Osaic Took $175M From LPL. Alpha Omega Was The Real Recruiting Engine.

Wealth Management

Aug 18

Osaic recruited two North Carolina practices from LPL Financial in August 2025, bringing approximately $175 million in combined client assets onto a platform that was simultaneously trying to prove it could attract advisors while working through significant post-consolidation attrition. Payne Financial Consultants joined with approximately $102 million, while Bowman Financial Solutions added another $73 million. The original InvestmentNews report correctly presented the moves as wins for Osaic, but both decisions shared another important feature: neither practice simply selected Osaic headquarters as its next destination. Both entered through Alpha Omega Wealth Partners and its managing partner, Russell Hadley.

That common link changes the recruiting story. David Payne said his team had known and respected Hadley’s organization for years, while Brent Bowman was reuniting with Hadley after the two had previously worked together at Woodbury Financial. In both cases, a personal or professional relationship at the OSJ level helped connect the advisor practice to the national broker-dealer. Osaic supplied the larger platform, technology, compliance structure and resources, but Alpha Omega supplied something a large national company cannot manufacture instantly: trusted local credibility.

The distinction was especially relevant for Osaic in 2025. InvestmentNews cited Wolfe Research showing the firm had lost a net 186 advisors through the first half of that year while it continued absorbing years of broker-dealer consolidation. Later full-year recruiting analysis would place Osaic among the industry's larger net advisor decliners even as the company continued announcing individual recruiting wins.

That makes Payne and Bowman useful examples of how Osaic can compete after consolidation. A national platform does not have to win every advisor through one centralized recruiting message. It can rely on regional organizations, OSJs and established advisor leaders who already understand the local market and have histories with the practices being recruited.

The strategy also raises a bigger question for large independent broker-dealers: As platforms get bigger, does the intermediary layer between headquarters and the individual advisor become more important rather than less?

TL;DR

Osaic added two LPL practices in North Carolina: Payne Financial Consultants brought approximately $102 million in client assets, while Bowman Financial Solutions added $73 million.
Both joined through Alpha Omega Wealth Partners: Russell Hadley’s OSJ became the common recruiting and support layer behind the two moves.
Payne Financial is multigenerational: David Payne joined with his sons Zach and Andrew after nearly four decades in financial planning and investment management.
Bowman Financial was a professional reunion: Brent Bowman had previously worked with Hadley at Woodbury Financial before later moving to LPL.
The advisors emphasized relationships and support: Both announcements focused more heavily on cultural fit, service and trusted peers than on economics or recruiting packages.
Osaic needed positive recruiting evidence: InvestmentNews reported a net loss of 186 advisors through the first half of 2025, while later full-year data also showed Osaic among the larger net decliners.
The North Carolina lane did not disappear: Osaic later recruited Cary-based Du Lac Wealth Services from LPL with approximately $200 million in client assets, giving the state another notable LPL-to-Osaic move.
Osaic has since strengthened its capital base: Reverence Capital Partners completed a more than $2 billion recapitalization in April 2026 and said Osaic supported roughly 10,000 financial professionals and $747 billion in client assets under administration as of March 31.
LPL remains far larger despite losing individual teams: LPL currently says it supports more than 32,000 financial advisors and services approximately $2.4 trillion in brokerage and advisory assets.
The real lesson is about distribution inside distribution: National broker-dealers provide scale, but regional OSJs can remain critical for recruiting, service, succession and advisor confidence.

The Common Denominator Was Not Just Osaic

Payne Financial Consultants and Bowman Financial Solutions were announced separately, but their paths were unusually similar.

Both firms were based in North Carolina. Both were leaving LPL. Both wanted to preserve independent practices rather than enter a traditional employee model, and both selected Osaic through the same OSJ relationship with Alpha Omega Wealth Partners.

The similarities make Alpha Omega more than a footnote in the transaction.

Russell Hadley was the person both practices already knew.

