DALLAS--(BUSINESS WIRE)--Avantax Wealth Management℠ hosted more than 1,500 of its Financial Professionals this week during the three-day Avantax Virtual Forum where Avantax leadership discussed the firm’s focus on, and investments in, people, platforms and products.
From adding new investment solutions that help Avantax affiliates serve a diverse client base, to flexible affiliation models that support tax professionals and CPA firms of all sizes, Avantax shared its plans for helping affiliates grow their business while expanding ways to add value for clients.
The Virtual Forum brought the Avantax Community together while travel and in-person meetings have been curtailed due to the COVID-19 pandemic. The Avantax Virtual Forum offered some 50 sessions, 31 of which were continuing-education credit eligible, and affiliates had access to more than 40 educational partners.
“Avantax has an incredibly strong community – it’s unique in the industry. Whenever we meet, we grow as friends, we grow as businesses and we grow as individuals,” said Avantax Wealth Management President Todd Mackay. “In this most surreal of years, our tenacious Financial Professionals and dedicated Home Office team managed through adversity to serve end-clients when they needed us most. I’m proud to be part of the Avantax Community, and I’m excited about the continued progress ahead.”
Mackay added: “Our successful Avantax Virtual Forum underscores our solid recruiting in 2020, with 175 new affiliates through October (130 firms and 45 independent Financial Professionals), including 95 from other broker-dealers, and 104 affiliates referred to us by current Avantax Financial Professionals.”
Mackay opened the Virtual Forum with a focus on flexible Avantax affiliation models, including:
- Independent broker-dealer for tax and wealth management professionals to whom independence is paramount.
- Multiple referral models for tax professionals who prefer a partnership or affiliation model through which their clients’ financial planning needs are met.
- An employee-based model serving CPAs and tax professionals by partnering with Avantax’s in-house RIA.
Other highlights included new investment programs and products that give Avantax affiliates more ways to serve clients while also deepening those client relationships, such as:
- A new brokerage IRA with zero custodial fee for low-balance accounts held on Avantax platforms.
- A low-balance advisory offering – IMS Prime – that’s generating significant affiliate interest.
- A fee-based annuity product that will roll out in 2021.
- An in-house, turnkey and comprehensive Retirement Plan solution that incorporates full fiduciary services, investment management, dedicated administration and support, and employee enrollment and education. This offering enables more Avantax Financial Professionals to serve a greater number of their business clients in a more holistic manner.
It also was announced that Mike Kobs, a long-time Avantax Financial Professional and founder of MRK Financial Solutions, one of the fastest-growing affiliates, has joined Avantax full time. Kobs will lead a new ambassador program focused on value creation for top Avantax firms – those with $1 million or more in production – by delivering consulting, planning and high-level relationship management.
“Whether they’re a sole practitioner or a multi-partner firm, Avantax helps our affiliates integrate their unique tax insights in ways that allow them to deliver value to clients,” Mackay said. “Our status as one of the lowest-cost financial partners, combined with our range of flexible affiliation options and commitment to investing in the future success of our affiliates, is what attracts firms and independent Financial Professionals to Avantax, as reflected by our very successful Virtual Forum.”
About Avantax Wealth Management℠
Avantax Wealth Management℠ (which comprises the Wealth Management business of Blucora, Inc.) offers a tax-advantaged approach for comprehensive financial planning. Through its Tax-Smart approach, Avantax Financial Professionals help clients leverage taxes to create financial growth opportunities. Most financial companies treat taxes as an afterthought, or not at all, even though taxes are one of life’s most complex and costly expenses. Avantax uses technology, tax and wealth management insights to uncover tailored and advantageous opportunities across our clients’ financial lifecycles to help enable better long-term outcomes.
Avantax Wealth ManagementSM is the holding company for the group of companies providing financial services under the Avantax name. Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Investment advisory services offered through Avantax Advisory ServicesSM. Insurance services offered through licensed agents of Avantax Insurance AgencySM and Avantax Insurance ServicesSM. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019, 972-870-6000
The Avantax family of companies exclusively provide investment products and services through its representatives. Although Avantax Wealth Management℠ does not provide tax or legal advice, or supervise tax, accounting or legal services, Avantax representatives may offer these services through their independent outside business. This information is not intended as tax or legal advice. Please consult our firm and your legal professional for specific information regarding your individual situation.
