High Probability ADVISORS


We are a seasoned team of investment professionals that have worked for decades in the pursuit of investment success. We have experience with thousands of diverse clients, managing billions in assets for high net worth investors, multi-generational families, not-for-profit endowments and foundations, businesses and retirement plans.


MEET THE TEAM:

STEPHEN J. CARL

STEPHEN J. CARL, CHIEF EXECUTIVE OFFICER

Steve has a role in every vital function at High Probability Advisors. He leads our efforts in client services, operations management, corporate strategy, and regulatory compliance. He is also a member of the firm’s investment committee. He started his career as a practicing attorney over 25 years ago focusing in the commercial, corporate, and banking areas, but then moved in-house, becoming the Corporate Counsel for a large SEC Registered Investment Advisor, with affiliated mutual fund family, trust company and broker/dealer firm. With that broad based legal & investment industry experience, Steve moved to another SEC registered RIA, Clover Capital Management, in 2000 to become its Chief Operating Officer and eventually its President. Clover was acquired by a large public company in 2008. Steve continued with the new firm through the end of the deal transition period in 2014. After leaving Clover, Steve started other successful privately held businesses.


Steve shares the mission of everyone at HPA to truly help investors navigate the volatile markets and the investors’ own reactions to the volatility to a more successful outcome. Through HPA’s investment focus of implementing an academically supported investment approach, along with sound investment advice and industry best practices, Steve fulfills his personal goal to help clients reach their full financial potential by positioning them for the highest probability of success that we can, helping them stay on course and avoid the common pitfalls of investing.


Steve is active in several not-for-profit organizations and serves on a few Boards of for-profit companies. He is a member of the Rochester Philanthropy Council for the University of Rochester, active member of Young Presidents’ Organization (YPO) and Board Member of YPO Northeast U.S. Region Executive Board. He is also a Director and Member of Executive Committee for Seagate Alliance, Inc, a for-profit company, a general purchasing group, as well as for Operation Brain Freeze, LLC, which owns multiple restaurants.

MICHAEL E. JONES

Michael E. Jones, Chief Investment Strategist

At HPA, Mr. Jones is focused on all aspects of the investment process, including asset allocation, investment selection, and portfolio construction. He comes to the job with over 30 years of investment experience. After 5 years as a research analyst and portfolio manager, at another investment firm, he left to co-found Clover Capital Management, Inc. where he helped build a 25-year track record of success for client portfolios of more than $2.5 billion. Clover was acquired by a large public company in 2008. Mr. Jones stayed on with the merged firm for a few more years before taking a break in "early retirement." In 2012, Mike and his co-founder, Geoff Rosenberger, were inducted to the Rochester Business Hall of Fame. Now he's back in action and looking forward to applying his perspective and experience on behalf of HPA's clients.


From his educational background in the sciences, Mr. Jones gained a strong appreciation for research and analysis as an integral part of the investment discipline. He closely monitors the ongoing academic developments in investment theory, and his efforts have always embraced sound, evidence-based approaches. Through the years, he has noted that financial theory alone doesn't get the job done. Too many times, emotional responses to real-world events caused investors to make poor decisions which destroy long-term investment returns. The destructive behaviors are observed among professional, as well as individual investors.


Mr. Jones has a long-standing interest in the field of behavioral finance. He has written numerous white papers on the subject, helping investors understand and avoid different pitfalls. His white papers on the structure of investment returns, behavioral traps, and his commentary on extraordinary investment environments were widely anticipated among clients, friends, and the public. His views were often shared through appearances on television and radio programs including CNBC, Bloomberg TV and radio, CNNfn, MSNBC, and several local media outlets.


Additionally, Mr. Jones works with several not-for-profit organizations. He is a life trustee and member of the investment committee for the University of Rochester and a member of the investment committees of Keystone College and The Farash Foundation. Mr. Jones is also a director of Reef Consulting and Investments, LLC, a Florida-based partnership focused on private equity and real estate investments.

MICHAEL J. CICERO

MICHAEL J. CICERO, DIRECTOR OF PORTFOLIO RESEARCH & MANAGEMENT

Mike is our Director of Portfolio Research and Management responsible for asset allocation, asset selection, portfolio construction and ongoing monitoring of our investment strategies. He lends a unique perspective, combining his expertise in institutional fund management and alternative investments with significant experience delivering qualitative and quantitative investment platforms to financial consultants, sophisticated individuals and institutional investors.


Mike brings decades of experience within the financial industry to High Probability Advisors. Most recently, Mike was Vice President & Client Consultant at Genesee Valley Trust (GVT). His responsibilities spanned investment management, business development and client relations.


He was a member of the investment management team responsible for fund sourcing, evaluation and portfolio construction. Mike worked with current and prospective clients, including high net worth individuals, plan sponsors and charitable foundations, to aid in the identification and implementation of solutions to meet long-term financial objectives. Prior to GVT, Mike served in various capacities at John Hancock, State Street Bank, Channel Capital Group and eVestment, in Boston and New York City. Throughout his career, he has operated within entrepreneurial high tech environments leading efforts in portfolio construction, due diligence, investment research, product development, client service, sales, marketing, operations and business strategy.


