$450M FA Duo Joins Osaic Wealth’s W-2 Affiliation Channel

A New Jersey-based pair of financial advisors, affiliated with Osaic Wealth, which manages $450 million in assets under management, has transitioned from Osaic’s 1099 channel to its W-2 channel. 

Whitehouse Station, NJ–based Schaible Russo Financial, which is led by financial advisors Tom Schaible and Al Russo, joined Osaic through its predecessor firm, Securities America. The move comes as the duo was seeking additional operational support, including “human resources, real estate services, and succession planning tools,” Osaic said. 

Schaible Russo Financial joined Osaic in 2020, when the firm acquired Securities America, an Osaic spokesperson told Connect Money. 

Following the firm’s transition to Osaic’s W-2 channel, its client relationships and service delivery will remain unchanged, and financial advisors will gain access to Osaic’s wealth management platform, investment options, and advanced planning capabilities, the firm said. 

“We are committed to delivering exceptional financial planning and investment advice,” Schaible, managing director at Schaible Russo Financial, said. “Osaic’s Supported Independence model gives us the tools, structure and flexibility to grow our practice, while continuing to prioritize those we serve.” 

Osaic’s Supported Independence model was launched to deepen and strengthen the relationship between advisors and clients, without handling back-office functions, including HR, compliance, and technology.  

Recently, Osaic added Farmingham, MA-based advisor Joelle Spear, who launched Spear Wealth Management, which manages about $170 million in assets under administration.

Pictured: Alberto Russo (Left) and Tom Schaible (Right)