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Avantax Posts Record Newly Recruited Assets as Advisor


DALLAS, Nov. 09, 2023 (GLOBE NEWSWIRE) — 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) 870-6654
[email protected]

Kendra Galante
StreetCred PR for Avantax, Inc.
(402) 740-2047
[email protected]
[email protected]

Investor Relations Contact:
Dee Littrell
Avantax, Inc.
(972) 870-6463
[email protected]

Avantax Inc



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