A Red Bank, N.J., father-son team broke away from Morgan Stanley, where they managed $420 million in client assets, to launch their own registered investment advisor, ShoreHaven Wealth Partners, in partnership with Dynasty Financial Partners.
The firm will be led by Larry Durso, his son Michael and Michael Lombardi. Larry most recently led the Durso Wealth Management Group at Morgan Stanley. They also bring Sheryl Iannuzzelli, director of relationship management and chief compliance officer.
“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," Larry Durso said in a statement.
The advisors specialize in working with affluent multigenerational families, high-net-worth individuals and family-owned businesses.
ShoreHaven has chosen Fidelity Institutional as its custodian and Black Diamond for performance reporting.