Joseph Ruzycki, the founder and CEO of the Center for Wealth Planning, is converting the extra large office of supervisory jurisdiction, or super-OSJ, into an independent registered investment advisor firm that custodies with LPL Financial. As of Feb. 28, the super-OSJ had 65 advisors managing $2 billion in brokerage and advisory client assets.
Troy, Mich.-based CWP has used LPL’s corporate RIA and broker/dealer since it launched in 2005, and Ruzycki said the transition gives the firm the flexibility to support multiple business models. Advisors can operate under CWP’s new RIA firm or continue to act as an investment advisor representative under the LPL corporate RIA and b/d.
“After considering a number of avenues to support our continued growth in the coming years, LPL Financial’s independent RIA platform emerged as a clear choice for providing our advisors with the tools and flexibility they need to continue to build their practices in the years ahead,” Ruzycki said in a statement.
CWP targets advisors with client assets between $50 million and $100 million. The firm helps them expand their business with a combination of practice management, compliance, client service and business process expertise.
Matthew Enyedi, LPL’s executive vice president for RIA and high net worth solutions, said the win is a testament to LPL’s ability to be a “single go-to resource” that supports the broadest possible array of business models.
