Osaic recruits $576M Stifel practice with succession help

Freehold Wealth moved a $576 million practice to Osaic from Stifel, and Mary Steele, the founders' daughter, cited Osaic's succession-planning resources as a reason for the move. The specific terms were not detailed.

Scott Seymour brought a $355 million practice to Kintra Wealth, joining as partner after seven years registered with Commonwealth. Kintra provided shared operations, compliance and investment staff.

For owners of multi-hundred-million-dollar books, the moves make succession and staffing terms part of the recruiting conversation, alongside payout. Freehold gives negotiating teams a specific checklist: a named buyer, a timeline and a multiple before the move.

Merrill raised the bar for its 2027 growth award to $7.5 million in revenue and four net new households, while holding its core grid flat. The $150 million Elite Award becomes three categories, each paying a 50% premium to the growth award.

Steve Chubak of Wolfe Research, on an Oct. 22 WealthManagement.com episode, said investors ask firms that grow by hiring whether the growth is sustainable, what it costs, and how capital is deployed between recruiting and organic growth. Merrill's structure pays for new households and revenue rather than a higher share of the assets an advisor already manages, which is why the grid can stay flat while the bar rises.