Osaic has named Saumya Bhavsar as its new chief legal officer and general counsel, adding a seasoned financial regulatory executive to its leadership ranks as it continues to grow its advisor platform.
Bhavsar joins the wealth management firm from Meta, where she led the legal division for Meta FinTech, the company’s financial services arm. Her appointment places her on Osaic’s executive leadership team, where she will oversee legal strategy and guide the firm through an evolving regulatory environment.
“We are confident in the impact she will bring as a proven leader with experience and perspective that transcends wealth management,” Jamie Price, president and chief executive officer at Osaic, said in a statement Tuesday.
Bhavsar’s three-decade career includes senior leadership roles across both the private and public sectors. Prior to Meta, she served as general counsel for Diem Networks, managing regulatory and legal functions for Meta’s now-discontinued digital currency initiative. She also held senior compliance and legal affairs positions at Credit Suisse and UBS, in addition to early-career experience at the Office of the Comptroller of the Currency.
At Osaic, Bhavsar will focus on helping advisors navigate regulatory change while supporting the firm’s multi-channel affiliation model. According to the company, she will also work to reinforce a culture that prioritizes both advisor growth and inclusive leadership.
“I’m eager to apply my experience to build a strong legal framework that helps advisors grow their businesses and deliver exceptional service to their clients,” Bhavsar said.
Her legal background spans securities regulation, strategic transactions, and compliance oversight. Osaic said her guidance will be instrumental in ensuring that firm policies remain accessible while addressing risks tied to regulatory shifts.
In February, Osaic joined the growing list of wealth firms hit with cash sweep lawsuits, with a class action filed in the United States District Court for the District of Arizona claiming its program violated fiduciary standards by generating revenue at the expense of account-holders.
In addition to compliance responsibilities, Bhavsar is expected to play a role in aligning the legal function with Osaic’s broader business goals, particularly around advisor support and operational clarity.
Bhavsar's appointment is notable given the current decline in DEI sentiment across the wealth space. Following a pushback agains diversity, equity, and inclusion-based initiatives from the state and national government, financial firms across the industry have quickly fallen in line to scale back their own statements and commitments.
Apart from using her legal bona fides to empower advisors, Osaic said Bhavsar will "champion an inclusive and purpose-driven culture."
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