Mike earned his B.A. in Economics from Hobart College and M.B.A. with a focus in Finance from the Simon School of Business at the University of Rochester. He holds the Chartered Alternative Investment Analyst designation and is a member of the Chartered Alternative Investment Analyst Association.


Within the community, Mike is actively involved with multiple not-for-profit organizations. He is a Trustee, Executive Committee member and Chair of the Investment Committee at The Strong National Museum of Play. He also sits on the Board of Directors at Children Awaiting Parents (CAP) and is part of the Investment/Finance Committees.

Alicia R. Carter

Alicia R. Carter, Director of Operations

Alicia joined HPA as Director of Operations and will be primarily responsible for enhancing client experience. She will provide exceptional operational support and will act as a liaison between clients and custodial partners.


Alicia has more than twelve years of experience leading client and customer service efforts.  Before joining HPA, she served as a Client Operations Associate with LVW Advisors, a registered investment advisory firm. Prior to LVW Advisors, Alicia worked in industry as a Customer Service Specialist for over a decade at highly regarded organizations such as Gorbel, Allegion and VWR. Each organization provided a unique perspective on the importance of extraordinary customer experience, and Alicia became dedicated to understanding the profile of a customer and their day-to-day needs.


Working in multiple capacities with each organization, she has always been a strong customer advocate with a focus on building and maintaining relationships. Alicia is excited to make the client experience at HPA second to none.


Alicia graduated Summa Cum Laude from Keuka College with a B.S. in Organizational Management. She is very active within the Rochester running community and participates in charitable races to raise money and awareness for various charitable organizations.

Maureen J. Pilato

Maureen J. Pilato, CFP®, Vice President & Senior Financial Advisor

Maureen Pilato joined HPA as Vice President and Senior Financial Advisor.  Maureen works closely with our clients, helping them identify their goals and objectives leveraging the expertise at HPA to develop comprehensive strategies focused on achieving financial success and peace of mind for the clients.


After Maureen graduated from Villanova University, she returned home to Rochester to begin her career in Finance. Over the last 17 years, she has developed relationships with individuals, families, and organizations, recommending comprehensive strategies to meet their unique circumstances. Maureen spent several years at Tompkins Financial Advisors where she earned the CERTIFIED FINANCIAL PLANNER™ designation. She later worked as a Senior Financial Advisor and Director of Marketing at High Falls Advisors where, in addition to the financial planning and investment management services she offered to her clients, Maureen was also responsible for developing, coordinating and executing marketing initiatives for the firm.


Maureen lives in Fairport with her husband and two children. She enjoys supporting her son and daughter in their various activities, school events, and other interests, and volunteers her time to help as often as possible.

 

Cole C. Smith

Cole C. Smith, Research Analyst 

Cole Smith started with HPA in 2018 as a Research Analyst responsible for supporting the investment team with qualitative and quantitative strategy research, portfolio construction, ongoing risk management, as well as reviewing, collecting and citing articles for the firm’s research library.

Cole graduated Magna Cum Laude from Saint John Fisher College with a B.S. in Finance with a concentration in Financial Planning, as well as a minor in Philosophy and an interdisciplinary minor in Irish Studies. While at Saint John Fisher, Cole served as President of the Financial Planning Club and Vice President for college’s Investment Club. Cole also placed 2nd out of 1,000 contestants worldwide in the 2017 Spring Global ETF Challenge. He was a member of the college’s Honors Program, Dean’s list and is a current member of Beta Gamma Sigma; an international business honor society accredited by the AACSB and is eligible for students who graduated in the top 10% of their business class.


Before joining HPA, Cole worked previously in the industry for Rochester Wealth Management Group LLC, and for ESL Federal Credit Union. Cole actively volunteers in the community, in food donations for the Rochester community through Beta Gamma Sigma. He enjoys martial arts, running, and spending time with his friends and family.

 


 

Joseph E. Galantini

Joseph E. Galantini, Vice President, Client Relationships and Services

Joe Galantini joined HPA as Vice President of Client Relationships and Services. Joe is primarily responsible for new business development and building strong, long term relationships with HPA’s clients.

 

Joe brings over a decade of experience within the financial services industry to High Probability Advisors. Most recently, he managed a sales and client management team for an industry leading employee benefits company. Prior to the management role, he spent the majority of his career in a new business development capacity and was responsible for building effective relationships with broker partners to design, sell, and implement benefit solutions for business clients.


Joe began his career after graduating from the University of Rochester, where he earned a B.A. in Financial Economics with a certificate in Management Studies. Additionally, he holds his Life, Accident & Health insurance licenses. While at Rochester, Joe was a four-year member of the varsity football program where he played linebacker and is currently a member of the University’s George Eastman Circle.

Joe lives in Pittsford, NY with his wife Chelsea. He enjoys sports, being outdoors and is active within the fitness community.