For Payne, the relationship was based on longstanding professional respect. For Bowman, it was a return to a working relationship that existed before Bowman joined LPL. Osaic Executive Vice President Kristen Kimmell explicitly connected Bowman’s decision with trusted relationships, advisor choice and cultural fit.

That means the actual recruiting chain looked something like this:

Layer

Role In The Move

Payne Financial / Bowman Financial

Local advisor-owned practices and client relationships

Alpha Omega Wealth Partners

Trusted OSJ, local support network and recruiting bridge

Osaic

National broker-dealer, advisory infrastructure, technology and scale

The structure helps explain why large independent broker-dealers can have thousands of advisors without every advisor feeling directly connected to headquarters. The local practice may experience the OSJ as the more immediate relationship while the national firm operates behind it.

Alpha Omega Was Selling Something A National Broker-Dealer Cannot Easily Replicate

Large platforms can invest heavily in technology, product access, cybersecurity, compliance and advisor service.

They cannot quickly create 20 or 40 years of personal history with every prospective advisor.

That is where strong OSJs can become valuable recruiting assets.

Payne Followed A Longstanding Peer Relationship

David Payne's announcement focused heavily on his relationship with Hadley and Alpha Omega rather than on a specific Osaic product or transition incentive. Payne said the team had known and respected Hadley’s organization for years and believed Alpha Omega understood how to support a high-touch service business.

The language fits Payne’s own practice history.

Osaic described him as having nearly four decades in financial planning and investment management. He highlighted the longevity of his client relationships by noting that an account opened in 1985 remained active four decades later.

An advisor with that kind of tenure may evaluate a platform differently from someone building a first practice.

The decision is not only about technology or payout. It involves whether a new organization will protect client relationships that have survived multiple market cycles, regulatory changes and generations of family wealth.

A trusted intermediary can lower that uncertainty.

Bowman Was Reconnecting With An Old Network

Bowman Financial Solutions reached the same destination through a different history.

Brent Bowman had approximately 20 years of industry experience and previously worked with Hadley while affiliated with Woodbury Financial. Woodbury later became part of Osaic's broader legacy network, but Bowman had since spent several years with LPL before deciding to move.

His return to Hadley therefore was not simply a new recruiter introducing a different broker-dealer.

It was a professional reconnection.

Bowman said he wanted to expand the support network available to clients and specifically pointed to Hadley’s decades of leadership experience when explaining why the team wanted to rejoin his network. Osaic said the practice could preserve its investment approach while gaining additional infrastructure and support.

That distinction matters because advisor recruiting becomes easier when the prospect does not have to evaluate every relationship from zero.

Payne Financial Gives Osaic A Practice With Succession Already Inside It

Payne Financial was also more valuable than its $102 million asset figure suggests because the practice included two generations of the same family.

David Payne was joined by his sons Zach, an investment specialist, and Andrew, a client relationship specialist. The structure gives Payne Financial an internal continuity path that many mature advisor practices do not have.

That matters to Osaic because recruiting an older advisor without a successor can create another retention event when retirement arrives. A multigenerational firm has a better chance of transferring relationships internally if the next generation becomes trusted by clients before the founder steps away.

Succession Can Turn A Recruiting Win Into A Longer-Duration Asset

A $102 million practice can produce revenue today.

A successful father-to-sons transition can keep those relationships on the same platform much longer.

The difference depends on execution. Clients who have worked with David Payne for decades will not automatically transfer the same trust to his sons simply because they share a family name. Zach and Andrew need increasing involvement in planning, service and client conversations before succession becomes necessary.

The structure still gives Osaic an advantage because the potential successors are already inside the business.

That creates several opportunities:

David can gradually transfer institutional and client knowledge.
Zach and Andrew can build relationships before retirement becomes urgent.
Alpha Omega can support the family through the business transition.
Osaic can potentially retain client assets without an outside practice sale.
Clients can experience continuity rather than a sudden handoff to an unfamiliar buyer.

