Petrella Wealth Management opens

STEUBENVILLE – At 26, Billy Petrella is where he’s always wanted to be in life.

Newly married, Petrella recently started his own financial consulting business.

“It was never a secret,” the Steubenville native said. “Since my early banking days at Sky Bank I knew I wanted to be a financial adviser and I knew I wanted to own my own firm.”

Petrella got his chance two months ago when Met-Life announced it was selling its brokerage units, Tower Square Securities and Walnut Street Securities, to the much-larger Cetera Financial Group. At the time he was working with another financial consultant. Because he was an independent contractor with Walnut Street, Petrella said the change meant he could go out on his own and move his clients over to his new broker-dealer, SCF Securities, with no fee or penalty. On May 7 he resigned from his old company, and the following day his license was transerred to SCF Securities.

“I just had to re-register my clients with the new firm,” he said, adding an industry consultant told him his attrition rate figures to be less than 5 percent.

Petrella added that SCF was just one of three companies that approached him, two of them with a written offer.

“They came to me, I didn’t contact them,” he added.

His new firm, Petrella Wealth Management, LLC, is already up and running out of a downtown office space, though he’ll be opening an office at 110 Lover’s Lane later this summer. He said his focus will be on “client interaction, serving my clients and educating them about what they’re investing in, what all the options are.

“It’s not always about being big, like Cetera or Walnut Street Securities,” he said. “It’s about building one-on-one relationships with clients and their families and continuing to build my practice through referrals.”

SCF is a non-leveraged, zero debt broker-dealer based in Fresno, Calif. The firm takes a conservative approach in an industry that often takes on too much risk, Petrella said.

“A lot of people just have questions about IRAs or annuities or investments, and they don’t know who to ask or they’re hesitant to ask,” he said. “I welcome all questions. I want to work with clients prior to them even having money to invest.”

Petrella studied business at Eastern Gateway Community College before transferring to Robert Morris University to complete his undergraduate degree work, graduating in 2009 with a bachelor’s degree in finance and international business. He completed his master’s degree in organizational studies with a concentration in employee relations at Robert Morris in 2012. He’d worked at the former Sky Bank for a time, then did a stint at a Pittsburgh brokerage firm before earning his securities license in 2009. He was a 2013 Qualifying Member of the Million Dollar Round Table, which is an international organization that awards those in finance who have exemplary ethical standards and production requirements.

He also has his own real estate holding company, C.William Industries, is involved in his family’s real estate holding company, Petrella Enterprises, and partners with his brothers in the Village Sleep Center, Steubenville.

“I am fortunate to be able to open my own wealth management firm in Jefferson County,” he said. “Because I was born here, educated here and I want to raise my family here. It also allows me to run my other local businesses. My family and I are happy to be in Jefferson County and are blessed to have the opportunities that have presented themselves.”

Petrella can be reached by calling his office, (740) 314-8240, his cell, (740) 632-0802, or by e-mailing