Bringing you live news and features since 2006 

HK Financial Services rebrands as Avantax Planning Partners


HK Financial Services (HKFS), a CPA-focused registered investment advisor (RIA), has rebranded as Avantax Planning Partners and will operate alongside Avantax Wealth Management. 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.
“Avantax Planning Partners has allowed us to broaden how Tax and Financial Professionals can affiliate with Avantax, including the in-house RIA model, which is particularly attractive to large accounting firms,” says Avantax Wealth Management President, Todd Mackay. “Flexible affiliation models are core to the Avantax value proposition because they offer powerful ways for us to partner with Tax and Financial Professionals of all sizes, from sole practitioners, to multi-partner CPA firms. Additionally, our multiple affiliation model provides a turnkey solution for our independent Financial Professionals looking to transition their wealth management book of business.”
The new, more tightly aligned branding will not alter the client experience.
“The HKFS business model remains unchanged – as Avantax Planning Partners, we will continue working hand-in-hand with CPAs and tax professionals to provide turnkey wealth management and financial planning services to their clients,” says Louie Rosalez, President of Avantax Planning Partners. “There will be no change in our relationships with our current affiliates or our service to clients. Our team remains laser focused on delivering the high-touch experience clients have come to know, and expect, from us.”
As part of the brand alignment, the in-house retirement offering that was formerly referred to as HK Financial Services Retirement Plan Services will now be referred to as Avantax Retirement Plan Services. It will continue providing full fiduciary services, investment management, dedicated administration and support, and employee enrollment and education. This offering, available to all Tax and Financial Professionals affiliated with Avantax, serves a broader base of business clients in a more holistic manner.
“Our thesis behind the highly complementary acquisition of HKFS was that it would help Avantax expand the ways its works with accounting firms and tax professionals, while also supporting Blucora’s growth objectives,” says Blucora President and Chief Executive Officer Chris Walters. “The rebranding is an important, public-facing demonstration that our lines of business are tightly aligned. We are confident that our differentiated tax-focused wealth management strategy and market position are compelling for the right Financial Professionals and their customers, and likewise, will support our future growth.”

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by