Succession is therefore part of the economic value Osaic recruited, even though the original announcement centered on client service and cultural fit.

Bowman Financial Gives Alpha Omega A Different Kind Of Continuity

Bowman Financial did not bring the same father-and-sons succession structure, although Operations Manager Jared Bowman gives the team another family connection. The practice instead illustrates continuity through professional network relationships.

Bowman had already experienced Hadley’s leadership through Woodbury. Moving back into Hadley’s network suggests the prior relationship retained value even after the firms stopped working together.

That can become particularly useful for OSJs because advisor recruiting is often a long-cycle business.

An advisor may leave one network and spend years elsewhere before the opportunity to reconnect appears.

Old Professional Networks Can Become Future Recruiting Pipelines

Large independent broker-dealers have acquired and consolidated numerous legacy firms over the past decade. Those transactions created complicated webs of former colleagues, branch managers, OSJs and advisor communities that persist even after the original corporate names disappear.

Osaic is itself built from many of those legacy relationships.

Its consolidation brought firms including Woodbury, Securities America, SagePoint, Royal Alliance and others under one Osaic identity. NJ Financial News’ analysis of the Osaic rebrand showed how much institutional history sits underneath the unified name.

Bowman’s return to Hadley demonstrates why those old relationships still matter.

Corporate brands can change faster than advisor networks do.

An OSJ Can Function Like A Small Platform Inside A Giant Platform

The term “office of supervisory jurisdiction” can make the OSJ sound like a purely compliance-oriented unit.

Large OSJs often do much more.

They can recruit advisors, provide operational support, help practices grow, facilitate succession, create peer communities and act as the everyday connection between an independent advisor and a national broker-dealer.

That makes the best OSJs resemble smaller platforms nested inside larger ones.

National Scale And Local Service Solve Different Problems

Osaic can offer resources that would be difficult for a regional organization to recreate on its own. The company had approximately 10,000 financial professionals and $747 billion in client assets under administration as of March 31, 2026, according to Reverence Capital Partners’ recapitalization announcement.

Alpha Omega solves a different problem.

The OSJ can know the advisor personally.

It can understand whether a practice is highly service-intensive, multigenerational or preparing for succession. It can provide another escalation point when a national service process becomes complicated and create a smaller peer group inside an enormous organization.

That division of labor can make a large platform feel less impersonal.

The national broker-dealer provides scale.

The OSJ translates that scale into the local practice.

Osaic Needed These Wins Because Consolidation Had Created A Recruiting Vulnerability

The timing of the Payne and Bowman announcements made them more strategically important.

Osaic had spent years consolidating several legacy broker-dealers into one organization, a process the company called its “Journey to One.” Unification promised reduced duplication, common technology, streamlined support and consistent processes, but large conversions can also create advisor fatigue while systems and service models change.

InvestmentNews reported that Wolfe Research estimated Osaic had posted a net loss of 186 advisors during the first half of 2025. Later Wolfe Research data cited by NJ Financial News placed Osaic down 483 net advisors for the full year, although advisor recruiting studies can use different methodologies and should not be treated as perfectly interchangeable with a firm's own affiliated-headcount reporting.

Another later industry report cited by NJ Financial News counted 589 Osaic advisor departures during 2025. That figure measures departures rather than net change, which is why it differs from Wolfe Research's net advisor number.

The broad direction is nevertheless clear: Osaic had a retention issue to solve while it was also recruiting.

Positive Press Releases And Net Recruiting Can Tell Different Stories

A large broker-dealer can announce new advisor teams throughout the year and still finish with fewer advisors than it started with.

That is not contradictory.

Recruiting announcements measure gross additions.

Net recruiting also subtracts departures.

This distinction is particularly important when evaluating firms going through consolidation because the platform can have legitimate success attracting individual practices while losing other advisors who dislike the changes.

