OSJs

With the exact timeline and eventual destination unclear, the private equity-backed firm was revealed as one of two major OSJs departing from LPL.

The author learned fast that running an OSJ has little overlap with operating a fully independent, multicustodial firm.

The No. 1 IBD added to its record headcount with the third billion-dollar move it unveiled in a two-week span.

The 10-person practice, rebranded as Puzzle Wealth Solutions, is led by CEO John Klaas and COO David Millington.

Its parent seeks to support more holistic planning by combining it with two other subsidiaries.

Good Life Companies fosters competition among wealth managers for its own health and runs food stores and a gym.

Bill and Chris Hamm admit it’s been something of a rocky start, but they say IFP is saving advisors and clients money compared to a typical wealth manager.

The Dallas-based hybrid RIA has more than 100 reps, and, if they follow the chief’s exit, it would be the the No. 1 IBD’s largest loss since 2019.

Concurrent is catering to breakaway teams assessing their options after back-office frustrations during the coronavirus, co-founder Mike Hlavek says.

The enterprise could reach more than 50 registered representatives in the next couple of months, depending on how many of them leave MassMutual.