Osaic announced Tuesday that ICG next, a Wall Township, New Jersey-based wealth management firm with about $2.3 billion in client assets under management, joined its advisory network.
ICG serves mass affluent and high net worth families and was formerly affiliated with LPL Financial. In addition to the New Jersey office, ICG has an office in Melville, New York. It will retain its branding, an Osaic spokesperson told WSR.
Led by Managing Partner James A. Costabile, the firm has approximately 21 financial advisors and a team of client service and operations professionals.
“We’ve built ICG next around comprehensive advice, long-term stewardship and what we call ‘caring competence,’” Costabile said in a press release. “This combines deep expertise with a genuine commitment to the families we serve.”
ICG has almost tripled in size since 2019 and plans to continue expanding via a combination of organic growth, advisor recruiting and acquisitions, according to the press release, with future expansion planned mainly along the East Coast, particularly in the New York/New Jersey area.
“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,” Costabile said.
Costabile added, “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.”
“ICG next has built an impressive enterprise by combining a clear growth vision with a deep commitment to the families it serves,” Shannon Reid, President and Head of Advisor Growth and Engagement at Osaic, said in the release. “James and his team are thinking intentionally about what the firm needs to remain relevant, sustainable and positioned for the next generation.”
“Osaic has seen meaningful recruiting momentum this year, but we do not measure success by the number of firms we add,” Reid told Wealth Solutions Report by email. “Our focus is on attracting high-quality advisors and teams that are the right fit for Osaic and where our platform, capabilities and partnership can help them grow.”
Reid continued, “Looking ahead, our growth strategy is broader than recruiting or acquisitions alone. We are focused on retaining and supporting our existing advisors, helping them grow their businesses, selectively adding high-quality advisors and teams, and expanding the ways we can serve financial professionals across the wealth management market.”
“That approach will continue into 2027, with an emphasis on sustainable organic growth and the advisor experience rather than hitting a specific transaction or headcount target,” she added.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
