Former Osaic Jersey Firm With $1 Billion in Assets Joins LPL Financial
The advisers of Investment Advisors Financial Group have joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms. The team reported having served approximately $1 billion in advisory, brokerage and retirement plan assets and joins LPL from Osaic.
Founded in 1979 by Thomas E. Musumeci and headquartered in Eatontown, N.J., Investment Advisors Financial Group includes a diverse mix of advisers with backgrounds in accounting, finance, tax, and investments who work together to address each client’s unique wealth management needs. The group, which is led by Musumeci, James Flannery, and Annie Silvestro – Musumeci’s daughter – consists of 22 advisers, eight associates, and administrative staff.
Musumeci, who has more than five decades of experience in the industry, continues to play an active role at the firm as president, employing his years of experience to mentor junior advisers. His son, Tom, is also an adviser in the practice.
Investment Advisors Financial Group looks forward to continuing Musumeci’s legacy of developing the skills of the next generation.
“I had the privilege of growing up in the business, and a big part of that was observing the relationships my father formed with a variety of clients,” Silvestro said. “My father created a practice where anyone who wanted help creating and building wealth could get it, regardless of the size of their accounts, and we are proud to continue his legacy today.”
It was the team’s desire for more autonomy, paired with the aspiration to elevate their clients’ experiences through integrated technology and robust services, that led them to LPL Financial.
“At Investment Advisors Financial Group, we are a full-service organization that takes an innovative team approach that aims to help clients meet their financial goals and advisers to be as successful as they want to be,” Flannery said. “Four decades ago, Tom established a practice that has become a legacy for its advisers, staff, and clients. Partnering with LPL and utilizing their extensive services and platform will help us take our next-level client experience further.”
“We welcome Thomas, James, Annie and the entire Investment Advisors Financial Group to LPL and look forward to supporting the continued growth and evolution of their firm,” said Scott Posner, LPL executive vice president of business development.
“At LPL, we applaud their strategic and team-focused approach to helping their clients work toward their financial objectives, and we are proud to support them with differentiated technology, business solutions and innovative wealth management platforms designed to create a heightened client experience,” concluded Posner.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at approximately 1,100 enterprises and 570 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.44 trillion as of March 31, 2024.
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