OSAIC adds $ 6 billion

The independent brokerage dealer Osaic revealed a partnership with Navy Federal Investment Services (NFIs) on Tuesday when the RIA subsidiary of the Navy Federal Credit Union tries to expand its footprint.

The partnership with NFIs adds 69 new advisers and almost $ 6.1 billion. On assets under administration to the Osaics Institution’s platform, a vertical that focuses on banks and credit unions. Greg Cornick, Osaics Executive Vice President of Advice and Wealth Management, Citywire told the partnership emerging from NFIS’s need for resources, including a specialized technology rack and marketing offerings.

“They not only loved that we were focused on the institution’s business, but our company and their business have a common belief in the standards we are trying to achieve,” Cornick said.