Payne and Bowman therefore should not be presented as proof that Osaic had solved its attrition problem in August 2025.

They are evidence of which part of the recruiting strategy could work.

Trusted intermediary relationships were capable of pulling practices away from one of Osaic’s largest competitors even during a difficult retention period.

LPL Lost Two Teams But Was Winning The Broader 2025 Scoreboard

The other side of the story deserves similar balance.

LPL lost $175 million of advisor assets across Payne Financial and Bowman Financial, but those departures did not mean LPL was experiencing the same overall recruiting problem as Osaic.

Wolfe Research data later cited by NJ Financial News showed LPL adding a net 601 advisors during 2025, the largest gain in that dataset. Raymond James followed with 313. Osaic was among the firms reporting a net decline.

LPL’s current scale is larger still after subsequent acquisitions and organic growth. The company says it supports more than 32,000 financial advisors, approximately 1,200 financial institutions and roughly $2.4 trillion in brokerage and advisory assets, while its second-quarter 2026 release reported total client assets of approximately $2.6 trillion.

That context matters because recruiting competition does not require one firm to be collapsing.

Large Platforms Can Lose Good Teams While Still Growing

Payne and Bowman may have preferred Alpha Omega and Osaic for legitimate practice-specific reasons even while many other advisors preferred LPL.

Advisor platforms are too large and advisor preferences are too varied for every move to fit one universal ranking.

One practice may value a particular OSJ relationship.

Another may prioritize technology.

Another may want an employee model, RIA custody or succession capital.

The useful question is therefore not whether Osaic is “better” than LPL because two North Carolina practices switched firms.

It is why Osaic won these particular practices.

The evidence points strongly toward relationships, service structure and the intermediary OSJ layer.

North Carolina Became More Than A One-Day Recruiting Story

The 2025 moves are also more interesting in light of Osaic’s later recruiting activity.

By 2026, Osaic announced that Cary, North Carolina-based Du Lac Wealth Services had moved from LPL with approximately $200 million in client assets. The practice included Managing Director James Mertens, Wealth Advisors Garrett Railsback and Kerry Goodman and Client Experience Manager Jaunt’e Smith.

Du Lac did not join through the same Alpha Omega structure, so it should not be folded into the exact Payne-Bowman thesis.

It does show that North Carolina remained a viable LPL-to-Osaic recruiting market.

The Du Lac Move Added An M&A Dimension

Du Lac said one reason it chose Osaic was access to resources that could help level the M&A playing field. Its growth strategy includes acquiring books from retiring advisors while emphasizing tax-aware portfolio transitions and continuity for existing clients.

That is a different recruiting motivation from Payne and Bowman.

Payne emphasized long-term peers and client-service culture.

Bowman emphasized an expanded support network and reunion with Hadley.

Du Lac emphasized growth resources, acquisitions and client experience.

The three practices therefore provide a useful progression.

Osaic’s North Carolina recruiting case is not dependent on one argument. It has won practices through trusted OSJ relationships and through a broader national platform proposition tied to growth and M&A.

Osaic’s Recapitalization Raises The Bar For Recruiting Execution

Osaic entered another phase in April 2026 when owner Reverence Capital Partners completed a recapitalization representing more than $2 billion in new capital funded at closing.

Ares Secondaries funds and Lexington Partners led the continuation vehicle, Bain Capital joined as a new investor and Reverence committed additional capital for future organic growth, acquisitions and other strategic initiatives. Reverence said governance and board composition would remain in place.

The transaction gives Osaic more financial flexibility after years of integration.

NJ Financial News’ analysis of the Osaic recapitalization identified advisor retention and recruiting as two of the clearest tests for whether that capital creates practical value.

Advisor Growth Is Where New Capital Becomes Visible

Advisors are unlikely to judge Osaic based on the mechanics of a continuation vehicle.

They will judge whether the platform improves.

That can mean faster service, better technology, stronger transition support, more M&A resources, improved succession capabilities and more competitive recruiting programs.

