Avantax Wealth Management
Avantax Wealth Management is a U.S. tax-focused wealth management platform serving 3,111 financial professionals through an independent broker-dealer and an employee-based RIA, administering $82.3B in client assets as of September 2023 under Cetera Holdings ownership.
- Company typePrivate
- Founded1983
- HeadquartersIrving, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Avantax Wealth Management does
Avantax Wealth Management is a U.S. tax-focused wealth management platform operating two affiliation models: an independent broker-dealer, RIA, and insurance agency for financial professionals operating as independent contractors, and Avantax Planning Partners, an employee-based RIA that partners with CPA firms to deliver holistic financial planning to their consumer and small-business clients. As of September 30, 2023 the platform administered $82.3 billion in client assets, managed $42.0 billion (including $7.8 billion within Avantax Planning Partners), and served a community of 3,111 financial professionals.
The technology stack centers on tax-intelligent planning tools and processes developed over the firm's 40-year history, combined with multi-custodial capabilities (expanded via a strategic relationship with Fidelity) and third-party financial planning software such as eMoney. Distribution is primarily through recruitment of financial advisors, licensed tax professionals, and CPA firms via regional business development teams, a Strategic Partnership Program for referral-generating partnerships, and a dedicated Women's Advisor Forum.
The revenue model combines transaction-based compensation (commissions) for registered representatives offering brokerage services with asset-based advisory fees for investment adviser representatives, plus employee-based RIA fees from Avantax Planning Partners. Following the November 27, 2023 go-private transaction with Cetera Holdings at $26.00 per share, Avantax operates as a distinct community within the Cetera Financial Group network, which oversees approximately $374 billion in assets across more than 9,000 financial professionals. The firm has continued an active tuck-in acquisition cadence since the change of control.
Avantax Wealth Management firmographics
Firmographics- Name
- Avantax Wealth Management
- Legal name
- Avantax, Inc.
- Website
- https://avantax.com
- Company type
- Private
- Founded year
- 1983
- Operating status
- Acquired
- Headcount range
- 1,001–5,000 employees
- Short description
- Avantax Wealth Management is a U.S. tax-focused wealth management platform serving 3,111 financial professionals through an independent broker-dealer and an employee-based RIA, administering $82.3B in client assets as of September 2023 under Cetera Holdings ownership.
- Ownership category
- akta.pro rank
Avantax Wealth Management industry classification
Industry- Product category
- Wealth Management Services
- NAICS
- Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Broker-Dealer Affiliated Wealth Advisory (FSAEABAB)
- akta.pro secondary industries
- Registered Investment Advisor (RIA) Wealth Management (FSAEABAA), Financial Planning–Led RIAs (FSAAACAB), Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE)
Keywords
Where Avantax Wealth Management is headquartered
LocationHeadquarters
- HQ city
- Irving
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Avantax Wealth Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Broker-Dealer Services: Transaction-based compensation (commissions) for Registered Representatives who offer brokerage services. Financial professionals affiliated with Avantax as Registered Representatives receive transaction-based compensation.
- Investment Advisory Services: Fees based on assets under management for Investment Adviser Representatives who offer investment advisory services. Both models (Avantax Wealth Management and Avantax Planning Partners) generate advisory fees.
- Employee-Based RIA Services: Avantax Planning Partners operates as an employee-based RIA with $7.8 billion in assets under management as of September 30, 2023, partnering with CPA firms to provide financial planning services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Commission-based brokerage services |
| Subscription | Monthly | Asset-based advisory fees |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
Avantax Wealth Management product offering
Product offeringCore offering
Avantax Wealth Management is a tax-focused wealth management platform that delivers financial planning, investment advisory, broker-dealer, and insurance services to clients through a nationwide network of affiliated financial professionals. It operates two affiliation models: an independent broker-dealer/RIA platform for financial professionals operating as independent contractors, and an employee-based RIA (Avantax Planning Partners) that partners with CPA firms to provide holistic financial planning.
Product overview
Avantax offers two distinct but related business models within its tax-intelligent wealth management platform. Avantax Wealth Management is the independent Financial Professional model, offering services through registered broker-dealer, RIA, and insurance agency subsidiaries via a nationwide network of independent contractors. Avantax Planning Partners is the employee-based model that partners with CPA firms to provide holistic financial planning services. Both models emphasize tax-focused financial planning and wealth management to minimize clients' tax burdens.
Differentiator
Problem solved
Functional benefit
Products and services
- Avantax Wealth Management (Independent Broker-Dealer & RIA) Tax-focused independent broker-dealer and registered investment adviser platform that enables financial professionals operating as independent contractors to offer wealth management, brokerage, advisory, and insurance services to their clients. Designed for independent financial advisors seeking institutional-level support and proprietary tax-planning tools.
- Avantax Planning Partners (Employee-Based RIA) Employee-based RIA and insurance agency that partners with CPA firms to deliver holistic financial planning and advisory services through W-2 employee advisors to the CPA firms' consumer and small-business clients. Includes tax-intelligent planning integrated with tax preparation services.
- Strategic Partnership Program Referral-generating partnership program designed for CPA firms and other professional service providers who want to refer clients seeking wealth management services without operating as a full affiliation.
