Osaic has added Midwest Financial Group, a Madison, Wisconsin-based wealth management team overseeing $450 million in assets under advisement, to its advisor network.
Midwest Financial Group was previously affiliated with Commonwealth and has served families in Wisconsin and across the U.S. for nearly 35 years.
The firm operates an integrated model combining financial planning, wealth management, tax and accounting, insurance, Medicare and employee benefits.
Midwest Financial Group is led by Matt Cuplin, CEO and President, and Brandon Masbruch, CIO and Vice President, who have led the business for nearly a decade.
The team includes five advisors and financial planners, along with support staff and dedicated Medicare, tax and employee benefits teams.
Midwest Financial Group began evaluating its long-term home office relationship after the announcement that Commonwealth’s parent company, CFN, would merge with LPL.
Following an extensive due diligence process, the firm selected Osaic based on its technology, service model, advisor community and business development resources.
Through Osaic, Midwest Financial Group will gain access to technology, wealth management, operational and business development capabilities intended to support advisor efficiency and growth.
Osaic also provides financial professionals with investment solutions, back-office support and resources for practice growth and succession planning.
Osaic is a portfolio company of Reverence Capital Partners and supports nearly 10,000 financial professionals.
KEY QUOTES:
“We’ve spent the last decade building on MFG’s foundation and expanding the ways we can support the families we serve. Our team has never been stronger, and our capabilities have continued to evolve. Joining Osaic gives us another opportunity to build for the future while staying true to the relationship-driven approach that has defined our team for nearly 35 years.”
Matt Cuplin, CEO and President of Midwest Financial Group
“We didn’t make this choice lightly, and we remain grateful for the experience and relationships we had at Commonwealth. After an extensive search, Osaic stood out for the clarity of its vision, its commitment to service and the community it is building with advisors. We knew a transition would require significant work, but we believe this is the right long-term decision for the hundreds of families we advise and for our team at Midwest Financial Group.”
Brandon Masbruch, CIO and Vice President of Midwest Financial Group
“Midwest Financial Group has built a differentiated, integrated business around the needs of the families it serves. That entrepreneurial, client-focused approach is exactly what we want to support at Osaic. We’re excited to provide the flexibility and resources that can help MFG continue growing while preserving the strong client relationships at the heart of its business.”
Shannon Reid, President of Osaic and Head of Advisor Growth and Engagement
