Our investment professionals have experience spanning more than two decades of market cycles and hail from a variety of backgrounds including research, trading, and portfolio management.
Chief Executive Officer
Bernard Garruppo is also a Partner and Managing Director of R. Seelaus & Co., Inc., the corporate parent of Granite Springs Asset Management, LLC. With R. Seelaus and over the past 20 years, Bernard has guided the expansion of both the firm and its client-base. As CEO of Granite Springs, and together with the executive team, he supports a vision for the firm focused on continually growing to meet the sophisticated investment needs of its clients. Bernard's career in finance began nearly 30 years ago as a municipal bond trader at Moore, Schley, Cameron & Company. Later, he joined W. H. Mell & Company where he focused on institutional sales and trading. Bernard graduated Temple University with a degree in Finance. He is licensed in life and health insurance through the New Jersey State Department of Banking and Insurance and holds FINRA licenses 7, 24, 27, 53, 63 and 65.
Managing Director, Corporate Bond Investments
Randy Masel began his career on Wall Street as a corporate bond analyst at Paine Webber, Inc., where he held several senior-level research positions and ultimately became the firm's Head of U.S. Credit Research. Prior to joining Granite Springs in January of 2014, Randy was a portfolio manager and credit analyst with JAE Credit Management. He also formerly held senior-level positions at Millenium Partners, Moore Capital Management, and James Caird Asset Management. Randy has more than 30 years of experience in the credit markets as a banker, credit analyst, and portfolio manager. Upon his arrival in 2014, Randy launched the high-yield corporate bond strategy. He serves as a key asset to the other financial advisors on the team in addition to running this portfolio.
Randy earned a Bachelor of Arts from Washington University in St. Louis in 1977 and an MBA from Harvard University in 1981.
Managing Director, Municipal Bond Investments
Tom Dalpiaz has over 30 years of experience in the municipal bond investment business. He started as a municipal bond credit analyst at Bank of New York, Merrill Lynch, and Weiss, Peck & Greer. Tom later transitioned from credit analysis to bond portfolio management and subsequently spent time working at Weiss, Peck & Greer, Sage Capital Management, Neuberger Berman, and Advisors Asset Management. In 2013, Tom joined Granite Springs as a managing director, tasked with overseeing bond portfolios for the firm's clients. In this role, he not only manages assets but also trades and researches the municipal bond market and regularly publishes a market commentary. Tom has had a series of articles published in Forbes and is the author of “Managing Municipal Bond Portfolios For High-Net-Worth Investors,” a chapter found in The Handbook of Municipal Bonds by Sylvan G. Feldstein and Frank J. Fabozzi.
Tom has a Bachelor of Arts in History and an MBA in Finance from Hofstra University. He holds FINRA licenses 7, 24, 63, and 65.
Managing Director, Investment Grade Corporate Bond Investments
Mr. Klein, who has nearly 30 years of industry experience, is the Lead Portfolio Manager for the Granite Springs Total Return Fund. Previously, Mr. Klein served as the President and Chief Investment Officer of Citation Advisors, LLC, a subsidiary of Mitsubishi Corporation Asset Management. Prior to Citation Advisors, he served as a Senior Managing Director, Lead Portfolio Manager, and member of the Executive Committee at Aladdin Capital Holdings LLC, where he managed credit assets including the Citation Funds. Prior to Aladdin, Mr. Klein was a Managing Director at Dresdner Kleinwort LLC. As the head of credit asset management in the U.S. (2004-2008), he directed a group that managed a multibillion dollar portfolio of long/short proprietary assets. From 2001-2003, he was the head of credit flow trading in the U.S. for Dresdner. Mr. Klein has also worked at Paine Webber International Ltd., Oppenheimer & Company Inc., and Salomon Brothers Inc., where he held various credit trading and management roles. Mr. Klein holds a bachelor’s degree in Government from Cornell University.
Senior Vice President
Raphaella Eliseo joined Granite Springs in March of 2010, bringing with her more than 20 years of experience working with private clients and institutional investors. Raphaella manages the the firm's administrative operations, including portfolio accounting and performance reporting, and ensures that Granite Springs complies with the CFA Institute's Global Investment Performance Standards (GIPS®). Prior to joining Granite Springs, Raphaella was a sales assistant at Brown Brothers Harriman & Co. for 7 years and a portfolio administrator at Williams, Jones & Associates for over 15 years.
Raphaella earned an Associate of Science degree in Business Administration from Kingsborough College.
Investment Advisor Representatives
Senior Vice President
Joe Felicetti began his career as an accountant with Smith Barney in 1983. While working full-time during the day, he attended night school at Fordham University. Since then, Joe has specialized in working with retirees and their heirs to protect their principal and ensure that their money lasts. He joined R. Seelaus & Co. in June of 2002 and Granite Springs in January of 2013. His practice focuses on retirement distribution and estate planning. Joe formulates retirement planning strategies with Ed Slott & Co. and is a member of Ed Slott’s Elite IRA Adviser Group.
Joe graduated from the Gabelli School of Business at Fordham in 1987 with a bachelor’s degree in Public Accounting & Finance. He holds FINRA licenses 7, 63, and 65.
Senior Vice President
Mary Parker has over 27 years of experience in the financial services sector. Before joining R. Seelaus & Co. in September of 2006 and Granite Springs in January of 2013, she was the first woman to be named to the management team within the municipal bond department at Merrill Lynch. Mary served as Vice President and Manager of Merrill's Northeast Municipal Bond Region, operating as a trader and underwriter of new issues. From there, Mary moved to McConnell, Budd & Romano in Morristown, NJ, a private investment banking and financial advisory firm, to concentrate on the banking and thrift sector. She helped the firm start a high-net-worth group responsible for over $40 million in client assets, while simultaneously managing equity trading in over 70 NASDAQ stocks.
Mary is a graduate of St. Lawrence University with a degree in Economics. She is licensed in life and health insurance through the NJ State Department of Banking and Insurance.
Mary is a member of the Summit YMCA Advisory Board and a member of the Summit Business and Professional Women of New Jersey organization. She is also on the Board of Trustees for the Greensboro Association and Board of Directors for the Mountain View Country Club.
She holds FINRA licenses 4, 7, 24, 53, 55, 63, and 65.
Executive Vice President
Paul Stierhoff has over 30 years of experience in the investment industry. As a CERTIFIED FINANCIAL PLANNER™ (CFP®) practitioner since 2003, Paul brings a wealth of knowledge and portfolio management expertise to his clients, working with high-net-worth individuals, families, business owners, corporations, and non-profits. Paul got his start in Merrill Lynch's futures division, before transitioning to roles offering more traditional investment services elsewhere on the street. He joined R. Seelaus & Co. in March of 1993 and Granite Springs in January of 2013. In 2013, 2014, and 2015, Paul was recognized as a FIVE STAR Professional Wealth Manager in New Jersey.
Paul is also active in charitable and philanthropic pursuits. He volunteers with Furniture Assist, an organization that provides furniture and household items free of charge to families with recognized needs. He is a trustee of the Henry S. & Agnes M. Truzack Foundation, a private charitable foundation that makes grants to worthwhile non-profit organizations. Paul also sits on the advisory board for the Drew University Center for Civic Engagement. Paul has been active in community as both a lacrosse and soccer coach and enjoys playing masters lacrosse in his spare time. He currently resides in Westfield, New Jersey with his wife and three children.
Paul holds FINRA licenses 7 and 63