“Osaic Wealth” Is The Rebrand for Eight Broker Dealers
August 2023
According to recent press, Advisor Group, one of the largest networks of independent broker dealers with more that 11,000 advisors will be rolling its eight broker dealers into a new brand, Osaic Wealth, over the next 24 months.
The eight broker dealers include:
- American Portfolios
- FSC Securities
- Infinex Investments
- Royal Alliance Associates
- Sagepoint Financial
- Securities America
- Triad Advisors
- Woodbury Financial Services
The rebranding began recently with Royal Alliance Associates’ name being replaced recently with Osaic Wealth, Inc.
Royal Alliance had been around since 1989. According to FINRA records Osaic Wealth discloses 46 regulatory events and 31 arbitrations, which is the regulatory history of the former Royal Alliance Associates. Recent regulatory events include:
- 1/2023-$235,000 fine/restitution for failure to establish and maintain a supervisory system to ensure customers receive sales charge waivers in connection with rolling over 529 plans from one state to another.
- 11/2022-$206,500 fine/restitution for collecting commissions without informing customers that the issuer of bonds had failed to timely file audited financials.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Follow the links below for the FINRA records of the other members of Advisor Group:
- American Portfolios (7 disclosures)
- FSC Securities (54 disclosures)
- Infinnex Investments (8 disclosures)
- Sagepoint Financial (31 disclosures)
- Securities America (88 disclosures)
- Triad Advisors (13 disclosures)
- Woodbury Financial Services (33 disclosures)
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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