LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisors Jerry Giordano and Joseph Praino to its broker-dealer and corporate RIA platforms, leveraging LPL as custodian. The advisors join from HSBC Securities and serve approximately $350 million in advisory and brokerage assets.
Giordano and Praino have teamed up with New York-based KM Capital Group, an existing LPL firm that provides comprehensive wealth management and financial planning. KM Capital was founded by Marc Stein last year when he joined LPL from Cetera with a plan to scale the company from an individual practice into a firm. Advisor Robert Blair joined the firm earlier this year as managing partner, and they are supported by a three-member office staff.
“We are independent advisors sharing office space and ideas. Instead of operating in silos, we’re able to collaborate with other tenured advisors with valuable experience,” said Giordano, adding that Praino has been his mentor for more than 10 years.
After 26 years working in banks, Praino 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.
LPL Financial provides service to approximately $810 billion in brokerage and advisory assets as of September 30, 2020. The company provides proprietary technology, clearing services, practice management programs and training, and independent research to 17,168 financial advisors.