ICG next, a New Jersey-based wealth management firm overseeing about $2.3 billion in client assets, has joined Osaic from LPL Financial as it prepares for its next growth phase.
Headquartered in Wall Township, New Jersey, ICG next is led by Managing Partner James A. Costabile, CRPC, CLTC, AIF, alongside approximately 21 financial advisors and a team of client service and operations professionals. The firm also operates an office in Melville, New York, giving it a presence across the New York/New Jersey tri-state area.
ICG next serves mass-affluent and high-net-worth families, focusing on comprehensive financial planning, multigenerational wealth management, stewardship, and high-touch client service. The firm helps clients align financial decisions with broader personal, professional, and family objectives.
ICG next selected Osaic after evaluating several major wealth management firms. Factors influencing the decision included access to Osaic’s senior leadership, support for recruiting and acquisitions, and the ability to operate and serve clients through the Fidelity National Financial Services platform.
The transition comes as ICG next continues an expansion strategy combining organic growth, advisor recruiting, and acquisitions. The firm has nearly tripled since 2019 and plans to keep expanding primarily along the East Coast, with a particular focus on the New York/New Jersey tri-state area.
ICG next is targeting both early- and mid-career financial advisors seeking resources to expand their practices and later-career advisors looking for succession solutions. Osaic plans to provide infrastructure, technology, advisor services, and business development resources to support that strategy while allowing ICG next to maintain its existing culture and approach to client relationships.
The addition also expands Osaic’s advisor network, which supports more than 10,000 financial professionals. Osaic, a portfolio company of Reverence Capital Partners, has added established wealth management businesses to its platform, including Midwest Financial Group from Commonwealth.
Osaic said it will continue investing in technology, advisor services, and growth capabilities designed to help affiliated practices expand while maintaining flexibility over how they operate and serve clients.
KEY QUOTES:
“We’ve built ICG next around comprehensive advice, long-term stewardship and what we call ‘caring competence.’ This combines deep expertise with a genuine commitment to the families we serve. As we thought about what’s next for our clients, our advisors and our business, we wanted a partner that understood what makes ICG next distinctive while giving us the scale and support to reach our strategic objectives. Our conversations with Osaic’s leadership, combined with the direction of the organization and its commitment to helping firms grow, while still focusing on our core value of client service gave us confidence that we had found that alignment.”
James A. Costabile, Managing Partner Of ICG Next
“ICG next has built an impressive enterprise by combining a clear growth vision with a deep commitment to the families it serves. James and his team are thinking intentionally about what the firm needs to remain relevant, sustainable and positioned for the next generation. That entrepreneurial mindset aligns closely with Osaic, and we look forward to providing the scale, infrastructure and hands-on partnership to help them pursue their vision while staying true to the client experience that has driven their success.”
Shannon Reid, President And Head Of Advisor Growth And Engagement At Osaic
