No commissions, no ads, no advice. This Osaic profile draws only on public records, each linked so you can confirm it yourself.

---

The short answer: is Osaic a fiduciary?

It depends on your account: Osaic is a fiduciary in its advisory programs, and follows the Regulation Best Interest standard as a broker. Publicly, it files with the SEC as Osaic Wealth (CRD #23131). As of its latest Form ADV (filed September 29, 2026), the firm reported $234.9 billion in regulatory assets under management, with about 575,512 clients by type (Form ADV Item 5.D). Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, hourly charges, and fixed fees. All of it sits on the public record, and confirming it for yourself takes only a few minutes.

The firm is a dual registrant, so the standard of care changes with the type of account you hold. In its advisory programs it acts as an investment adviser with a fiduciary duty. In brokerage accounts it acts as a broker-dealer under Regulation Best Interest (a best-interest obligation at the time of a recommendation, not a continuous fiduciary relationship). Our view: ask your Osaic adviser to confirm in writing which of your accounts are advisory and which are brokerage, because that one answer sets both the standard of care and the way you pay. Get started with Truthifi

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Osaic at a glance

✅ Verified from public filings, last checked October 5, 2026. Osaic (SEC CRD #23131) is a fiduciary in its advisory programs, on a fee-based basis, with $234.9 billion in regulatory assets under management. Every figure below links to its primary source.

What	Osaic	Source
SEC CRD	#23131	IAPD
Registration	Investment adviser and broker-dealer (dual registrant)	IAPD
Registered since	September 10, 1997 (SEC)	IAPD
Fiduciary?	Yes in advisory programs, Reg BI in brokerage	SEC Reg BI
Fee model	Fee-based (commissions + advisory)	Form ADV Item 5.E
How it's paid	A percentage of assets under management, hourly charges, and fixed fees	Form ADV Item 5.E
Regulatory Assets Under Management	$234.9 billion (Form ADV filed September 29, 2026)	IAPD
Clients and accounts	About 575,512 clients holding 850,797 accounts (full breakdown below)	IAPD
Employees	8,979 (7,143 in advisory roles)	IAPD
Ownership	Parent-owned	Form ADV Schedule A
Disclosures	Records carry disclosure items (common at this size). Review them directly	IAPD
HQ	Scottsdale, AZ	IAPD

---

Osaic fees: what you'll pay

Osaic fees depend on the account type: commissions in a brokerage account, an asset-based fee in an advisory program. In a brokerage account you generally pay commissions and product costs (mutual fund sales loads, markups, annuity commissions). In an advisory program you pay an asset-based advisory fee instead of per-trade commissions, plus the underlying fund expenses. Knowing which account you're in tells you what you're paying. Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, hourly charges, and fixed fees.

Fee-based means cost can come from both an advisory fee and commissions, depending on the account. Whether the advisory fee is worth it is a different question from whether it's high; Are you paying too much? Why that might be the wrong question walks through it.

Who owns Osaic, and what conflicts does it disclose?

Osaic is owned by Osaic, Inc., as listed in Schedule A of its Form ADV. (Form ADV Schedule A)

Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.

Osaic SEC record: disclosures

With 8,979 employees on its Form ADV, Osaic's regulatory records may carry disclosure items, and at that scale the number of disclosures is not by itself a measure of wrongdoing or of the firm's quality. Disclosure counts track headcount, not misconduct. A firm this size will show more total items than a small one because more people are registered under it. Whatever Osaic disclosures exist live on the public record, on FINRA BrokerCheck and the SEC's IAPD. Read them there, in context, rather than secondhand.

According to its Form ADV, it has been registered with the SEC since September 10, 1997, makes notice filings in 53 jurisdictions, and reports 8,979 employees, 7,143 of them in investment advisory roles. That is about 80% of staff in advisory work, which suggests a firm built around a large network of advisers rather than a small central team. If you're asking "is Osaic legit?", the public CRD answers that it is a real, regulated adviser. The more useful question is which of those 7,143 advisory staff you work with, and what that person's own record shows.

Reading Osaic reviews against the public record

Star ratings and client comments describe what working with one Osaic adviser felt like. Across a network this wide, a single review says little about the firm as a whole. Before you weigh Osaic reviews, check three things this profile takes from the public record. First, how the firm is paid: advisory accounts and brokerage accounts are paid differently, so the standard that applies depends on your account. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.

