Avantax, the tax-focused dealer/seller and RIA acquired by Cetera Holdings final 12 months, has added Noble Oak Monetary, a crew of advisors in Augusta, Ga. Advisors Josh Linton and Mike Koltz joined from LPL Monetary, the place they managed about $300 million in shopper belongings.
The 2 beforehand led the wealth administration enterprise for Queensborough Nationwide Financial institution and Belief Co. and determined that operating their very own apply was definitely worth the rewards. They’re joined by Director of Operations and Shopper Companies Danielle Boutwell.
“What we actually favored about Avantax is that they’re sufficiently big to have all of the instruments and assets advisors want whereas being sufficiently small to not lose you within the crowd,” Linton stated in an announcement.
The crew additionally favored Avantax’s tax focus and entry to instruments to assist them present tax-efficient methods to their shoppers.
This follows information final week that Avantax added a Lengthy Island, N.Y.-based crew from Osaic. The S&P Monetary Companies crew, led by advisors John Surace and Kelly Powers, manages about $150 million in shopper belongings beneath administration.
Late final 12 months, Cetera closed on its acquisition of Avantax for $1.2 billion, with shareholders cashing out at $26 a share. The deal took Avantax personal, with the tax-focused agency working as a separate division inside Cetera, including greater than 3,100 monetary advisors to the dealer/seller community. Avantax had $92.8 billion in belongings beneath administration as of the top of 2023.
