LPL has once again extended its reach in New York state with the addition of a three-decade veteran advisor from Osaic.
On Monday, the firm announced that financial advisor Jerry Rizza has joined its broker-dealer, RIA, and custodial platforms. Rizza previously worked with Osaic, where he reportedly oversaw approximately $250 million in advisory, brokerage, and retirement plan assets.
With a diverse background spanning 31 years in financial services, Rizza’s career includes a stint in the Oakland A’s minor league baseball system and over three years as an accountant in New York City.
He shared his passion for financial planning, stating, “As I learned more about the financial services industry, I fell in love with the idea of helping families plan for a more secure financial future,” the veteran advisor said in a statement Monday.
Based in Melville, New York, Rizza leads Rizza Financial Services with the support of two experienced assistants, Rachel Beneventano and Jessica Weich. His practice focuses on retirement planning and behavioral investment counseling, aimed at helping clients build and manage wealth for retirement.
His decision to affiliate with LPL was motivated by a desire for improved service, efficiency, and advanced technology, with an “advisor-centric model [that] offers the support we need to serve our clients more efficiently and effectively.”
Beyond day-to-day operations, Rizza believes the transition will benefit his practice in the long term.
“This move has been years in the making, and I believe it’s a strategic investment in our future,” he said.
The news of Rizza’s transition to LPL comes shortly after the firm welcomed another veteran-led team from Osaic, Investment Advisors Financial Group. That team, headquartered in New Jersey, reportedly managed $1 billion in assets.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
The collaboration will give RIAs yet another access point into the alternatives space through a new unified managed account capability.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
"Unless he has to leave for fraud".
Hardliners give way to pressure to approve consideration of bills.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
