Avantax Acquires Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Business

May 01, 2024 at 10:03 AM EDT

DALLAS, May 01, 2024 (GLOBE NEWSWIRE) -- 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) 870-6654
tony.katsulos@avantax.com

Alexandra Lynn
StreetCred PR for Avantax, Inc.
929-317-4240
alexandra@streetcredpr.com
avantax@streetcredpr.com