DALLAS, May 16, 2024 (GLOBE NEWSWIRE) — Avantax Inc., a leader in tax-focused financial planning and wealth management, has acquired GA Investment Management. The Pennsylvania-based wealth management firm was not previously affiliated with Avantax. Since closing the acquisition, $400 million in GA client assets have been onboarded to the Avantax platform, and 10 GA employees are now W-2 employees of Avantax.
The three partners who led GA – Stephen Gierl, CFP®, Gary Augustine, and Tim Augustine, CFP® – conducted a lengthy nationwide search as part of their succession plan, culminating with several finalists pursuing GA. Gierl said he and his partners chose Avantax for several reasons, including that GA and Avantax have nearly identical approaches to financial planning and investment management, they wanted in-house asset management like Avantax’s, and they wanted their younger advisors to have client-growth potential through Avantax’s deep network of tax and accounting firm affiliates.
“Several firms looked good to us, but what set Avantax apart was its incredible network of accounting firms, and its distinct approach of putting tax at the center of financial planning just like we do at GA, and that’s why we chose Avantax,” Gierl said. “We’re confident Avantax Planning Partners will serve our clients the way we want them served forever, including future generations of clients. We feel comfortable Avantax will help us grow the next generation of advisors and associates, and within Avantax, we can have a growth trajectory that will allow our people to continue to prosper.”
Another big part of GA’s decision to choose Avantax was that both firms use eMoney for planning and an enhanced client experience, Gierl said. GA also liked that Avantax not only embraces the importance of tax-focused financial planning, but has deep planning expertise and specialists throughout its Home Office.
Gierl said what sealed the deal for GA’s leaders was the overall cultural fit shared by the firms.
“We attended an Avantax Planning Partners event where we talked with a number of Financial Planning Consultants and affiliated CPAs, and everyone was very enthusiastic about the relationship. That was really big for us,” Gierl said.
Gierl, Gary Augustine, and GA’s other financial advisors and wealth management team have joined Avantax Planning Partners℠ as employee-based investment advisers and staff. Tim Augustine has joined Avantax’s Home Office in an administrative role.
In welcoming the GA team, Avantax President Todd Mackay said: “The cultural connection GA and Avantax have is extraordinary, as is the incredibly tight alignment in our approach to client service, financial planning, investment management and putting tax at the center of everything we do. GA is a group of great people committed to doing what’s in their clients’ best interest, and I can’t wait to see what’s ahead for the GA team as they focus on growth backed by the full resources of Avantax.”
Tax and financial professionals can learn more about Avantax by clicking here.
About Avantax®
Avantax, a unique community within Cetera Holdings, delivers tax-intelligent wealth management solutions for financial professionals, tax professionals and CPA firms, supporting its goal of minimizing clients’ tax burdens through comprehensive tax-intelligent financial planning. Avantax has two distinct, but related, models within its business: the independent Financial Professional model and the employee-based model. Avantax refers to its independent Financial Professional model as Avantax Wealth Management®. Avantax Wealth Management (AWM) works with a nationwide network of Financial Professionals operating as independent contractors and offers its services through its registered broker-dealer, Avantax Investment Services, Inc., Member FINRA, SIPC, registered investment advisor (RIA), Avantax Advisory Services, Inc., and insurance agency subsidiaries. We refer to our employee-based model as Avantax Planning Partners℠. Avantax Planning Partners offers services through its RIA, insurance agency, and affiliated broker-dealer, Avantax Investment Services, Inc., and partners with CPA firms to provide their consumer and small-business clients with holistic financial planning and advisory services. Collectively, Avantax had $92.8 billion in total client assets as of Dec. 31, 2023. For additional information, please visit www.avantax.com.
