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Company Details
Avantax Planning Partners collaborates with their clients' trusted tax professionals to provide a holistic approach to wealth management needs based on clients' unique life goals, tax-based financial opportunities, and investment solutions. By focusing on the "why" of actions, rather than just the "what," the team can work towards goals with clarity and direction. As a results-driven organization, the firm is always looking for ways to grow and expand, with a focus on achieving objectives and exceeding expectations. Together, this culture of collaboration and results-focused mindset enables the firm to work effectively towards its goals, continually improving and innovating along the way.
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Acquisition Model
Full Acquisition
No
Yes
Max Cash: 100%
Max Equity: 0%
Avantax's standard terms are 40-50% of consideration held in retention.
The owner's compensation model will largely be set with owner input around cash flow needs post-close. There is typically a minimum replacement cost level that will be assessed which is approximately 20% of revenue.
Mandatory Points of Alignment
Avantax asks all partners to adopt their brand on day 1.
Avantax will centralize all back-office responsibilities so partners can focus on client-facing activities.
Partners will have control over their calendars.
Financial decision will be made in collaboration with the Avantax team.
Avantax's client experience is strongly encouraged, but not required.
Avantax highly encourages participation with the practice management team, however, it is not mandatory.
Avantax requires the full divestment of investment responsibilities. This is a strong focus to create consistency and compliance across offices.
Advisor Value Proposition
Avantax's approach to training individuals is a collaborative effort involving an advisor, the trainee, and corporate employees. Avantax emphasizes the importance of mutual growth through support. Rather than relying on a formal training program, they believe in the power of helping each other to develop and learn. Advisors and partners convene once every quarter, offering guidance and support to foster collective growth and development. This practice creates an environment that encourages individuals to thrive and enhance their skills.
Avantax has a central financial planning team of approximately 10 people who work together with the advisor to develop and execute financial plans for client meetings.
Avantax will centralize all back-office responsibilities, including accounting, payroll, HR, billing, and technology.
Avantax provides services beyond traditional investment management. These areas include tax-focused investment strategies, retirement planning and withdrawal strategies, family risk management, business planning, legacy planning, education planning, and cash flow management.
Avantax views its CPA relationships (80+) as a strong organic growth channel. Avantax goes beyond a mere connection and enters into a strategic relationship with each CPA firm, fostering mutual support and collaboration. One notable aspect of this partnership is the placement of a dedicated client service representative within the CPA firm. This ensures a steady flow of leads and opportunities between both entities. Additionally, the CPAs are actively involved in client meetings and share economics, cementing a strong and enduring relationship. For new partners, Avantax recognizes the value of existing CPA relationships and views them as an excellent opportunity to integrate into the circle of trusted CPAs, further expanding the network of reliable professionals. Avantax is committed to driving organic growth through the CPA firm lead flow. They also continue to work on making other marketing channels a central part of their value proposition.
Avantax has a wealth of resources for advisors and can provide valuable support in practice management. The practice management team offers expertise and guidance in key areas such as defining roles and responsibilities within the organization, ensuring clear expectations, and providing efficient workflows. In addition, they provide expertise in conducting performance reviews, facilitating evaluation of individual/team performance, and identifying areas for improvement. By partnering with them and leveraging their assistance, organizations can optimize their practice management and enhance overall performance.
AUM Growth
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