Kristy Britt has been named Osaic’s new chief monetary officer, changing Jon Frojen.
Britt began her new function Monday and joined Osaic after a protracted stint with Thomson Reuters. Most not too long ago, she was the top of finance for operations and expertise, spearheading applications associated to digital enablement, buyer expertise, price discount and generative AI effectivity, in accordance with her LinkedIn web page.
In an interview with WealthManagement.com, Britt mentioned she’d labored with Frojen for the previous month to make sure a easy transition. (Frojen assumed the CFO function in 2020.) She may even transfer to Scottsdale, Ariz., to work out of Osaic’s headquarters.
Her rent comes as Osaic continues to merge its legacy dealer/sellers and Lincoln Monetary’s $115 billion wealth enterprise, which it acquired earlier this yr. The Lincoln enterprise is about to be transformed in January.
“I’m coming in at a very nice time as a result of because the knowledge has all come collectively and the acquisitions have all come collectively, I now have this visibility into the entire of the group in a much more customary means,” she mentioned. “And that’s giving us perception into how advisors function, the companies they want … and the way can we use the very best practices throughout the assorted advisors to assist them develop.”
In June 2023, Advisor Group introduced its rebranding to Osaic, with plans to merge its 11,000 affiliated advisors and eight b/ds right into a single entity. In a earlier interview with WealthManagement.com, CEO Jamie Worth estimated the agency was “about 80% achieved” integrating all its affiliated advisors onto a single tech stack.
The agency tagged the whole course of because the “Journey to One,” and in accordance with Britt, it has already aligned facets just like the again workplace and its expertise in order that the agency can concentrate on scale.
“The excellent news is that they’ve achieved plenty of the heavy lifting already,” she mentioned. “In order that they’re well-positioned to drive that progress.”
Within the wake of the Lincoln acquisition, a number of former Lincoln advisors and groups with billions in AUM have left Osaic for opponents, with some former Lincoln advisors expressing wariness about Osaic primarily based on its non-public fairness possession or the possibility for additional consolidation and disruption. Some companies from Osaic’s legacy b/ds have additionally left, although Worth advised WealthManagement.com the agency was “proper on” with their annual projections of advisor attrition.
Britt mentioned that she’d labored with acquired firms at Thomson Reuters and that one of the best ways to make sure easy integrations was to contemplate the advantages for each the acquired firm and the acquirer, remembering that each firms can be taught from one another.
“Sometimes, whenever you purchase a enterprise, you probably did it for a great motive,” she mentioned. “So that you wish to be sure to preserve these values and traits.”
