Advisor Group Rebrands As Osaic, Plans To Unite Firms And Streamline Operations

Chris Latham, Managing Editor, Wealth Solutions Report

Advisor Group Rebrands As Osaic In Plan To Unite Its Eight Wealth Management Firms And Reduce Complexity Among Operations During The Next 18 To 24 Months

Advisor Group announced that it has rebranded as Osaic and plans to unite its eight wealth management firms under the new name while also seeking to reduce operational complexity among the firms during the next 18 to 24 months.

Osaic was unveiled Wednesday during a livestream featuring Jamie Price, President & CEO; Greg Cornick, President, Advice and Wealth Management; and Jen Roche, EVP, Marketing & Communications. The video focused on the themes of harmony, community, shared history and culture, achieving scale and enabling financial professionals to conduct business their own way.

“We are excited to announce our new brand and believe it truly pulls together our culture, community, experience, and diversity of thought into one inspiring story,” Price said. “It’s the perfect confluence of everything we are today and everything we plan to become in the future. We developed the Osaic brand for the advisors we serve today and those we will serve tomorrow. It was also built with their end-clients in mind, because we know they are who matter most to our advisors, and when they thrive, we all thrive.”

Pursuing Enhancements

Jamie Price, President & CEO, Osaic

Osaic, a portfolio company of Reverence Capital Partners, supports more than 11,000 financial professionals who collectively manage over $500 billion in client assets across its network of independent advisors. The eight firms transitioning toward the new unified structure are American Portfolios, FSC Securities, Infinex Financial, Royal Alliance, SagePoint Financial, Securities America, Triad Advisors and Woodbury Financial.

The combined company aims to improve its ability to serve its financial professionals – by providing direct access to all of Osaic’s capabilities and expertise, and simplifying its business structure through a unified platform and support model – while keeping the relationships that financial professionals already have developed.

Greg Cornick, President, Advice and Wealth Management, Osaic

Other goals of the initiative include enriched peer-to-peer sharing, a common tech stack that evolves beyond legacy systems, more efficient procedures, consistent regulatory and compliance policies, as well as a seamless no-papering experience for advisors who need business continuity planning, succession planning and acquisition support.

“As we went through the brand and naming process, we decided to go with a brand that could be uniquely ours,” Cornick said. “The mission and promise underlying Osaic is that we will leverage our scale, resources and expertise to help our financial professionals reach their full potential, as business leaders and as partners to their clients.”

Recruiting Talent

The day before the Osaic rebrand, Advisor Group announced the affiliation of Cheboygan, Michigan-based Encore Financial Group through Savage and Associates. In 2004, Encore President and CEO Dennis Hesselink founded what has become a 14 financial advisor-team that manages over $340 million in client assets across offices in Florida, Michigan, Pennsylvania and Tennessee.

Encore provides financial planning, wealth building, income distribution and estate planning services. The team came from Ohio National Equity Sales Company (ONESCO). Maumee, Ohio-based Savage and Associates has 68 financial professionals and over $2.8 billion in client assets.

Jen Roche, EVP, Marketing & Communications, Osaic

In recent months, Advisor Group also announced that four advisors from Securian Financial Services joined Capitol Financial Solutions, that former Dynasty Financial Partners Co-Founder and COO Edward C. Swenson joined to lead its hybrid and RIA channel strategies, and that it recruited New Brighton, Minnesota-based Delich Wealth Management and Westlake Village, California-based Silverberg Wealth Management.

“Developing a new brand is not an easy task,” Roche said in the livestream. “Hundreds of interviews, market research and discussions with the people we serve led us to this place. The process to get to Osaic also included a lot of time spent with our entire executive team discussing who we want to be and how we want to show up for our clients.”

Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com

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