OSJs such as Alpha Omega are where some of those improvements may become visible first because they interact directly with independent practices.

The recapitalization can strengthen the national platform.

The intermediary network still has to convert those resources into something advisors value locally.

The OSJ Model Creates Its Own Compliance Challenge

The same intermediary structure that improves recruiting can increase organizational complexity.

A client may work with Payne Financial Consultants.

The advisor may receive day-to-day support through Alpha Omega.

Brokerage and advisory services ultimately sit within Osaic’s regulated entities and supervisory framework.

That creates several layers of responsibility.

Local Autonomy Cannot Create Supervisory Ambiguity

A strong OSJ needs enough autonomy to understand and support its advisors.

The national broker-dealer still needs consistent oversight.

If local practices interpret policies differently or an OSJ becomes too independent operationally, the broker-dealer can create supervision gaps. Conversely, if headquarters standardizes everything so aggressively that the OSJ cannot solve local problems, it destroys much of the reason the intermediary exists.

The balance is important in areas such as:

advisor communications,
outside business activities,
product supervision,
client complaints,
branch inspections,
books and records,
investment recommendations,
cybersecurity,
advertising,
supervisory escalation,
and practice acquisitions.

The OSJ therefore cannot function only as a recruiting organization.

It also has to remain an effective supervisory and operating bridge.

Payne Financial Shows Why Client Trust Can Be More Valuable Than Recruitable Assets

David Payne’s story about a client account opened in 1985 stands out because it explains something asset totals do not measure.

Long-lived advisory relationships can become the most defensible part of a practice.

A household that has remained through decades of market cycles is less likely to evaluate every new investment provider purely on price. The relationship may involve financial history, family context and institutional knowledge accumulated over years.

That creates value for both the advisor and the receiving platform.

The Transition Risk Is Highest Where Trust Is Deepest

Long relationships can also make platform moves delicate.

Clients who have worked with one advisor for decades may follow that person because the personal relationship is stronger than their connection to the broker-dealer.

They may still dislike paperwork, account changes or unfamiliar technology.

Payne Financial therefore needed a transition structure capable of preserving the personal service clients expected while moving the regulated relationship from LPL into Osaic.

Alpha Omega’s role becomes more understandable in that context.

A high-touch practice may want another support organization that understands why continuity matters instead of interacting only with a national service queue.

Bowman’s Move Shows That Advisor Networks Can Outlast Broker-Dealer Brands

Bowman’s earlier relationship with Hadley dates to Woodbury Financial.

Woodbury itself became one of the legacy broker-dealers eventually consolidated into Osaic. The corporate identity changed, but the professional relationship remained useful years later.

This is one of the less visible consequences of broker-dealer M&A.

The company may consolidate brands and systems, but the advisor community retains memories of previous managers, OSJs and peers.

Those relationships can later influence recruiting in ways the national firm did not directly create.

Consolidation Can Destroy Brands Without Destroying Networks

Osaic's rebrand was designed to replace a complicated family of broker-dealer names with one larger identity.

Strategically, that can reduce confusion and improve scale.

The risk is losing some of the community feeling advisors associated with smaller legacy firms.

OSJs can preserve part of that network value.

Hadley did not need Woodbury Financial to continue existing as a national brand for his prior relationship with Bowman to matter. The relationship became portable across corporate restructuring.

That is an important asset for any consolidator.

A company that unifies broker-dealers should try to preserve the human networks that made those firms valuable in the first place.

The Client Should Experience More Support, Not More Organizational Layers

For clients, the Osaic, Alpha Omega and local-practice structure should ideally remain largely invisible unless the distinctions affect their accounts or legal relationships.

Clients care more about whether service improves than which level of the organization handled a problem.

Bowman’s announcement explicitly said clients would maintain their existing investment approaches while receiving stronger infrastructure and support. Payne’s announcement similarly centered the move on maintaining high-touch service.

