LPL Financial announced that it onboarded a couple of teams recently. This includes Morristown Wealth Management and Air Capital.
Morristown Wealth Management
LPL said that financial advisors Don Giovanello, Jr., and Gian Paolella, CFP, with Morristown Wealth Management have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported having served approximately $340 million in advisory and retirement plan assets* and join LPL from Raymond James Financial Services.
The Morristown, NJ-based family practice was established in 2009 by Don Giovanello, Sr., a beloved advisor who sadly lost his battle to cancer in 2018. And his son, Don Jr. grew up immersed in the business and joined the practice in 2010 right out of college. He credits his father as a mentor and the driving inspiration for his career path and unwavering work ethic. Gian, who is Don, Jr.’s brother-in-law, is partner in the firm, joining in 2018 following an initial career in investment product sales. Rounding out the group is longtime practice manager Ellen Luithle, who started her career 25 years ago working alongside Don Sr. and continues to be an integral part of the team.
With a solid approach to financial planning, asset management and portfolio construction, the team offers a wide range of personalized services to address the diverse financial needs of individuals, families and business owners nationwide.
Air Capital Wealth Management
LPL Financial also announced that financial advisors Michael Caffrey, CRPC, Derek Keller, CFP, CPFA, CRPC, MBA, and Gabriel Parham have launched a new independent practice, Air Capital Wealth Management, through affiliation with LPL Strategic Wealth Services, a supported independence model. And the team reported having served approximately $685 million in advisory, brokerage and retirement plan assets* and joins LPL from Merrill Lynch.
Based in Wichita, Kansas (known as the Air Capital of the World), the advisors are longtime colleagues who each bring diverse experiences and perspectives to the team. Caffrey was mentored by his father and he also grew up in the business and recalls making 50-cents an hour as a child to help his mother file — a job that sparked his interest in investments early on. Keller has nearly two decades of experience guiding clients’ financial lives. Together, with support from two assistants, the advisors share a commitment to providing comprehensive services and personalized advice to their clients.
As they continue to honor the legacy of the firm’s early leaders, Ron Caffrey, Janet Johnson and Deborah Rowley, all who have since retired, the Air Capital team decided the independent model would best suit the growing needs of their business.
Outside the office, all three advisors have been active in the community. Keller is a Boy Scout leader, member of Shriners International and proud supporter of his alma mater, Wichita State University. And Parham is a member of The American Legion and Fuse Foundation. He also supports Kansas Honor Flight and Big Brothers Big Sisters. Caffrey supports several organizations including the Wichita Wagonmasters, East YMCA Men’s Club, Senior Services of Wichita and St. Thomas Catholic Church. As independent advisors, they look forward to expanding their local presence by using Wichita-based vendors and investing more back into the community.
KEY QUOTES (MORRISTOWN):
“Our clients are our top priority, and we strive to understand their unique circumstances so we can create distinctive plans that provide a roadmap for their financial journey. Guided by dedication and integrity, we focus on creating lasting relationships with clients, not just trading stocks, bonds and mutual funds.”
“Our industry is experiencing an aging advisor population, with the average age becoming a topic of increasing concern. As younger advisors, we saw this as an opportunity for Morristown Wealth Management to bridge that age gap and bring a fresh perspective to our clients. LPL is a great platform to support our future growth and help us take my dad’s legacy to the next level.”
-Don Giovanello Jr., who built much of his business by prospecting Penn State alumni
“We look forward to leveraging LPL’s open architecture platform, robust technology and strategic business resources that will enable us to continue growing our business and deliver the best possible services to our clients. We appreciate that LPL doesn’t offer proprietary investment products, meaning as independent advisors, we can choose appropriate products and strategies for our clients. Our holistic approach to financial planning, combined with LPL’s resources, will allow us to continue to deliver personalized, comprehensive advice that meets our clients’ needs.”
-Gian Paolella
“We welcome Don and Gian to the LPL community and look forward to helping them honor Don Sr.’s legacy as they build their ideal practice for the future. At LPL, we are deeply committed to giving advisors ultimate choice and flexibility in how they operate, along with differentiated tools and resources to help them deliver great advice and run thriving businesses.”
-Scott Posner, LPL Executive Vice President, Business Development
KEY QUOTES (AIR CAPITAL):
“Our mission is to help each individual client with their financial goals by simplifying the complexities, making it easier for them to understand. We are passionate about building deep relationships with clients and providing them with personalized financial strategies.”
-Gabriel Parham
“We want to be able to focus on clients, their goals and objectives, not corporate mandates. LPL provides us with the flexibility and resources we need to make our own decisions and build our business how we want. We also have several new options across the board within LPL’s open architecture platform, including more planning software, which allows us to provide even more comprehensive and personalized experiences for our clients.”
-Michael Caffrey
“We truly appreciate all of these dedicated resources and sophisticated capabilities behind the scenes to allow us to run the business as we see fit while also ensuring clients are getting the best care. We look forward to having more time to interface with clients and providing them with differentiated experiences.”
-Derek Keller
“We welcome Mike, Derek and Gabe to LPL and congratulate them on the launch of their new independent business. We are committed to being a long-term partner to the Air Capital team — and all our advisors — by delivering a leading wealth management platform that supports the full lifecycle of their business.”
-Scott Posner, LPL Executive Vice President, Business Development
