Team Innovative Wealth Secures $700 Million Majority Stake Acquisition
Osaic Strengthens Wealth Management Platform with Innovative Wealth Team Acquisition
In a strategic move to bolster its position as a long-term partner for growth and succession, wealth management firm Osaic has announced the acquisition of a majority stake in Innovative Wealth Team. This partnership reinforces Osaic's commitment to investing in the future of wealth management.
The Innovative Wealth Team, founded by Brian Heapps, focuses on succession planning for retiring advisors. With approximately $700 million under management, the acquisition addresses the challenges of succession and continuity faced by advisors nearing retirement. The partnership aims to ensure smooth transitions of advisors' practices, preserving client relationships and business value.
This deal is one of several recent acquisitions by Osaic, including CW Advisors and Payant Wealth Management. These strategic moves reflect Osaic's long-term growth strategy, which centers on providing flexible, scalable solutions for wealth advisors at every career stage, with a strong emphasis on succession planning and continuity.
The partnership between Osaic and Innovative Wealth strengthens Osaic's supported independence model. This model allows advisers to maintain independence while providing infrastructure, resources, and capital, preserving adviser autonomy but reducing operational burdens. The partnership reinforces Osaic's aim to offer a continuum of support for advisers, from growth and operational efficiency to eventual succession.
Jamie Price, President and CEO of Osaic, made the statement about the partnership, emphasizing Osaic's dedication to the future of wealth management. The partnership aligns with Osaic's goal of supporting independence amid over $124 trillion in assets expected to transfer.
The acquisitions position Osaic as a long-term partner for growth and succession, addressing the expected large transfer of assets and adviser retirements by 2048. One-third of advisors are expected to retire by this date, according to Osaic. The partnership between Osaic and Innovative Wealth provides independent advisors with a succession partner, ensuring sustainable adviser and client retention across generations.
In summary, Osaic’s long-term growth strategy harnesses acquisitions to build a comprehensive wealth management platform focused on scalable adviser solutions and succession planning, ensuring sustainable adviser and client retention across generations.
- This strategic acquisition by Osaic, coupled with their focus on investing in the future of wealth management, aims to offer a continuum of support for advisers, including finance, business growth, and wealth management solutions, with a strong emphasis on succession planning and continuity.
- The partnership between Osaic and Innovative Wealth strengthens Osaic's supported independence model, promising to offer a succession partner for independent advisors, thus securing sustainable adviser and client retention across generations, while catering to the wealth-management needs of their business.
