Ventura Wealth Management, a registered investment advisor based in Yardley, Pa., with about $600 million in client assets, has left Osaic to become an RIA-only firm.
Ventura Wealth had been operating as a standalone RIA using independent broker/dealer American Portfolios Financial Services, which was acquired by Advisor Group in 2022 and later renamed to Osaic in a restructuring the firm is still undergoing to combine its various brands.
Ventura Wealth was founded in 1999 by CEO Nicholas Ventura and has a team of about 11 people working with high-net-worth individuals, businesses and nonprofits.
“We’ve more or less felt we’d outgrown the b/d business,” said Daniel McElwee, partner and chief operating officer for Ventura Wealth. “There have been a lot of good products introduced to the RIA space. … you don’t have to have the b/d to maintain those relationships.”
McElwee said the firm had no negative experience with former broker/dealer partners but felt the RIA space had evolved to allow them to go solo. He also noted that Ventura Wealth does asset management in-house and now has more flexibility to provide different offerings.
Osaic saw advisor attrition as it worked to integrate its broker/dealer network, often to competitor LPL Financial. The integration was completed in January of this year, with Osaic noting improved results.
“In Q1 of 2025 alone, we recruited AUA at 142% of the prior year, setting record onboarding and transition results for affiliating financial advisors—delivering stronger client satisfaction and accelerated asset aggregation, particularly for advisors who are strategically aligned with Osaic,” Kristen Kimmell, executive vice president of business development, said in a statement. “We look forward to continuing this momentum and have a robust pipeline in place.”
According to data from ISS Market Intelligence tracking independent broker/dealer advisor movement, Osaic shows the highest net loss of representatives, at 103 net departures year-to-date. LPL Financial ranks at the other end, with a net gain of 856 advisors, followed by Cetera at 494.
More broadly, there is a trend toward firms moving to the RIA-only model, as Ventura has done. According to a recent report from AdvizorPro, the RIA channel saw the most net hires from October 2024 through March 2025. Hybrid advisor platforms saw the second-highest net gains, followed by independent broker/dealers, which showed a net loss of advisors, as did wirehouses.