A pair of Purchase, N.Y.-based financial advisors has aligned with registered investment advisor KM Capital Group to join LPL Financial’s broker-dealer, corporate RIA and custodial platforms.
Jerry Giordano and Joseph Praino join KM Capital, which is also located in Purchase, N.Y., from HSBC Securities where they managed about $350 million in advisory and brokerage assets, according to an announcement today from LPL.
Praino said after 26 years of working in banks, he believes the move to independence provides him with the freedom and flexibility to serve his clients’ best interest. “No one is making decisions for me or telling me what products I should or shouldn’t offer to clients,” he said in a statement.
Noting that Praino has been his mentor for more than 10 years, Giordano said joining LPL allows him to operate his practice as he sees fit, which opens the door to better clients’ service. “I have the autonomy to access products and information that were not previously available. With more options, I feel I can now select a product mix based on what’s best for my clients instead of offering a cookie cutter strategy. This, coupled with LPL’s innovative capabilities, will help me take my business to the next level,” he said.
“This is an exciting time for everyone at our firm. The addition of Joe and Jerry to our team is a special accomplishment that really cements the foundation of our organization,” said Marc Stein, managing director and owner of KM Capital. “They share our client-centric values, and both bring a significant amount of expertise and banking experience, which helps round out the team.”
Rich Steinmeier, LPL Financial managing director and divisional president, business development, said, LPL is proud to support the independent practice of Giordano and Praino. “We also congratulate KM Capital on its continued growth. Our goal is to be a strategic partner to our advisors by understanding their businesses and delivering the relevant capabilities, technology and support that enables them to be successful in meeting the needs of their clients and managing their business.”