DALLAS – (Aug. 15, 2023) – Avantax®, a leader in tax-focused financial planning and wealth management, welcomed more than 100 independent Financial Professionals during the first two quarters of 2023. Established wealth managers, newly licensed tax professionals and licensed tax professionals are choosing Avantax because they want superior service and innovative growth support from their broker dealer as well as the peer-to-peer collaboration that comes with joining the Avantax Community.
“I’ve never seen more tax and financial professionals looking to grow by partnering with each other, and there’s no better place to collaborate than the Avantax Community,” said Tim Stewart, VP and Head of Business Development at Avantax. “We’re seeing widespread interest from long-time Financial Professionals and tax pros wanting to add wealth management to their tax practice. This is especially true with our Strategic Partner Program, which pairs Avantax-affiliated tax and financial professionals to deliver tax-intelligent planning to the tax professional’s clients, and supports Financial Professionals seeking faster growth.”
During the second quarter Avantax reported newly recruited assets of approximately $141 million. Also, during the second quarter, 50 independent Financial Professionals affiliated with Avantax, including Frank Calise, who transferred to Avantax from Securities America, a broker-dealer of Advisor Group.
“Avantax’s tax focus and technology was key for us because we’re so diversified, doing tax returns and financial planning, we needed technology to give clients a true snapshot of everything going on in their financial lives, and Avantax’s technology was a big reason for our affiliating,” said Calise, CEO and Founder of Arizona-based CFR Capital Group. “I was also very impressed with everyone we met from Avantax, and I’m not easily impressed. They were all incredibly prepared and took the time to answer all our questions. Plus, Avantax’s transition team is the best I’ve seen in my 25 years in this business. We couldn’t be any happier.”
John Weller, CFP®, owner of Weller Capital in Texas, also affiliated with Avantax during the second quarter, attracted by the Avantax Community and the Home Office’s resources, support and expertise.
“For me, one of the most compelling aspects of Avantax is collaborating with other advisors, community meetings with nearby Avantax advisors, and the Avantax national conference,” Weller said. “The other thing is having Avantax resources standing by my side, like their Advanced Case Solutions team and their experts on insurance, portfolio management, estate planning and taxes. I feel like I have more of a team behind me at Avantax, and that will help me grow my practice.”
Financial Professionals are transferring to Avantax from a variety of channels, including large broker-dealers, RIAs and regional firms.
Avantax also continued successfully recruiting accounting firms to its employee-based model (which Avantax refers to as Avantax Planning Partners℠) with six new affiliates. Avantax expects a continued strong pipeline of prospective accounting firm affiliates in 2023.
Tax and accounting professionals entering wealth management for the first time are also choosing Avantax because they continue to see the need to obtain the licensing and education so they can directly provide tax-advantaged financial planning and wealth management services instead of referring clients to a local banker or broker who might not view investments with tax implications in mind.
Tax and Financial Professionals can learn more about Avantax by clicking here.
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 additional information, please visit us at www.avantax.com. You can also find us on LinkedIn.
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