HOLBROOK, N.Y. (Aug. 22, 2019)—American Portfolios Financial Services, Inc. (AP)—a privately-held, independent broker/dealer that services financial advisors nationwide—is pleased to announce that Craig A. Vollono, Esq. has joined the firm in the capacity of executive vice president and chief legal counsel.
“As American Portfolios continues to grow, it’s vital that we maintain a strong legal department in order to help us navigate through the intricacies of the financial services industry,” states AP CEO, CIO and President Lon T. Dolber. “Craig’s vast professional experience and proven track record make him an excellent fit for our firm and the community of investment professionals we serve.”
Facilitating Vollono’s transition is AP’s retiring EVP and General Counsel Frank A. Tauches Jr., who will perform duties as an in-house supervising principal, as he had done within his previous role. Tauches, who served as AP’s president from 2006 to 2008 and as EVP and general counsel for 15 years, was instrumental in helping seek his successor. “I’m greatly impressed with Craig’s sensitivity for and understanding of the needs and propensities of financial advisors,” states Tauches. “He possesses a keen understanding of the current issues facing the financial services industry, along with a thoughtful consideration of the evolution it has gone through.” Notwithstanding the bullish market that has existed over the last decade, Vollono’s experience dealing with market downturns equips him for whatever turn(s) the market may make in the near or distant future.
In his role, Vollono is responsible for overseeing the legal, compliance and supervision areas of the firm, as well as all legal issues that affect the independent broker/dealer and its registered investment advisory firm, American Portfolios Advisors, Inc. (APA). This responsibility includes, but is not limited to, the handling and review of contracts, litigation, arbitrations and regulatory requirements. Vollono also provides advice on Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), state regulatory agencies, National Futures Association (NFA), and Commodity Futures Trading Commission (CFTC) rules and regulations as they pertain to broker/dealer activities. He will also represent the firm at industry organizations, such as the Financial Services Institute (FSI) and the Financial Planning Association (FPA).
Vollono brings with him nearly 20 years of legal expertise. Prior to joining AP, he served as director and associate general counsel for UBS AG, a global organization that provides financial services in over 50 countries. In his former role, Vollono represented the firm and its individual representatives, as well as managed outside counsel, in litigation and arbitration proceedings before FINRA, SEC, and federal and state courts, as well as managed the firm’s prosecution of expungement matters. Earlier in his career, Vollono served as litigation counsel for AIG Advisor Group, Inc. and Merrill Lynch, Pierce, Fenner & Smith, Inc. Vollono earned his Bachelor of Arts in communications in 1999 from Boston College; received his Juris Doctor in 2002 from Boston University School of Law; and is a member of the New York State Bar Association.
About American Portfolios
Headquartered in Holbrook, N.Y., American Portfolios Financial Services, Inc. (APFS) is a full-service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology entity American Portfolios Advisory Solutions, LLC, collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently serves 847 independent investment professionals located in 392 branch locations throughout the nation. It was named Broker-Dealer of the Year* (Division III) by Investment Advisor magazine in 2015, 2016, 2017 and 2018, as well as one of the Best Companies to Work for in the state of New York for 2016, 2017, 2018 and 2019 by the New York State Society for Human Resources Management (NYS-SHRM) and the Best Companies Group (BCG).
*Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded “Broker/Dealer (B/D) of the Year.”