The Florio Wealth Management Group
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
The Florio Wealth Management Group provides pension consulting, financial planning and consulting, and primarily acts as a solicitor referring institutional and retirement-plan clients to third-party registered investment advisers. The firm discloses the ability to serve as an ERISA Section 3(38) investment manager for retirement plans and to offer wealth management services, although it currently does not directly manage client assets.
In practice the firm facilitates introductions to third-party advisers and receives referral or solicitation fees when a referred party establishes an advisory relationship, and it separately offers negotiable hourly or fixed-fee planning and consulting engagements. When retained for retirement-plan work, the firm may serve as a fiduciary with discretionary responsibility for establishing investment policy and selecting, monitoring, and replacing plan investment options.
What is noteworthy for an investment-manager category firm is the emphasis on retirement-plan fiduciary services (including acting under ERISA 3(38)) and the use of hourly/fixed fees and referral-based revenue rather than relying solely on percentage-of-assets fees as the primary business model. The brochure also discloses brokerage and insurance affiliations for firm principals and describes policies and disclosures intended to address the resulting conflicts of interest.
Client services
Expertise
Fee options
Fixed fees range from $2,500 to $50,000 for financial planning and consulting services
$0 - $1,000,000: 1.25% $1,000,000 - $2,500,000: 1.00% $2,500,000 - $5,000,000: 0.90% $5,000,000+: 0.80%
Securities brokerage services and insurance products offered under separate commission-based arrangements; commissions and trail fees received by registered representatives
Hourly fees range from $200 to $500 per hour
Minimum fee: Fixed fees ranging from $2,500 to $50,000; Hourly fees ranging from $200 to $500 per hour Fee-only: Fixed fees from $2,500 to $50,000; Hourly fees from $200 to $500 per hour
Main office
1025 Old Country Road, Suite 312
Westbury NY 11590
Advisors at this office
2
Most active in
New York
Also doing business as
Psf Financial Services, Inc. · The Florio Wealth Management Group
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
Advisors at this firm
Steven F
ChFC®, Series 63
Westbury, NY
The Florio Wealth Management Group
Steven Florio is a financial advisor with The Florio Wealth Management Group in Westbury, NY. He holds the ChFC® and Series 63 designations and has 13 years of industry experience. Prior to his current role, he worked nine years at Mass Mutual Investors Services and has been associated with MassMutual Life Insurance Company since 2012. In addition to advisory services, he is also active as an agent in life, health, group life, and group health insurance. The Florio Wealth Management Group provides pension consulting and financial planning services, primarily serving institutional and retirement-plan clients through referrals to third-party registered investment advisers. The firm focuses on retirement-plan fiduciary services under ERISA Section 3(38) and offers fee-based planning and consulting arrangements rather than relying mainly on asset-based fees.
Peter F
ChFC®, Series 63
Westbury, NY
The Florio Wealth Management Group
Peter Florio is a ChFC® registered financial advisor with 36 years of industry experience. He is currently with The Florio Wealth Management Group, where he has served since 2017, and previously held roles at MML Investors Services, Inc. and Purshe Kaplan Sterling Investments. Florio also has involvement in insurance brokerage, including individual and group life and health insurance, as well as fixed annuities. The Florio Wealth Management Group provides pension consulting, financial planning, and acts primarily as a solicitor referring institutional and retirement-plan clients to third-party registered investment advisers. The firm offers fiduciary retirement-plan services under ERISA Section 3(38) and uses hourly or fixed-fee arrangements alongside referral-based revenue.
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