Osaic, one of the largest independent broker-dealer networks in the U.S., has filled two senior leadership vacancies with outside hires, signaling a continued effort to stabilize its executive ranks after a wave of departures earlier this year. The firm announced Thursday that Manish Shrivastava will join as chief marketing officer, while Tom Metzger will take over as head of Empowered Independence, the company's W-2 affiliation model for advisors seeking succession solutions.
Shrivastava brings more than a decade of consumer marketing experience, having served as chief marketing officer at PulteGroup, the homebuilding giant, for 12 years. His resume also includes senior roles at Coca-Cola, Home Depot, and Procter & Gamble. In his new role, based in Atlanta, he will oversee brand strategy, communications, growth marketing, and go-to-market initiatives. His mandate is twofold: attract more advisors to Osaic's platform and help existing advisors win and retain clients. This marks his first foray into the wealth management industry.
Metzger, most recently head of private wealth at Citizens Financial, will lead Empowered Independence, a channel that has been gaining traction among established advisory teams exploring succession planning. At Citizens, he helped build a national wealth platform with approximately $30 billion in client assets, 18 advisory teams, and more than 200 professionals. His earlier career included leadership positions at First Republic Bank, Wells Fargo, and JPMorgan Chase. Based in San Francisco, Metzger will focus on recruiting high-performing advisors and managing their transitions into the W-2 model.
The appointment of Metzger comes as Osaic's Empowered Independence channel has seen significant growth. In February, Bard Financial Services, a $1.2 billion firm, moved into the W-2 model. In April alone, Gateway Investments and Pointes North Wealth Management added more than $2 billion in combined assets to the channel. These moves underscore the channel's appeal to advisors seeking liquidity and succession options without leaving the independent space.
Cindy Hamel, who previously led Empowered Independence through a busy period of team transitions, is being reappointed as head of business operations and execution. In this new role, she will be responsible for converting Osaic's strategy into an operational plan and ensuring alignment across advisor-facing teams. Hamel had earlier played a central role in the firm's acquisitions and its Journey to One consolidation initiative.
The leadership additions come after a turbulent year for Osaic. Several top executives departed, including Jen Roche, former executive vice president of marketing and communications, who left in August 2024 to join LPL Financial. More recently, Dimple Shah, executive vice president of strategy and client experience, left in May, reportedly after being passed over for advancement following the arrival of Shannon Reid as president and head of advisor growth and engagement. Reid, a Raymond James veteran hired at the end of last year, has been central to the reshuffling.
Industry observers note that Osaic's ability to attract seasoned executives from outside the wealth management space reflects its ambition to differentiate itself in a competitive broker-dealer market. The firm has also been active in recruiting advisor teams, including a $2.3 billion LPL team earlier this year, and has seen a steady stream of firms joining its network, such as Freehold Wealth Management, a $576 million South Carolina firm.
Shrivastava's appointment also highlights a broader trend of consumer brands bringing marketing expertise to financial services. His experience in building brand loyalty in retail and homebuilding could help Osaic strengthen its identity among advisors and their clients. The firm's previous major rebranding effort, from Advisor Group to Osaic, was led by Roche, and it remains to be seen how Shrivastava will build on that foundation.
As Osaic continues to integrate its acquisitions and refine its service model, the new executives will face the challenge of maintaining momentum while addressing the cultural and operational complexities of a large, diverse network. The firm's focus on the W-2 channel, in particular, is seen as a strategic response to the growing demand for succession solutions among aging advisors. With Metzger's experience in building wealth platforms at major banks, he is expected to bring a fresh perspective to this effort.
