Riolo Financial Group, a financial services firm based in New York City, has joined LPL Financial from Ameriprise Financial, LPL announced Wednesday.
The firm is joining LPL’s broker-dealer, corporate registered investment advisor and custodial platforms with approximately $250 million in advisory and brokerage assets.
Riolo was founded in 2014 by Dominick Riolo and his son, Frank Riolo. Lisa Sherman is now joining the team as an advisor. The three financial advisors are assisted by two office support staff members.
“With so much consolidation in the financial advice industry, it was important for us to affiliate with a leading wealth management firm. As a publicly traded firm, we believe LPL can provide our business and clients with long-term stability in this ever-changing world,” Dominick Riolo said in a statement.