A boss idea: New Jersey-based team launches ShoreHaven Wealth Partners with Dynasty Financial Partners
Team Previously Managed $420 Million in Client Assets
ST. PETERSBURG, Fla.–(BUSINESS WIRE)–Leading wealth advisor Lawrence Durso, his son Michael Durso and advisor Michael Lombardi today announced the launch of their new firm, ShoreHaven Wealth Partners, an independent wealth management firm based in Red Bank, New Jersey. The team had previously worked together at Durso Wealth Management Group at Morgan Stanley where they managed $420 million in client assets.
ShoreHaven Wealth Partners is an independent wealth management firm working with a select group of affluent multigenerational families and high net worth individuals, to protect, grow and transition their assets. Many of their clients are family-owned businesses who face succession and transition challenges.
Joining ShoreHaven Wealth from Morgan Stanley are the following professionals:
- Lawrence Durso, a veteran wealth advisor. Mr. Durso has worked in the financial services industry since 1978;
- his son, Michael Durso, CFA, an investment specialist. He has worked in financial services since 2006;
- Michael Lombardi, CFP, also has experience working in financial services since 2006, and
- Sheryl Iannuzzelli, Director of Relationship Management, Chief Compliance Officer
ShoreHaven Wealth Partners has joined the Dynasty Financial Partners network. Through Dynasty, the firm has access, on their clients’ behalf, to a full array of capital markets and investment banking capabilities, as well as a vast range of investment research and consulting, advanced technology, proprietary analytical tools, and an online research center. They have also selected Fidelity Institutional as the custodian for their clients’ assets. ShoreHaven Wealth has chosen Black Diamond for performance reporting.
“We are excited to launch ShoreHaven Wealth Partners as an independent firm. We believe there are great opportunities to create a customized planning process for our clients as well as create our own brand. And, in the future, we anticipate adding like-minded advisors to our firm,” said Mr. Larry Durso.
“The ShoreHaven team is a group of seasoned financial advisors and experts and they are well-positioned to flourish in the independent space. Because of the relationship between Larry and his son Mike, the team brings a particularly insightful perspective to their clients in understanding the impact of family dynamics on the management of wealth across generations,” said Shirl Penney, CEO of Dynasty Financial Partners. “The movement to independence is continuing – even during the lockdown – and we are pleased that an increasing number of RIAs are choosing Dynasty as their platform services partner to help them scale, grow, expand margins, operate more efficiently, and better care for their clients. We are thrilled to welcome ShoreHaven Wealth to the Dynasty Network!”
BIOS
Lawrence Durso, Founding Partner, CEO
Larry Durso founded ShoreHaven Wealth Partners in 2020 with his son Michael and Michael Lombardi. Most recently he had led the Durso Wealth Management Group at Morgan Stanley, where he was a Managing Director- Wealth Management.
Lawrence Durso has worked in the financial services industry since 1978. He has primarily focused on creating solutions for unique problems typically associated with high net worth clients and their families. Additionally, he holds multiple securities registrations and life and health insurance licenses.
He holds a Bachelor’s Degree (summa cum laude) from St. John’s University and a Master’s Degree from Columbia University.
Mr. Durso is active in several charitable organizations, including St. John’s University (past President of the SJU Staten Island Alumni Association) and the Daughters of Saint Paul. He is currently Chairman of the Board of Directors for the Lt. Dennis W. Zilinski II Memorial Fund, also a member of the Algonquin Arts Theatre Board of Trustees and an active Supporter of the Society for the Prevention of Teen Suicide.
Michael Durso, CFA®, Founding Partner, Chief Investment Officer
Michael Durso is a co-founder and Chief Investment Office (CIO) of ShoreHaven Wealth Partners. As CIO, he is responsible for oversight of ShoreHaven’s asset allocation, manager selection, and investment strategy.
He has over a decade of experience in the financial services industry and has worked with clientele ranging from pensions, foundations, endowments, home offices and financial advisors to successful professionals and their families.
He began his career at AllianceBernstein in 2006, where he worked with financial advisors as a Senior Regional Consultant. In 2009, he joined BlackRock, where he was a Vice President within the iShares ETF business. Prior to joining Morgan Stanley in 2016, he worked at SKY Harbor Capital Management, where he was responsible for relationship management in the Americas.
He earned his BBA degree in Finance with a minor in Marketing from James Madison University in 2006. While at James Madison, he was a varsity member of the Track and Cross Country program and 2003 IC4A Men’s Cross Country Championship team. He was also a member of Phi Sigma Pi National Honors Fraternity.
Michael a CFA® Charter Holder and member of the New York Society of Securities Analysts (NYSSA).
Michael Lombardi, CFP®, Founding Partner, Chief Planning Officer
Prior to co-founding ShoreHaven Wealth Partners, he worked with Lawrence Durso in the Durso Wealth Management Group at Morgan Stanley since 2012. Mr. Lombardi began his career as a financial advisor at Wachovia Securities in 2006, shortly after earning his B.S. in finance from The College of New Jersey. He completed the Certified Financial Planning Program at Boston University and, in 2013, was awarded the CFP® certification.
Sheryl Iannuzzelli, Director of Relationship Management, Chief Compliance Officer
Sheryl Iannuzzelli runs the day-to-day operations of the team. She joined the Durso Wealth Management Group at Morgan Stanley in 1995. Ms. Iannuzzelli holds a bachelor’s degree from Seton Hall University.
About ShoreHaven Wealth Partners
ShoreHaven Wealth Partners is an independent wealth management firm based in Red Bank, New Jersey that works with a select group of affluent multigenerational families and high net worth individuals, to protect, grow and transition their assets. Many of their clients are family-owned businesses who face succession and transition challenges.
Their objective is to help clients enjoy what’s important in their lives, through the benefit of financial prosperity. For more information, please visit: www.ShoreHavenWealth.com and on Twitter: @ShoreHavenWP
About Dynasty Financial Partners
Dynasty Financial Partners is known for assisting advisors of integrity to better service their clients, run their businesses more profitably, grow faster, and enhance the enterprise value of their firms. Dynasty does this by providing wealth management and technology platforms for select independent financial advisory firms. Dynasty creates access to valuable resources and industry-leading capabilities through an open architecture platform, enabling advisors to address their clients’ needs and to protect and grow their wealth. Dynasty supports independent advisors and their teams in being independent, but not alone, by creating exclusive community events and experiences. Dynasty also offers access to flexible capital solutions to help advisors expand, scale, and grow their business. Dynasty’s core principle is “objectivity without compromise,” and the firm is committed to developing solutions that allow investment advisors to act as true fiduciaries to their clients.
For more information, please visit www.dynastyfinancialpartners.com.
Also visit Dynasty on social media:
LinkedIn: https://www.linkedin.com/company/dynasty-financial-partners
Twitter: @DynastyFP
Youtube: http://bit.ly/1MKXhC8
Contacts
Media
Sally Cates
sallycates@dynastyfinancialpartners.com
212-373-1000
