Osaic, the Arizona-based wealth management firm, announced Tuesday that it had added Du Lac Wealth Services, a $200 million firm based in Cary, North Carolina.
Du Lac Wealth is led by James Mertens, managing director, alongside wealth advisors Garrett Railsback and Kerry Goodman, and Jaunt'e Smith, the client experience manager.
Kristen Kimmell, executive vice president of business development at Osaic, told ThinkAdvisor that after meeting with Mertens and learning about Du Lac Wealth's business, the firm was "genuinely excited about the possibilities that an Osaic partnership could offer."
"James' growth strategy aligns perfectly with the robust suite of capital solutions we provide for acquisitions and other growth initiatives," she said. "It's clear that Osaic would play a meaningful role in supporting their vision and helping them realize their goals."
This represents the firm's sixth pull from LPL Financial this year, following Osaic's recent recruiting of The Finance Couple, Financial Planning Department, IDT Capital Group, Midtown Advisors and Meyers Wealth Management. (Financial Planning Department is from Commonwealth Financial Network, which was acquired by LPL last year.)
With these six firms, more than $1.2 billion in assets have moved to Osaic in the past few months.
More broadly, Kimmell said that Osaic was seeing advisors increasingly seek opportunities to partner with the firm as it looks to accelerate growth.
"Many are drawn to the flexibility in choice we offer, the wide range of solutions available, and the vibrant culture and deep-rooted communities that make Osaic unique," she said. "Our ability to provide flexibility, support growth and foster communities built on strong connections across the organization is a significant advantage for advisors aiming to unlock their potential."
Osaic has around 10,000 advisors and $747 billion in client assets under administration.
Courtesy photo
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.