Osaic Wealth is a massive registered investment advisor (RIA) firm and broker-dealer with hundreds of thousands of clients across the United States. The firm serves clients in a range of ways including investment management, financial planning and consulting, retirement plan services, among others. Unlike other financial advisor firms, Osaic has relatively low account minimums, making its services potentially more accessible to a broader range of clients.
Osaic Wealth Background
Based in Scottsdale, Osaic Wealth traces its roots to SunAmerica Planning Centers, founded in 1988. The firm evolved through a series of acquisitions and ownership changes, including its integration into AIG and later its transition to Advisor Group following a private equity buyout in 2016. Advisor Group expanded significantly through acquisitions, including Ladenburg Thalmann and other broker-dealers, becoming one of the largest firms in the industry. In 2023, the company rebranded as Osaic as part of a broader effort to unify its network under a single identity.
Today, the firm operates a nationwide network of advisors who either work as independent contractors under the Osaic umbrella or as direct employees of the firm. This network comprises thousands of advisory professionals who provide investment and financial planning services.
Osaic Wealth Client Types and Minimum Account Size
Osaic has a massive pool of individual and institutional clients. While the overwhelming majority of Osaic clients are individuals without a high net worth, high-net-worth individuals make up the second-largest tranche of clients. The firm also serves retirement plans, government entities, charitable organizations, corporations, businesses and other institutions.
Osaic’s account minimums reflect its focus on serving a broad client base beyond high-net-worth individuals. While some services, such as financial planning and consulting, have no minimum requirement, the firm’s wealth management platforms typically require between $5,500 and $10,000, depending on the specific service.
Services Offered by Osaic Wealth
Like many large advisory firms, Osaic's services extend well beyond simple investment management. The firm offers financial planning and consulting services, retirement plan services, non-discretionary advisory services, as well as access to third-party managers.
As for investment management, the firm offers several managed account programs where advisors build and oversee customized portfolios based on each client’s goals, risk tolerance and financial situation. These programs include:
- Advisor Managed Portfolios Program (Vision2020 Platform): Customized portfolios constructed and managed by advisors using asset allocation tools.
- Unified Managed Account (UMA) Program: Multi-strategy portfolios combining different managers, funds and securities in one account.
- IWS Advisor Managed Portfolios Program: Advisor-managed portfolios using Fidelity Institutional Wealth Services (limited availability).
- IWS Unified Managed Accounts Program: UMA program available through select former Osaic FA advisors and offered as a wrap program.
Meanwhile, Osaic's financial planning services can be comprehensive in nature or focused on specific topics. Financial planning may encompass retirement planning, education planning, risk management, business succession planning and investment planning. The firm also has what it calls its Plan Participant Retirement Program, whereby advisors provide advisory services within a client's employer-sponsored retirement plans, managing both the client's contributions and their employer contributions.
Additionally, Osaic offers access to third-party managers, brokerage and custodial services and educational seminars designed to inform clients on general investment topics.
Osaic Wealth Investment Philosophy
Osaic doesn't adhere to a specific investment philosophy. Instead, the firm selects and manages investments based on the client's investment objectives, time horizon, risk tolerance and other personal circumstances. Ultimately though, advisors seek to build diversified portfolios using asset allocation models and optimization tools.
As for portfolio composition, Osaic advisors may allocate a client's assets to a combination of stocks, bonds, options, exchange-traded funds, mutual funds and other securities. Clients can impose specific restrictions, such as avoiding specific companies or entire industries.
Fees Under Osaic Wealth
Unlike certain firms that impose a set fee schedule for portfolio management, each advisor at Osaic negotiates their own fees with clients directly. This makes Osaic somewhat unique in the advisory space.
Many of the firm's investment management offerings are structured as wrap fee programs, where a single fee covers investment management, brokerage execution and custodial services.
For financial planning and consulting services, clients must enter into a separate agreement with their advisor. For these services, clients typically pay fixed or flat fees that can reach up to $25,000, or hourly fees of up to $750. In some cases, high-net-worth individuals may pay fees in excess of these limits.
What to Watch Out For
Osaic is also a broker-dealer and its advisors are registered representatives who can earn compensation related to the sale of products and services. This compensation is in addition to client-paid fees, which creates a potential conflict of interest. However, as an SEC-registered firm, Osaic must abide by fiduciary duty, act in your best interests and disclose its potential conflicts of interest.
According to Osaic's SEC-filed Form ADV, the firm has 102 disclosures.
Opening an Account With Osaic Wealth
To set up an account with Osaic, you'll need to contact the firm's Client Services department at (877) 310-4977.
Investing Tips
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