Osaic Expands with Midtown Advisors Acquisition
Event summary
- Osaic, Inc. has acquired Midtown Advisors, a Raleigh-based wealth management firm managing $153 million in client assets.
- Midtown Advisors' team includes Managing Director Tom Perry, who led the firm for over a decade with LPL Financial before switching to Osaic.
- The acquisition provides Midtown Advisors access to Osaic’s integrated technology platform and robust product suite.
- Osaic has recently added several independent firms to its roster, including Sanders Wealth Management, True Wealth Advisors, and Soundview Financial Group.
The big picture
Osaic’s acquisition of Midtown Advisors underscores a broader industry trend of consolidation among wealth management firms. By adding independent advisors, Osaic aims to enhance its service offerings while maintaining a relationship-driven approach. This move aligns with the company's strategy to support entrepreneurial advisors and accelerate productivity through integrated technology platforms.
What we're watching
- Integration Challenges
- How Osaic will integrate Midtown Advisors' operations and client base into its existing platform without disrupting service quality.
- Competitive Positioning
- Whether this acquisition strengthens Osaic’s competitive edge against other large wealth management providers like LPL Financial.
- Growth Strategy
- The pace at which Osaic continues to acquire independent firms and the potential impact on its scale and market share.
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