Blucora to Rebrand HD Vest, 1st Global as Avantax Wealth Management

“With the launch of Avantax, we are creating a powerful brand for HD Vest and 1st Global that aims to redefine what Tax-Smart wealth management means,” said Blucora’s President of Wealth Management Enrique Vasquez, in a statement. “Each year investors give up 1-2 percentage points of performance to taxes — we look forward to working with our advisors to elevate their businesses, communicate the importance of a tax-focused approach, and most importantly provide better solutions and results for clients.”

In June, the company launched a new proprietary Tax-Smart investing software platform, which seeks to help advisors systematically capture tax alpha for clients.

The first Tax-Smart module included at launch focused on tax-loss harvesting, with additional modules slated to be added by year end.

“Unlike the broader financial industry, which treats taxes as a once-a-year event, we believe that every financial decision is, at its core, a tax decision,” said Blucora President and CEO John Clendening, in the statement. “With this unification and rollout of new tools, Blucora, the first and largest holistic tax-focused financial provider, further strengthens its position and ability to provide clients with integrated tax and wealth management.”

— Check out HD Vest-1st Global Deal: ‘The Consolidation Continues’ on ThinkAdvisor.