Osaic Inc., formerly known as Advisor Group, today announced that it has landed a former Wells Fargo Advisors Financial Network team in Birmingham, Mich., with more than $600 million in client assets.
The team, which operates as Investment Consulting Group, is led by managing partners and co-founders Christopher DeWolfe and Jason Franklin. It also includes vice presidents Judd Allen, Mark Ivanovic and Spencer Schmale and financial advisor Clay Franklin.
The team offers wealth planning solutions and “is dedicated to tailoring strategies that align with the unique goals of each of its corporate executive, small business owner and financially successful individual clients,” a news release said.
DeWolfe’s and Franklin’s careers have run parallel since they entered the industry in 1996 with Dean Witter Reynolds Inc., according to BrokerCheck. They moved to Leonard & Co. in 1999 when they founded the Investment Consulting Group practice. They joined Wells Fargo in 2008.
“We chose to go independent with Osaic due to its open architecture and growth-oriented culture. We are excited about the tools they provide our team to offer clients an elevated service experience,” Franklin said in a statement. “At the same time, their dedicated marketing support, practice management solutions and business-building resources will ease our transition and help us achieve our long-term growth goals."
Kristen Kimmell, Osaic’s executive vice president, business development, said “Investment Consulting Group is a tremendous addition” to the firm. “Osaic’s value proposition and forward-looking focus are attracting talented advisors and impressive firms with sophisticated practices."
“Our scale is a major strength, and that is being recognized and appreciated by advisors across the industry, including those looking to leave the captive model and go independent,” added Greg Cornick, president, advice and wealth management at Osaic. “We have the talent, resources and proven ability to help advisors take their practices to the next level, both through organic growth and M&A. We are honored that the team at Investment Consulting Group has placed its trust in Osaic.”
Based in Phoenix, Osaic is a portfolio company of Reverence Capital Partners, and one of the nation’s largest providers of wealth management solutions, supporting more than 11,000 financial professionals.