Biondo Investment Advisors, LLC (Biondo) was founded by Joseph R. Biondo (Joe) in March
2004. His son, Joseph P. Biondo (Joseph), joined Biondo in November 2004. Joseph serves as
Chief Executive Officer and Chief Investment Officer. Both also function as Biondo’s Portfolio
Managers along with Scott A. Goginsky, CFA®. The Biondo Group, LLC began managing the
Firm’s flagship Growth Strategy under Smith Barney in 1991. Biondo is wholly owned by The
Biondo Group, LLC. Joseph P. Biondo is the member manager of The Biondo Group, LLC.
Joseph R. Biondo, Karl A. Wagner III, Genevieve C. Sullivan-Cornell and Scott A. Goginsky are
members.
Biondo provides investment supervisory services for approximately 93% of the Firm’s assets
under management. "Investment supervisory services" means the giving of continuous advice
as to the investment of funds on the basis of the individual needs of each client. Biondo
manages separate accounts on a discretionary, fee-for-service basis as a percentage of assets
under management. Portfolio Managers have authority to determine, without specific client
consent, both the specific securities and the dollar amount to be bought or sold. Discretionary
accounts are generally Wrap Fee Accounts unless other arrangements are made. Please refer
to Appendix 1, Biondo’s Wrap Fee Brochure, for more information on that program. As an
accommodation to clients, Biondo accepts non-discretionary accounts that represent 7% of
Biondo’s assets under management, as well as advisory-only relationships, in which the Firm
provides advice or other advisory services, but has no trading capabilities. Advisory-only
assets are not included in the Firm’s assets under management, but represent 2% of the
Firm’s total assets under advisement.
The type of investments on which Biondo offers advice includes:
• equity securities (exchange-listed, over-the-counter, and foreign issued),
• warrants,
• corporate debt securities (other than commercial paper),
• commercial paper,
• certificates of deposit,
• municipal securities,
• mutual fund shares,
• United States governmental securities,
• options contracts on securities, and
• insurance and fixed annuities.
Biondo does not call its supervisory services or investment management “financial planning”
but rather offers financial planning services under a separate program for a fee and considers
these additional services as a means to assist in the development of a diversified portfolio and
investment plan. Launched in early 2019, Biondo offers two types of financial planning
services; “Foundation” and “360.”
“Foundation” service focuses primarily on general financial planning which includes but is not
limited to:
• establishing and identifying client priorities and goals,
• developing personal financial statements,
• performing time value money calculations,
• discussing and evaluating debt management and protection planning
strategies,
• establishing and determining risk profiles,
• discussing potentially
appropriate investment vehicles and strategies and,
• communicating planning results and recommended actions.
The “360” service topics include:
• General Principles of financial planning (listed above)
• Education Planning
• Risk Management and Insurance Planning
• Investment Planning
• Tax Planning
• Retirement Savings
• Income Planning
• Estate Planning
“360” clients have more complex financial planning scenarios and require more hours,
analysis and research. “360” is reserved for clients who have a minimum net worth of $2.5
million OR $1 million of investable assets and request various scenarios and analyses of their
assets.
Each client is provided with an electronic copy of their balance sheet and net worth
statement, prepared at the time of the service. Recommendations and a secure client portal
to access their plan and aggregate their accounts is also provided in this service.
Biondo Investment Advisors, LLC will waive all and/or refund financial planning fees described
above for clients who are participating in Biondo Investment Advisors Managed Account program.
Biondo Investment Advisors, LLC (Biondo) offers investment advisory services for a fee,
generally based on the assets under management. A conflict may exist when recommending
an investment manager due to this fact. Biondo Wealth Services, LLC (BWS), an affiliate of
Biondo, offers insurance and fixed annuities, which may also create a conflict. Clients will be
advised of any other conflicts should they arise.
Biondo tailors its advisory and financial planning services to the individual needs of clients by
reviewing a client’s personal information, goals and risk tolerance before the client enrolls in
any sponsored program. Biondo’s Investment Advisory Agreement includes a disclosure
statement, and a financial and suitability questionnaire that all potential clients are asked to
review and complete. An analysis of this information is combined with data obtained from the
resource tool, Riskalyze, to determine whether a client’s portfolio should be aggressive,
moderate or conservative. Clients may impose certain restrictions on investing in particular
securities. Clients are requested to inform Biondo of any changes in the information provided
at account inception, and an investment strategy questionnaire is sent out annually.
Biondo participates in Wrap Fee Programs by providing portfolio management services.
Biondo manages wrap fee accounts in the same way as other discretionary client accounts.
The fee schedule for management of wrap fee accounts is different. Biondo receives the wrap
fee for its services. A full description of fee calculation and compensation is explained below.
As of December 31, 2023, Biondo managed 1,133 accounts totaling $858,425,514 on a
discretionary basis.
Biondo also advises accounts on a non-discretionary basis, totaling $68,621,728 as of
December 31, 2023.
Biondo’s advisory-only assets totaled $22,374,608 as of December 31, 2023, and are not
included in the Firm’s assets under management.