Avantax Has Second-Highest Ratio of Women Advisors Among Broker-Dealers in Financial Planning’s IBD Elite 2023 Study

DALLAS – (Sept. 19, 2023) – 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) 870-6654
tony.katsulos@avantax.com

Kendra Galante
StreetCred PR for Avantax, Inc.
(402) 740-2047
kendra@streetcredpr.com 
avantax@streetcredpr.com