Raymond James snags $435M Merrill Lynch team

From left to right: senior client service associate Dawn Balinelli and financial advisors Nicholas Zaccardi, Vincent Zaccardi, and Gerard Mattaliano at The Zaccardi Group.

The brokerage giant extends its reach in Massachusetts with a group that includes a father-son advisor duo.

Raymond James is further solidifying its presence in the northeast as it welcomes a team from Merrill Lynch to its employee advisor channel.

The broker-dealer giant announced Thursday that The Zaccardi Group of Raymond James, which reportedly managed $435 million in client assets at Bank of America’s investment and wealth management division, is joining Raymond James & Associates.

The team includes financial advisors Vincent “Vinny” Zaccardi, Nicholas “Nick” Zaccardi, and Gerard Mattaliano, along with senior client service associate Dawn Balinelli.

Based in Burlington, Massachusetts, the group is now part of Raymond James’ New England complex, managed by Bill Drew.

“Aligning with Raymond James provides us the freedom to objectively advise and serve our clients to the best of our ability,” Nick Zaccardi, first vice president of investments said in a statement. “We’re empowered to have meaningful conversations about wealth and their personal goals while still enjoying the robust resources of a large firm.”

Vinny Zaccardi, senior vice president of investments, brings over three decades of experience in the financial services industry, including various roles during his tenure at Merrill Lynch. His son, Nick Zaccardi has over a decade of experience in the financial industry, beginning his career as a financial advisor in 2013 at Merrill Lynch.

Gerard Mattaliano started in the financial services industry in 2016 and has worked for Morgan Stanley, Charles Schwab, and Merrill Lynch.

“I am delighted that Raymond James continues to attract advisors like Vinny, Nick, and Gerard, who exhibit a notable passion for guiding clients toward achieving their long-term financial goals,” said Kelly Anderson, northeast regional director for Raymond James.

The three-advisor team’s addition in Massachusetts builds on an earlier move in which Raymond James onboarded an $800 million group from Commonwealth to its independent advisor channel.