$1.1B Osaic 1099 Affiliate Shifts to W-2 Employee Model

Core Insights - Veater Financial Group has transitioned from Osaic's 1099 independent broker/dealer model to the W-2 employee channel to enhance growth and succession planning [2][3] - The firm, founded in 2012 by George Veater, manages approximately $1.1 billion in assets and has a history of moving between broker/dealer affiliations [2][3] - Osaic's W-2 channel is positioned to attract advisors interested in the RIA fiduciary model, with significant assets under management and a strategic focus on fee-only or hybrid options [4][5] Company Transition - Veater Financial will maintain its brand while transitioning its three advisors and four support staff to the W-2 employee model [3] - The move is part of a broader trend, with other practices like Schaible Russo Financial and Virtus Wealth Solutions also joining Osaic's W-2 channel [7] Osaic's Strategy - Osaic's W-2 channel reported approximately $57 billion in client assets and an additional $24 billion in the pipeline as of September [5] - The overall independent broker/dealer has $760 billion in assets across various affiliation models, indicating a robust market presence [5] - Osaic CEO Jamie Price emphasizes the importance of the W-2 advisor channel in capturing advisor interest and enhancing operational infrastructure for growth [4][6]