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Osaic to Acquire $108 Billion Lincoln Wealth

Osaic to Acquire $108 Billion Lincoln Wealth. Alternative investments, financial advisors, financial services, Osaic Inc., wealth management

Osaic, an independent wealth management firm formerly known as Advisor Group, announced a definitive agreement to acquire Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation, the RIA and broker-dealer entities that make up “Lincoln Wealth” from Lincoln National Corporation for $700 million.

The 1,450 advisors under Lincoln Wealth offer holistic financial planning and advisory services to affluent clients and oversee approximately $108 billion in assets ($71 billion in assets under advisement and $38 billion in assets under management).

According to Osaic, the acquisition has been “intentionally structured” to create a seamless transition for Lincoln Wealth’s advisors and their clients with minimal to no repapering and no change to account numbers. The company says Lincoln Wealth and the leadership team and employees supporting the business will join Osaic intact as stand-alone entities following the completion of the transaction, which is subject to regulatory approvals.

Lincoln National Corporation has been a strategic partner to Osaic for more than a decade and the two companies will continue to work together and expand their partnership over time, says Osaic.

“We’re excited to welcome Lincoln Wealth’s impressive leadership team, financial advisors and other dedicated employees to Osaic. This acquisition was driven by the strong partnership between Osaic and Lincoln Financial Group which will continue into the future,” said Jamie Price, chief executive officer of Osaic. “The cultural alignment between Lincoln Wealth and Osaic makes this a natural fit and we look forward to continuing to serve Lincoln Wealth advisors with the strong culture of community and development they have built.”

Originally founded in 1969, Lincoln’s wealth management business has been providing tools and resources for independent financial professionals.

Osaic Inc. is a portfolio company of Reverence Capital Partners and is one of the nation’s largest providers of wealth management solutions, supporting over 10,500 financial professionals.

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