Unlocking the Legalese: How AI Legalese Decoder can Simplify Lincoln Financial Group’s Sale of Wealth Management Business to Osaic, Inc.
- May 6, 2024
- Posted by: legaleseblogger
- Category: Related News
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# Lincoln Financial Group Completes Sale of Wealth Management Business to Osaic, Inc.
## RADNOR, Pa., May 06, 2024
Lincoln Financial Group (NYSE: LNC) has successfully finalized the sale of its wealth management business, along with all ownership interests in the Lincoln subsidiary entities forming that business, to Osaic, Inc. This strategic move, aimed at enhancing Lincoln’s operational efficiency and risk management capabilities, has yielded the company approximately $650 million in capital benefit. The infusion of capital will primarily be allocated towards bolstering Lincoln’s risk-based capital ratio, with a portion earmarked for reducing its leverage ratio.
The acquisition of Lincoln’s independent broker-dealer and registered investment advisory firms – Lincoln Financial Advisors Corporation (LFA) and Lincoln Financial Securities Corporation (LFS) – by Osaic was initially announced in December 2023. Through this transaction, a national network comprising around 1,450 financial professionals, in addition to Lincoln’s home-office employees supporting the wealth management business, will transition to Osaic. This transfer of assets marks the commencement of a long-term strategic partnership between Lincoln and Osaic, aimed at delivering enhanced financial solutions to clients through a robust network of financial professionals.
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## About Lincoln Financial Group
Lincoln Financial Group is dedicated to assisting individuals in planning, protecting, and retiring with confidence. Serving approximately 17 million customers as of December 31, 2023, across its core businesses – annuities, life insurance, group protection, and retirement plan services – Lincoln Financial Group remains committed to delivering value and innovative solutions. Headquartered in Radnor, Pa., Lincoln Financial Group operates under the marketing name Lincoln National Corporation (NYSE: LNC) and its affiliates. To learn more, visit LincolnFinancial.com.
For more information:
**Contacts:**
– Tina Madon
– 445-280-0488
– Investor Relations
– [email protected]
– Sarah Boxler
– 215-495-8439
– Media Relations
– [email protected]
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