Broker-Dealer & Registered Investment Advisor Transition

On July 11th, we affiliated our practice with a new broker-dealer and registered investment advisor. Osaic Wealth, Inc. (formerly Advisor Group), was chosen in an effort to solidify our current service offering & expand our services—this replaces our relationship with Cetera. This change in affiliation is a decision our team has made after serious deliberation. Since the outset of the pandemic, Sonia and Jason have set out to respond to client needs by adapting our offering, and this affiliation allows our business to take the next step.

One of the primary drivers in making this decision was in finding a partner that would take the same care in client service as our team. The consolidation of systems at our previous broker-dealer has caused consistent interruption in execution of client service requests. Osaic has made considerable investment in technology that we believe will allow for better service outcomes for clients.

Rest assured, there are no changes to your investments, our independence, or our engagement with you. Our office locations & service team remain unchanged. We can be reached at the same phone number & email address as before.

In choosing this affiliation we believe the primary benefits are:

Continuity of Custodian – Osaic custodies client assets at Pershing. This allows for a mere change in account number for brokerage and advisory accounts. Statements & performance reports will appear nearly identical.
Advisory Fees – In nearly all cases, client advisory fees will be the same or lower at Osaic.
Expansion of Integrated Services – Beginning for tax year 2023, our office intends to re-open our tax preparation services to financial planning clients. Integrated Services will expand further to include basic estate document preparation guidance. Look for more information on Integrated Services in September.
Other reasons – better technology for client servicing & access; asset-based lending opportunities for clients; Trustee services available; and more.

The entire team is excited to enter a new era for our practice! We look forward to continuing our working partnership as your financial planner.

Preliminary Q & A

The following “Frequently Asked Questions” (FAQs) are provided to clarify questions you may have with regards to continuing as our client. These are a few of our thoughts related to service improvements. Beyond this letter, be assured that our team stands ready to provide personal responses and detailed information to address any additional inquiries you may have.

What are the potential benefits for me?

Convenience of E-Signature for many account transactions and account establishment.
Continued access to iPlan client portal (eMoney)
No proprietary products – we will continue to advise selection of what is in your best interest at all times!

Will this change cause a taxable problem for me?

This transition will not create a taxable event for your non-IRA/brokerage accounts
Transferring your IRAs or Roth IRAs will not be a taxable event either.

Will I have to change my investment portfolio?

There is no taxable event or need to change the investments beyond what we normally do to manage your account. Your brokerage or advisory accounts held at Pershing will need to move to a new Pershing account monitored through Osaic, but any investments will move over in-kind (as is), with a simple new account number at Pershing.

Are my Cetera/Pershing accounts still invested even though Jason is no longer affiliated with Cetera Advisors?

Yes, your portfolios are still invested exactly the way they were before the change in affiliation.

Will I be required to sign paperwork?

Any investments you hold DIRECTLY with investment companies (e.g., annuities or mutual funds) require a simple signature. In most cases, this can be completed by electronic signature.
Advisory & brokerage accounts require re-papering. We are committed to making this process as smooth as possible. Our hope is that the transition will be very straightforward, since this can be completed by electronic signature and we will be using the same custodian (Pershing).
If for any reason you prefer to transition your accounts by paper rather than with electronic signature, we can accommodate this.

How does this change my insurance policies or annuities?

No changes will be made to your insurance policies or annuities.

Who is Osaic Wealth?

Osaic Wealth (formerly Advisor Group) is one of the largest independent broker-dealers, supporting more than 11,000 financial professionals nationwide.
Osaic services over $500 billion in client assets, with over 2000 employees supporting independent advisory practices across the United States.

What should I expect next?

Someone from our team will be reaching out to you by phone or email to discuss these benefits and how they relate to you personally. Thank you for your patience as we contact you; we want to give everyone personalized attention. If you prefer to be proactive, you may call or email us a good day to schedule a time with me if you happen to have some questions.
While your advisory and brokerage accounts will stay at Pershing as custodian of the assets, we need to issue you a new series of account numbers.
The accounts you have held directly with annuity and mutual fund companies require a signature from you to re-establish the data feed to our office.
A letter of authorization signed by you will be required to provide continuity of your iPlan (eMoney) and performance reporting (Albridge).
These will be bundled in a singular document and included with other paperwork.
Until this package is complete, our office will not have access to your funds for ongoing servicing. If you have questions or concerns and would like to speak with Jason please contact our office at your earliest convenience.

Thank you for your patience in this process. We're here to answer any questions you may have. We are looking forward to the next step in our partnership together.