Continuing our “Ask Away” Advisor Spotlight Series!
In our featured “Ask Away” Advisor Spotlight Series, learn more about some exceptional LPL Financial advisors partnering with Financial Resources Group — incredible minds with interesting backgrounds. Discover their distinct insights, strategies, and personal stories that have fueled their success.
Each month, we’ll cast a spotlight on a different advisor, unveiling what makes them stand out in the competitive financial services landscape.
The series continues with Joe Pannarale, President and CEO, Diversified Wealth Solutions. Get to know Joe through this Q&A and be sure to watch the short video below where he personally introduces himself!
Q: What is your background?
A: I was born in Italy and come over to America at a very young age to live with our uncle in Chicago. My Dad a cabinet maker started with nothing and worked very hard to learn the language and make a life in the new world. My parents knew very little about investing but somehow managed to do very well for themselves. We returned to Italy many times to visit with family. I even lived there for a few years with my grandma and attended school while there. Therefore, making me bilingual with dual citizenship. When I attended College, I also returned to study in Rome and had the wonderful opportunity to travel all over Europe for the summer. After having visited over 17 countries I really feel that this has helped me connect and understand many cultures and understand different ways of thinking and living.
Q: What are your personal/unique interests?
A: I try to live each day bold with courage and passion and with belief in others and myself.
I like to wake up early and get a good workout at least 4 days a week. I accomplished a bucket list of mine by running the Chicago marathon in 2022. We have been fortunate to travel to many wonderful places with my family as a whole and grateful to be a part of each other’s journey. I try to remember that life is 10% what happens to me and 90% how I react to it.
Q: How did you enter into the Financial Planning space?
A: When I graduated from Illinois state with a double degree in Finance and International Business, I was fortunate to land a job with The Northern Trust in Chicago as a Senior Portfolio analyst. Having witnessed firsthand where very large foundations, trusts and pensions were investing their money and watching it grow day by day I knew immediately I wanted to be on the front line teaching everyday people about various investments and how they too can invest like the wealthy do.
I soon thereafter accepted a position inside a bank as a financial advisor meeting with everyday people. For over 20 years I would work as an advisor in a bank to help create many personalized financial strategies with individual client goals in mind.
Q: What is the driving force behind your passion for financial planning?
A: Remembering how little my parents understood stocks, bonds and investments in general. I wanted to be that person to educate clients on the various types of investments and identify the ones that best support their individual objectives and goals and then help them monitor their strategies regularly making adjustments when necessary.
I believe in the “Advice for Life” approach using a comprehensive three step process designed to help identify your needs, implement your strategy and monitor it regularly to help you stay on course. In ongoing dedication to my clients, I have successfully completed the LPL Financial Annuity & Insurance Leaders Forum at the Wharton School University of Pennsylvania
Q: Who has influenced your career?
A: Jeff Osterman with FRG has been a good friend and somewhat of a mentor for me while I was working as a bank advisor. We spent many Saturdays’ working on ways to systematize my business, improve my business flow and perfect the client experience. So that each client received that same top-notch experience.
In 2014 the bank I had worked at for over 15 years had just sold and I was left with making the difficult decision to either stay with the new bank or venture off on my own. Having taken a page from Bruce Miller’s playbook, in 2014, I choose to establish Diversified Wealth Solutions, LLC as an independent firm through LPL Financial to ensure that I could provide personalized advice and always put my clients best interest first. I can’t thank the FRG team enough. Especially Bruce Miller, Christa Franse and Mark Stieve with helping me transition and start a new chapter in my life and all the help to grow my business. I’ve vowed to always help others as best I can and thank those who help me along the way. These days Kristen Vitale from FRG has been very hands on in helping with making sure we are up to date on policy and company changes. I can’t thank her enough for all the support.
Also, I’ve been working closely with Bill Brice from FRG and I appreciate how he has been instrumental in helping me acquire new practices thru mergers and acquisitions. Bill has also been working closely with my daughter Arianna, mentoring her, and helping place her with a firm looking for a young CFP successor. I feel very lucky to have someone with such talent on our FRG team.
Q: What distinct approach or strategy has contributed to your success?
A: At Diversified Wealth Solutions we focus on the client and the unique set of financial circumstances they face. Getting to know and understand each personal need allows us to create a customized wealth management strategy aligned with their short- and long-term objectives. And by building a lasting personal relationship we better are able to help our clients anticipate and plan for the future.
We use a client- centric process focused on pursuing specific milestones we create together. Our comprehensive, three step planning process is designed to help identify client needs, implement their strategy and monitor it regularly to help them stay on course.
Q: What’s your mission and promise?
A: We are committed to helping our clients pursue financial independence, plan for a successful retirement and prepare for a lasting legacy.
Meet Joe in this brief video below!
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC. Diversified Wealth Solutions, Financial Resources Group and LPL Financial are separate entities.
The opinions voiced are for general information only and are not intended to provide specific advice or recommendations for any individual. Any performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
