Acquisition of Majority Stake Worth $700 Million in Team Innovative Wealth by Osaic
In a strategic move to address the upcoming retirement of one-third of financial advisors by 2048, Osaic Wealth Management has announced its acquisition of Innovative Wealth Team. This partnership is part of a series of acquisitions by Osaic, including CW Advisors and Payant Wealth Management, positioning the wealth management firm as a long-term partner for growth and succession.
The Innovative Wealth Team, managing approximately $700 million, focuses on succession planning for retiring advisors. Founded by Brian Heapps, the team's focus aligns with Osaic's goal of supporting independence amid over $124 trillion in assets expected to transfer.
Jamie Price, President and CEO of Osaic, states that the partnership with Innovative Wealth Team is an investment in the future of wealth management. The partnership allows advisors to access capital, aiding in their practice's smooth transition. It aims to provide flexible, scalable solutions for advisors at every stage of their journey and ensure seamless service for clients across generations.
The partnership between Osaic and Innovative Wealth Team continues Osaic's series of acquisitions, further exemplifying Osaic's commitment to the future of wealth management. The partnership strengthens Osaic's supported independence model, helping advisors operate more efficiently.
The adoption of the Supported Independence model by firms like Schaible Russo Financial reflects Osaic’s flexible approach. This model allows advisors to maintain control over client service and entrepreneurship while Osaic handles compliance, HR, technology, and other administrative functions. Crucially, it includes robust succession planning support, enabling advisors to transition their practices smoothly and focus on long-term business continuity.
A clear example of this approach is the Providence Wealth Planning acquisition in August 2025. A family-led advisory firm founded by a father-son duo joined Osaic citing its succession planning support, enhanced technology, and advisor-first culture as critical reasons for affiliation. The involvement of a third family member (Kyle Massey) in a leadership role further reinforces the firm’s commitment to multi-generational succession under Osaic’s umbrella.
In conclusion, Osaic Wealth Management's strategy for succession planning provides robust support and flexible business models that empower advisors to focus on client relationships and long-term growth without administrative burdens. This approach is demonstrated through recent acquisitions and affiliations of family-led and entrepreneurial advisory firms that value succession planning as integral to their growth and legacy. The partnership with Innovative Wealth Team is a significant step in Osaic's mission to ensure seamless service for clients across generations.
[1] Providence Wealth Planning joins Osaic Wealth Management, LLC, Press Release, Osaic Wealth Management, August 2025, https://www.osaicwealth.com/press-releases [2] Osaic Wealth Management, LLC Announces Strategic Acquisition of Schaible Russo Financial, LLC, Press Release, Osaic Wealth Management, June 2024, https://www.osaicwealth.com/press-releases [3] Osaic Wealth Management, LLC Announces Strategic Acquisition of CW Advisors, LLC, Press Release, Osaic Wealth Management, April 2024, https://www.osaicwealth.com/press-releases [4] Osaic Wealth Management, LLC Announces Strategic Acquisition of Payant Wealth Management, LLC, Press Release, Osaic Wealth Management, February 2024, https://www.osaicwealth.com/press-releases [5] Osaic Wealth Management, LLC Announces Strategic Majority Investment in Innovative Wealth, LLC, Press Release, Osaic Wealth Management, October 2023, https://www.osaicwealth.com/press-releases
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