DALLAS – (Nov. 2, 2021) – Avantax®, a leader in tax-focused financial planning, has acquired Pennsylvania-based Warner Finance, with approximately $258 million in total client assets as of Oct. 11, 2021. The transaction expands the presence of Avantax’s employee-based RIA (registered investment advisor) while enabling the Warner team to focus on new growth opportunities as they leverage the significant staff, technology and resources of Avantax.
“After successfully growing my business for many years, I was interested in a path that would monetize my business but also let me focus more on serving my clients and less on the day-to-day dealings of running an office. I also wanted to branch out into different areas, and bring some exciting new offerings to clients,” said Stanley B. Warner III, CPA, MBA, President of Warner Finance. “Transitioning to Avantax’s employee-based RIA lets us become part of an even larger financial planning effort, and now we can grow more of a regional business. That growth component and the ability to work on new opportunities is what’s so exciting.”
As part of the transaction, Warner and Financial Professional Ann Tracy have continued with the Avantax community, becoming Financial Planning Consultants with Avantax Planning Partners℠. Their three staff members have stayed with the Warner team as Avantax employees.
Warner noted that direct access to Avantax’s senior leadership factored into his decision.
“The open-door and open-communication policy of top management was a 100% factor. When I initially emailed Todd about possibilities, he got back to me within 24 hours so we could discuss details,” Warner said. “I like the way Avantax works. Being part of Avantax for the long haul is definitely the best thing for me, my team and our clients.”
The Warner Finance transaction follows Avantax’s acquisition of New Jersey-based Headquarters Advisory Group LLC. These two recent firm acquisitions further strengthen the footprint and capabilities of Avantax’s employee-based RIA through the Northeast.
“We couldn’t be more pleased with Stan’s decision because he’s shown the appetite and ability needed to achieve high growth while maintaining top client service, and that’s the recipe for success in our relationship-driven business,” said Louie Rosalez, President of Avantax Planning Partners℠. “This is an excellent strategic fit for Warner Finance and Avantax because we share the same intense client focus and commitment to comprehensive tax-smart financial planning. The support of Avantax and our team allows Stan more time to serve clients and grow his business throughout the Northeast.”
The Warner Finance transaction highlights how Avantax’s flexible affiliation models support the company’s commitment to Financial Professionals’ long-term success.
“When Stan first messaged me to explore evolving his relationship with Avantax, it was clear he was looking at this through the lens of his client base. He had two clear objectives: he wanted to grow and deepen his client relationships, and he wanted succession certainty, knowing that his clients would be served with the same intense focus down the road,” said Todd Mackay, President of Avantax Wealth Management®. “With Avantax’s multiple affiliation models, the sky’s really the limit for our Financial Professionals, whether in the independent model or by joining our employee model like Stan has done. In the end, our focus is always on the client and how Avantax and our Financial Professionals can profoundly impact clients’ lives by changing the way Americans plan and invest.”
The Avantax Wealth Management and Avantax Planning Partners brands are part of the wealth management segment of Blucora, Inc. (NASDAQ: BCOR), which had a collective $88 billion in total client assets as of June 30, 2021.
Avantax Planning Partners℠ is a national financial planning and wealth management firm that partners with CPA firms to combine and deliver holistic financial and tax-planning services to their clients. Using the Guidance Planning Strategies planning tool, Avantax Planning Partners visually lays out a long-term plan, considering a wide array of financial decisions and their potential impacts on clients’ financial health. Through this unique and proven approach, Avantax Planning Partners and CPA firms help clients make progress toward their financial goals through strategies such as asset management, estate planning, retirement planning, tax planning, risk management and more.
Avantax Wealth Management® offers a tax-advantaged approach for comprehensive financial planning. Avantax’s Tax-Smart approach helps clients leverage taxes to create financial growth opportunities. Most financial companies treat taxes as an afterthought, or not at all, even though taxes are one of life’s most complex and costly expenses. Avantax technology, tax and wealth management insights are used by Avantax Financial Professionals to uncover and tailor opportunities across their clients’ financial lifecycles to help enable better long-term outcomes. The wealth management segment of Blucora, Inc. (NASDAQ: BCOR), which includes the Avantax Wealth Management® and Avantax Planning Partners℠ brands, had a collective $88 billion in total client assets as of June 30, 2021. For more information, please visit us at www.avantax.com or on LinkedIn and Facebook.
Blucora, Inc. (NASDAQ: BCOR) is a provider of data and technology-driven solutions that empower people to improve their financial wellness. Blucora operates in two segments including (i) wealth management, through its Avantax Wealth Management℠ and Avantax Planning Partners℠ brands, with a collective $88 billion in total client assets as of June 30, 2021, and (ii) tax software, through its TaxAct business, a market leader in tax software with approximately 3 million consumer and approximately 24,500 professional users in 2021. With integrated tax-focused software and wealth management, Blucora is uniquely positioned to assist our customers in achieving better long-term outcomes via holistic, tax-advantaged solutions. For more information on Blucora, visit www.blucora.com.
Media Contact: Tony Katsulos, Avantax, (972) 870-6654, firstname.lastname@example.org
Investor Contact: Dee Littrell, Blucora, Inc., (972) 870-6463, IR@blucora.com
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