Osaic, formerly Advisor Group, says it has successfully closed its acquisition of broker-dealer Lincoln Financial Advisors and Lincoln Financial Securities, its partner registered investment advisor firm.
Osaic revealed its acquisition plan in December, noting that the dual transaction would bring about 1,450 advisors and $115 billion in client assets to the firm. At the time, Osaic executives projected these advisors to join Osaic by June 30, following regulatory approval, bringing its total assets under management and advisement to over $600 billion.
Jamie Price, president and CEO of Osaic, said the addition of the Lincoln Wealth team expands the Osaic national network of seasoned and specialized financial professionals. The acquisition follows a decade-long strategic partnership between Osaic and Lincoln National Corp., he said.
"They are highly regarded as some of the most holistic planning-focused professionals in the wealth management industry," Price said. "We extend a warm welcome and look forward to continuing to provide their team of advisors and associates with the support, expertise and resources they need to make a difference in their clients' lives."
