$102M Payne Financial Consultants Hops to Osaic from LPL

Osaic Wealth has added a North Carolina-based multi-generational investment firm from LPL Financial, which manages about $102 million in assets under management. 

Statesville, NC-based Payne Financial Consultants, led by managing representative David Payne, offers “comprehensive” financial planning, retirement planning, investment management, and legacy planning to high-net-worth individuals, pre-retirees, and retirees. 

The team also includes investment specialist Zach Payne and client relationship specialist Andrew Payne, according to the firm’s website. 

Following the acquisition, Payne Financial Consultants will join Osaic’s office of supervisory jurisdiction Alpha Omega, which is overseen by managing partner Russell Hadley. 

“Payne Financial Consultants exemplify the strength in long lasting, trusted, client-first focused relationships and we are excited to support and partner with them on these priorities,” Kristen Kimmell, executive vice president of business development of Osaic. “Their decision to join through Alpha Omega reflects our commitment to offering advisors the flexibility, resources and cultural alignment they need to thrive.” 

In July, Osaic added Fort Lauderdale, FL-based PATH Financial Partners, which oversees $250 million in assets under administration.