A Dallas-based team with approximately $860 million in assets under management will join LPL Financial from Lincoln Financial. Movement comes as Osaic prepares to complete its acquisition of Lincoln National's wealth management business.
The Strategic Wealth Partners team, led by owner Ryan Rayburn, has an additional office in Minden, La., Rayburn is joined by RE Advisor “Mike” Woodard III and a staff of six.
In a statement, Rayburn said his team began looking for a new broker/dealer when Osaic announced the purchase of Lincoln, where he had been for nine years. He was also drawn to LPL's tools and resources, which he believes will help attract new counselors to the practice.
“I wanted to join an organization that makes big investments in tools and technology and has a strong history of supporting advisors,” Rayburn said. “LPL's comprehensive suite of tools and resources were instrumental in our decision-making and will enable us to deliver the differentiated service experiences our customers expect.”
Late last year, Osaic revealed a deal for him to acquire Lincoln National's $108 billion wealth management business for $700 million, which consisted of two b/ds, each with a separate corporate RIA. Osaic expects to close the deal in the first half of this year.
This purchase comes as Osaic (which was renamed by Advisor Group in 2023) is transitioning its other b/ds subsidiary to the Osaic brand. These legacy b/ds and Lincoln Financial's wealth business are expected to fully transition to Osaic by the second quarter of 2025.
However, while these acquisitions have been completed (or close to being completed), several teams have left the Osaic in recent months and some have been relegated to the LPL, including RFS Securities AND Equity Design Group.