DALLAS – (Aug. 23, 2023) – Avantax®, a leader in tax-focused financial planning and wealth management, announced today that it has been named a finalist in the WealthManagement.com 2023 Industry Awards (the “Wealthies”) for Service Excellence among broker-dealers with 1,000 or more advisors. The annual WealthManagement.com Industry Awards celebrates the companies, individuals and organizations that demonstrate outstanding achievement in support of financial advisor success.
This finalist recognition reflects Avantax’s commitment to serving Financial Professionals, tax professionals and accounting firms seamlessly and in ways that enable them to grow their business. Under the leadership of Dan Kocher, VP, Service Excellence, and Todd Mackay, President of Wealth Management, Avantax embarked on an ambitious journey to transform its service offering. This undertaking included departmental restructuring, intensive training and education of team members, and significant technology enhancements.
As part of this multi-year endeavor, Avantax introduced tiered and regionalized service teams, enriching the client experience for its Financial Professionals. These teams were strengthened by a comprehensive training and mentoring program that boosted capabilities and fostered a success-driven mindset among both service team members and the Financial Professionals they serve. Additionally, Avantax empowered the service team with data tools to allow for a more proactive service consulting program to allow for Financial Professionals to be meaningfully more efficient in their day-to-day management of their business.
Avantax’s fanatical focus on Client Service resulted in significant operational improvements, including lower Not in Good Order (NIGO) rates, decreased call volume, improved paperwork processing efficiency, shorter call hold times, as well as significantly higher Net Promoter® Scores.
“We’re honored by the Wealthies recognition of our Client Services and Operations team's recent results as well as our commitment to continually invest to achieve superior service and processing metrics," said Dan Kocher, VP, Service Excellence at Avantax. “Based on direct feedback from the Avantax Community, we know that our Service Excellence improvements have helped our independent Financial Professionals drive efficiencies and operational improvements in their firms, and helping our Financial Professionals achieve their goals is why the Avantax team comes to work every day.”
Avantax’s commitment to service transformation helped drive the company’s overall performance during 2022, a year in which the Avantax set record highs in many of its performance metrics.
Now in its ninth year, the WealthManagement.com Industry Awards program honors outstanding achievements by companies, organizations and individuals that support financial advisor success. A panel of judges from the industry, led by WealthManagement.com director of editorial strategy and operations David Armstrong, chose the finalists and will determine the winners, which each year recognizes the firms and individuals who are bringing new innovations to market that make a real difference to the daily activities of financial advisors. Winners will be announced Sept. 7 at a gala and awards ceremony in New York City.
For more information about the awards, including entry requirements and judging criteria, please visit here.
No compensation was given in connection with the award nomination.
Avantax, Inc. (NASDAQ: AVTA) delivers tax-focused financial planning and wealth management solutions for Financial Professionals, tax professionals and CPA firms, supporting our goal of minimizing clients’ tax burdens through comprehensive tax-focused financial planning. We have two distinct, but related, models within our business: the independent Financial Professional model and the employee-based model. We refer to our independent Financial Professional model as Avantax Wealth Management®. Avantax Wealth Management offers services through its registered broker-dealer, registered investment advisor (RIA), and insurance agency subsidiaries and is a leading U.S. tax-focused independent broker-dealer that works with a nationwide network of Financial Professionals operating as independent contractors. We refer to our employee-based model as Avantax Planning Partners℠. Avantax Planning Partners offers services through its RIA and insurance agency by partnering with CPA firms to provide their consumer and small-business clients with holistic financial planning and advisory services. Collectively, we had $83.8 billion in total client assets as of June 30, 2023. For more information on Avantax, visit www.avantax.com.
WealthManagement.com, an Informa business, provides everything wealth professionals need to know to stay knowledgeable about the industry, build stronger relationships, improve their practice, and grow their business. WealthManagement.com offers financial services organizations a broad array of marketing services designed to help them influence the industry’s leading audience of wealth management professionals.