#United States #Dallas #Financial Planning #Avantax #WealthCare Financial

Avantax Expands Its Reach with WealthCare Financial Acquisition

In a strategic move to grow its footprint in the tax-focused financial planning landscape, Avantax® Inc. has successfully acquired the assets of WealthCare Financial Group LLC. Based in Indianapolis, this firm is known for its commitment to independent, tax-smart financial planning, boasting approximately $180 million in assets under administration as of late February 2025. This acquisition is expected to significantly bolster Avantax’s service offerings and operational capabilities, promising a seamless transition for clients and a bright future for WealthCare’s former employees.

Founded in 1997 by Jeffrey Watson, a Certified Financial Planner (CFP®), WealthCare Financial was created in response to the increasing demand from clients seeking sophisticated financial planning solutions. Watson’s long-standing affiliation with Avantax since 2019 paved the way for this acquisition, highlighting the firm’s reputation for delivering comprehensive wealth management services.

With the deal, two staff members from WealthCare have joined Avantax Planning Partners™, translating into enhanced operational support for financial planners. This integrates them into Avantax’s existing infrastructure, allowing them to continue working from their Indianapolis office while benefiting from the resources and technologies Avantax provides. Watson expressed his confidence in retaining the relationship with Avantax, emphasizing that it aligns with their goal of providing the best experience to their clientele.

The dialogue leading up to the acquisition was described as a thoughtful process, as Watson explored various succession options before concluding that partnering with Avantax was the most beneficial choice. He noted, "Serving clients is the most important and rewarding aspect of this business, and it quickly became clear that expanding our relationship with Avantax would help ensure the best experience for our clients." This sentiment echoes a broader strategy where firms look to integrate with larger entities to enhance client services while preserving their legacy and culture.

Andy Watts, President of Avantax Wealth Management, praised Watson’s foresight in initiating formal succession planning discussions. He highlighted the importance of continuity within the Avantax Community for WealthCare’s clients, team, and operations. "We are pleased to have helped Jeff realize the value of his business through this transaction," he stated, emphasizing Avantax’s commitment to nurturing the client relationships that WealthCare Financial had built over its years of operation.

The acquisition aligns with Avantax’s broader objective of providing tax-intelligent wealth management solutions. By offering comprehensive financial planning, tax professionals and CPA firms are equipped to minimize clients' tax burdens effectively. Avantax operates two distinct models: the independent financial professional model known as Avantax Wealth Management® and the employee-based model termed Avantax Planning Partners℠.

The latter caters to a diverse clientele, including both individual consumers and small businesses, ensuring they receive holistic financial services tailored to their specific needs. Avantax, as a unique community within Cetera Holdings, has been setting benchmarks in tax and financial planning, making significant strides in enhancing its clientele's experience.

As the acquisition merges resources and talent, clients of WealthCare Financial can anticipate enriched services and support as Avantax takes proactive steps in securing their financial futures. For tax and financial professionals looking to deepen their expertise, Avantax remains an attractive partner due to its focus on tax-smart wealth management practices.

In conclusion, the acquisition of WealthCare Financial not only marks a significant milestone for Avantax but also reinforces the importance of collaboration in the financial services industry. By blending resources, networks, and talents, Avantax is positioning itself to thrive in an increasingly competitive market, better preparing it to serve its clients well into the future.