Avantax Acquires GA Investment Management Adding 10-person, $400-Million Practice to Avantax’s Employee-based Model
May 16 2024 - 10:03AM
Avantax® Inc., a leader in tax-focused financial planning and
wealth management, has acquired GA Investment Management (GA). The
Pennsylvania-based wealth management firm was not previously
affiliated with Avantax. Since closing the acquisition, $400
million in GA client assets have been onboarded to the Avantax
platform, and 10 GA employees are now W-2 employees of Avantax.
The three partners who led GA – Stephen Gierl,
CFP®, Gary Augustine, and Tim Augustine, CFP® – conducted a lengthy
nationwide search as part of their succession plan, culminating
with several finalists pursuing GA. Gierl said he and his partners
chose Avantax for several reasons, including that GA and Avantax
have nearly identical approaches to financial planning and
investment management, they wanted in-house asset management like
Avantax’s, and they wanted their younger advisors to have
client-growth potential through Avantax’s deep network of tax and
accounting firm affiliates.
“Several firms looked good to us, but what set
Avantax apart was its incredible network of accounting firms, and
its distinct approach of putting tax at the center of financial
planning just like we do at GA, and that’s why we chose Avantax,”
Gierl said. “We’re confident Avantax Planning Partners will serve
our clients the way we want them served forever, including future
generations of clients. We feel comfortable Avantax will help us
grow the next generation of advisors and associates, and within
Avantax, we can have a growth trajectory that will allow our people
to continue to prosper.”
Another big part of GA’s decision to choose Avantax
was that both firms use eMoney for planning and an enhanced client
experience, Gierl said. GA also liked that Avantax not only
embraces the importance of tax-focused financial planning, but has
deep planning expertise and specialists throughout its Home
Office.
Gierl said what sealed the deal for GA’s leaders
was the overall cultural fit shared by the firms.
“We attended an Avantax Planning Partners event
where we talked with a number of Financial Planning Consultants and
affiliated CPAs, and everyone was very enthusiastic about the
relationship. That was really big for us,” Gierl said.
Gierl, Gary Augustine, and GA’s other financial
advisors and wealth management team have joined Avantax Planning
Partners℠ as employee-based investment advisers and staff. Tim
Augustine has joined Avantax’s Home Office in an administrative
role.
In welcoming the GA team, Avantax President Todd
Mackay said: “The cultural connection GA and Avantax have is
extraordinary, as is the incredibly tight alignment in our approach
to client service, financial planning, investment management and
putting tax at the center of everything we do. GA is a group of
great people committed to doing what’s in their clients’ best
interest, and I can’t wait to see what’s ahead for the GA team as
they focus on growth backed by the full resources of Avantax.”
Tax and financial professionals can learn more
about Avantax by clicking here.
About
Avantax®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