

A year after the tragedy, the organization has assisted in providing shelter to over 67,000 individuals in Nepal.

Foodnet Dietician Oversees Distribution of Nutritious Meals

Foodnet Meals on Wheels
Image: foodnet.org

 

A top-ranked financial advisor, Keefe Gorman is the managing director of investments for Merrill Lynch. Keefe Gorman is heavily involved in efforts to serve his community and has served on the boards of several charitable organizations. As an eight-year member of the board of directors for Foodnet Meals on Wheels, he dedicated his time and expertise to helping the elderly in Tompkins County, New York.

Foodnet Meals on Wheels has worked to promote the dignity and well-being of the elderly in Tompkins County since 1987. According to Foodnet, about 40% of older adults do not receive adequate nutrition, thereby increasing their risk for serious chronic health problems such as diabetes, heart disease, high blood pressure, and osteoporosis. The organization’s efforts to provide nutritious meals help people to avoid these conditions and continue to live independently.

Foodnet employs a full-time dietician who oversees all the nutritional aspects of the Meals on Wheels program. In addition to providing an initial home visitation to determine eligibility, the dietician also provides individual nutrition counseling and provides referrals to other programs to help clients stay independent. In 2014, nearly 175,000 healthy, balanced meals were provided to area residents.

Shelter Box Provides Living Essentials for Disaster Victims

Shelter Box USA
Image: shelterboxusa.org

A leading wealth management advisor based in Ithaca, New York, Keefe Gorman serves as Managing Director – Investments at Merrill Lynch. With three decades of experience as a financial advisor, Keefe Gorman has appeared in several of Barron’s Top 100 broker lists. When not serving his clients at Merrill Lynch, Mr. Gorman gives back by supporting a number of charities, including Shelter Box USA.

ShelterBox provides shelters and other supplies for families in areas where a natural disaster has occurred or a humanitarian crisis is ongoing. The idea for the organization began with a simple question: what does a family need that has lost everything? In response, ShelterBox came up with an answer in the form of a package that consists of a small cargo container that includes a large tent, blankets, gloves, hats, mosquito nets, a water filter and storage containers, pots and pans, solar lamps, tools, and a tent repair kit – the staples a family needs to survive and to begin rebuilding their lives after losing their homes and belongings.

ShelterBox has shipped over 100,000 of these boxes to people in 240 disaster areas in 90 countries, helping more than one million people. The latest deployments include shipments of ShelterBoxes to people in Malawi displaced by flooding as well as those who were affected by the 2015 earthquake in Nepal.