About Us::Who We Are

Walter Grenda, Jr., President, RFC,

Walter Grenda Jr. founded Reliance Financial Group (RFG) in 1986 to provide independent, unbiased financial planning advice and council. Seeing a growing need in our area Mr. Grenda chose to specialize in retirement financial planning and completed courses of study with AARP in addition to his other professional studies. He is primarily responsible for investment policy, investment selection and approval at RFG.

His more than 20 years of professional experience includes broker positions with Dean Witter and broker/management positions with Integrated Resources Equity Corporation and Royal Alliance Brokerage companies.

Mr. Grenda's education began with an Associates Degree in Criminal Justice from Clinton Community College, which he earned while serving as a Military Policeman in the United States Air Force. He later graduated from Buffalo State College with a Bachelor's degree in Business Administration.

Timothy Dembski, Managing Partner

Tim Dembski began his career in the financial services industry over a decade ago at Reliance Financial Group (RFG) and he is now Managing Partner. Mr. Dembski is primarily responsible for investment and accounting management for both individual and corporate. He also manages the RFG tax department, overseeing over a thousand tax returns each tax season. Tim has a strong accounting and finance background. He has taught accounting and tax courses at Erie Community College and served as treasurer and in advisory roles for local political campaigns.

Mr. Dembski Graduated from St. Bonaventure University with a BA in Accounting and was very active in Campus activities. He also played Varsity Rugby.

Tim received a BBA degree in Accounting from Saint Bonaventure University in 1994. Today, his background, experience and a comprehensive understanding of the tax codes form the basis for his approach to advising clients of Reliance Financial Group.

Russell Grosjean, VP of Investments and Taxes

Russell Grosjean has worked as a financial professional for over 25 years. Besides his work at Reliance, Russell is a faculty member in the Business Administration Department of ECC. In that capacity, Mr. Grosjean teaches courses in accounting, Corporate Finance, and Federal Income Tax. As a professor, Russ has helped educate numerous individuals and company owners in personal and corporate tax, while still keeping students up to date with recent and significant changes in the tax code. For his role as a professor, Russell has received the SUNY Chancellors Award (the highest award given to Professors in the SUNY system). Mr. Grosjean is also involved in the Small Business Administration (S.B.A.). He has taught many people covering topics such as starting and running a business, home-based business, tax advantages of operating a business from your home, and business plan creation. By do so, Russell has also been awarded by the Small Business Administration for his help to various small local businesses.


Ben Duggan, Client Account Manager & Investment Advisor

Ben Duggan is a Client Account manager and Ivestment Advisor Representative at RFG. Ben came to RFG as a student intern in 2008, while attending University at Buffalo management school, studying international business and finance. Due to his success as an intern Ben was invited to stay with us as a full time junior broker, where he has progressed to a fully licensed financial advisor. Ben, a local Buffalonian, attended Nichols and is an avid lover of sports and the outdoors. Since joining RFG, Ben has worked very closely with Walter and TIm Dembski, and always exercises his client's as the #1 priority. He is always available to answer any questions day or night, no matter the situation.


Timothy Hoag, Investment Advisor Representative

Timothy Hoag comes to RFG with a strong background in economics and financial administration. After graduating from St. Bonaventure University Tim was recruited to work as Fiscal Management Bureau Chief for the Ohio Department of Youth Services. While living in Columbus he also held advanced posts in other state government departments, first as Chief Financial Officer of the Ohio Department of Commerce and later as Director of Revenue Management for the Ohio Treasurer.

Tim is an Investment Advisor Representative, Enrolled Agent of the IRS and an Independent Certified Agent for Medicare Advantage & Supplemental Plans for United Health Care. Tim is actively involved with the Dave Ramsey nationally broadcast television and radio programs. He is the Endorsed Local Provider (ELP) for Tax Services in the Western New York area.

In addition to his degree from St. Bonaventure University Tim completed an intensive Economic course of study at Oxford University in London, England. He is now working on his Masters in Public Administration from Ohio State University. While at Bonaventure, Tim balanced his rigorous studies with equally rigorous sportsÉ He Co-Captained the Varsity Rugby team.



Scott Stephan, Registered Representative

Scott Stephan is a registered representative and chairman of RFG's Investment Committee. Scott began his career in the financial industry with GE Capital. He later relocated to Atlanta, Georgia to take a position with First Investors Financial Services as an administrator and became a department manager with over 200 employees under his wing. Scott moved back to Buffalo so that he and his wife could their family here.

Scott is a United States Air Force Veteran. During his time in the Air Force he worked as an Emergency Medical Technician on the flight line and attained the rank of Senior Airman before recieving an honorable discharge.