New Jersey $270M team sets up new wealth firm with LPL
The three advisors have left Merrill Lynch to form their independent firm.
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.”
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