Kristy Britt has been named Osaic's new chief financial officer, replacing Jon Frojen.
Britt started her new role on Monday and joins Osaic after a long stint with Thomson Reuters. Most recently, she was head of finance for operations and technology, leading programs related to digital enablement, customer experience, cost reduction and AI generative efficiency, according to her LinkedIn page.
In an interview with WealthManagement.comBritt said he had been working with Frojen for the past month to ensure a smooth transition. (Frojen assumed the role of CFO in 2020.) She will also relocate to Scottsdale, Ariz., to work out of Osaic's headquarters.
Her hiring comes as Osaic continues to integrate its legacy broker/dealers and Lincoln Financial's $115 billion wealth business, which it acquired earlier this year. The Lincoln business is set to convert in January.
“I'm coming in at a really great time because since data is all brought together and procurement is all brought together, I now have this visibility across the organization in a much more standard way,” she said. “And that's giving us insights into how advisors are doing, the services they need … and how we're using best practices across the different advisors to help them grow.”
In June 2023, Advisor Group announced its rebrand to Osaic, with plans to merge its 11,000 affiliated advisors and eight b/ds into a single entity. In a previous interview with WealthManagement.com, CEO Jamie Price estimated that the firm was “about 80% done” integrating all of its affiliate advisors into a single technology stack.
The firm labeled the entire process the “Journey to One,” and according to Britt, it has already tied up aspects like its back office and technology so the firm can focus on scale.
“The good news is they've already done a lot of the heavy lifting,” she said. “So they are well positioned to drive that growth.”
In the wake of the Lincoln acquisition, several former Lincoln advisors and teams with billions in AUM have left Osaic for competitors. with several of Lincoln's former advisers expressing caution about Osaic based on its private equity ownership or the possibility of further consolidation and disruption. Several firms from Osaic's legacy b/ds have also left, though Price said WealthManagement.com the firm was “right on” with their annual advisor write-off forecasts.
Britt said she had worked with acquired companies at Thomson Reuters and that the best way to ensure smooth integrations was to consider the benefits to both the acquired company and the buyer, remembering that both companies can learn from each other. – the other.
“Typically, when you buy a business, you do it for a good reason,” she said. “So you want to make sure you maintain those values and characteristics.”