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.”
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
