A Dallas-based team with roughly $860 million in managed assets will join LPL Financial from Lincoln Financial. The move comes as Osaic prepares to complete its acquisition of Lincoln National’s wealth management business.
The Strategic Wealth Partners team, led by owner Ryan Rayburn, has an additional office in Minden, La., Rayburn is joined by advisor R.E. “Mike” Woodard III and a six-member staff.
In a statement, Rayburn said his team started looking for a new broker/dealer when Osaic announced the acquisition of Lincoln, where he’d been for nine years. He was also attracted to LPL’s tools and resources, which he believes will help attract younger advisors to the practice.
“I wanted to align with an organization that makes large investments in tools and technology and has a strong track record of supporting advisors,” Rayburn said. “LPL’s comprehensive suite of tools and resources were pivotal in our decision-making and will enable us to deliver differentiated services experiences that our clients expect.”
Late last year, Osaic unveiled an agreement to acquire Lincoln National’s $108 billion wealth management business for $700 million, which consisted of two b/ds, each with a separate corporate RIA. Osaic expects to close the deal in the first half of this year.
This acquisition comes as Osaic (which rebranded from Advisor Group in 2023) is transitioning its other subsidiary b/ds into the Osaic brand. These legacy b/ds and Lincoln Financial’s wealth business are all expected to fully transition into the Osaic fold by the second quarter of 2025.
However, as those acquisitions are completed (or near completion), several teams have left Osaic in the past several months, and some have landed at LPL, including RFS Financial Securities and Equity Design Group.