Behind the State Financial Adviser Rankings of Forbes Magazine

For over 30 years, Merrill Lynch wealth management adviser Keefe Gorman has guided clients on investment strategies and retirement planning. For his achievements at Merrill Lynch, Forbes chose Keefe Gorman as one of its top advisers in New York state for 2018.

Implemented by SHOOK Research, the Forbes lists derive from quantitative and qualitative data. Telephone and in-person interviews supplement metrics of a given adviser’s performance.

The research company takes nominations from brokerages, banks, insurance companies, and other members of the financial community. Prospects must have seven years’ advisory experience, with at least one year at the nominating firm. Over 50% of their business must be with individual clients and they must be in acceptable regulatory compliance.

The quantitative measures involve the revenue of assets under management, although portfolio performance is not considered since differing client goals produce varying results. Retention of clients also plays a part.

Qualitatively, the rankings reward advisers who employ best practices. Other considerations include community service, team consultations, and full use of the firm’s resources. If gray areas of compliance arise, the researchers take into account written information provided by the firm’s leadership team.

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