AFC Planning Group Transitions $110 Million in Assets from LPL Financial to Osaic
AFC Planning Group's move to Osaic highlights the ongoing consolidation in the wealth management industry and the strategic importance of platform resources for advisory firms seeking growth.
AFC Planning Group, a Melville, N.Y.-based advisory team managing approximately $110 million in client assets, has transitioned from LPL Financial to join Osaic, Inc., one of the nation's largest wealth management solution providers. The two-person firm, established in 2008 by managing partners Lou Addesso and Frank Fattizzi, will operate under Affiliated Advisors, an Osaic office of supervisory jurisdiction.
The move represents a significant shift in the competitive landscape of wealth management, particularly as firms increasingly seek enhanced technological resources and support systems. According to Addesso, the decision was driven by AFC Planning Group's desire for stronger tools and support that align with their client-focused approach. The firm specializes in serving high-net-worth individuals and small to mid-sized businesses, emphasizing long-term relationships over transactional interactions.
Kristen Kimmell, executive vice president of business development at Osaic, noted that the partnership represents a natural fit between organizations sharing similar values. By leveraging Osaic's platform, AFC Planning Group expects to create greater efficiency and dedicate more time to client service. The transition follows a pattern of advisors moving from LPL Financial to Osaic, with other recent examples including Simplified Wealth Management and Strategic Financial Management.
Osaic's model focuses on empowering independent advisors with resources to grow their businesses while maintaining autonomy. The company, which supports approximately 11,000 financial professionals nationwide, continues to attract firms seeking enhanced operational capabilities. Additional information about Osaic's services can be found at https://www.osaic.com.
The affiliation underscores the ongoing consolidation trend in the financial advisory industry, where scale and technological infrastructure increasingly influence firm partnerships. For advisory teams like AFC Planning Group, access to robust platforms can significantly impact their ability to serve clients effectively while managing operational complexities. This move also highlights the competitive dynamics between major wealth management platforms as they vie for established advisory teams with substantial client assets.