Avantax Wealth Management, a private brokerage organization recognized for its financial planning and asset stewardship capabilities, has long made its mark. Established in 1983, Avantax has impeccably adapted to the changing financial climate, time and again. Today the organization boasts over 3,100 financial consultants supervising $80 billion of resources for individuals, families, and firms all over the nation. Avantax is deemed among the Top 20 brokerage firms based on income.
Rather than providing tax advice per se, Avantax lays critical emphasis on the tax repercussions of various financial undertakings: from home financing, retirement planning, education funding to business tactics, and more. The company holds the belief that countless people/investors are losing substantial wealth by overlooking the tax implications of their fiscal actions. Avantax promises to maximize your profit margin whilst helping to trim unnecessary tax payments.
Avantax's vision is to generate opportunities for tax experts and sovereign financial advisors to build and grow thriving financial service practices that cater to a burgeoning necessity among investors desiring a comprehensive plan towards wealth management. They sustain an unwavering commitment to providing advisors with first-class service-equipping them to render more Americans with quality investment and financial planning solutions. The company's capacity and reach gained a significant boost following the acquisition of HD Vest Advisors.
Reviews on popular employment-oriented service Glassdoor.com attest to culture playing a significant part in Avantax's ability to realize its ambition. The consensus views Avantax’s work culture in a rather balanced light.
The silver lining is that the staff members admire their chief: around 93% of employees express approval of CEO Chris Walters and 90% of the workforce would advocate for the company to a friend-both sentiments are comparatively high. On top of that, the firm places paramount importance on education which is pretty inclusive.
However, Avantax has faced some uphill battles dealing with structural transitions, as corroborated on Glassdoor.com. Some employees have aired grievances about a disordered work setting, frequent managerial changes, and obstacles presented by mergers. Even though these challenges suggest a somewhat bumpy patch on the inside, Avantax's success persists. It's plausible that the organizational solidity will enhance as Avantax moves further into the post-merger phase but this remains to be validated.
The company’s 1040 Analyst, a specialized tool tailored for tax professionals providing financial services, merges tax data from the 1040 form to automate financial service prospects and pinpoint vulnerabilities. This personalized approach boosts the chances of client retention and referrals, making it an excellent tool for financial analysts managing numerous clients (500-plus).
Avantax also utilizes premium wealth management software that includes eMoney, MoneyGuidePro, Wealthscape, and Envestnet.
In brief, Avantax provides an exclusive service that is worthy of consideration for anyone keen to reduce tax implications of their financial decisions. The pros outweigh the cons, and the company's longevity, including enduring financial crises, is perhaps the greatest advantage.