Osaic Wealth has lured a financial advisor duo from Stifel Financial, where they oversaw about $232 million in total client assets. 

Advisors Michael Murray and Brian Fruend, who joined Osaic on February 2, have launched their independent practice, Missouri-based F&M Investment Partners, after the pair was previously affiliated with Stifel Independent Advisors. 

Murray and Fruend jumped ships to Osaic because they were seeking a firm that could provide “robust technology, operational scale, and comprehensive investment and planning resources.” 

“Osaic has the tools and support we need to deliver more comprehensive wealth management solutions for our clients,” Fruend said. “With access to expanded resources and a collaborative team, we’re confident Osaic will help us continue to grow our business while staying focused on what matters most—our clients.” 

Recently, Osaic added advisor Chris Livingston, from Santander Securities, where he oversaw about $164 million in assets under administration. Livingston joined Osaic’s affiliated firm, Oakfield Wealth Management Group. 

In October, Stifel Financial sold its independent advisor business, Stifel Independent Advisors, to Equitable Advisors, in a deal that added $9 billion in client assets to Equitable’s assets under management and brought more than 110 advisors to the firm. 

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