Blucorait’s Avantax said to have acquired a Washington-based financial planning practice.
The latest addition is Gene Bell & Associatesled by a certified financial planner Gene Bellwhich has been affiliated with Avantax for several years, according to the firm.
Bell, which is also a registered agent with the Internal Revenue Servicehas worked in the financial services industry for more than 21 years and has served as a tax law expert for the past 13 years at various IRS events, says Avantax.
As part of the deal, Bell joins Avantax as director of tax-smart initiatives, reporting to Andy Wattsvice president of investment solutions at Avantax, according to the company.
Bell brings in three additional employees.
The acquisition expands Avantax’s registered investment adviser footprint in the North West, according to the company.
“Adding Gene’s deep professional experience to the head office team improves how we can serve the Avantax community because Gene knows exactly what’s on the mind of the [certified public accountant] Where [enrolled agent] who also has a wealth management business, and that’s unique,” Watts said in the announcement.
Avantax, created in September 2019 by the merger of Blucorathe two wealth management divisions of , Vest HD and 1st worldwideexpanded its internal RIA unit through acquisitions as well as luring practices affiliated with other companies.
One of its biggest acquisitions came last year, when Avantax added the $1.1 billion New Jersey-based wealth management practice. Headquarters Advisory Group.
Avantax Wealth Management and Avantax Planning Partnerswhich make up Blucora’s wealth management segment, together held $89 billion in total client assets at the end of 2021, according to the company.
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