Philip Rongo, ChFC® CLU®

Philip Rongo, ChFC® CLU®

Managing Director


No different than many others, my family and I spent a great-deal of time conversing at the dining table.  In this case it was the breakfast table.  My Dad and I, both early risers, would have private-time together—which otherwise would have been difficult in our large family.  His favorite subjects beyond sports were saving and growing money.  He would profess the “miracles” of compound interest and the stock market, all the while hoping to trigger my interest.

Eventually the elder Mr. Rongo hit a nerve.  Luckily, the small town in which we lived did have a branch office of a bona-fide New York Stock Exchange member brokerage firm.

Inspired by these talks and being an adventurous fourth-grader, I decided to see for myself, and walked the two miles into our small down-town and paid an unannounced visit to the local brokerage firm.  To my good fortune, the manager was gracious enough to spend 15 minutes or so with me.  I remember as though it were yesterday, asking the manager “how would one know if they were cut-out for the investment business?”  The Managers reply still rings clear:  “if you can watch "Wall $treet Week with Louis Rukeyser "without falling asleep, you'll do just fine.”  Following the challenge of this manager, I did indeed watch Wall $treet Week, stayed completely awake, became fascinated, and decided what I wanted to do with my life.

I obtained my BS in International Trade and Economics at the State University of New York at Buffalo.  Then soon after, began my investment career at IDS Financial Services in 1992.  By 1995 the smaller firm was purchased by American Express Financial Advisors, where in addition to serving my clients, I became responsible for the oversight of 35+ financial advisors, approximately 25% of the advisors in our state.  In an effort to distance myself from the world of proprietary products, in 1997 I co-founded a small, independent investment firm and chose LPL Financial (Linsco-Private Ledger at the time) as custodian of our clients' funds.  Fast-forwarding to 2017, I still use LPL Financial as custodian of client funds, and with new friends and business partners, co-founded IBEX Wealth Advisors, LLC (founded 2014).

My clients are typically successful corporate executives, professionals and business owners.  I hold the Series 7, 24 31, 63 with LPL Financial and 65 securities registration with IBEX Wealth Advisors. I also serve clients in 19 states, and Europe.  One of the most valuable services I provide is an assessment of risk in the markets as it relates to clients' portfolios.  I am a proponent of sophisticated technical analysis, and relate this analysis to clients in understandable, plain English.  I have learned that “money leaves footprints”.  Through technical analysis of a financial vehicle, we can create strategies to help determine where that stock, ETF/mutual, or sector is likely headed, including fixed-income, currency and commodity markets.  This is the kind of effective financial planning/asset management and analysis for which most clients do not have the time, expertise, nor patience. 

Finally, I have earned the Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) professional designations from the American College.

 

Phone 973-538-7030