Those promises create a practical test after the transition.

What Clients Should Actually Notice

Clients may reasonably expect:

the same advisor relationships to continue,
faster or more capable operational support,
reliable account access,
continuity in investment philosophy where appropriate,
clearer financial-planning resources,
responsive service during transitions,
and a stable succession plan for long-term relationships.

What they should not experience is confusion over whether the local practice, Alpha Omega or Osaic is responsible for solving a problem.

Organizational layers create value only when they make the client experience easier.

The Intermediary Layer Could Become More Important As Broker-Dealers Get Larger

LPL now supports more than 32,000 advisors.

Osaic supports roughly 10,000 financial professionals.

Platforms of that size inevitably face a scale problem: how do they provide national infrastructure without making individual practices feel anonymous?

OSJs and similar advisor communities provide one answer.

They can create smaller operating units inside national platforms, giving advisors closer relationships and more specialized support while still accessing the economics and capabilities of a major broker-dealer.

This is particularly valuable for mature practices.

A $70 million, $100 million or $200 million advisor team may not command the same attention from national leadership as a multibillion-dollar superteam. Inside a strong OSJ, the same practice can become strategically important.

Bigger Broker-Dealers May Need Stronger Middle Layers, Not Fewer

Platform consolidation often promises simplicity by removing layers.

Some layers are duplicative.

Others perform real functions.

A strong intermediary can provide:

advisor recruitment,
local culture,
peer community,
practice consulting,
succession support,
transition assistance,
supervisory oversight,
issue escalation,
and a more personal connection to the national firm.

The question is not whether every layer should survive.

It is whether each layer adds enough value to justify its existence.

Payne and Bowman suggest Alpha Omega did.

Osaic’s Recruiting Story Now Has To Move From Isolated Wins To Net Improvement

The $175 million North Carolina announcement was useful evidence that Osaic could still recruit during a period of consolidation-related pressure.

The later Du Lac move strengthened the evidence that the firm could keep pulling practices from LPL in the state.

Those wins still need to be judged against the larger scoreboard.

NJ Financial News’ coverage of the 2025 recruiting results showed Osaic posting one of the larger net advisor declines while LPL and Raymond James led the gain column.

Osaic now has more capital and says its Journey to One unification effort is complete. Reverence’s recapitalization announcement described a company ready to shift toward its next growth phase.

The benchmark therefore changes.

It is no longer enough to argue that advisor attrition was understandable during consolidation.

Osaic has to show the unified organization can recruit and retain consistently after consolidation.

Signals Worth Watching

The next phase should be judged through several measures rather than one asset headline:

Net advisor growth: Gross recruiting wins need to begin exceeding departures.
OSJ productivity: Strong intermediary firms should continue adding and retaining practices.
Service experience: Advisors need to feel less operational friction after unification.
North Carolina recruiting: Additional wins would show Payne, Bowman and Du Lac were part of a repeatable market rather than isolated moves.
M&A support: Teams such as Du Lac should be able to use the platform to acquire retiring advisor books successfully.
Succession retention: Multigenerational practices such as Payne Financial should remain through generational transfers.
Advisor confidence: Strong advisors should be willing to recommend Osaic to peers, creating the same relationship-driven effect Alpha Omega produced.

Those signals would demonstrate that Osaic has moved from managing consolidation to producing growth.

Bottom Line: Osaic Won The Teams, But Alpha Omega Won The Relationships

The original InvestmentNews headline was straightforward: Osaic recruited two North Carolina teams from LPL with approximately $175 million in combined assets while trying to offset broader advisor attrition. Payne Financial Consultants brought approximately $102 million, and Bowman Financial Solutions brought $73 million.

The more revealing detail was how those teams arrived.

Both chose Alpha Omega Wealth Partners.

David Payne had known and respected Russell Hadley’s team for years. Brent Bowman had worked with Hadley before at Woodbury Financial. Both advisors emphasized support, client service and established relationships when explaining why they changed platforms.