Quantifiable outcome
- $82.3 billion in total client assets under administration
- +2 more outcomes
Companies that use Avantax Wealth Management
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
Avantax Wealth Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Avantax Wealth Management partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- FidelitycoreCetera expanded into a multi-custodial platform through a strategic relationship with Fidelity. The acquisition establishes a strategic relationship between Cetera and Fidelity, enhancing capabilities to deliver latest tools and resources to affiliated advisors. Fidelity serves as a custody platform alongside existing relationships.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Avantax Wealth Management competitors and assessment
Company assessmentDirect peers
- Cetera Financial Group (sibling entities — Cetera Advisor Networks, Cetera Investment Services): Parent platform with multiple independent broker-dealer / RIA channels operating with the same affiliated-advisor model and shared technology and custody stack as Avantax — its most directly comparable operating peer now that Avantax sits within Cetera.
- LPL Financial: Largest U.S. independent broker-dealer / RIA supporting independent financial advisors with brokerage, advisory, and custody services — directly competitive with Avantax for the same pool of independent financial professionals and CPA-affiliated advisors.
- Osaic (formerly Advisor Group / Ladenburg Thalmann): Large multi-channel IBD and RIA platform (formerly Advisor Group) serving independent advisors across multiple subsidiary brands — competes head-to-head with Avantax for affiliated advisors and pursues similar tax-focused and CPA-channel strategies.
- Cambridge Investment Research: Independent broker-dealer with a strong RIA and financial-planning-led culture serving independent advisors — closely comparable in advisor-support model, planning orientation, and mid-market positioning to Avantax.
- Commonwealth Financial Network: Privately held independent broker-dealer / RIA serving independent financial advisors with holistic planning technology and advisor-first support — directly comparable business model and target advisor profile to Avantax Wealth Management.
- Focus Financial Partners: Wealth management roll-up partnering with RIAs and advisor teams — comparable to Avantax's M&A strategy of consolidating mid-sized advisor practices and similar tax/financial-planning-led positioning for HNW clients.
Broad incumbents
- Raymond James Financial: Diversified financial services firm with a substantial independent advisor / PCG channel offering IBD, RIA, and custody services — overlaps with Avantax's product set across a broader institutional footprint.
- Ameriprise Financial: Diversified wealth and asset manager with a large independent advisor channel and planning-led value proposition — broadly overlaps with Avantax in target client and advisor profile, though at meaningfully larger scale.
- Edward Jones: Large U.S. wealth manager with a branch-based, advisor-led model focused on mass-affluent and HNW clients — comparable target client segment to Avantax, though delivered through an employee/advisor model rather than independent contractors.
Emerging players
- Mariner Wealth Advisors: Fast-growing national RIA with tax, estate, and financial-planning specializations — increasingly competes with Avantax for advisor talent and HNW client engagements via an aggressive acquisition strategy.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Avantax Wealth Management social profiles
Digital presenceAvantax Wealth Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Avantax Wealth Management leadership team
Management profileNumber of profiles
Profiles2 records
Avantax Wealth Management subsidiaries and ownership
Company hierarchySubsidiaries2 records
Avantax Wealth Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Avantax Wealth Management M&A and investment
M&A and investmentM&A7 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Avantax Wealth Management
What does Avantax Wealth Management do?
Avantax Wealth Management is a tax-focused wealth management platform that delivers financial planning, investment advisory, broker-dealer, and insurance services to clients through a nationwide network of affiliated financial professionals. It operates two affiliation models: an independent broker-dealer/RIA platform for financial professionals operating as independent contractors, and an employee-based RIA (Avantax Planning Partners) that partners with CPA firms to provide holistic financial planning.
Is Avantax Wealth Management a public or private company?
Avantax Wealth Management is a private company. It is classified as corporate owned and is currently acquired.
When was Avantax Wealth Management founded?
Avantax Wealth Management was founded in 1983. It employs 1,001 to 5,000 people.
Where is Avantax Wealth Management based?
Avantax Wealth Management is headquartered in Irving, United States, in the North America region.
How does Avantax Wealth Management make money?
Three revenue lines are on record. Broker-Dealer Services are the primary driver. The others are investment Advisory Services and employee-Based RIA Services.
Who are Avantax Wealth Management's main competitors?
Direct peers on record are Cetera Financial Group (sibling entities — Cetera Advisor Networks, Cetera Investment Services), LPL Financial, Osaic (formerly Advisor Group / Ladenburg Thalmann), Cambridge Investment Research, Commonwealth Financial Network and Focus Financial Partners. Broad incumbents are Raymond James Financial, Ameriprise Financial and Edward Jones. Mariner Wealth Advisors is listed as an emerging player.
Does Avantax Wealth Management have an API?
No public API is recorded for Avantax Wealth Management.
What industry is Avantax Wealth Management in?
Avantax Wealth Management's product category is Wealth Management Services. Its primary akta.pro industry code is FSAEABAB, Broker-Dealer Affiliated Wealth Advisory, with a secondary code of FSAEABAA, Registered Investment Advisor (RIA) Wealth Management. Its NAICS code is 523940 and its SIC code is 6282.