Osaic’s $1.2 Billion Bard Financial Deepens Partnership With Transition to W-2 Model
Osaic Inc., one of the nation’s largest wealth management firms and an independent broker-dealer, announced that Branford, Conn.-based Bard Financial Services Inc. has joined its 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 advanced technology resources.
“For nearly four decades, our priority has been delivering thoughtful, relationship-driven guidance to clients across the country,” said Ken Spitzbard, financial adviser and leader of Bard Financial. “As we looked ahead, we wanted a business model that allows us to devote more time to clients and provide mentoring to the next generation of advisers, while continuing with a trusted partner for operational support.”
Spitzbard leads a seasoned team including: Jeffrey Welsh, financial adviser with 33 years of experience; Julie Cross Hoko, managing director; Mickey Goldberg, wealth adviser; and Jackie Weston, senior operations professional.
Welsh noted that the new channel provides the firm with “operational strength and flexibility” to serve clients on their own terms while maintaining the practice’s defined culture.
Bard Financial provides comprehensive wealth management and retirement plan services, including 401(k) consulting, to a nationwide client base. The move highlights a growing trend of established practices seeking efficiency and succession alignment within Osaic’s W-2 framework.
“Ken and his team represent the very best of long-term partnership and adviser excellence,” said Cindy Hamel, head of Osaic’s advisers channel. “Their decision to deepen their relationship with Osaic after more than 40 years speaks volumes about the strength of our platform.”
Osaic’s empowered independence channel is specifically designed for entrepreneurial advisers who require greater operational leverage – centralizing administrative and compliance duties – while maintaining full autonomy over client relationships.
Similarly, in December 2025, Veater Financial Group, or VFG, a financial planning firm led by George Veater, joined Osaic’s W-2 channel. Affiliated with Osaic since 2020, VFG oversees approximately $1.1 billion in assets under advisement, with offices in Fresno County and Orange County, Calif.
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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