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Amidst Proxy Battle, Avantax Adds to Executive Team

15:42 19 March in In the News by rafferty

March 18, 2021 By Diana Britton, WealthManagement.com Avantax hires a CMO and elevates practice management leaders, even as an outside investor seeks to shake up the broker/dealer's parent company. While an activist investor wages a public proxy battle with its corporate parent, Avantax Wealth Management, the tax-centric broker/dealer created from the acquisitions of HD Vest and 1st Global, said Thursday it has added to its senior leadership team. Mike Holmes, a former marketing executive at USAA, joins the firm as chief marketing officer, with responsibility for growing and supporting the IBD’s 3,700 advisors and building the Avantax brand. Mike Kobs, who most recently ran an Avantax practice, MRK Financial Solutions, has been named vice president of enterprise relationships and business consulting. Kobs recently completed his succession plan at MRK. He’ll be leading a new ambassador...

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Avantax Wealth Management Launches New Affiliation, Referral Businesses

19:30 14 December in In the News by rafferty

December 11, 2020 By Diana Britton, WealthManagement.com Avantax recently added new CPA referrals for advisors at the IBD as well as those affiliating under a new, full-time employee model. Avantax Wealth Management, Blucora’s wealth management business created from the acquisitions of HD Vest and 1st Global, recently launched two new affiliation models to help recruit and support financial professionals whose value proposition is largely tax-centric financial planning. The firm continues to run its independent broker/dealer model, which serves tax-focused advisors who want to run their businesses independently. But executives at the firm recently added multiple new referral models where tax professionals and CPA firms can refer relationships to one of Avantax’s independent financial advisors at the IBD, as well as to a new W-2 advisor affiliation model stemming from parent Blucora's acquisition of HK Financial Services, a CPA-focused registered investment advisor, earlier this year. “We’re in...

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HD Vest, 1st Global Brands to Die as Blucora Combines the B/Ds

16:25 11 September in In the News by rafferty

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,...