A Florida Supervisory Jurisdiction office that manages more than $ 1 billion is moving to Ausdal financial partners from Osaic.

The team consists of 15 councilors, including OSJ supervisors Richard Gerepka, who said the transition would better serve the needs of team clients.

“We were looking for a partner who not only offers the resources of a large broker/trader, but also promotes a culture of small firms, where we can maintain strong client relationships,” he said.

Gerepka's career includes decades, including over 15 years in US portfolios. In 2022, the group of advisers announced that it won US portfoliosadding 850 councilors and nearly $ 40 billion of wealth.

American portfolios held its brand and operation model, becoming one of the eight B/DS counselor group, including FSC Securities, Investments Infinex, Royal Alliance Associates, Sagepoint Financial, Securities America, Triad Advisors and Woodbury Financial Services.

But in 2023, Group advisers announced his repurchase to Osaic with plans to integrate the mediator/traders of the councilor group into an entity within 18 to 24 months. At the same time, Osaic completed the purchase of Lincoln Financial's $ 115 billion business asset, with 1,400 advisers expected to be on board.

As integrations advanced, numerous teams left Osaic for other firms, including a California -based team managing about $ 1 billion in assets JOined LPL Financial at the end of last month. Last April, the LPL scored a financial pilot, a $ 4.6 billion firm with 105 advisers, from Osaic, who was previously linked to Lincoln.

According to Ausdal, the Gerepka team made the movement (and integration) of the US portfolios, which pushed them to OOK for a firm that better matched their values.

In an interview last fall with Assemblyamagamant.com, Osaic Director General Jamie Price said he was not concerned about the departures, saying the extent of the counselor's withdrawal was “fair” with what he expected in annual predictions after reconstruction and that any significant change of the kind they made would include a withdrawal.

Pricemim also objected that supporting the firm's private capital was a reason for many departures, as some advisers said before Assemblyamagamant.com (Private capital firm Reverence Capital holds a majority of shares in the company). He said the notion of the capital of reverence that dictated the need for integration was a “mistake”.

“(There is) the idea of ​​private capital that comes and squeeze the costs in our business to earn a profit when 90% of our costs are variable. They are related to markets or councilors,” he said. “You would never create a very good wealth management business if that would be the thing you did.”

Ausdal is an independent B/D and an investment advisory firm founded in 1979, with advisers across the country and office in Davenport, Iowa and outside Agoikagos. According to the firm, its general AUM was about $ 7.5 billion before the osaic team's purchase.