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Empirical Research Partners LLC

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About

Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors — including money managers, hedge funds, insurance companies and broker-dealers — both in the U.S. and abroad. The firm’s advisory work is delivered as an outgrowth of its core broker‑dealer business: it sells non‑customized proprietary research and, when requested by subscribers, provides tailored, high‑level advisory input rather than managing client assets or executing trades.

Empirical’s methodology centers on quantitative “Models” that combine top‑down macroeconomic and industry data with bottom‑up statistical analysis to characterize market style, risk and opportunity sets, primarily for equities and portfolio strategy. Its research produces ranked groupings (e.g., quintiles/deciles) and synthesized viewpoints intended to inform professional investors’ independent decision‑making rather than to recommend or transact individual securities.

Distinctive aspects of the firm include its primary registration and activity as a broker‑dealer—its principal business activity—which is less common among multi‑team advisory firms, and a meaningful international institutional subscriber base. It also differs from typical peers by serving no individual or retail clients and by not offering portfolio management for individuals, percentage‑of‑AUM billing, or retail financial planning; research and advisory compensation is negotiated and can be received via client‑directed soft‑dollar/commission sharing arrangements.

Client services

See schedule d - miscellaneous for explanation.

Expertise

Wealth management Active portfolio management Factor investing / smart beta

Occupation focus

Executive Financial Professional

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Fee options

Commissions

Fees are negotiated on a case-by-case basis, generally included in the client’s payment for research services, paid via hard or soft dollars; no specific standard fee schedule provided.

Subscriptions

Clients pay for research and advisory services as part of research subscription fees; fees may be prepaid quarterly or annually and are non-refundable.

Main office

551 Fifth Avenue, Suite 1800

New York NY 10176

Advisors at this office

18

Most active in

New York

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

Advisors at this firm

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Sungsoo Y

CFA®, Series 63

New York, NY

Empirical Research Partners LLC

Sungsoo Yang is a CFA® charterholder with 20 years of industry experience. He has been with Empirical Research Partners LLC since 2003. The firm provides data-driven subscription research and on-request investment advice exclusively to institutional clients such as investment managers, hedge funds, broker-dealers, and insurance companies. Empirical Research Partners employs proprietary quantitative models and combines macroeconomic analysis with factor modeling to support institutional decision-making without managing client assets or serving individual investors.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Nicole P

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Nicole Price is a financial advisor at Empirical Research Partners LLC in New York, NY, holding Series 63 and Series 65 licenses with 24 years of industry experience. She has been with Empirical Research Partners since 2003. Empirical Research Partners serves institutional clients such as investment managers, hedge funds, broker-dealers, and insurance companies by providing data-driven subscription research and customized investment advice. The firm focuses on quantitative models and combines macroeconomic analysis with factor modeling to support institutional decision-making and does not manage client assets or serve retail clients.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Jacob G

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Jacob Gorelick is a financial advisor at Empirical Research Partners LLC in New York, NY, with four years of industry experience. He holds Series 63 and Series 65 licenses and has previous experience at Nasdaq and Numina Capital Management. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors, including money managers and hedge funds, using quantitative models that combine macroeconomic and statistical analysis to inform market risk and opportunity assessment. The firm primarily operates as a broker-dealer and serves a global institutional client base without managing individual client assets.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Laura A

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Laura Asker is a financial advisor at Empirical Research Partners LLC in New York, NY, holding Series 63 and Series 65 credentials with 19 years of industry experience. She has worked primarily at Empirical Research Partners, with two tenures spanning from 2003 to 2017 and from 2022 to the present. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors, including money managers, hedge funds, insurance companies, and broker-dealers. The firm’s approach combines top-down macroeconomic and industry data with bottom-up statistical analysis to deliver quantitative models that inform professional investors' independent decision-making.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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John C

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

John Cunningham Jr. is a financial advisor at Empirical Research Partners LLC with 31 years of industry experience. He holds Series 63 and Series 65 licenses and has worked at Empirical Research Partners since 2018, following five years at Cowen and Company, LLC. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors such as money managers, hedge funds, insurance companies, and broker-dealers. The firm employs a quantitative methodology combining macroeconomic and industry data with statistical analysis to deliver research and advisory input without managing client assets or executing trades.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Daniel R

Series 66

New York, NY

Empirical Research Partners LLC

Daniel Ramaroson is a financial advisor at Empirical Research Partners LLC in New York, NY, holding a Series 66 designation with five years of industry experience. He worked at Fidelity from 2016 to 2021 before joining Empirical Research Partners in 2021. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors, including money managers, hedge funds, insurance companies, and broker-dealers. The firm’s approach combines quantitative macroeconomic and industry data with statistical analysis to deliver proprietary research and tailored advisory input without managing client assets or executing trades.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Kenneth L

