 In 1992, with Michael Cosack, he co-founded Spagnola-Cosack, Inc., an independent investment consulting firm that serviced Public, Taft-Hartley, Corporate, Hospital, Endowment, and Foundation Funds.Over a ten-year period the assets under advisement grew to over $3.5 billion.In 2003 Spagnola-Cosack, Inc. was acquired by Public Financial Management, a financial advisory firm located in Philadelphia, Pennsylvania.