Two advisory practices have made significant moves this week, joining W-2 structures at major firms.
Osaic announced that Tri-State Financial Group, a Cincinnati-based team managing around $575 million in client assets, has moved into the company's Empowered Independence channel. The team has operated within the Osaic network for decades, with managing director Michael George affiliated since 1981 and Michelle Metzger since 1999.
Tri-State operates as two advisory practices sharing a single branch location. In addition to George and Metzger, the team includes advisors Rhonda Matarese and Michael Metzger, collectively serving individuals, families and businesses with personalized financial planning and wealth management.
The shift to the W-2 channel is driven by succession considerations rather than a change in direction.
"Our clients have trusted us through many important life and financial decisions, and we take seriously the responsibility of ensuring they continue to receive the same level of care and attention well into the future," George said. "Osaic's Empowered Independence model gives us the ability to keep doing the work we love while putting a strong plan in place for continuity, succession and the next generation of client relationships."
For Matarese, the move creates a structured route to taking on a broader client base over time, without the financial burden typically associated with conventional succession arrangements.
Cindy Hamel, head of Empowered Independence at Osaic, said the transition illustrates the channel's value proposition for established practices weighing their long-term options.
"Mike, Shelly, Rhonda and Michael have built deep client relationships over many years, and this transition gives them a flexible structure to support continuity, create opportunity for next-generation leadership and preserve what makes their practice meaningful," Hamel said.
Tri-State joins a growing list of experienced teams that have made the same move in recent months, following Pointes North Wealth Management, which oversaw $500 million in assets, and the $1.5 billion Gateway Investments. Bard Financial Services also joined the Empowered Independence channel earlier this year.
Separately, LPL Financial announced that Wayne McCormick, CFP, ChFC, has joined Linsco by LPL Financial to launch McCormick Private Wealth with approximately $340 million in advisory, brokerage and retirement plan assets.
McCormick previously worked at Steward Partners and is based in Bedford, N.H., while the new practice includes team members Michelle Lauder, CFP, and Bo Denniston. The firm's focus spans clients approaching or already in retirement, as well as multigenerational relationships with families at earlier stages of wealth accumulation and planning.
McCormick brings three decades of financial services experience, including backgrounds in lending, credit, retirement planning and insurance, with the past 16 years spent working directly with clients as a financial advisor.
"At the center of our work is trust," McCormick said. "When clients choose to work with us, they are placing confidence in the guidance we provide, and we take that responsibility seriously. Our role is to simplify complexity, provide meaningful insight and help clients make thoughtful decisions that align with what matters most to them."
McCormick said the decision to join LPL came after an extensive review process, with the firm's technology platform and practice flexibility proving central to the choice.
"What stood out was the ability to combine a seamless technology experience with the flexibility to choose the solutions that best serve our clients," he said. "That efficiency allows us to spend more time focused on relationships and planning, while maintaining the independence of a boutique practice backed by the resources of an industry leader."
LPL chief growth officer Marc Cohen said the firm was pleased to back McCormick's move into independent practice. "His commitment to building trusted relationships and delivering thoughtful, planning-focused advice aligns with LPL's purpose to support advisors with the technology, resources and flexibility they need to serve clients effectively," Cohen said.
LPL currently supports more than 32,000 financial advisors and holds approximately $2.3 trillion in brokerage and advisory assets.
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