A financial advisor and two of his former interns have established a new independent practice in New Jersey.
Roger Relucio, CFP, CRPC, has spent more than a decade building a team of specialists including those who joined an internship program he created.
Pasqualino “Pat” Ruffa, CFP, CRPC, and David Kraus, CRPC, were part of that program and were hired as advisors by Relucio once they left college. They now join him in the new firm having left Merrill Lynch.
Breakaway Wealth Management, based in Hoboken, New Jersey, has been founded with help from LPL Financial’s Strategic Wealth Services, which has enabled Relucio to tap into his natural entrepreneurial spirit.
“The whole picture of Strategic Wealth Services was really compelling to us,” Relucio said. “It allows us partnered, supported independence so we’re not starting off all on our own. We have a full team behind us to take care of the operational side of the house so that we can concentrate on growing our business and giving clients the boutique-style service they deserve.”
The team has served approximately $270 million in advisory, brokerage and retirement plan assets and also includes client services associate Jenna Looney.
“We offer straightforward, actionable advice and financial strategies that are both comprehensive and easy to understand,” Relucio said. “Our job is to empower our clients, not overwhelm them.”
Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.
Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.
National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.
While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.
A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.
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.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
