Scroll Top

Headquartered in Washington, DC with advisers across the US, our staff takes great pride in providing our clients with an extraordinary experience. Our team shares a deep passion for supporting our nonprofit & association clients in being effective stewards of their investments.
WHo We Serve

Since day one, we’ve served the investment and fiduciary needs of nonprofits.  Reach out today to see why over 130 nonprofit organizations choose to work with Raffa Investment Advisers.

Click here to learn more about our services for nonprofits.


RIA’s core business is serving the investment and fiduciary needs of associations. With over 90 association clients, we take great pride in being leaders in the association investment management space. We are an approved adviser through the American Society of Association Executives’ Investment Center and our staff are committed to being leaders in the association community.

Click here to learn more about our services for associations.


RIA offers investment advisory services for families and individuals. Our focus is comprehensive portfolio management, retirement income planning, and straightforward reporting.

By developing a clear investment plan, we aim to provide the information needed for you to know where you stand in relation to your financial goals.

Click here to learn more about our services for individuals and families.

Our knowledgeable cross-functional team ensures that our clients receive a thoughtful, prompt response whenever they reach out. Our proactive client service model focuses on giving you the attention you deserve. Contact us today and get to know the team!
LEadership & Staff


Raffa Investment Advisers is owned by two principals, each of whom is an original founder: Tom Raffa and Dennis Gogarty.  Mr. Raffa is not involved in RIA’s daily operations or investment advisory considerations.

Tom Raffa, CPA
Co-Founder and Principal (Raffa Investment Advisers), Previously the National Leader of the Nonprofit and Social Sector Group (Marcum, LLP - Retired)
Dennis P. Gogarty, CFP®, AIF®
President, Principal, Co-Founder


Our team of experienced staff is committed to making every interaction you have with us extraordinary.  Meet the team below.

Mark P. Murphy, CFA
Chief Investment Officer
Ryan Frydenlund, CIMA®, CIPM
Director of Operations
Joe Guest, CIMA®
Senior Portfolio Manager
3 cropped
Matt O’Lone, CIMA®
Portfolio Manager
Samantha Pnazek
Client Service Manager
Michelle Heery Headshot
Michelle Heery
Operations Associate

Ready to work with an adviser who knows NONPROFITS & ASSOCIATIONS?

Book time with one of our experienced advisers today!