By Kenneth Corbin

A large Wisconsin financial advisory team managing $750 million in assets has left Osaic to join LPL Financial. The Waznik Heike Group, which counts 11 advisors, is moving to LPL's broker-dealer, custodial, and registered investment advisory platform, the firm says.

Headquartered in Menomonie, a small town in northwest Wisconsin about an hour east of the Twin Cities, the practice serves the western Wisconsin and eastern Minnesota markets. In addition to the headquarters, it also has offices in the Wisconsin towns of Durand, Eau Claire, Rice Lake, and Superior.

The practice is led by veteran advisors Brad Waznik and John Heike. Waznik entered the industry in 1987 with American Express Financial Advisors. Heike, a Certified Financial Planner, began his advisory career in 2008 with Woodbury Financial Services.

"We were looking for a partner that was committed to helping us provide a next-level client experience, and we found that partner with LPL," Waznik says, citing LPL's technology and support for back-office operations. "Plus, LPL is self-clearing, which is a bonus."

The move comes as LPL is working to retain advisor practices affiliated with Commonwealth Financial Network, a smaller rival that the firm is acquiring. It is also working to build out its banking services and access to alternative investments in a bid to compete with the large national brokerage houses.

In addition to Waznik and Heike, the team includes advisors Gene LaRock, Steve Helling, Kyle Thorpe, Jon Storing, Tyler Schroyer, Coltin Brehm, Jerry Hagman, Bryan LaVoy, and Sam Ferch.

The principals come to LPL after less than 18 months with Osaic, which declined to comment on the departure.

The practice specializes in retirement planning, and also offers business consulting, insurance, and tax planning services.

"Many of our clients are nearing or in retirement, and they have questions about how to be financially responsible while making the most of their golden years," Heike says. "It's our role to help them answer their questions, make decisions and help take that stress off their shoulders."

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

July 15, 2025 12:32 ET (16:32 GMT)

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