Raymond James Welcomes New York Advisors Managing $315 Million

Rhea-AI Summary

Raymond James (NYSE: RJF) has announced the addition of Custom Wealth Strategies (CWS) to its independent advisor channel, Raymond James Financial Services. The team of four financial advisors, led by David R. Burgio Sr., joins from Commonwealth Financial Network, bringing approximately $315 million in client assets under management.

The CWS team includes David R. Burgio Sr., CPA, Michael Malaney, CFP®, David M. Burgio Jr., and Mary M. McCafferty, CFP®. They specialize in serving high-net-worth clients, including executives, physicians, business owners, and retirees. The team is supported by three paraplanners and an office coordinator.

Positive

• Addition of experienced team managing $315 million in client assets
• Expansion of high-net-worth client services in the New York market
• Strengthening of advisor roster with experienced professionals holding CPA and CFP® credentials

Negative

• None.

St. Petersburg, Fla., Sept. 05, 2025 (GLOBE NEWSWIRE) -- Raymond James (NYSE: RJF) recently welcomed four financial advisors in Depew, New York, to Raymond James Financial Services (RJFS) – the firm’s independent advisor channel – according to Alex David, Northeast division director for RJFS.

Custom Wealth Strategies (CWS) includes advisors David R. Burgio Sr., CPA, Michael Malaney, CFP^®, David M. Burgio Jr. and Mary M. McCafferty, CFP^®. They arrive from Commonwealth Financial Network, where they managed approximately $315 million in client assets, and specialize in serving high-net-worth clients, including executives, physicians, business owners and individuals living in or preparing for retirement.

“With Raymond James, we’ve joined a firm that approaches client relationships the way we do – with care, clarity and a long-term view,” said David Burgio Sr., president and founder of CWS. “That shared perspective alongside the firm’s robust technology, resources and support allows us to keep doing what we do best: guiding clients through important decisions and helping them stay on track toward their goals.”

David Burgio Sr. has worked in the financial services industry for over 31 years and founded CWS in 2011 before spending eight years affiliated with Commonwealth. He holds a bachelor’s degree in accounting from the State University of New York at Buffalo and is a Certified Public Accountant.

Malaney serves clients as a wealth planner and is a CERTIFIED FINANCIAL PLANNER^TM professional. A graduate of the University at Buffalo with a degree in financial analysis, he brings seven years of advisor experience, six of which were with Commonwealth.

David Burgio Jr. began his financial services career at Commonwealth in 2022 and serves clients as a wealth planner. He is a finance graduate of Canisius College and is currently pursuing his CERTIFIED FINANCIAL PLANNER^TM credential.

McCafferty brings more than 22 years of experience as a financial advisor to her role as a wealth planner with CWS. Her advisory career was preceded by roles in public accounting and as a financial controller in the private sector. She is a CERTIFIED FINANCIAL PLANNER^TM professional and a graduate of Canisius College.

The advisors are supported by Paraplanners Mary Lokken, CFP^®, and Kristine Zanner; Registered Associate Joseph L. Fecio, CFP^®; and Office Coordinator Valerie Conforti.

“It’s a pleasure to welcome the Custom Wealth Strategies team to Raymond James,” said David. “Their combination of deep experience, multi-generational perspective and strong commitment to client relationships makes them a natural fit for our growing advisor community.”

About Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation’s premier diversified financial services companies with financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.65 trillion as of July 31, 2025. Additional information is available at raymondjames.com.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Custom Wealth Strategies is not a registered broker/dealer and is independent of Raymond James Financial Services.

Raymond James and its advisors do not offer tax advice. You should discuss any tax matters with the appropriate professional.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.

Justin Mayfield
Raymond James Financial
727.567.2824

FAQ

How much in assets did the new Raymond James (RJF) advisors bring from Commonwealth Financial?

The Custom Wealth Strategies team brought approximately $315 million in client assets under management from Commonwealth Financial Network.

Who are the key members of the Custom Wealth Strategies team joining Raymond James?

The team includes David R. Burgio Sr., CPA (founder), Michael Malaney, CFP®, David M. Burgio Jr., and Mary M. McCafferty, CFP®.

What types of clients does the new Raymond James advisory team serve?

The team specializes in serving high-net-worth clients, including executives, physicians, business owners, and individuals living in or preparing for retirement.

Where is the new Raymond James Custom Wealth Strategies team located?

The Custom Wealth Strategies team is located in Depew, New York, joining Raymond James Financial Services' independent advisor channel.

What is David Burgio Sr.'s experience in financial services?

David Burgio Sr. has over 31 years of experience in financial services and founded Custom Wealth Strategies in 2011. He is a CPA with a bachelor's degree in accounting from SUNY Buffalo.