How to verify Osaic yourself

Three steps confirm all of it:

1. Check the SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/23131.
2. Read the filings (Form ADV / Form CRS): linked from the IAPD page.
3. Confirm the entity: match Osaic (CRD #23131, legal name OSAIC WEALTH, INC.) so you're reading the right firm.

What Osaic does and who it serves

On its Form ADV, Osaic reports providing financial planning, portfolio management for individuals, small businesses and institutions, pension consulting, selection of other advisers, and educational seminars.

It reports providing financial planning to about 18,000 clients in its last fiscal year (Form ADV Item 5.H), a count the form keeps separate from the client totals below.

Its Form ADV (Item 5.D) breaks its clients down by type, about 575,512 in all:

Client type	Clients	Assets managed
Individuals	513,910	$113.44 billion
High-net-worth individuals	55,457	$113.36 billion
Banking or thrift institutions	2	$985,309
Pooled investment vehicles	3	$224,391
Pension and profit-sharing plans	1,251	$1.07 billion
Charities	855	$1.60 billion
State or municipal government entities	10	$14.4 million
Corporations or other businesses	4,024	$5.37 billion

What the client table shows. High-net-worth individuals are about 9.6% of Osaic's clients (55,457 of about 575,512), yet they hold $113.36 billion. That is nearly the same as the $113.44 billion held by its 513,910 other individual clients, so each group accounts for roughly 48% of the $234.9 billion total. Put plainly, most Osaic clients are smaller accounts, while about half the money sits with a much smaller wealthy group. If you're in the larger group, it's fair to ask whether your advisory fee schedule has breakpoints and where your balance falls on it.

It reports 850,797 client accounts, more than the roughly 575,512 clients counted above (many clients hold more than one account), 575,960 discretionary (the firm can trade without seeking your approval first) and 274,837 non-discretionary (Item 5.F). That puts about 68% of accounts under discretionary authority. Its main office is in Scottsdale, AZ.

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.

---

The hard part isn't checking the firm. It's seeing your whole financial life.

With 850,797 accounts on its books, your Osaic adviser sees the accounts held at Osaic. An old IRA, a spouse's portfolio and fees buried below a standard statement often sit outside that view. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Osaic.

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Asking about your fees needs a Monitoring or Monitoring Plus+ plan rather than Connect alone, because those tiers include the fee breakdown; the pricing page compares what each tier adds. Get started with Truthifi · See how Truthifi keeps your accounts secure

Ask AI about your Osaic accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Osaic accounts and everything else, and how is it allocated?"
• "What am I paying in fees across all of these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Link up to 10 connections, per Truthifi platform data on current plan limits. Plans and limits are on the pricing page → truthifi.com.

---

FAQ

Is Osaic a fiduciary? It depends on your account. In its advisory programs it acts as a fiduciary. In brokerage accounts it follows the SEC's Regulation Best Interest standard. Ask which type of account you have.

What are Osaic's fees? They depend on the account. Brokerage accounts generally pay commissions and product charges. Advisory programs charge an asset-based fee instead of per-trade commissions, plus underlying fund costs. See the Form CRS.

Who owns Osaic? Osaic is owned by Osaic, Inc., as listed in Schedule A of its Form ADV.

Does Osaic have complaints or disclosures? Its regulatory records may carry disclosure items, as is common at its size. A disclosure is not proof of wrongdoing. Read any directly on BrokerCheck and the firm's Form ADV.

Is Osaic legit? Osaic is registered with the SEC (CRD #23131) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

---

About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

Read next from the Truthifi blog

• What is a fiduciary?
• Fee-only financial advisor: costs and how to find one
• Are you paying too much? Why that might be the wrong question
• How to ask AI about your real investment accounts
• Robo-advisor vs. human financial advisor: which is better?
• All advisor fact packs on Truthifi

---

A note on sources. The facts on this page come from publicly available documents, Osaic's SEC and FINRA filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Osaic. Regulatory records change, so always confirm against the official sources linked above. When Osaic files its next Form ADV amendment, the client-type table is the line worth rechecking first: a shift in the high-net-worth share could say more about where the firm is heading than any headline. Spot something that should be corrected? Email us at support@truthifi.com.