Congratulations to John Foreman CFP® for recently appearing in the Forbes 2019 “Best-in-State Wealth Advisors” List, developed by SHOOK research. John Foreman is a Senior Vice President, Wealth Management Advisor at Merrill Lynch. He is a partner of The Foreman-Cook Group and focuses primarily on bringing value to business owners and executives. In addition to John, The Foreman-Cook Group is made up of Austin Cook CRPC® – Senior Financial Advisor, Ben Ross – Financial Advisor, David Foreman – Financial Advisor, Diana Heitzman – Reg. Senior Client Associate, and Corinne Palmer – Client Associate. For more information on The Foreman-Cook Group, visit their website fa.ml.com/foreman.cook
The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings.
The Research Process
SHOOK scours the financial services industry—banks, brokerages, custodians, insurance companies, clearing houses and others for nominations. SHOOK accepts advisors who meet pre-determined minimum thresholds and acceptable compliance records. As of this date, SHOOK has received almost 30,000 nominations—advisors who meet SHOOK’s thresholds. SHOOK invited 5,961 of these nominees to complete an online survey.
Unlike other advisor rankings, SHOOK is not a “robo-ranker”—numbers such as production and assets don’t tell the whole story, especially when much of the data is self-reported. SHOOK Research creates rankings of role models—advisors that are leading the way in offering best practices and providing a high-quality experience for clients. A focus on both quantitative and qualitative factors, including telephone and in-person meetings, is imperative. SHOOK Research is the only rating firm that interviews advisors via telephone and in person at advisor’s location.
Ranking Algorithm
The algorithm is designed to fairly compare the business practices of a large group of advisors based on quantitative and qualitative elements. Data are weighted to ensure priorities are given to dynamics such as preferred “best practices”, business models, recent business activity, etc. Each variable is graded and represents a certain value for each measured component. These data are fed into an algorithm that measures thousands of advisors against each other.
SHOOK Disclosures
SHOOK is completely independent and objective and does not receive compensation from the advisors, Firms, the media, or any other source in exchange for placement on a ranking. SHOOK is funded through conferences, publications and research partners. Since every investor has unique needs, investors must carefully choose the right Advisor for their own situation and perform their own due diligence. SHOOK’s research and rankings provide opinions for how to choose the right Financial Advisor. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Remember, past performance is not an indication of future results.
Forbes “Best-in-State Wealth Advisors” List February 2019.
Forbes is a trademark of Forbes Media LLC. All rights reserved. Rankings and recognition from Forbes/SHOOK Research are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement of the advisor.
Explore the full list of Forbes’ Best-In-State Wealth Advisors HERE.
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