Blucora is set to bring together its wealth management businesses, HD Vest and 1st Global, under a single roof.

Both HD Vest and 1st Global are tax-focused wealth managers. They collectively oversee over $67bn in assets and have 4,200 advisers.

The combined entity will operate under the name Avantax Wealth Management, offering “tax-focused advice with cutting-edge tools and software”.

Blucora president and CEO John Clendening said: “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.”

The rebranding will be a two-phased process. HD Vest, which Blucora acquired in 2015 for around $580m, will adopt the new brand in the middle of this month.

1st Global, which Blucora took over this March in a $180m deal, will adopt the new name after securing the regulatory nod.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Blucora president of wealth management Enrique Vasquez said: “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.

“Each year investors give up 1-2 percentage points of performance to taxes – we look forward to working with our advisers to elevate their businesses, communicate the importance of a tax-focused approach, and most importantly provide better solutions and results for clients.”