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Kenneth Lafreniere is a financial advisor at Empirical Research Partners LLC with 16 years of industry experience. He holds the Series 63 and Series 65 designations and has been with Empirical since 2012. Empirical Research Partners provides data-driven research and tailored investment advice exclusively to institutional investors, including money managers, hedge funds, insurance companies, and broker-dealers. The firm uses quantitative models that integrate macroeconomic and industry data with statistical analysis to support professional investors’ independent decision-making.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
user avatar

Longying Z

CFA®, Series 63

New York, NY

Empirical Research Partners LLC

Longying Zhao is a CFA® charterholder with 18 years of industry experience. He has been with Empirical Research Partners LLC since 2007, where he serves as part of a four-advisor team. Empirical Research Partners provides data-driven subscription research and customized investment advice exclusively to institutional clients such as investment managers, hedge funds, broker-dealers, and insurance companies. The firm’s approach integrates proprietary quantitative models with macroeconomic and factor analysis to support institutional decision-making without managing client assets or serving retail clients.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Rochester C

CFA®, Series 63

New York, NY

Empirical Research Partners LLC

Rochester Cahan is a CFA® charterholder with 19 years of industry experience, currently serving at Empirical Research Partners LLC since 2013. He holds a Series 63 designation and is based in New York, NY. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors, using quantitative models that combine macroeconomic and statistical analysis to support equities and portfolio strategy decisions. The firm primarily operates as a broker-dealer and serves an international institutional subscriber base without managing individual client assets.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
user avatar

Yu B

Series 63

New York, NY

Empirical Research Partners LLC

Yu Bai is a CFA® charterholder with nine years of industry experience, currently serving as an advisor at Empirical Research Partners LLC since 2014. Based in New York, NY, Yu Bai holds a Series 63 license and works within a four-advisor team. Empirical Research Partners serves an exclusively institutional client base by providing data-driven subscription research and on-request investment advice. The firm uses proprietary quantitative models and a middleware approach combining macroeconomic analysis with factor modeling to inform institutional decision-making.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
user avatar

Richard D

CFA®, Series 63

New York, NY

Empirical Research Partners LLC

Richard Derose is a CFA® charterholder with 15 years of experience in the financial industry. He has been with Empirical Research Partners LLC since 2012, where he is part of a four-advisor team based in New York, NY. Empirical Research Partners serves institutional clients such as investment managers, hedge funds, broker-dealers, and insurance companies by providing subscription-based, data-driven research and customized investment advice. The firm uses proprietary quantitative models combining macroeconomic and factor analysis to inform institutional decision-making and does not manage client assets or serve retail clients.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
user avatar

Aimo B

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Aimo Berg is a financial advisor at Empirical Research Partners LLC in New York, NY, with 15 years of industry experience. He holds Series 63 and Series 65 designations and has been with Empirical Research Partners since 2011. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors, including money managers, hedge funds, and insurance companies. The firm specializes in quantitative models that integrate macroeconomic and statistical analysis to support professional investors’ independent decision-making without managing client assets or executing trades.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
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Brendan H

Series 63, Series 65, Series 66

New York, NY

Empirical Research Partners LLC

Brendan Haley is a financial advisor at Empirical Research Partners LLC with 25 years of industry experience. He has held positions at Empirical Research Partners since 2004, following prior roles at Credit Suisse Securities and Pershing LLC. He holds Series 63, Series 65, and Series 66 designations. Empirical Research Partners provides data-driven research and tailored investment advice exclusively to institutional investors, including money managers and hedge funds. The firm’s approach combines macroeconomic and industry data with statistical analysis to support decision-making for equities and portfolio strategy, serving primarily through its broker-dealer activities rather than individual client portfolio management.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
user avatar

Wesley S

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Wesley Sapp is a financial advisor with Empirical Research Partners LLC in New York, NY. He holds Series 63 and Series 65 designations and has 17 years of industry experience, all with Empirical Research Partners since 2009. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors such as money managers, hedge funds, and insurance companies. The firm uses quantitative models combining macroeconomic and statistical analysis to deliver research intended to inform professional investors’ independent decision-making.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
user avatar

Michael G

Series 63, Series 65

New York, NY

Empirical Research Partners LLC

Michael Goldstein is a financial advisor at Empirical Research Partners LLC with 38 years of industry experience. He has been with Empirical Research Partners since 2002. He holds Series 63 and Series 65 licenses. Empirical Research Partners provides data-driven research and on-request investment advice exclusively to institutional investors, including money managers, hedge funds, insurance companies, and broker-dealers. The firm focuses on quantitative models that combine macroeconomic and industry data with statistical analysis to inform professional investors’ independent decision-making.

Wealth management Active portfolio management Factor investing / smart beta Executive Financial Professional
View complete list of advisors at this firm
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