Avantax Wealth Management

Avantax Wealth Management

A subsidiary of Blucora, Inc.


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

No. of retail offices: 2,539

For More Information

CEOChris Walters
Top ExecutiveEnrique M. Vasquez
Recruiting ContactTim Stewart
(972) 870-6142
Compliance ContactCasey Griffin
(972) 870-6623
Marketing ContactNaaz Nichols
(972) 870-6428
Technology Operations ContactPaul Lehman
(972) 870-6350

Recruitment & Staffing

2019 2018 2017
No. of reps3,9843,5934,000
No. of reps, male
No. of reps, female
No. of producing reps3,4312,9073,200
No. of producing reps, male
No. of producing reps, female
No. of reps producing $100K-$499K /year584821726
No. of reps producing $500K+ /year176123111
No. of CFPs8700550
No. of full-time employees358350350
No. of fee-based advisers served1,4082,7002,129
Average payout per rep, per year$108,207$100,320$98,480
Avg. annual production of top 20% reps$414,225$347,723$326,589
Total payout, per year$443,417,493$326,744,497$303,025,203
Cost of E&O insurance per rep, per year23002200
Affiliation fees charged per rep, per yearnoneNone
Affiliation fee coverage
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 45-87% 88% 89% 89% 90%-94%
Insurance 45-87% 88% 89% 89% 90%-94%
Variable annuities 45-87% 88% 89% 89% 90%-94%
Limited parterships 45-87% 88% 89% 89% 90%-94%
Securities 45-87% 88% 89% 89% 90%-94%
2019 2018 2017
Total revenues$507,978,780$373,173,6000
Commission revenues$191,050,432$164,199,9840
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$164,353,5270
Fee revenues: Rep-managed accounts
Fee revenues: Firm-managed accounts
Fee revenues: Outside-managed accounts
Fee revenues: Other
Total revenues: Other$64,561,287$44,620,0900
2019 2018 2017
Total account assets$70,134,749,939$41,738,858,3340
Fee-based assets$27,629,508,888$12,555,485,9970
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$30,721,373,8520
Average assets per rep$17,604,104$11,616,7150

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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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