Osaic Lands $442 Million in Client Assets With Two Ameriprise Defections

The independent channel continues to attract wirehouse-affiliated advisors seeking flexibility, with Osaic building momentum through its OSJ partnership model.

Osaic has added two former Ameriprise teams overseeing a combined $442 million in client assets, both joining through existing offices of supervisory jurisdiction in a move that underscores the independent channel's growing pull on wirehouse-affiliated advisors. The dual defection is the latest sign that Ameriprise's advisor base is not immune to the broader industry migration toward independent platforms, even as the firm has posted strong retention numbers in recent quarters.

In the Phoenix metro area, Hoyt Jensen & Associates left Ameriprise to affiliate with Undefined Gridlines, an Osaic OSJ. The practice, led by advisors Justin Hoyt and Jason Jensen, oversees roughly $190 million in client assets. Hoyt cited Osaic's "advisor-centric culture, flexible independence model, robust technology and planning platforms" as drivers of the move, adding that the partnership should help deliver "a more customized, forward-thinking experience for clients" while setting up the practice for long-term scalability and succession planning.

The Hoyt Jensen team had been at Ameriprise for over a decade, building a practice focused on retirement planning and wealth preservation for mid-market families. Their decision to leave reflects a calculus that an increasing number of advisors are making: that the trade-off between wirehouse resources and independent flexibility now tilts decisively toward independence. At Osaic, they gain access to an open-architecture product platform, custodial flexibility, and the ability to set their own fee schedules — benefits that were not available to them under the Ameriprise umbrella.

On the East Coast, Westport Private Wealth in Westport, Connecticut joined through New York Financial Partners, another Osaic OSJ. Led by advisors Scott Mastocciolo and Stuart Gollomp, the team manages approximately $252 million in client assets. Mastocciolo said the team chose Osaic because its "leadership, vision and experience provide the foundation we were looking for as we build an independent firm focused on long-term growth and exceptional client service."

Westport Private Wealth had operated within the Ameriprise system for several years, primarily serving high-net-worth clients in Fairfield County. The firm's client base is heavily concentrated in corporate executives and entrepreneurs, a demographic that increasingly expects customized solutions rather than the standardized offerings typical of larger platforms. Gollomp noted that the move allows them to offer alternative investments and direct indexing strategies that were previously restricted.

Erinn Ford, executive vice president of advisor engagement and co-head of the independent channel at Osaic, said the firm's platform is designed to help advisors grow and plan for the future of their businesses, supporting teams that "want to maintain independence while tapping into scale and shared resources." Ford added that Osaic's OSJ model specifically appeals to advisors who want local mentorship and operational support alongside a national infrastructure.

The additions extend Osaic's recruiting momentum in early 2026. The firm, which manages over $250 billion in total client assets across its network of independent practices and broker-dealer affiliations, has been steadily building its footprint in markets where wirehouse-affiliated advisors are exploring their options. Osaic completed more than 40 recruiting transitions in 2025, and the pace appears to be accelerating.

For Ameriprise, the departures represent a modest headcount loss but raise questions about whether its hybrid model — part employee, part franchise — can compete effectively against fully independent platforms. Ameriprise has historically retained advisors at rates exceeding 95%, but the firm's 2025 compensation adjustments introduced higher production thresholds for top-tier payouts, a move that some advisors viewed as squeezing margins on mid-tier producers.

The broader pattern is clear. According to Cerulli Associates, the independent broker-dealer and RIA channels captured a net $185 billion in advisor-driven asset flows in 2025, the highest annual total on record. Platforms like Osaic, LPL Financial, and Raymond James have been the primary beneficiaries, offering economics that can deliver 10 to 20 percentage points more in take-home pay for advisors willing to manage more of their own business operations.

For advisors weighing a similar move, the math is straightforward. A $200 million practice generating $1.5 million in revenue at a wirehouse payout of 40% nets $600,000. That same practice at an independent platform paying 85% nets $1.275 million — a difference that compounds meaningfully over a career. The question is whether the operational burden of independence and the loss of wirehouse branding justify the trade-off. For the two teams that joined Osaic this month, the answer was unambiguous.