VETTED

Damian Lombardi

Tel: 919-621-6709 309 Wade Drive Greenville, NC 27858

WE HELP YOU REACH FINANCIAL INDEPENDENCE

About Damian Lombardi

As my work experience indicates, I have demonstrated commitment to my client's goals. My track record is consistent in my career endeavors as well as in my life as a whole. I dedicate myself to whatever task is at hand. I marshal my resources and stay with the project/issue until it is completed to my satisfaction. Since my goals and demands are even more stringent than my firm's expectations, I consistently exceed quotas and objectives. I place my client's needs and preferences above my own.

Parallel Financial, LLC is a member firm of The Fiduciary Alliance, LLC, which is a registered investment adviser. More information about Parallel Financial can be found in Form ADV Part 2 which is available upon request. This website is for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security or other investment, or to undertake any investment strategy. Opinions expressed herein are solely those of Parallel Financial, LLC, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another party's informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation.

About Parallel Financial

Parallel Financial was co-founded by Anthony Mahfood and Brian Boughner in 2013. After experiencing the financial collapse of 2008 and seeing firsthand how the financial industry put their interests above their clients, Brian and Anthony decided to create an independent firm to ensure that their client's best interest would always be first and foremost. A few years after experiencing success with this strategy, they realized they were not alone and that other advisors longed for a place where they could take serve their clients with the freedom and flexibility to offer true unbiased advice. They created Fiduciary Alliance to meet that need and help these advisors transition out of the difficult situation they are in and provide them a platform that will give them flexibility, allow them to scale, and most importantly grow their practice. In 2024, Fiduciary Alliance (FA) has grown to a regional firm with $1.5 billion in assets, 1,921 clients, and 25 advisors. FA only works with clients who are growth minded and advisors who keep their client's best interest paramount.

See Disclosures

General Information

Firm Start Year:

2016

No. of Employees:

50-99 Employees

Name of Broker/Dealer:

Parallel Financial and Fiduciary Alliance are Registered Investment Adviser (RIA), not a broker-dealer

Name of Custodial Firm:

Charles Schwab / Fidelity Institutional

States Licensed in:

SEC firm is nationwide

Communities served:

Serving Greenville, New Bern, NC, and the surrounding areas. As the firm I work for is SEC registered, I serve clients nationwide.

Number of Years with Current Firm:

Work Experience:

Financial Advisor Parallel Financial · Full time June 2025 - Present (9 months) · Hybrid Greenville, North Carolina, United States Skills: Investment Advisory Services

Porter Investments July 2017 - June 2025 (8 years) Director of Client Services SE / Investment Advisor Representative Full time · Nov 2021 - Jun 2025 (3 years 8 months) Greenville, North Carolina, United States · Hybrid Client Relationship Manager / Investment Advisor Representative Full time · Feb 2020 - Jun 2025 (5 years 5 months) Houston, Texas

Investment Advisor Representative Jul 2017 - Jun 2025 (8 years) Houston, Texas Investment Advisor Representative Trainee Jan 2017 - Jul 2017 (7 months) Trained to become a Registered Investment Advisor Representative.

Network Security Engineer (Public Trust Position) Northrop Grumman Corporation Apr 2016 - Oct 2016 (7 months) Raleigh Durham Chapel Hill Area Cisco Identity Services Engine (ISE) Engineer

Verizon Business Network Engineer Jan 2007 - Jan 2016 (9 years 1 month) Cary, North Carolina

Telecommunications Technician Jun 2001 - Jan 2007 (5 years 8 months) Cary, North Carolina

Network Engineer Implementation Jun 1999 - Jun 2001 (2 years 1 month) Cary, North Carolina

Team Leader - Customer Service Jan 1994 - Jun 1999 (5 years 6 months) Cary, North Carolina

Work with the following types of clients:

Businesses, Individual Investors

Advisory Services Provided:

Investment Advice & Management, Estate Planning & Trusts, Insurance Products & Annuities, Financial Planning, Portfolio Management, Retirement Planning, 401K Rollovers, Wealth Management, Money Management, Risk Management, Education Funding and Planning, Financial Planning for Individuals, Financial Planning for Businesses, Tax Advice and Services, Legal Advice and Services, Financial Advice & Consulting

Services

Investment Types:

Exchange Traded Funds (ETFs), Mutual Funds, Bonds, Stocks

Can meet clients in the following ways:

Phone, Email, Your Office, Our Office, Video Conference, Our Offices, Your Home

Compensation and Fees

Fee Structure:

Fee-Only

Minimum Portfolio Size for New Managed Accounts:

$50,000

Compensation Methods:

Flat Fee

Additional Details on Charges:

We are a flat fee-based firm, and we do not charge commissions or any other hidden fees.

Firm Information

Firm's Number of Clients:

1921

Firm's Number of Planning Clients:

1921

Firm's Number of Managed Clients:

1921

Assets Managed by Firm:

1.5 billion

Advisor's Number of Clients:

Advisor's Number of Managed Clients:

Total Assets Under Management by Advisor:

$19,000,000.00

Preferred meeting methods

I provide a free initial consultation:

Yes

Education

BSBA - Business Management:

Geneva College - Beaver Falls, PA

1984 - 1992

Portfolio Management

Clear & Concise.

The financial services industry has fallen in love with complexity. However, complexity often leads to self-interest, high fees, and a lack of transparency. Our portfolios are clear & simple to understand. We start with a core of high-quality companies that generate sizable cash flow combined with diversified low-cost ETFs. We then add to it potentially higher growth tactical themes and investments. In building and managing portfolios we:.

Combine active and passive investment strategies Use low-cost & liquid investments Focus on minimizing taxes and transaction costs

We believe that simple rules-based strategies married with a risk management plan greatly improves our clients' chances of reaching their long-term goals.

