Avantax Has Second-Highest Ratio of Women Advisors Among Broker-Dealers in Financial Planning’s IBD Elite 2023 Study
19 September 2023 - 11:15PM
Avantax®, a leader in tax-focused financial planning and wealth
management, has the second-highest ratio of women as a percentage
of producing reps – 24% – when compared with all other broker
dealers in Financial Planning magazine’s IBD Elite 2023 study.
Avantax’s ratio of women Financial Professionals also compares
favorably to the industry average of 18% (Dec. 31, 2020, Cerulli
Lodestar data).
“We are excited Financial Planning ranked us #2 in
the IBD space for women and we are working hard as one Avantax
Community to build on the progress we’ve made with the goal of
diversifying our advisor ranks even further,” said Laurie Stack,
VP, Business Development and Head of the Avantax Women’s Advisor
Forum. “Whether I’m speaking with a woman who’s a prospective
Avantax recruit, a woman already in our community, or one of our
many male allies, I make it clear that Avantax is a supportive path
to a long and rewarding career in financial services, and our proof
is the many extraordinary and successful self-made women who are
part of the Avantax Community today.”
Women are also increasingly prominent for the
financial services industry as clients. According to a McKinsey
PriceMetrix (2019) study: “By 2030, American women are expected to
control much of the $30 trillion in financial assets that baby
boomers will possess – a potential wealth transfer of such
magnitude that it approaches the annual GDP of the United
States.”
“We often hear that women clients prefer women
advisors, and while that’s not always the case, it’s a reality to
which Avantax and our women advisors are highly attuned,” said Todd
Mackay, President, Avantax Wealth Management. “As an organization,
Avantax is committed to empowering women advisors as they join our
community, just as we’re helping those already here to drive their
firms forward.”
The Avantax Community’s commitment to advancing
women in wealth management and financial services overall – whether
as women role models or male allies – includes three independent
advisors who recently affiliated with Avantax:
- “I am not surprised that Avantax is an
industry leader in women advisors. I moved my large practice to
Avantax because I knew that the professionalism evident in the
Avantax culture would translate into real benefits for my clients,
my staff and me.” - Anna Luke, CFP®, President and CEO of
Comprehensive Financial Services, who affiliated with Avantax in
July 2023.
- “As a new advisor recently affiliated
with Avantax, I was pleasantly surprised at the consistent level of
women at the recruiting and management level. I think
Avantax’s focus on tax-intelligent planning and advisory business
is a natural fit for female advisors such as myself who often
prefer to focus on big-picture planning and solutions.” Susan
Quigley, CFP®, owner of SQuigley Financial LLC, who affiliated with
Avantax in July 2023.
- “Women hold a variety of tax and
advisory roles within my firm. I’m very lucky to have them, and
it’s important to recognize the success they’re having in our
industry and to support them with the goal of getting everyone on
the same page.” – Frank Calise, CEO and Founder of CFR Capital
Group, who affiliated with Avantax in June 2023.
Tax and financial professionals can learn more
about Avantax by clicking here.
Financial Planning’s IBD Elite 2023 study
methodology: Results are based on data from 45 participating firms
in the IBD Elite. Financial Planning relied on the firms to ensure
the accuracy of the information. FP works to verify data when
possible. N/A means not applicable or not available. The 2021 data
does not always match last year’s survey because some companies
restated data; as a result, some of the rankings from the prior
year are different. The data for some firms that merged may have
also changed from last year’s survey. All figures reflect calendar
year numbers. Total revenues drive the overall IBD Elite
rankings.
No compensation was given in connection with
Avantax being ranked in the IBD Elite 2023 study.
About Avantax® Avantax, Inc.
(NASDAQ: AVTA) delivers tax-focused financial planning and wealth
management solutions for Financial Professionals, tax professionals
and CPA firms, supporting our goal of minimizing clients’ tax
burdens through comprehensive tax-focused financial planning. We
have two distinct, but related, models within our business: the
independent Financial Professional model and the employee-based
model. We refer to our independent Financial Professional model as
Avantax Wealth Management®. Avantax Wealth Management offers
services through its registered broker-dealer, registered
investment advisor (RIA), and insurance agency subsidiaries and is
a leading U.S. tax-focused independent broker-dealer that works
with a nationwide network of Financial Professionals operating as
independent contractors. We refer to our employee-based model as
Avantax Planning Partners℠. Avantax Planning Partners offers
services through its RIA and insurance agency by partnering with
CPA firms to provide their consumer and small-business clients with
holistic financial planning and advisory services. Collectively, we
had $83.8 billion in total client assets as of June 30, 2023. For
additional information, please visit us at www.avantax.com. You can
also find us on LinkedIn.
Media Contacts:Tony Katsulos
Avantax, Inc.(972) 870-6654tony.katsulos@avantax.com
Kendra GalanteStreetCred PR for Avantax, Inc.(402)
740-2047kendra@streetcredpr.com avantax@streetcredpr.com
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