Leaving an industry commonly associated with greed in favor of a more compassionate one, Lou Giampa is trading in his job on Wall Street for one inside seniors”™ homes.
After some 15 years primarily as a portfolio manager for Quad Capital L.L.C. and First New York Securities L.L.C., Giampa said he was ready for a change. When his grandmother was diagnosed with cancer, Giampa took it upon himself to get a certificate in nursing and become one of her primary caregivers.
“When you start out on Wall Street, it”™s fast paced and exciting,” Giampa said. “But as I got older and had kids, I became disenchanted. I had a hollow feeling about it. ”¦ Like they say, it”™s just making rich people richer, and I started to contemplate a career change.”
After his grandmother died in February, Giampa said he accelerated plans to open his own home care agency to serve other seniors and their families. Surveying possible franchising options, he landed on Right At Home Inc. and purchased the rights to serve Westchester County.
The home care and assistance company has more than 300 locations across the country, including ones in the Bronx, Queens, Brooklyn and Connecticut. Opening a White Plains office in early March, Giampa already has five clients.
Giampa said he chose Right At Home primarily for its innovative programs related to rehabilitation and family involvement, among others. Additionally, the brand has a support staff of 40 employees based at its headquarters in Omaha, Neb.
“In-home care was a fantastic experience for my grandma,” Giampa said, mentioning his other grandmother died several years earlier in a nursing home. “I wish this kind of service was available for her. I think it would have prolonged her life. It”™s a traumatic experience to leave your home where your kids grew up.”
Giampa said he expects a slow and steady growth of clients over the next several years. The firm is not yet a licensed New York home care services agency, though he expects his application to be approved within the next two years.
Without the license, Giampa”™s employees can”™t offer assistance with hygiene or any skilled nursing services. Instead, his firm can offer companionship services like safety supervision, socialization, medication reminders, transportation, light housekeeping, grocery shopping, cooking and running errands.
“Things to make life easier for the caretaker,” Giampa said. “It helps seniors maintain a level of independence and helps give families peace of mind that someone is there checking in.”
Giampa said he charges within the industry average of $20 to $28 an hour. The average client requests three to five hours of care a day, though some request 24/7 care.
Giampa said he hopes to have 100 clients in 10 years, though he cautioned to say, “It”™s not a numbers game; it”™s a quality game.”
“More than having the greatest number of clients, it”™s about having the happiest clients,” he said. “It”™s very rewarding when someone gets good care.”
“I definitely feel a lot better about myself now,” he added. “It”™s gratifying work.”
