Osaic adds $360M team from Cetera

Based in Minnesota, the multi-advisor practice does financial planning and portfolio management for mass-affluent retirees and pre-retirees.

Osaic is deepening its presence in Minnesota as it welcomes another team, Cornerstone Advisors, led by veteran advisor and founder James Benson II, to its network.

Benson, who has 28 years of industry experience, according to his BrokerCheck report, is coming over to Osaic with his team from Cetera.

Cornerstone manages close to $360 million in assets for its clientele of individuals and families, primarily composed of mass-affluent retirees and individuals nearing retirement.

Headquartered in the Brainerd Lakes area of Baxter, Minnesota, the firm also has additional branches in Bismarck, North Dakota, and Perham, Minnesota.

“I’m excited to bring my business and clients to Osaic,” Benson said, praising Osaic’s technology and service offerings as “second to none.”

With a focus on comprehensive financial planning and portfolio management, Benson and his team are taking their book of business to Osaic as part of their “ambitious business growth strategy.”

The news of Cornerstone’s move comes just days after Osaic welcomed a $240 million practice based in South Carolina, Sturkie Wealth Management Group, from LPL.

Prior to that, LPL announced the addition of North Carolina advisor Cubby Bice, who oversaw around $130 million in assets at Osaic, to its network.