Avantax Wealth Management

Avantax Wealth Management


6333 N. State Highway 161

Irving, TX 75038

(800) 821-8254


Clearing firm: National Financial Services LLC

No. advisers: 3,984

AUM: $70,134,749,939

Year founded: 1983

Year end: Dec. 31

For More Information

Top ExecutiveTodd Mackay
Recruiting ContactTim Stewart
(972) 870-6142
Compliance ContactCasey Griffin
(972) 870-6623

Mike Pagano
(214) 294-5303
Marketing ContactRaj Doshi
Technology Operations ContactPaul Lehman
(972) 870-6350

Recruitment & Staffing

2020 2019 2018
No. of reps3,8253,9843,593
No. of reps, male
No. of reps, female
No. of producing reps3,4312,907
No. of producing reps, male
No. of producing reps, female
No. of reps producing $100K-$499K /year584821
No. of reps producing $500K+ /year176123
No. of CFPs8700
No. of full-time employees358350
No. of fee-based advisers served1,4082,700
Average payout per rep, per year$108,207$100,320
Avg. annual production of top 20% reps$414,225$347,723
Total payout, per year$443,417,493$326,744,497
Cost of E&O insurance per rep, per year2,3002300
Affiliation fees charged per rep, per year1,800none
Affiliation fee coverageFINRA Processing, Bonding/processing, audit fee, IAR renewal fee, disclosure document fee, branch office fee
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 45%-86% 86%-90% 86%-90% 86%-90% 90%-94%
Insurance 45%-86% 86%-90% 86%-90% 86%-90% 90%-94%
Variable annuities 45%-86% 86%-90% 86%-90% 86%-90% 90%-94%
Limited parterships 45%-86% 86%-90% 86%-90% 86%-90% 90%-94%
Securities 45%-86% 86%-90% 86%-90% 86%-90% 90%-94%
2020 2019 2018
Total revenues$507,978,780$373,173,600
Commission revenues$191,050,432$164,199,984
Securities revenues$82,604,507$67,350,103
Securities revenues: Stocks$8,752,263$7,354,537
Securities revenues: Bonds$292,159$503,233
Securities revenues: ETFs
Securities revenues: Other
Mutual fund revenues$22,579,104$22,860,643
Annuities revenues$41,882,302$33,270,242
Annuities revenues: Fixed$19,080,713$14,159,994
Annuities revenues: Variable$22,801,589$19,109,390
Annuities revenues: Other
Insurance revenue
Insurance revenues: Life
Insurance revenues: Disabilities
Insurance revenues: LTC
Insurance revenues: Other
Alternative revenues$9,311,690$3,361,364
Alternative revenues: Hedge funds
Alternative revenues: Managed futures
Alternative revenues: Private placements
Alternative revenues: REITs$8,495,898$2,904,807
Alternative revenues: Other
Other commission revenues
Fee revenues$252,367,061$164,353,527
Fee revenues: Rep-managed accounts
Fee revenues: Firm-managed accounts
Fee revenues: Outside-managed accounts
Fee revenues: Other
Total revenues: Other$64,561,287$44,620,090
2020 2019 2018
Total account assets$70,134,749,939$41,738,858,334
Fee-based assets$27,629,508,888$12,555,485,997
Fee-based assets: Clearing firm
Fee-based assets: Advisory firm platforms
Fee-based assets: Third-party money managers
Fee-based assets: Other
Total account assets: Other$42,505,241,051$30,721,373,852
Average assets per rep0$17,604,104$11,616,715

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Social Media & Mobile
Software Offered
Account aggregation software Built in house/Proprietary
DST Vision Pro
Compliance software NRS ComplianceMAX (National Regulatory Services)
Protegent Surveillance (SunGard Data Systems Inc.)
Built in house/Proprietary
CRM Built in house/Proprietary
Document management Microsoft Office Document Imaging in combination with Microsoft Office SharePoint Server (Microsoft Corp.)
Built in house/Proprietary
Financial planning eMoney360 (eMoney Advisor)
FinanceWare Wealthcare
Portfolio management Envestnet (Envestnet)
Morningstar Office (Morningstar Inc.)
Built in house/Proprietary
Portfolio rebalancing Built in house/Proprietary
Offers robo-advisory platform?N
If not, when plans to offer a robo-platform0-6 months
Robo-advice services offered
How robo-platform developed
Charge for robo-advisory services?
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

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