LPL lands $800M advisor group from Osaic

LPL lands $800M advisor group from Osaic
The Dougherty, Tedesco & Associates team in Ohio.
The independent broker-dealer's newest affiliate team offers planning and wealth management services to executives, engineers and medical practitioners.
OCT 24, 2024

LPL is strengthening its network in Ohio as a veteran planning team transitions over from Osaic.

On Thursday, LPL announced Dougherty, Tedesco & Associates, a Cincinnati-based wealth management firm, has joined its broker-dealer, RIA, and custodial platforms. The team, which previously operated under Osaic, reportedly managed approximately $800 million in advisory, brokerage, and retirement plan assets.

The Dougherty, Tedesco & Associates team was founded in the early 1980s by Charlotte Dougherty and has since expanded to become a prominent financial advisory firm in the region.

Now led by advisors Andrew Tedesco and John Dougherty III, the team offers a range of services that include financial planning, investment management, retirement planning, and estate planning to a client base primarily consisting of corporate executives, engineers, and medical professionals.

“Our mission is to lead clients to a more secure financial future, supporting them step by step through life’s various stages,” John Dougherty III said in a statement. “We take a team approach to providing customized strategies as we explore every avenue to help optimize the client’s success. Throughout the financial planning process, we never lose sight of one essential element: personal service.”

According to the statement, the team's decision to move is part of a broader strategy to enhance its service offerings by leveraging LPL’s advanced technology and expansive platform.

“We are excited to join LPL Financial and leverage its robust platform to provide clients with more holistic, tailored experiences,” Tedesco said. “LPL’s comprehensive platform, advanced technology, and substantial resources will give us more flexibility to respond to the diverse needs of our client base.”

The team at Dougherty, Tedesco & Associates also includes John Dougherty Jr., Caitlin Ackerman, Rita Anno, and Ben Verchick, who support the firm’s operations and client services.

LPL's latest addition in the Eastern US comes shortly after the firm, with its board's blessing, officially appointed Rich Steinmeier as its new CEO.

Steinmeier had held the position on an interim basis for roughly three weeks following the abrupt termination of Dan Arnold, whose straight-laced reputation at LPL contrasts sharply with the official reason for his firing.

“LPL’s code of conduct requires every employee, no matter their title, to foster a supportive and professional workplace and show respect to each other, our stakeholders and the broader community. Mr. Arnold failed to meet these obligations, ”James Putnam, chair of the board of directors, said in a statement at the time.

Latest News

'Bogged down' advisors just want to have fun (again)
'Bogged down' advisors just want to have fun (again)

Jim Cahn, of Wealth Enhancement Group, lifts the lid on his firm's partnership model, his views on RIA M&A, and the widely slept-on reason why advisors are merging into larger organizations.

Vestwell unveils new emergency savings account offering
Vestwell unveils new emergency savings account offering

The fintech firm is cementing its status in the workplace savings space with its latest ESA offering, which employers can integrate into their existing benefits package.

'Money Mimosas' and other ways to show your Valentine financial love
'Money Mimosas' and other ways to show your Valentine financial love

Wealth managers offer unique ideas for couples to grow closer emotionally and financially.

Limra research finds financial confidence on the rise among Black American workers
Limra research finds financial confidence on the rise among Black American workers

Survey findings suggest increased sense of financial security and more optimistic 2025 outlook, while highlighting employers' role in ensuring retirement readiness.

DOGE efforts sideswipe muni bonds backed by federal lease payments
DOGE efforts sideswipe muni bonds backed by federal lease payments

Falling prices for some securities within the $4 trillion state and local government debt market spotlight how the push to shrink spending is sending shockwaves across the US.

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.