That makes the $175 million move a useful case study in the value of the OSJ layer.

Osaic provided national scale.

Alpha Omega provided local trust.

Payne Financial brought multigenerational succession potential, with David’s sons already working inside the practice. Bowman Financial brought another form of continuity through a professional relationship that survived years and changes in broker-dealer affiliation.

The combination mattered because Osaic needed exactly that kind of recruiting mechanism during a difficult transition period. The company was still winning individual teams even as industry data showed meaningful net advisor attrition. Later, Osaic added another North Carolina LPL practice when Du Lac Wealth Services joined with approximately $200 million, suggesting the state remained a viable recruiting market.

Osaic now enters the next phase from a stronger financial position. Reverence Capital Partners completed a more than $2 billion recapitalization in 2026 and said the company had approximately 10,000 financial professionals and $747 billion in client assets under administration. The capital is intended partly for organic growth, acquisitions and strategic investment.

But capital alone will not solve recruiting.

Neither will one unified brand.

The Payne and Bowman moves show why the human network underneath the national platform still matters.

For Osaic, the strongest recruiting engine may not always sit in Scottsdale.

Sometimes it sits much closer to the advisor.

Frequently Asked Questions About Osaic’s North Carolina Advisor Moves

Which LPL Advisor Teams Joined Osaic In North Carolina?
Osaic announced in August 2025 that Payne Financial Consultants and Bowman Financial Solutions had moved from LPL Financial. Payne Financial, based in Statesville and led by David Payne with sons Zach and Andrew, brought approximately $102 million in client assets under administration. Bowman Financial Solutions, led by Brent Bowman and supported by Operations Manager Jared Bowman and Glenda Swank, brought approximately $73 million. Both practices entered Osaic through Alpha Omega Wealth Partners, giving the two moves a common recruiting and support relationship despite operating as separate advisor businesses.
Why Did Payne Financial Consultants Leave LPL For Osaic?
Payne Financial emphasized the opportunity to work with longtime peers and gain support suited to its high-touch client-service model. David Payne said his team had known and respected Russell Hadley’s organization for years and viewed Alpha Omega and Osaic as a natural fit. The practice also has a multigenerational structure, with David’s sons Zach and Andrew already working inside the business, making service continuity and long-term succession particularly relevant to its platform decision.
Why Did Bowman Financial Solutions Join Alpha Omega And Osaic?
Brent Bowman said the practice wanted to expand the support network available to clients while maintaining its core investment approach. Bowman had previously worked with Alpha Omega Managing Partner Russell Hadley at Woodbury Financial, so the move also restored a trusted professional relationship. Osaic said Bowman Financial would gain greater infrastructure and flexibility while clients would not see a change in the practice’s investment strategies, making the transaction more about support, platform fit and long-term growth than changing the local advisory identity.
What Is The Role Of An OSJ Such As Alpha Omega Wealth Partners?
An office of supervisory jurisdiction can perform regulatory supervision for affiliated financial professionals, but larger OSJs may also provide recruiting, practice management, operational support, succession guidance and a smaller advisor community within a national broker-dealer. The Payne and Bowman moves illustrate that broader role because Alpha Omega did not merely supervise the practices after they arrived. Its existing relationships with both teams were important parts of why they selected Osaic, making the OSJ a recruiting and service intermediary between the individual practice and the national platform.
Is Osaic Still Recruiting Advisors From LPL In North Carolina?
Yes. Osaic later announced that Cary, North Carolina-based Du Lac Wealth Services had moved from LPL with approximately $200 million in client assets. Du Lac’s motivation differed from Payne and Bowman because the team emphasized growth resources and support for its advisor-acquisition strategy, but the move provides additional evidence that North Carolina has remained an active recruiting market for Osaic. The firm’s broader challenge is turning individual wins such as these into sustained net advisor growth after several years of consolidation-related attrition.