Avantax Expands Its Services Through Strategic Acquisition
Avantax Enhances Growth Strategy with Acquisition
Avantax Inc. (Avantax), well-regarded within the financial sector, has taken significant steps to strengthen its strategic position by acquiring SEP Financial Services. This acquisition marks an important milestone for Avantax, which has established itself as a leader in tax-focused financial planning and wealth management.
A Legacy of Expertise
Founded by veteran financial advisor Stephen E. Plain, who has been part of the Avantax community for an impressive 25 years, SEP Financial Services brings substantial expertise to the table. Plain's deep connection with Avantax, having worked closely with the organization throughout his career, positions this transition as a well-planned endeavor aimed at benefiting existing clients.
Transitioning for the Future
The decision to evolve his practice under the Avantax umbrella was central to Plain’s succession plan. He expressed confidence that this transition would facilitate a seamless experience for his clients, ensuring they continue to receive the comprehensive tax-focused financial planning they deserve.
“As I approached succession planning, ensuring my clients received the same high standard of service was paramount,” Plain shared. Many of his peers who had made similar transitions to Avantax Planning Partners? (APP) lauded the smoothness of the process and the additional resources available to clients.
Advantage of Community Support
With approximately $40 million in client assets under administration, Plain credits his long-standing relationship with Avantax’s Home Office team for easing his succession planning journey. This supportive structure ensures that clients continue receiving top-tier financial advice backed by a robust team.
“The journey into business is often considered, but the exit strategy and client impact require attention too,” Plain noted. The resources available through Avantax for advisors focusing on succession planning made a considerable difference in his preparations.
A Testament to Teamwork
Andy Watts, President of Avantax Wealth Management, emphasized the importance of community within Avantax, noting that the camaraderie among financial professionals leads to shared best practices. “We value the experiences advisors bring. It enhances the continuity of client relationships during transitions,” Watts remarked. He celebrated Plain’s proactive steps towards his next chapter within the Avantax Community.
Client-Centric Approach to Wealth Management
Avantax remains committed to delivering superior wealth management solutions, particularly through its dual models—Avantax Wealth Management® and Avantax Planning Partners. By minimizing tax burdens and offering comprehensive planning, Avantax empowers its advisors and clients alike.
With an impressive $92.8 billion in assets under administration, Avantax continues to grow its presence in the financial landscape. This growth allows the company to provide a range of services tailored to meet both individual and small business clients' needs.
Looking Ahead
As Avantax moves forward with its approach to wealth management and client service, the acquisition of SEP Financial Services represents not only a strategic decision but also a commitment to enhancing the financial advisory experience for clients. The expanded capacity to offer additional resources and support to clients is a promising aspect of this transition.
Frequently Asked Questions
What is Avantax's recent acquisition?
Avantax recently acquired SEP Financial Services, enhancing its wealth management offerings.
Who is Stephen E. Plain?
Stephen E. Plain is the founder of SEP Financial Services and a veteran financial advisor with 25 years of experience with Avantax.
How will this acquisition impact clients?
Clients are expected to benefit from increased resources and a seamless transition to Avantax Planning Partners, ensuring continued comprehensive financial planning.
What support does Avantax offer to advisors?
Avantax provides advisors with resources for succession planning, including webinars, coaching, and a dedicated support team during transitions.
What is Avantax's mission?
Avantax aims to minimize clients’ tax burdens through comprehensive tax-intelligent financial planning and wealth management solutions.
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