Former Commonwealth Adviser With $352M in Client Assets Joins Osaic
Financial adviser Heather Hackett and her firm, Financial Planning Department, have joined Osaic, one of the nation’s largest wealth management firms and independent broker-dealers. The Long Beach, Calif.-based team transitioned from Commonwealth Financial Network and brings approximately $352 million in client assets.
Financial Planning Department is a women-led advisory team focusing on comprehensive financial planning, investment management, tax planning and preparation, as well as risk management strategies. The team provides financial planning and investment services for individuals and families across generations, including young professionals to retirees.
“We are committed to providing our clients highly personalized financial planning and thoughtful strategy at every stage of life,” said Hackett. “Osaic shares that commitment and offers the enhanced technology, improved efficiency, and strong support structure we were seeking. The platform enables us to operate more effectively while continuing to deliver the high-touch service our clients value.”
After evaluating potential partners, Hackett said she selected Osaic for its adviser-centric culture, integrated technology stack, and scalable support model designed to empower entrepreneurial advisers.
“Heather and her team represent the entrepreneurial-minded advisers who thrive on Osaic’s platform,” said Kristen Kimmell, executive vice president of business development at Osaic.
“We’re proud to support a highly credentialed, women-led team committed to delivering comprehensive financial planning and tax-focused strategies,” added Kimmell. “Our platform provides the flexibility and resources they need to scale their business and continue making a meaningful impact for their clients.”
Last month, AltsWire reported that Branford, Conn.-based Bard Financial Services Inc. joined Osaic’s empowered independence, or W-2, channel. The advisory firm, which oversees approximately $1.2 billion in assets under management, has been a partner of Osaic since 1986.
The transition to the empowered independence model is designed to align Bard Financial’s long-term growth with a structure that supports operational scale and succession planning. By operating under Osaic’s corporate registered investment adviser, the firm said the Bard team gains access to centralized infrastructure, compliance oversight, and technology resources.
Osaic, a portfolio company of Reverence Capital Partners, is one of the nation’s largest providers of wealth management strategies, supporting more than 10,000 financial professionals.
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