Avantax Posts Record Newly Recruited Assets as Advisor Appetite for Joining the Tax-Focused Avantax Community Keeps Growing
November 09 2023 - 9:15AM
Avantax®, a leader in tax-focused financial planning and wealth
management, welcomed more than 150 independent Financial
Professionals during the first three quarters of 2023 as advisor
appetite remains high for aligning with Avantax’s deep pool of tax
professionals and accounting practices.
“We had an incredible third quarter and I’m proud
of how we continue attracting Financial Professionals, including
licensed tax professionals; they’re obviously seeing the value in
Avantax having firmly planted our flag in tax-intelligent financial
planning,” said Tim Stewart, VP and Head of Business Development at
Avantax. “We have kept strong traction with prospects because they
like that Avantax is the leader in tax-focused financial planning,
and they want to join like-minded peers in our amazing Avantax
Community.”
Stewart added: “Even with the proposed
Avantax/Cetera business combination, our recruits are still saying
they see Avantax as the secret sauce for their success. They tell
me that our ownership structure doesn’t matter to them, but our tax
focus does, and if going forward we have more size, scale and
resources available, so much the better.”
During the third quarter Avantax reported newly
recruited assets of approximately $564 million while 54 independent
Financial Professionals affiliated with Avantax.
New Avantax Community members include Anna Luke,
CFP® and her husband Victor Luke, who transferred to Avantax from
Independent Financial Group (IFG), and Bob Ervolina, J.D.,
Certified Wealth Strategist®, who transferred to Avantax from
Securities America, a broker-dealer of Osaic (formerly Advisor
Group).
“The main reason we chose Avantax is their tax
focus,” said Victor Luke. “By teaming up with tax professionals in
the Avantax network, our clients can improve tax efficiencies
through cohesive relationships with CPAs in a way that gives us
confidence and keeps clients satisfied with us as a one-stop shop.
We’re excited about having a symbiotic relationship like that.”
Similarly, Ervolina chose Avantax for its
tax-focused community.
“I found the ease of doing business with Avantax
attractive, and I really like their CPA network. Even though I’ve
only been on board since August, the move to Avantax has been
beneficial already,” Ervolina said. “Avantax quickly introduced me
to a CPA here locally, and we’re getting to know each other. It’s
still early and we’re developing a relationship, which is key
because CPAs need to like and trust you if they’re going to make
referrals, and we absolutely embrace that process.”
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℠).
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.
About Avantax® 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 $82.3 billion in total client assets as of Sept. 30, 2023. For
additional information, please visit us at www.avantax.com. You can
also find us on LinkedIn.
Media Contacts:Tony Katsulos
Avantax, Inc.(972) 870-6654tony.katsulos@avantax.com
Kendra GalanteStreetCred PR for Avantax, Inc.(402)
740-2047kendra@streetcredpr.com avantax@streetcredpr.com
Investor Relations Contact:Dee
LittrellAvantax, Inc. (972) 870-6463IR@avantax.com
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