Rafalko Acquires Piedmont Independent Fiduciaries

July 21, 2011 (PLANSPONSOR.com) - Former managing director at Wachovia Securities, LLC and founder of Rafalko Investment Advisory, LLC Celia Rafalko has acquired Piedmont Independent Fiduciaries, a Virginia-based service provider. 

Founded in 2005, Piedmont offers investment and fiduciary risk management to 401(k) plan participants and sponsors. According to a recent press release, the firm’s headquarters will relocate from Lansdowne, Virginia, to Richmond, but the firm will maintain offices in northern Virginia and the greater Philadelphia area.  

Kevin O’Neill, senior vice president for business development and Amanda Dawson, client services director, with both stay with the firm.  

“By managing client assets, Piedmont can help plan participants attain better investment outcomes while also maintaining lower fees,” said Rafalko, in the announcement. “Piedmont has the experience and expertise to identify the risks carried by the plan sponsors, remediate them and, by acting as fiduciary, assume some of that risk while helping the participants get a better investment outcome.”  


-Sara Kelly