Osaic has recruited a large financial advisor team from LPL Financial, where it managed $2.3 billion. ICG next, based in Wall Township, N.J., joined Osaic on Thursday. Osaic announced the move on Tuesday.
The practice includes 21 advisors and 10 support staffers, catering to mass-affluent and high-net-worth clients, including multigenerational families. It maintains a second office in Melville, N.Y.
ICG is led by James Costabile, who says that his practice opted for Osaic after considering affiliating with several other firms. "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," he says.
A spokeswoman for LPL didn't immediately respond to a request for comment on the departure.
Costabile first registered as an investment advisor in 2002 with Ameriprise and as a broker with IDS Life Insurance Company, an Ameriprise subsidiary now known as RiverSource Life Insurance Company. He joined LPL in 2019, according to registration records.
His team joins Osaic as a 1099 practice, the affiliation model that accounts for about 80% to 85% of the assets on Osaic's platform. An Osaic representative says that incoming advisor recruiting was up 70% in the first half of 2026 compared with the same period last year.
Costabile explains that his practice was initially named Intellectual Capital Group, but rebranded in 2019 to ICG next "as a play on the concept of what was the next chapter for our firm. This stemmed from so much of our work being dedicated to what was 'next' for our clients."
The practice has nearly tripled in size since 2019, and at Osaic it intends to continue to expand through recruiting and acquisitions, as well as organic growth. ICG says it is primarily looking to expand in the New York metro area and elsewhere on the East Coast and is recruiting advisors at all stages of their careers, including new entrants to the industry and older practitioners planning their succession.
"James and his team are thinking intentionally about what the firm needs to remain relevant, sustainable and positioned for the next generation," says Shannon Reid, Osaic's president and head of advisor growth and engagement. "That entrepreneurial mind-set aligns closely with Osaic, and we look forward to providing the scale, infrastructure, and hands-on partnership to help them pursue their vision."
Comments