A team of advisors in Wichita, Kan., with over $450 million in client assets, has moved its book of business to Osaic. The firm, NoxNumis, was previously affiliated with Hornor, Townsend & Kent.
NoxNumis was founded in 2021 by partners John Toothaker and Ron Gabel. Prior to that, they were partners at Schreck Financial Group, another Wichita-based firm. Toothaker and Gabel are joined by five wealth managers, an insurance agent, two operations executives and client service specialists.
Toothaker said they were attracted to Osaic for its investment platform, technology, coaching and consulting services. Osaic recently announced integrations with Jump, a startup that has built an AI assistant for financial advisors, and Zocks, which provides AI notetaking capabilities.
“When the time is right, Osaic’s scale and access to their community of advisors is also going to dramatically increase our prospects for future acquisitions,” Gabel said in a statement.
This follows news last month that Ever Wealth, a team of three advisors with about $170 million in client assets, joined Affiliated Advisors, an Osaic office of supervisory jurisdiction, from LPL Financial. Osaic has lost several affiliated advisors to LPL in recent months.
In February, WealthManagement.com reported that Tim Hodge, an executive vice president of operations and technology solutions at Osaic, had left the company. Matt Schlueter, an executive vice president of products and platform, has taken Hodge’s title. Prior to that, he was president of products and platforms.