Blucora Inc. said Monday that it plans to unify its two wealth management divisions, HD Vest and 1st Global Inc., into a new brand called Avantax Wealth Management that will focus on tax planning.
The move, the company said, is designed to bring broader awareness to the firm’s Tax-Smart wealth management approach, providing tax-focused advice with cutting-edge tools and software.
Blucora acquired tax-focused broker-dealer 1st Global in early May, which added scale and expanded Blucora’s established tax-optimized financial services footprint.
Together, HD Vest and 1st Global have a total of 4,200 affiliated advisors who oversee more than $67 billion in client assets.
The rebranding is expected to take place in two phases, with HD Vest converting to the Avantax Wealth Management name in mid-September, followed by 1st Global pending regulatory approval.