Gateway Investments and Retirement Advisory Services Corp, a Garden City, New York-based advisory team led by Managing Director Thomas Santucci, has transitioned approximately $1.5 billion in assets under administration to Osaic’s Empowered Independence W-2 channel. The six-advisor team has been affiliated with Osaic since 2004 through its 1099 channel and made the strategic decision to move to the W-2 structure to streamline operations and dedicate more time to client relationships. The transition also reflects a deliberate investment in the development of the firm’s next generation of advisors, a priority that the Empowered Independence model is specifically designed to support.
Osaic’s Empowered Independence model is designed for growth-oriented firms seeking greater operational leverage while maintaining the flexibility to deliver personalized advice. The model combines the benefits of independence with the scale and support of a fully integrated platform, enabling advisors to focus on client outcomes and long-term business development rather than operational administration. For a team like Gateway Investments — which has built its practice on comprehensive wealth management, retirement planning, and estate planning services over more than two decades — the transition represents a natural evolution rather than a departure from its existing identity.
The transition is the latest in a series of moves to Osaic’s Empowered Independence channel, which has been expanding steadily. Earlier in April, Pointes North Wealth Management transitioned to the channel, adding more than $2 billion in assets. Together, these additions reflect the growing appeal of the W-2 model among established advisory teams that want to retain their independence while accessing the infrastructure, technology, and support of a scaled platform. Osaic says its platform is designed to evolve alongside the changing needs of advisors, particularly those focused on scaling their businesses and investing in future leadership.
Osaic is a portfolio company of Reverence Capital Partners and one of the nation’s largest providers of wealth management strategies, supporting over 10,000 financial professionals. Cindy Hamel, head of Empowered Independence at Osaic, described the Gateway Investments team as having built a highly respected practice grounded in client service and long-term relationships, and said their decision to transition underscores the value of a platform that helps advisors grow, develop talent, and spend more time where it matters most — serving clients. The announcement comes the same day as Reverence Capital Partners closed a more than $2 billion recapitalization of Osaic.
KEY QUOTE:
“Transitioning to Osaic’s Empowered Independence model allows us to focus more of our time on those relationships while also investing in the future of our firm and the next generation of advisors. It’s a natural evolution of a partnership we’ve built over more than two decades.”
Thomas Santucci, Managing Director, Gateway Investments
