Bridge Investment Services, a wholly owned subsidiary of Bridgehampton National Bank (BNB), has changed its name to Bridge Financial Services (BFS) to better reflect the scope of its work. BFS professionals work with branch managers across the BNB network providing financial advice and investment guidance under an agreement with American Portfolios Financial Services, Inc. and American Portfolio Advisors, Inc. BFS also added three new professionals, Robert J. Rosetti for the South Branch. market, Michael J. Desmond for the Western Long Island and New York markets and Steven J. Frascatore for the Southern Nassau market.
“Our focus has become increasingly advisory, and this name change reflects that,” said William Araneo, vice president, director of BFS. We encourage our clients to look beyond products to develop a plan that will help them financially address every phase of their lives, from wealth accumulation to wealth transfer. We are very pleased to expand our team to provide our customers with better accessibility to information and professional advice. Robert Rossetti, Michael Desmond and Steven Frascatore bring their experience and knowledge to the markets they serve.
Bridge Financial Services offers BNB clients at all levels, from low to high net worth individuals and businesses, local access to qualified investment professionals. Customers also come to BFS from the community at large. The company recently added more risk management products, including insurance, to help address issues such as income replacement. BFS professionals work with several branches and are available for consultation by appointment.
Founded in 1910 by farmers and traders, BNB has grown dramatically over the past five years to over $2 billion in assets, with 29 branches in Suffolk and southern Nassau counties and offices loan to Riverhead and New York. It is ranked among the best community banks in the country by American Banker Magazine (April 2014). In addition, title insurance is offered by Bridge Abstract. BNB has a historic reputation for active engagement and support of the nonprofit community in the markets it serves.
The securities are offered under an agreement with American Portfolios Financial Services, Inc. (APFS), member FINRA/SIPC. Advisory services offered through an agreement with American Portfolios Advisors, Inc. (APA), an SEC-registered investment adviser. Bridge Financial Services is a wholly owned subsidiary of Bridgehampton National Bank and is also not an investment dealer, SEC-registered investment adviser, and/or affiliated with APFS or APA.
Robert J. Rossetti, Senior Registered Representative
Financial Services Bridge, South Fork Market
Rossetti brings over 35 years of financial services experience to BFS. A CW Post graduate with a BA in Commerce and an MBA in Finance from Long Island University, his successful career included 14 years managing mutual funds for Morgan Stanley, Prudential Securities Investment Management as a Portfolio Manager over 200 clients, working for Merrill Lynch as an analyst and as vice president of investment management for SwissRe Advisors, Inc. (NYC). He is a Chartered Financial Analyst and Instructor at the New York Institute of Finance. Mr. Rossetti holds New York State Insurance Licenses Series 66, 63 and 7. He is a member of AIMR (NY Society of Security Analysts and Market Technicians) as well as the Knights of Columbus and Southampton Chamber of Commerce. Additionally, he is treasurer of the Little Peconic Yacht Club in Southampton, New York. He is a resident of Southampton.
Michael J. Desmond, CIMA, AIF, MBA, Senior Registered Representative
Bridge Financial Services, Western Long Island and NYC Market
Desmond is recognized as a comprehensive wealth advisor for the wealthy. Most recently, he was employed by Sterling National Bank where he ran the NYC/Long Island Wealth Management division. Previously, he helped establish the wealth management platform for the Herald National Bank for the New York metropolitan area. He also managed a large portfolio for a division of Mellon Financial Corporation. Mr. Desmond holds an MBA in Banking and Finance, graduating Summa Cum Laude from Dowling College. He received his bachelor’s degree in marketing from the University of Plattsburg. Mr. Desmond earned the Certified Investment Professional/Trustee designation from the University of Pittsburgh. He is a member of the Investment Management Consultants Association and a Certified Investment Management Analyst from the Wharton School of Business. He resides in Nesconset, New York.
Steven J. Frascatore, Registered Representative
Bridge Financial Services, Nassau South Market
Frascatore has 20 years of experience in the banking and financial services industry, having held positions as a financial planner at Gilman and Ciocia Inc, an investment coordinator at Bank of America and, most recently, a branch manager for HSBC. In addition to joining Bridge Financial Services, Mr. Frascatore is also a Branch Manager of the Massapequa Branch of Bridgehampton National Bank. Mr. Frascatore studied business before being drafted by the St. Louis Cardinals in 1993. After several seasons with the Cardinals, Mr. Frascatore began his career as a financial planner in New York. He is a Certified Tax Preparer with the IRS and holds New York State Insurance Licenses, Series 7, 63, Life, Health, and Variable Annuities. He resides in Wantagh, New York.
Source: Press release issued by Bridge Investment Services, 20 November.
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