Avantax Wealth Management, the wealth management business of Blucora, has acquired GuideVine Technologies for an undisclosed sum.

The deal will add lead-generation and marketing platform to Avantax’ suite of technology and tools.

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GuidVine’s platform is utilised by financial professionals to convert general consumer interest into motivated, qualified prospects.

The addition of GuideVine to Avantax’s technology suite will support the marketing requirements of Avantax’ tax-focused financial planning professionals.

The platform will utilise multiple customisable techniques to match prospective clients with Avantax’s professionals, for whom lead generation and marketing is said to be a time-consuming process.

Avantax Wealth Management president Todd Mackay remarked that the integration will help the company streamline lead-generation and client conversion for its financial professionals.

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Mackay said: “GuideVine technology will help our Financial Professionals introduce their capabilities and expertise to a much wider pool of prospective new clients.

“This acquisition reflects our commitment to using technology to support our Financial Professionals and the growth of their firms by bringing them another advantage in a highly competitive market.”

Blucora president and CEO Chris Walters added: “Integrating GuideVine into Blucora’s technology platform is an example of how we are investing in technologies that scale powerful methodologies to match our Financial Professionals’ expertise with consumers’ needs.

“We are committed to continue to support the growth of our Financial Professionals with additional sophisticated marketing approaches, and we believe that GuideVine’s considerable capabilities will help connect our Financial Professionals with a larger pool of prospective new clients.”

Blucora combined its wealth management businesses, HD Vest and 1st Global, under Avantax Wealth Management in 2019.