Updated:
Palumbo Wealth Management
Palumbo Wealth Management opened in 2019 at 1010 Northern Boulevard in Great Neck, New York. Founder Philip Palumbo built the practice around the personal...
Palumbo Wealth Management
Palumbo Wealth Management opened in 2019 at 1010 Northern Boulevard in Great Neck, New York. Founder Philip Palumbo built the practice around the personal chief financial officer model, explicitly targeting business owners navigating the concentrated risk that comes with a privately held company. The firm states its team carries CFP, CFA, and Certified Exit Planning Advisor designations alongside MBA training. The practice spans portfolio management, tax planning, estate and trust structuring, asset protection, and private banking facilitation. Its most differentiated capability is the business-exit sequence: pre-sale preparation, transaction strategy, capital gains management, and succession arrangement, tailored for CEO founders approaching a liquidity event. Geographic focus is the tri-state New York metropolitan area, with no disclosed offices beyond the Great Neck headquarters. The firm describes a structured communication cadence: bi-monthly check-in calls, quarterly reviews, two annual in-person meetings, and weekly market observations delivered by email. The firm has not publicly disclosed assets under management, total client count, or staff headcount. Its website describes a client service model anchored by direct access to the founder and a five-step consultative process that inventories gaps across life and financial goals. Philanthropic structures, external co-investment vehicles, or membership in peer networks such as Tiger 21 or YPO are not mentioned in available sources. Palumbo's structural distinction is the concentration of CFP, CFA, and CEPA expertise inside a single-advisor practice, rather than spreading those functions across a large advisory team. The model is built for the founder-led firm itself: continuity risk sits with Palumbo personally, and the architecture does not signal a multi-generational advisory platform or a partnership track for junior professionals.
General information
Firm type
Bank / Wealth / Trust
Year founded
2019
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Great Neck
Corporate office
1010 Northern Blvd., Suite 310, Great Neck, NY 11021, United States
Principals
Philip Palumbo
Founder
Frequently asked questions
Who makes investment decisions at Palumbo Wealth Management?
The firm's website positions founder Philip Palumbo as the sole decision-maker, listing only his credentials — CFP, CFA, CEPA — alongside an invitation to book a strategy session with him directly. No investment committee, CIO, or additional advisor names appear in available sources, which is consistent with a single-founder registered investment advisory practice. The organizational structure suggests portfolio construction and client decisions run through Palumbo himself.
Does Palumbo Wealth Management operate as a multi-family office or a traditional wealth manager?
Palumbo Wealth Management operates as a registered investment advisor, not a multi-family office. While it provides services that overlap with family office functions — estate planning, family governance education, tax strategy — the firm does not claim to hold trust powers, offer consolidated family-office reporting for multi-generational families, or maintain the dedicated in-house legal and tax staff typical of an MFO. Its model is best described as a personal CFO practice layered on an RIA chassis.
What is Palumbo Wealth Management's approach to business exit planning?
The firm offers a sequenced exit-planning service covering pre-sale preparation, transaction strategy, tax optimization, capital gains management, and estate structuring. Founder Philip Palumbo holds a Certified Exit Planning Advisor designation, and the firm's marketing frames the entire wealth-management proposition around helping CEO founders transition from an illiquid operating business to a diversified portfolio. The process includes liquidity strategy and succession arrangement, though the firm has not published case studies or transaction volumes.
How does Palumbo Wealth Management charge for its services?
Palumbo Wealth Management does not disclose its fee schedule on its public website. As a registered investment advisory firm serving individuals, high-net-worth individuals, and businesses, it likely charges asset-based fees or flat retainer fees for financial planning and portfolio management. The firm invites prospective clients to schedule a strategy session; specific fee structures and minimums are not published.
Which asset classes does Palumbo Wealth Management access for clients?
Available sources do not enumerate specific asset classes the firm invests in. The website references investment planning and portfolio management alongside private banking and credit facilities, suggesting a mix of publicly traded securities, fixed income, and bank-sourced structured credit. There is no mention of direct private equity, venture capital, hedge fund commitments, or real asset allocations in current disclosures.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on registered investment advisers?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: