Avantax Acquires Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Business
May 01 2024 - 10:03AM
Avantax® Inc., a leader in tax-focused financial planning and
wealth management, has acquired the wealth management business of
Integrated Tax & Wealth Strategies, an independent wealth
management firm that is one of the largest businesses within the
Avantax Community, with $760 million in total client assets, as of
Dec. 31, 2023.
Integrated Tax & Wealth Strategies’ founder –
highly successful independent financial advisor Brian Stephens –
will continue with the tax practice. Integrated Tax & Wealth
Management’s other financial advisors and wealth management team
have become W-2 investment adviser representatives of Avantax
Planning Partners℠.
Stephens said conversations about further deepening
his partnership with Avantax began after he watched many of his
peers pursue a similar path with Avantax Planning Partners.
“I’ve seen several other advisors align with
Avantax Planning Partners, and while I looked at various options
even outside of Avantax, I realized that other broker-dealers don’t
understand our business model where tax preparation is such a key
component of the investment relationship,” Stephens said. “I feel
Avantax is the right answer because they are 100% aligned with my
belief that the best solution for clients is to keep investment and
tax preparation tied together.”
Stephens’ wealth team, including Matt Murch, CFP®,
Joseph Webster, CFP®, Sabrina Pledger, Amy Villarreal, Kyle Pledger
and Cheryl Wright, have joined Avantax as employees and will
continue to support the relationships the team has built over the
past 25 years.
The next evolution of Stephens’ relationship with
Avantax grew from a customized approach for Stephens and his team;
it was designed with long-term growth potential in mind.
“For each deal, the Avantax discovery process
starts with what’s most important to that business owner,” said
Michael Molnar, SVP of Corporate Development, M&A and
Succession Planning at Avantax. “Brian outlined how he wanted his
clients to be served, the growth opportunities he hoped to create
for his team and partners, and what he wanted his next several
years to look like. We successfully structured the deal to meet
Brian’s goals while setting the stage for the next phase of
growth.”
In welcoming Stephens and his team to the new
relationship, Todd Mackay, President, Avantax Wealth Management,
said: “Brian’s ability to expand his business, create growth
opportunities for his team, and provide excellent service to his
clients is exemplary. This new relationship between Brian and
Avantax is a natural fit. We are eager to see Brian and his team
continue growing the integrated tax and wealth management business
with Avantax as we focus on further strengthening their already
powerful client relationships.”
Tax and financial professionals can learn more
about Avantax by clicking here.
About
Avantax®Avantax, Inc. (Avantax), a unique
community within Cetera Holdings, delivers tax-intelligent wealth
management solutions for financial professionals, tax professionals
and CPA firms, supporting its goal of minimizing clients’ tax
burdens through comprehensive tax-intelligent financial planning.
Avantax has two distinct, but related, models within its business:
the independent Financial Professional model and the employee-based
model. Avantax refers to its independent Financial Professional
model as Avantax Wealth Management®. Avantax Wealth Management
(AWM) works with a nationwide network of Financial Professionals
operating as independent contractors and offers its services
through its registered broker-dealer, Avantax Investment Services,
Inc., Member FINRA, SIPC, registered investment advisor (RIA),
Avantax Advisory Services, Inc., and insurance agency subsidiaries.
We refer to our employee-based model as Avantax Planning Partners℠.
Avantax Planning Partners offers services through its RIA,
insurance agency, and affiliated broker-dealer, Avantax Investment
Services, Inc., and partners with CPA firms to provide their
consumer and small-business clients with holistic financial
planning and advisory services. Collectively, Avantax had $92.8
billion in total client assets as of Dec. 31, 2023. For additional
information, please visit www.avantax.com.
Media Contacts:Tony Katsulos
Avantax, Inc.(972) 870-6654tony.katsulos@avantax.com
Alexandra LynnStreetCred PR for Avantax,
Inc.929-317-4240alexandra@streetcredpr.comavantax@streetcredpr.com