The Oklahoma Securities Department has ordered a Texas-based financial advisory firm that markets itself as providing “no-risk” investment advice to seniors to stop doing business in the state.
Mansfield, Texas-based Novers Financial has attempted to sell unregistered securities in Oklahoma and its partners, who claim to be certified investment advisers, are unlicensed, the Securities Department claims in a cease-and-desist order filed Tuesday against the company.
The Facebook page maintained by Novers Financial contains numerous photographs of partners J. Brady Speers and Christopher A. Novinger smiling with elderly clients in Oklahoma and Texas, and its website advertises ways that seniors can invest their Social Security benefits.
Novus maintains an Oklahoma City office at the Cross Rock office park at 3600 NW 138 St.
Neither Speers nor Novinger have ever been licensed to sell securities or to be investment advisers in Oklahoma — or in any other state, the Securities Department claims in its order.
Attempts to reach Speers and Novinger were unsuccessful on Tuesday.
A receptionist at the company's Mansfield office said neither Speers nor Novinger were available.