Avantax, the tax and RIA focused broker/dealer acquired by Cetera Holdings last yearhas added Noble Oak Financial, a team of advisors in Augusta, Ga. Advisors Josh Linton and Mike Koltz joined from LPL Financial, where they managed approximately $300 million in client assets.
Both previously ran the wealth management business for Queensborough National Bank and Trust Co. and decided that running their practice was worth the rewards. They are joined by Director of Operations and Customer Services Danielle Boutwell.
“What we really liked about Avantax is that they're big enough to have all the tools and resources advisors need, while being small enough that you don't get lost in the crowd,” Linton said in a statement.
The team also liked Avantax's tax focus and access to tools to help them deliver tax-efficient strategies to their clients.
This follows news last week that Avantax added a team based in Long Island, NY from Osaic. The S&P Financial Services team, led by advisors John Surace and Kelly Powers, manages approximately $150 million in client assets under administration.
At the end of last year, Cetera closed on acquiring Avantax for $1.2 billion, with shareholders cashing in $26 per share. The deal took Avantax private, with the tax-focused firm operating as a separate division within Cetera, adding more than 3,100 financial advisors to its broker/dealer network. Avantax had $92.8 billion in assets under management at the end of 2023.