Osaic Wealth Inc Review: Is It a Legitimate Brokerage Firm

Osaic Wealth Inc is a relatively new player in the online brokerage market, but its presence has sparked interest among investors.

According to available information, Osaic Wealth Inc is registered with the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), which is a good sign of legitimacy.

Osaic Wealth Inc offers a range of investment products, including stocks, options, and ETFs, through its online trading platform.

The company's fees are competitive, with a base rate of $0.005 per share for stock trades, and a $1.00 flat fee for options trades.

Osaic Wealth has been involved in numerous regulatory problems, with over 46 state and self-regulatory body disclosure events initiated by authorities for violations of investment-related rules or regulations. This includes hundreds of customer complaints filed against the firm for misconduct by its securities sales and investment advisory representatives.

The firm has been repeatedly censured, warned, and fined multi-millions of dollars for its own misconduct and failure to supervise its financial advisors. In one notable case, Osaic Wealth was fined $35,000 and ordered to pay $71,500 plus interest in partial restitution to customers for failing to disclose required SEC filings, including audited financial statements.

Independent broker-dealers like Osaic Wealth often have lax supervisory practices and procedures, which can put investors at risk. This is because the firm's business model is designed for rapid growth and steady monthly revenues, rather than prioritizing investor protection.

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Osaic Wealth has a history of regulatory problems, with over 46 state and self-regulatory body disclosure events initiated by regulatory authorities for violations of investment-related rules or regulations.

These events have resulted in hundreds of customer complaints filed against Osaic Wealth for misconduct by its securities sales and investment advisory representatives.

Osaic Wealth has been repeatedly censured, warned, and fined multi-millions of dollars for its own misconduct and failure to supervise its financial advisors.

The firm has failed to tell investors about missing SEC filings, including audited financial statements, which is a serious regulatory issue.

FINRA has censured and fined Osaic Wealth $35,000 and ordered it to pay $71,500 plus interest in partial restitution to customers.

Osaic Wealth has also failed to report hundreds of customer complaints filed against the firm, which is a major red flag for investors.

The firm's supervisory lapses and failure to report customer complaints have led to numerous disciplinary proceedings against Osaic Wealth.

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If you've lost money due to a company's misconduct, you have the right to sue, but you may have signed away your right to sue in court.

Attorney Robert Wayne Pearce has over 40 years of experience in FINRA arbitration proceedings.

You can sue Osaic Wealth in FINRA arbitration proceedings, but you need to know if you have a viable case.

The easiest way to determine this is to call Attorney Pearce at his office.

You can win an arbitration against Osaic Wealth with the right attorney on your side.

Osaic Wealth has a history of regulatory problems, with 46 state and self-regulatory body disclosure events, including fines and censures for supervisory lapses and misconduct.

These events are not isolated incidents, as Osaic Wealth is a repeat offender with over 46 FINRA-reported disciplinary proceedings, citing the firm with one form of supervisory lapse or another.

The company's supervisory practices have been criticized, with FINRA censuring and fining Osaic Wealth $35,000 and ordering it to pay $71,500 plus interest in partial restitution to customers, after the firm failed to tell investors about missing SEC filings.

Independent broker-dealers like Osaic Wealth often have lax supervisory practices, with registered representatives operating as separately incorporated businesses, not controlled in the same manner as full-service brokerage firm representatives.

This can leave investors vulnerable to sales of securities that have not been reviewed or authorized by anyone other than the sales representative earning a commission.

Osaic Wealth has 87 disclosures on file, 49 of which are regulatory events involving the company and its investment advisor representatives (IARs), which can be checked on the SEC's Investment Adviser Public Disclosure search tool (IAPD) or FINRA's BrokerCheck.

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Osaic Wealth, a registered investment advisor and broker-dealer, has a history of regulatory problems and customer complaints.

There have been approximately 46 state and self-regulatory body disclosure events initiated against Osaic Wealth, including final and formal proceedings for violations of investment-related rules or regulations.

Independent broker-dealers like Osaic Wealth often have lax supervisory practices and procedures, which can leave investors vulnerable to sales of securities that haven't been reviewed or authorized.

The typical supervisory organization of independent broker-dealer operations involves having other independent contractors operate Offices of Supervisory Jurisdiction (OSJs) to monitor registered representatives from geographically remote offices.

Osaic Wealth has been repeatedly censured, warned, and fined multi-millions of dollars for its own misconduct and failure to supervise its financial advisors.

The firm has also been fined $500,000 for failing to adopt and implement policies and procedures to prevent unsuitable investments and Volatility-Linked Exchanged Traded Products (ETPs) sales practice violations.

Osaic Wealth has 87 disclosures on file, 49 of which are regulatory events involving the company and its investment advisor representatives (IARs).

The firm has been fined $400,000 for ignoring red flags of employees' theft from customers and has also been censured and fined $350,000 for Multi-Share Class Variable Annuities sales violations.

Independent broker-dealer operations often have only one compliance audit visit per year at many of these offices, leaving investors vulnerable to sales abuse and investor losses.

Osaic Wealth's fee structure is based on the type of service you need. They charge a wrap- or non-wrap-fee for investment management services, depending on your account.

For the Advisor Managed Portfolios Program (VISION20), you can expect a wrap- or non-wrap-fee. This is also the case for the Unified Managed Account Program (VISION20), which charges a wrap-fee.

Financial planning services come with a fixed- or hourly-fee. Non-discretionary investment advice, on the other hand, can cost anywhere from $500 to $15,000 as a fixed-fee, or $50 to $750 per hour.

The Signator Managed Account charges a wrap-fee, while the Plan Participant Retirement service costs up to 3% of your assets annually. Retirement Plan Consulting fees can be fixed, hourly, or based on a percentage of your assets.

Here's a breakdown of Osaic Wealth's fee structure:

Osaic Wealth earns revenue through an advisory fee, charged either through a wrap fee or at a fixed or hourly rate.

The firm also receives compensation as a broker-dealer, charging brokerage fees to conduct transactions.

Osaic Wealth was sanctioned by the SEC for failing to adopt and implement policies to prevent unsuitable investments in Volatility-Linked Exchange Traded Products.

The SEC alleged the firm's investment advisers used their discretionary authority to buy and hold complex ETPs for time periods inconsistent with the product's purpose.

Osaic Wealth was ordered to pay a $500,000 fine for these sales practice violations.

It's essential to be cautious when dealing with Osaic Wealth Inc due to high levels of opacity and unregulated investment.

The company's improbably high returns and lack of regulatory requirement raise serious doubts about its legitimacy.

You should only deal with registered and regulated financial services companies to protect yourself and your finances.

Searching for companies registered with the SECP or other well-known regulatory bodies is a good starting point.

Numerous online investment platforms provide opportunities with clear and transparent regulation and security, making them a safer choice.

Our goal is to help you make informed decisions in the markets by shedding light on companies like Osaic Wealth Inc.

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