Osaic Expands Supported Independence Channel With $460 Million Virtus Wealth Solutions

All-female firm joins Osaic from Commonwealth to access expanded technology, enhanced support and flexible succession planning options

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Osaic, Inc. (“Osaic”), one of the nation’s largest providers of wealth management solutions, announced today that Virtus Wealth Solutions (“Virtus Wealth”) has joined its Supported Independence (W-2) channel. Managing $460 million in client assets, the Morgantown, West Virginia-based firm transitioned from Commonwealth Financial Network to position itself for long-term growth.

Founded by financial planner Rachel Wood, Virtus Wealth is an all-women team of advisors and operations professionals serving clients nationwide, with a strong presence in the Morgantown community. Along with Rachel, advisor Tressa Wood is a Certified Financial Planner®. They are joined by five additional staff members, many on the path to becoming CFP®-licensed advisors.

Osaic’s Supported Independence channel provides Virtus Wealth with the support it needs to achieve its next phase of growth by expanding succession planning options to prepare for the future. The Virtus Wealth team will also leverage Osaic’s innovative technology stack to further enhance its comprehensive client service experience.

“Virtus Wealth is a family- and community-focused firm, and Osaic shares our vision to achieve that,” said Rachel Wood. “We’ve gotten to know the Osaic team well and we have the utmost confidence in the support we will receive to help us achieve our goals on behalf of our clients.”

“Our clients trust us for personalized, values-driven guidance,” added Tressa Wood. “With Osaic’s support, we are positioned to enhance the client experience, expand our capabilities, and deepen our impact .”

Virtus Wealth’s fee-centric model aligns seamlessly with Osaic’s Supported Independence channel. Rachel is committed to developing the next generations of women advisors, which includes Tressa as part of the second generation. Rachel is already partnering with Osaic’s Business Coaching & Consulting team as she develops the third generation of advisors.

“Rachel and the Virtus Wealth team embody the entrepreneurial spirit and client-first focus that thrive on our platform,” said Jamie Price, president and CEO of Osaic. “We are especially proud to support an all-women team committed to mentoring the next two generations of advisors.”

Virtus Wealth is among several firms who have joined Osaic from Commonwealth in recent months, following Bridenback Wealth Management and Spear Wealth Management. The announcement also follows the move of Tom Schaible and Al Russo to Osaic’s Supported Independence model. These moves underscore Osaic’s commitment to supporting and developing values- and client-centric firms.

To learn more about Osaic, please visit Osaic.com.

About Osaic:

Osaic, Inc. (“Osaic”), a portfolio company of Reverence Capital Partners, is one of the nation’s largest providers of wealth management strategies, supporting approximately 11,000 financial professionals. Osaic’s mission is to empower entrepreneurial advisors to build thriving businesses and fulfill their clients’ dreams. Visit www.osaic.com to learn more.

Securities and investment advisory services are offered through the firms: Osaic Wealth, Inc. and Osaic Institutions, Inc., broker-dealers, registered investment advisers, and members of FINRA and SIPC. Securities are offered through Osaic Services, Inc. and Ladenburg Thalmann & Co., broker-dealers and members of FINRA and SIPC. Advisory services are offered through Ladenburg Thalmann Asset Management, Inc., Osaic Advisory Services, LLC. and CW Advisors, LLC., registered investment advisers. Advisory programs offered by Osaic Wealth, Inc. are sponsored by VISION2020 Wealth Management Corp., an affiliated registered investment adviser.