Osaic
| Company type | Private |
|---|---|
| Industry | Wealth management |
| Founded | 2002 |
| Founder | American International Group (AIG) |
| Headquarters | Scottsdale, Arizona , United States |
Area served | United States |
Key people | Jamie Price (Chief Executive Officer) |
| Products | Financial advisory services, wealth management |
| Owner | Reverence Capital Partners |
Number of employees | Approximately 11,600 financial advisors |
| Parent | Reverence Capital Partners |
Osaic, previously known as Advisor Group, is a U.S.-based wealth management company that supports approximately 11,600 financial advisors overseeing assets exceeding $653 billion. Originally established as a consortium of independent broker-dealers, Osaic began consolidating all affiliated firms under its unified brand and service infrastructure in 2023. The remaining broker-dealer entities scheduled for integration in 2024 include American Portfolios, Lincoln Financial Advisors, and Triad Advisors. Additionally, the company manages four Advantage Companies: Highland Capital Brokerage, Ladenburg Thalmann & Co., Ladenburg Thalmann Asset Management, and Premier Trust.
With its headquarters located in Scottsdale, Arizona, Osaic maintains a national presence with offices in cities such as Oakdale, Minnesota; New York City; Jersey City, New Jersey; and Atlanta, Georgia. The firm operates as a portfolio company under Reverence Capital Partners. Jamie Price holds the position of Chief Executive Officer.
History
The firm was originally founded by American International Group (AIG) in 2002 before being acquired by Lightyear Capital and PSP Investments in 2016. Reverence Capital Partners then purchased Advisor Group in 2019 for $2.3 billion. In 2023, the company underwent rebranding to Osaic to consolidate its various subsidiary firms into a cohesive organization.
Acquisitions
Osaic completed the acquisition of Ladenburg Thalmann Financial Services in a transaction valued at $1.3 billion, finalized in early 2020.
In May 2022, the company expanded its operations by acquiring Infinex Financial Holdings. This was followed by the purchase of American Portfolios Financial Services in June 2022, an independent brokerage and registered investment advisor network comprising over 850 financial professionals across nearly 400 branch locations and managing around $40 billion in client assets.
In December 2023, Osaic further increased its market presence through the acquisition of Lincoln National Corporation’s wealth management division for an undisclosed amount.
Women in all positions
Osaic is dedicated to ensuring that at least one qualified female candidate is interviewed for every job opening. By 2023, women occupied seven out of twenty-one senior leadership roles through a combination of internal promotions and external recruitment. As of 2022, women represented 24.9% of the company’s financial advisor workforce.