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.”
A substantial number of people in a new 2,200-person survey believe their wealth, their "wallet power" and their retirement timelines are at stake.
The S&P 500 headed toward its 45th record in the year helped in part by a surprise interest income gain at the Wall Street giant.
Meanwhile, Wells Fargo’s WIM group reported close to $2.3 trillion at the end of last month.
The Securities and Exchange Commission has focused on "black-and-white" allegations of AI washing, but that could broaden out to a gray area that may loop in more financial services companies, a lawyer says.
More than nine in 10 HNWIs prioritize charitable giving, but demographics help shape the whys and the hows.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.
Morningstar’s Joe Agostinelli highlights strategies for advisors to deepen client engagement and drive success
