Avantax, a specialist in tax-focused financial planning, has acquired Pennsylvania-based Warner Finance, with approximately USD258 million in total client assets as of 11 October, 2021.
The transaction expands the presence of Avantax’s employee-based RIA (registered investment advisor) while enabling the Warner team to focus on new growth opportunities as they leverage the significant staff, technology and resources of Avantax.
“After successfully growing my business for many years, I was interested in a path that would monetise my business but also let me focus more on serving my clients and less on the day-to-day dealings of running an office. I also wanted to branch out into different areas, and bring some exciting new offerings to clients,” says Stanley B Warner III, CPA, MBA, President of Warner Finance. “Transitioning to Avantax’s employee-based RIA lets us become part of an even larger financial planning effort, and now we can grow more of a regional business. That growth component and the ability to work on new opportunities is what’s so exciting.”
As part of the transaction, Warner and Financial Professional Ann Tracy have continued with the Avantax community, becoming Financial Planning Consultants with Avantax Planning Partners℠. Their three staff members have stayed with the Warner team as Avantax employees.
Warner noted that direct access to Avantax’s senior leadership factored into his decision.
“The open-door and open-communication policy of top management was a 100 per cent factor. When I initially emailed Todd about possibilities, he got back to me within 24 hours so we could discuss details,” Warner says. “I like the way Avantax works. Being part of Avantax for the long haul is definitely the best thing for me, my team and our clients.”
The Warner Finance transaction follows Avantax’s acquisition of New Jersey-based Headquarters Advisory Group LLC. These two recent firm acquisitions further strengthen the footprint and capabilities of Avantax’s employee-based RIA through the Northeast.
“We couldn’t be more pleased with Stan’s decision because he’s shown the appetite and ability needed to achieve high growth while maintaining top client service, and that’s the recipe for success in our relationship-driven business,” says Louie Rosalez, President of Avantax Planning Partners. “This is an excellent strategic fit for Warner Finance and Avantax because we share the same intense client focus and commitment to comprehensive tax-smart financial planning. The support of Avantax and our team allows Stan more time to serve clients and grow his business throughout the Northeast.”
The Warner Finance transaction highlights how Avantax’s flexible affiliation models support the company’s commitment to Financial Professionals’ long-term success.
“When Stan first messaged me to explore evolving his relationship with Avantax, it was clear he was looking at this through the lens of his client base. He had two clear objectives: he wanted to grow and deepen his client relationships, and he wanted succession certainty, knowing that his clients would be served with the same intense focus down the road,” says Todd Mackay, President of Avantax Wealth Management®. “With Avantax’s multiple affiliation models, the sky’s really the limit for our Financial Professionals, whether in the independent model or by joining our employee model like Stan has done. In the end, our focus is always on the client and how Avantax and our Financial Professionals can profoundly impact clients’ lives by changing the way Americans plan and invest.”