Osaic has expanded its operations with the addition of another Cetera advisor group in the Midwest.
The firm has incorporated Cohen Financial Services into its enterprise via New Century Financial Group, increasing the enterprise office of supervisory jurisdiction’s client assets to a sum exceeding $1 billion.
The integration of the advisory practice, previously affiliated with Cetera Advisors, adds $165 million in client assets to Osaic's portfolio.
Based in Overland Park, Kansas, Cohen Financial Services has been in operation since 1960, boasting a legacy of comprehensive financial management. Today, the practice offers expertise in multigenerational planning, investment, risk management, and other critical financial services.
The team at Cohen Financial Services includes partners and financial advisors Jason Stewart, Carey Berger, and Mark Glass, along with director of operations Carrie Jones and planning analyst Sam Glass. Their approach has consistently aimed to simplify complex financial planning processes for individuals, families, and business owners.
"We are excited to partner with Osaic and New Century as we embark on a new phase of growth for our firm," Stewart, a 21-year industry veteran, said in a statement. “We have ambitious plans to expand our business and feel that Osaic's robust succession and acquisition resources will help us reach our goals.”
With the inclusion of Cohen Financial Services, New Century's financial advisor team grows to 30, managing total client assets of $1.1 billion.
"It's exciting to continue our growth with the addition of Cohen Financial Services," New Century president Richard K. Oring said, praising the group’s ability to offer “hands-on client experience that helps limit some of unneeded complexities often associated with our industry.
“With the move to New Century and Osaic, they will be able to leverage the resources, scale and expertise we offer to help them take their business to the next level,” Oring said.
Osaic is adding Cohen Financial Services shortly after it bagged another Cetera team, Cornerstone Advisors, which has $360 million in assets and is based in Minnesota.
The firm also recently scooped up a $210 million book from Ameriprise as it welcomed Latitude Wealth Advisors into Affiliated Advisors, one of its largest OSJs.
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