Osaic is building on its inorganic growth strategy in the Midwest as another advisory team joins its ranks in Kansas.
Osaic announced that it has added another sizable firm to its roster on Monday with the acquisition of NoxNumis, a Wichita-based wealth management business overseeing more than $450 million in client assets.
The latest move underscores Osaic’s ongoing strategy of targeted acquisitions aimed at bolstering its national footprint and technology-enabled advisor platform.
Led by private wealth managers John Toothaker and Ron Gabel, NoxNumis provides fiduciary advice with a focus on retirement planning, tax and estate strategies, and succession planning for businesses and farms.
Toothaker has 23 years of experience as a registered broker including previous affiliations with Hornor, Townsend & Kent and Securities America, according to his BrokerCheck profile.
Meanwhile, Gabel's registration history spans 14 years and was spent entirely at Hornor, Townsend & Kent.
The firm’s multi-disciplinary team includes five wealth managers, an insurance agent, and two operations leaders, supported by an extended client service group.
In a statement, Toothaker cited Osaic’s investment platform and integrated tech stack as key drivers behind the decision.
Gabel also highlighted prospects for future acquisitions from the Osaic's scale and community of advisors.
With access to Osaic’s expanded shelf of investment options and more competitive pricing, NoxNumis advisors are expected to offer more diversified portfolios to clients. The integration also enhances the firm’s efficiency through the adoption of AI-powered tools like Jump and Zocks.
Osaic, a portfolio company of Reverence Capital Partners, supports about 11,000 financial professionals across the US.
In January, the firm announced a partnership with Navy Federal Investment Services to expand its institutional relationships, unlocking an opportunity to provide enhanced wealth management solutions to a broader client base.
The following month, it absorbed Payant Wealth Management Group, a $360 million RIA firm, into its W2 employee affiliation channel. Osaic chose to launch the W2 employee advisor channel in 2023, the same year it officially shed its former identity, Advisor Group, as part of a strategic brand relaunch.
More recently, it tapped Saumya Bhavsar, a veteran legal expert formerly with Meta Fintech, to lead its legal strategy by helping the firm and its advisors navigate regulatory changes.
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Meanwhile, a Minnesota-based advisor from Edward Jones has found a new home within Osaic.
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