Osaic Lowers Advisor Fees
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Fresh off its rebrand earlier this summer and an organizational realignment into three channels focused on specific business models, Osaic has reduced its pricing for its advisors for the first time in its history.
“We're actually also going to put money back in advisor's pockets and leverage our pricing power with the vendors and the people that we do business with because of our size and scale and clout,” said James Price , president and CEO of Osaic.
Leaders of the firm announced a simplified advisory pricing structure on its Wealth Management Platform, moving to a flat fee for advisors with more than $50 million in advisory assets. Advisors with more than $500 million in advisory assets will pay nothing. The firm also announced new wrap pricing that will go as low as 4 basis points.
“We are simplifying pricing across our ecosystem,” said Greg Cornick , president of advice and wealth management of Osaic, in a statement. “As a first step, we’re making advisory pricing on WMP more streamlined and less expensive with tiered AMP and wrap platform pricing that will be straightforward and market competitive.”
Continue Reading:?Osaic Lowers Advisor Fees for First Time
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WM: In what areas of the market are you taking risk off?
Growth stocks and longer duration fixed income are two areas where we don’t see much value in loading up on risk. With growth stocks, the reason is due to their extreme valuations, and with longer duration fixed income, it’s due to uncertainty around the prospect of future tightening and the (still) inverted yield curve.
WM: What’s your top contrarian pick at the moment?
Non-U.S. equities continue to be a relative bargain in our view given their valuations, the strength of the U.S. dollar, political instability in the U.S., and ballooning federal debt.
Continue Reading: Top RIAs on The Current Investing Climate