Long Island-Based $1.5B Firm Transitions to Osaic’s W-2 Channel

Gateway Investments LLC and its affiliate Retirement Advisory Services Corp, a Garden City, N.Y.-based team overseeing approximately $1.5 billion in assets, have transitioned to Osaic Inc.’s empowered independence channel, the firm’s W-2 affiliation model.

The team is led by managing director Thomas Santucci and includes six advisers who have been affiliated with Osaic and its predecessor, Royal Alliance, through the independent 1099 channel since 2004.

The move shifts Gateway Investments from an independent contractor model to an employee-based structure, transferring back-office responsibilities — including payroll, real estate management, and cybersecurity — to Osaic.

“Transitioning to Osaic’s empowered independence model allows us to focus more of our time on [client] relationships while also investing in the future of our firm and the next generation of advisors,” said Santucci. He described the move as a “natural evolution” of a partnership spanning more than two decades.

Gateway said the move accelerates its internal succession planning. The firm will retain its local branding while gaining access to Osaic’s national infrastructure.

Cindy Hamel, head of empowered independence at Osaic, noted that the transition underscores the platform’s value in helping advisers grow and develop talent. “Tom and the Gateway Investments team have built a highly respected practice… We’re proud to support their continued success.”

The empowered independence channel, launched in 2023, now includes 10 teams managing a combined $8 billion in assets. Gateway’s move follows other recent transitions to the model, including $500 million-asset Pointes North Wealth Management, which joined in April 2026. Other additions include $1.2 billion Bard Financial Services and the $1.1 billion Veater Financial Group.

Osaic supports approximately 10,000 advisers. The firm recently completed a $2 billion recapitalization led by Reverence Capital Partners and Bain Capital.

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