HD Vest, 1st Global Brands to Die as Blucora Combines the B/Ds
September 9, 2019 By Diana Britton, WealthManagement.com Blucora’s combining its broker/dealers under the newly formed Avantax Wealth Management, in an effort to emphasize its 4,200 advisors’ tax specialty. Blucora, the parent company of tax-focused independent broker/dealers HD Vest Financial Services and 1st Global, announced plans Monday to combine the two b/ds into a new one called Avantax Wealth Management. The HD Vest and 1stGlobal brands will be retired. HD Vest, founded over 35 years ago by a CPA, was acquired by Blucora in 2015 for $580 million. 1stGlobal, acquired by the firm earlier this year for $180 million, was established over 25 years ago, with a focus on larger CPA practices. Together, the firms have 4,200 advisors with $67 billion in client assets. The two back offices will be combined into one location; Enrique Vasquez,...