Retirement Planning

When you choose me as your advisor, you'll receive complimentary, comprehensive retirement planning powered by our firm's advanced software.

401K Rollovers

We continually work with clients with 401(k) rollovers on a regular basis.

Wealth Management

We provide comprehensive wealth management services with ongoing portfolio management, as well as holistic financial and retirement planning.

Risk Management

CATASTROPHIC BEAR MARKET PROTECTION "The bull charges ahead, lifting markets skyward; the bear strikes rarely, then vanishes into hibernation." Parallel Financial differentiates itself from firms that follow the typical buy-and-hold approach (100% invested at all times) or market timers who swing between 100% risk-on (fully invested) and risk-off (all cash). Both strategies have significant flaws: buy-and-hold exposes portfolios to catastrophic bear markets, while market timers often miss major counter-rallies and the substantial year-over-year gains that typically follow a bear market. Parallel's Approach While we believe in remaining fully invested during bull markets, if the market experiences a catastrophic downturn similar to 2008, each position has a preset stop-alert level. For core holdings, if a stop-alert is triggered, we conduct a full fundamental review to determine whether action is necessary, which may include adding on weakness. For non-core satellite holdings, we will sell and either purchase another security or hold cash. Our investment process is guided by QRLT:

Q = Quality High-quality securities have a history of lower volatility Utilize S&P and Value Line to screen R = Rules Based & Risk Management A disciplined and rules-based process reduces emotional investing mistakes Core and Satellite approach with stop alerts Trend and sentiment analysis L = Liquid & Low Cost No trade commission on most positions Low-cost ETFs and individual stocks used for most core holdings Own only securities that can be easily sold T = Tax Sensitive Transition of legacy holdings Tax loss harvest Hold winners and sell losers

Education Funding and Planning

We guide our clients in selecting the best educational plans available in the state in which they reside.

Money Management

Staying On Track.

Reaching your long-term financial goals requires 3 things:.

A financial plan giving you a clear road map to your financial goals. A well-constructed and well managed portfolio. It's our job to provide that to you. The discipline to remain committed to your plan. We help with that too..

A recent 30-year investor behavior study showed the average equity return was 10.16% while the average investors return was only 3.98%. .

Poor investment decisions driven by emotions is the main reason investors fail to realize their investment goals. Greg Towner, CIO

Estate Planning & Trusts

I maintain relationships with qualified attorneys who can provide estate planning and trust services, including:.

>Wills >Revocable and irrevocable trusts >Powers of attorney (financial and healthcare) >Living wills and advance directives >Guardianship designations >Asset protection strategies >Planning to minimize estate taxes or probate >Trust administration

Tax Advice and Services

I maintain relationships with qualified insurance professionals who provide the following services:.

>Life insurance >Disability insurance >Long-term care insurance >Health insurance coordination >Liability protection (umbrella policies) >Business insurance (when applicable) >Evaluation of coverage gaps and costs >Matching insurance products to client needs and risk exposure

Investment Advice & Management

I provide the following investment advice and management services:.

>Suitability and fiduciary advice >Risk tolerance and risk capacity assessment >Selecting or recommending portfolios >Planning based investment recommendations >Advice regarding retirement accounts >Asset location guidance >Fund/ETF selection guidance >Financial plan integration >Guidance on employer-sponsored plans (401(k), 403(b), etc.) >Education on investment strategy

Financial Advice & Consulting

My firm and I provide the following Financial Advice and Consulting services:.

>Cashflow and budgeting analysis >Retirement income planning >Insurance and risk management reviews >Debt management >Tax efficient savings and withdrawal strategies >Education funding plans >Major purchase planning >Social Security and pension optimization >Coordination with estate planning, tax, and legal professionals

Annuities

As an advisor, I do not recommend or sell annuities. If a client insists on purchasing an annuity, members of my firm who handle insurance products will review various annuity options and recommend one that is appropriate for the client's goals and risk tolerance.

Insurance Planning

Financial Planning for Individuals

I provide the following financial planning Primary Goals:.

>Personal financial security >Retirement planning >Saving for education >Buying a home >Cashflow management >Debt reduction >Building and protecting wealth

Financial Planning for Businesses

I maintain strategic relationships with qualified business planning attorneys and leverage specialized financial planning software designed to help business owners enhance enterprise value and sustain operational stability. My advisory process integrates legal, financial, and strategic insights to support long term business success, with a focus on:.

>Cash flow management >Capital structure and financing decisions >Managing risk exposures (legal, operational, market) >Business continuity >Value creation for owners/shareholders

Disclosures

https://fiduciaryalliance.egnyte.com/fl/PX3h5tBjJc

Additional Detailed Disclosures

https://www.wiseradvisor.com/disclosure/1893374/wiseradvisor-parallel-financial-detailed-disclosure.html

Disclaimer

Testimonial Disclosure - Paid Parallel Financial is a member firm of The Fiduciary Alliance, LLC, which is a registered investment adviser. Advisor and its representatives are in compliance with the current filing requirements imposed upon SEC registered investment advisers by those states in which Advisor maintains clients. Advisor may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. Advisor's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of Advisor's web site on the Internet should not be construed by any consumer and/or prospective client as Advisor's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any testimonials or endorsements contained on this page or in videos may be given by current clients or non-clients and may involve compensation. In all cases, the Firm will comply with the rules established by the SEC and client disclosure requirements.

8 Years of Experience

CRD# 6823417 Firm CRD# 284924SEC File# 284924Series: 65

News & Events

Parallel Financial's Blog Posts + News Updates

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Compliance

Investment Advisor RepresentativeYes

Acknowledged fiduciaryYes

Compliance Disclosures in Last 5 yearsI have a clean record

Criminal Disclosures in Last 5 yearsI have a clean record