LPL Financial Adds $1B NJ Team from Osaic 

LPL Financial LLC announced that Investment Advisors Financial Group has joined its broker-dealer, registered investment advisory, and custodial platforms. The team reported serving about $1 billion in advisory, brokerage, and retirement plan assets before joining LPL from Osaic. 

Founded in 1979 by Thomas E. Musumeci and headquartered in Eatontown, NJ, Investment Advisors Financial Group is led by Musumeci, who continues to play an active role at the firm as president, James Flannery and Annie Silvestro, Musumeci’s daughter. The team consists of 22 advisors and eight associates and administrative staff. 

The business was previously with Royal Alliance before the network of broker/dealers formerly known as Advisor Group rebranded as Osaic in 2023 and began integrating all of its legacy broker/dealers. 

It was the team’s desire for more autonomy, integrated technology and robust services that led them to LPL Financial. “Four decades ago, Tom established a practice that has become a legacy for its advisors, staff and clients,” said Flannery. “Partnering with LPL and utilizing their extensive services and platform will help us take our next-level client experience further.” 

The addition of Investment Advisors Financial Group continues LPL Financial’s recruitment of financial advisors from Osaic. Last month, LPL announced the addition of FSI Wealth Management, a California team that manages about $215 million. FSI was previously with Securities America, which is now part of Osaic.  

LPL serves nearly 23,000 financial advisors, including advisors at approximately 1,100 institutions and at approximately 570 registered investment advisor (“RIA”) firms nationwide. 

Pictured l to r: James Flannery, Annie Silvestro and Thomas E. Musumeci