Financial advisors Giovanni Duran, Joseph Cataldo and Nick Penna, operating as IronRidge Wealth Management Group in Basking Ridge, N.J., have joined Raymond James Financial Services, the firm’s independent broker-dealer.
Duran, Cataldo and Penna were formerly with Morgan Stanley, where they managed approximately $520 million in client assets.
Duran, a managing partner of IronRidge, was formerly senior vice president, portfolio management director and financial advisor at Morgan Stanley, where he worked since 2008. He has over two decades of experience in the financial services industry. Duran received a bachelor's degree in finance from Kean University.
Cataldo, a managing partner of IronRidge, was formerly first vice president and financial advisor at Morgan Stanley, where he worked for more than 22 years. Cataldo received a degree in economics from William Paterson University of New Jersey.
Penna, senior vice president of wealth management at IronRidge, was formerly a financial advisor at Morgan Stanley, where he worked for more than eight years. Penna earned his bachelor’s and master’s degrees from the University of Maine.
According to the firm’s website, their practice works with business owners, corporate executives, families, health-care professionals and retirees.
Duran said in a press release that the three advisors knew the next-best step for them and their clients was to become an independent practice, and that Raymond James offered them client-focused support and impressive technology.
“We are excited to launch our independent practice and operate as true business owners as we continue to serve our clients,” Duran said.
Raymond James & Associates, headquartered in Saint Petersburg, Fla., is a subsidiary of Raymond James Financial.