Avantax Adds $300M Team from LPL FinancialAvantax Adds $300M Team from LPL Financial
Advisors Josh Linton and Mike Koltz join from LPL Financial, where they led the wealth management business for a community bank.
Avantax, the tax-focused broker/dealer and RIA acquired by Cetera Holdings last year, has added Noble Oak Financial, a team of advisors in Augusta, Ga. Advisors Josh Linton and Mike Koltz joined from LPL Financial, where they managed about $300 million in client assets.
The two previously led the wealth management business for Queensborough National Bank and Trust Co. and decided that running their own practice was worth the rewards. They’re joined by Director of Operations and Client Services Danielle Boutwell.
“What we really liked about Avantax is they’re big enough to have all the tools and resources advisors need while being small enough to not lose you in the crowd,” Linton said in a statement.
The team also liked Avantax’s tax focus and access to tools to help them provide tax-efficient strategies to their clients.
This follows news last week that Avantax added a Long Island, N.Y.-based team from Osaic. The S&P Financial Services team, led by advisors John Surace and Kelly Powers, manages about $150 million in client assets under administration.
Late last year, Cetera closed on its acquisition of Avantax for $1.2 billion, with shareholders cashing out at $26 a 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 the broker/dealer network. Avantax had $92.8 billion in assets under administration as of the end of 2023.
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