HK Financial Services (“HKFS”), a fast-growing, CPA-focused registered investment advisor (“RIA”), has been rebranded Avantax Planning Partners and will operate alongside Avantax Wealth ManagementSM. The combined companies offer unique, flexible affiliation models, with the RIA model being particularly attractive to mid-size to large accounting firms.
The acquisition of HKFS in July 2020 by Blucora, Inc. (NASDAQ: BCOR), the parent company of Avantax, added an attractive model for accounting firms looking to holistically serve their clients with the addition of wealth management services. Under its new brand, Avantax Planning Partners will continue its legacy of offering a turnkey wealth management program for its affiliates while delivering comprehensive tax and financial planning services, as well as client development, training, marketing, compliance services and more.
Avantax Planning Partners further strengthens Avantax’s flexible affiliation models, which include:
- An independent broker-dealer for tax and wealth management professionals for whom independence is paramount;
- Multiple referral models for tax professionals who prefer a partnership or affiliation model through which their clients’ financial planning needs are met; and
- An employee-based model serving CPAs and tax professionals by partnering with Avantax’s in-house RIA.
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