20 Acquisitions in 20 Months Fuel Significant Growth of Avantax’s Employee-based RIA Model
14 Novembre 2022 - 3:15PM
A series of acquisitions has helped the Avantax® employee-based
model to significantly grow total client assets and its geographic
footprint. Two years ago, Avantax’s employee-based model had
approximately $4.4 billion in total client assets, and a national
footprint with a focus on the Midwest. Now, after a series of
acquisitions complemented by organic growth, the employee-based
model has grown total client assets to more than $7 billion (as of
Sept. 30, 2022) while expanding its footprint to the West Coast,
the Northeast, the Southeast and Texas. Avantax refers to its
employee-based model as Avantax Planning Partners℠.
Some of the Avantax firm acquisitions include the
wealth management business of the following:
- West Coast: Carey & Hanna Tax
& Wealth Planners in California
- Northeast: Headquarters Advisory
Group, LLC in New Jersey; and Warner Finance in Pennsylvania
- Southeast: The wealth management
practice of veteran financial advisor Jeffrey Steinberg in
Florida
- Texas: Strait Financial, LLC in
Texas
Avantax’s flexible approach to affiliation is
attractive to many independent Financial Professionals because no
two transactions are the same.
“We create solutions for independent Financial
Professionals that fit whatever route they want to take for
themselves, their business and their clients, whether that’s a
succession plan over a number of months or years, or if it’s a
growth strategy enabling them to shed business administration and
back-office responsibilities to focus on serving current clients
and prospecting for new clients,” said Todd Mackay, President,
Wealth Management at Avantax. “When I talk with Financial
Professionals looking for options, the most important thing to
them, almost universally, is flexibility. We have successfully
created flexible solutions for every unique path Financial
Professionals want to take, and we are deeply committed to this
approach.”
Avantax has two distinct, but related, models
within its business: the employee-based model and the independent
Financial Professional model. Avantax’s unique foundation was
formed by combining three pioneers in tax-focused financial
planning – HD Vest, 1st Global, and HK Financial Services. The
firms’ decades of tax-centric practice management, investment
solutions and overall growth experience offer independent financial
professional and accounting firms multiple ways to affiliate and
grow.
About Avantax Planning Partners℠ (the
employee-based model)Avantax Planning Partners℠ is an
employee-based RIA (registered investment advisor), insurance
agency, and wealth management business that partners with CPA firms
to provide their consumer and small-business clients with holistic
financial planning and advisory services, as well as retirement
plan solutions through Avantax Retirement Plan Services. Avantax
Planning Partners and CPA firms help clients pursue their financial
goals through strategies such as asset management, estate planning,
retirement planning, tax planning, risk management and more.
About Avantax Wealth Management® (the
independent Financial Professional model)Avantax Wealth
Management® provides tax-focused wealth management solutions for
financial professionals, tax professionals, CPA firms, and their
clients. Avantax Wealth Management offers its services through its
registered broker-dealer, registered investment advisor, and
insurance agency subsidiaries and is a leading U.S. tax-focused
independent broker-dealer. Avantax Wealth Management works with a
nationwide network of financial professionals that operate as
independent contractors. Avantax Wealth Management provides these
financial professionals with an integrated platform of technical,
practice, compliance, operations, sales, and product support tools
that enable them to offer tax-advantaged planning, investing, and
wealth management services to their clients.
The wealth management segment of Blucora, Inc.
(NASDAQ: BCOR), which includes the Avantax Wealth Management® and
Avantax Planning Partners℠ brands, had a collective $73 billion in
total client assets as of September 30, 2022. For more information,
please visit us at www.avantax.com or on LinkedIn and Facebook.
Media Contacts:Tony Katsulos
Avantax(972) 870-6654pr@avantax.com
Kendra GalanteStreetCred PR for Avantax(402)
740-2047kendra@streetcredpr.com avantax@streetcredpr.com
Grafico Azioni Blucora (NASDAQ:BCOR)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Blucora (NASDAQ:BCOR)
Storico
Da Giu 2023 a Giu 2024