AFC Planning Group Transitions $110 Million in Client Assets from LPL Financial to Osaic
TL;DR
AFC Planning Group gains competitive advantage by accessing Osaic's superior tools and support to better serve high-net-worth clients with $110 million in assets.
Osaic's affiliation process involves transitioning advisory firms like AFC Planning Group from competitors such as LPL Financial to their Affiliated Advisors OSJ structure.
This partnership strengthens client relationships through Osaic's people-first approach, enabling advisors to focus more time on serving individuals and small businesses.
The two-person AFC Planning Group, established in 2008, joins a growing trend of firms moving from LPL Financial to Osaic's wealth management platform.
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AFC Planning Group, a Melville, New York-based advisory team established in 2008, has joined Osaic, Inc., one of the nation's largest wealth management solution providers. The two-person team, comprising managing partners Lou Addesso and Frank Fattizzi, brings approximately $110 million in client assets to Osaic after previously being affiliated with LPL Financial. The firm now operates under Affiliated Advisors, an Osaic office of supervisory jurisdiction.
Addesso emphasized that the decision to transition was driven by AFC Planning Group's culture-focused approach, which prioritizes long-term relationships over transactions. The firm's commitment to integrity, responsiveness, and genuine care aligns with Osaic's advisor-focused culture and people-first experience. This alignment is particularly significant for the firm's specialization in serving high-net-worth individuals and small to mid-sized businesses, where clear communication and proactive service are paramount.
Kristen Kimmell, executive vice president of business development at Osaic, noted that the partnership is a natural fit, highlighting how AFC Planning Group's values resonate with Osaic's client-first philosophy. By leveraging Osaic's platform, Addesso and Fattizzi are expected to gain access to stronger tools and support, enhancing their efficiency and ability to dedicate more time to client needs. This move is part of a broader trend of advisory firms seeking platforms that empower independence while providing robust resources for growth.
The transition underscores a competitive shift in the wealth management industry, where firms like Osaic are attracting advisors from major competitors such as LPL Financial. Other recent moves include Simplified Wealth Management and Strategic Financial Management, indicating a pattern of advisors prioritizing platforms that offer tailored support and scalability. For clients, this affiliation may translate to more streamlined services and advanced planning capabilities, reinforcing the importance of advisor mobility in maintaining competitive advantage.
Osaic's model, which emphasizes empowering entrepreneurial advisors to build thriving businesses, positions it as a key player in consolidating industry talent. The addition of AFC Planning Group's $110 million in assets not only bolsters Osaic's portfolio but also signals to the market the value of culturally aligned partnerships. For more information on Osaic's offerings, visit https://www.osaic.com.
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