Biondo Investment Advisors, a Milford, Pa.-headquartered registered investment advisor with about $800 million in client assets, has added Luke Barbalich to its team of advisors. Barbalich joins the firm from the Atlantic Health System, where he served as community outreach coordinator. He has also been a client of the firm for more than 20 years.
As a career changer, Barbalich is not bringing over his own book of business. But he has been introduced to several clients he’ll be working with, and is expected to bring in new ones, said Joseph Biondo Jr., CEO, chief investment officer and portfolio manager at the firm.
The RIA is a second-generation firm founded by Biondo’s father, Joseph Biondo Sr. The team broke away from Citigroup in 2004.
Biondo’s focus is investment management; it manages all client assets in-house with a research-driven portfolio management team. They also run their own mutual fund, the Biondo Focus Fund (BFONX).
As a former client, Barbalich is intimately familiar with the firm’s investment philosophy.
“I think that gives him a ton of credibility with our clients or prospective clients, that he brings that perspective,” Biondo Jr. said. “He knows where they are because he’s been there, and he knows what people are looking for, and can show them how we can solve their financial problems or challenges.”
Biondo Jr. said Barbalich also brings experience in the health care industry, where much of his job involved interacting with people.
“Luke’s background in his prior life was connecting with people, families, children, really understanding them and creating something different for them,” Biondo Jr. said. “His ability to connect with people gives him a huge leg up relative to a lot of other advisors.”
“As a financial advisor, I feel I can continue to help people find a better path, by focusing on their financial health and helping them to arrive at better decisions,” Barbalich said in a statement. “I’ve been a Biondo client for many years and have always appreciated the personal touch that Karl, Joe Sr. and Joseph have always brought to their interactions with clients. That’s something I valued as a client and something I’ve always tried to emulate.”