LPL expands HNW employee advisor division in New York with $700M BofA duo

LPL expands HNW employee advisor division in New York with $700M BofA duo
The Long Island-based team joining LPL Private Wealth bring over 40 years of collective experience catering to a diverse clientele, with a focus on the Brooklyn area.
SEP 10, 2024

LPL Financial has extended its high-net-worth employee advisor unit's reach in the Northeast as an advisor duo from Bank of America 

The firm announced Tuesday that BrookBridge Private Wealth, led by advisor John Duane and portfolio manager Gregory Giantsos, has launched with LPL Private Wealth Management. The team based in Long Island, New York, previously served roughly $700 million in advisory, brokerage, and retirement plan assets at Bank of America Private Bank.

With over 30 years of financial industry experience, including stops at Citi, Wells Fargo, and JPMorgan, Duane has focused on private banking for the past 25 years. Giantsos, who began his career in 2012, attributes his success to a keen interest in market dynamics. The two have worked together since 2015, serving a clientele that includes business owners, non-profit organizations, professionals, and legacy wealth, with a particular focus on the Brooklyn area.

“Our goal is to help clients use their wealth to live the life they want to live,” Duane said in a statement. “Our clients run the spectrum, from business owners, to families, to organizations, to folks in the media industry.”

The move to LPL Private Wealth Management enables Duane and Giantsos to expand their service offerings. Giantsos emphasized that the transition would allow BrookBridge to maintain a high level of personalized service while gaining access to additional resources. “With LPL, we can build BrookBridge the way we want, with the autonomy, support, resources and services we need,” he said.

Launched in November last year, LPL Private Wealth offers an independent employee advisor affiliation model, which includes resources for estate planning, tax strategies, alternative investments, and other specialized services. According to Duane, the ability to access these additional offerings strengthens client relationships.

“While core asset management will always be the most important element of what we do, we can now serve clients across a new spectrum, including but not limited to alternative investments,” he said.

BrookBridge's launch represents the second Bank of America addition for LPL Private Wealth in as many months, following its recruitment of a tennis pro-turned-advisor who previously managed $725 million in Texas.

Latest News

Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity
Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity

Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.

What does it take to feel ‘financially comfortable’ or ‘wealthy’ in 2025?
What does it take to feel ‘financially comfortable’ or ‘wealthy’ in 2025?

New report shines a light on how Americans view wealth today.

Retirement delays, Social Security fears prompt advisors to rethink income strategies
Retirement delays, Social Security fears prompt advisors to rethink income strategies

Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut
RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut

Modern Wealth's latest deal for a California-based fee-only RIA marks its fourth acquisition of 2025.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.