Avantax Advisory Services
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Learn more about Avantax Advisory Services
Avantax Advisory Services is a financial advisor company that has its headquarters in Coppell, Texas. The company oversees $31.0 billion in assets under management over 123,393 customer accounts, placing it among the largest firms in the nation by assets under management (AUM). It has a very large group, including 2,433 financial advisors. Avantax Advisory Services does not act as a registered broker-dealer, meaning the firm is not able to buy and sell securities for its own accounts as well as its customers' and instead is required to go through a broker-dealer firm to do so. Securities are defined as tradable fiscal investments like bonds, stocks and options.
Avantax Advisory Services manages more than half of the company's accounts on a discretionary basis. Discretionary management is a structure in which an investment advisor has the discretion to make buy and sell decisions without needing to seek the client's authorization. The company also has 28,012 non-discretionary accounts with a total of $7.6 billion in assets under management. The advisory firm's average account size is $250,972. An average advisor at Avantax Advisory Services oversees about 51 client accounts, making it about average in terms of personalization.
The firm's central office is located at 3200 Olympus Blvd, Coppell, Texas 75019. The company is legally registered to serve customers throughout 51 U.S. states and territories.
Assets Under Management
Number of Advisors
Avantax Advisory Services by the Numbers
Products and Services
Avantax Advisory Services offers a variety of services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers, educational seminars and other services. In the past fiscal year, the firm provided 251-500 of its accounts with financial planning services. The company does not sell products or offer services other than investment advice to its investment advisory accounts. The company is also affiliated with one or more other service providers in the financial services industry, including with a broker-dealer or securities dealer, accountant or accounting firm, lawyer or law firm, insurance company or agency and pension consultant.
Core Advisor Services
Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
Offered by 46% of firms
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
Find a firm that offers this service
Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
Find a firm that offers this service
Publication of Periodicals
This is the publication of various financial education materials.
Offered by 6% of firms
This is the hosting of seminars or workshops to educate investors on financial concepts.
A financial advisor's fees usually vary depending on the type of services offered. Fee types charged by the firm can be comprised of the following fee structures: asset-based, fixed or other. Wrap fee programs, or the practice of bundling services for a single fee, are offered by Avantax Advisory Services.
Offered by 69% of firms
Percentage of AssetsShow Explanation
This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.
Offered by 32% of firms
Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.
Offered by 10% of firms
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
Find one of the 21% of firms that offer this fee type
Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.
Find one of the 1% of firms that offer this fee type
Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.
Find one of the 26% of firms that offer this fee type
Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.
Find one of the 0% of firms that offer this fee type
Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.
Types of Clients
Avantax Advisory Services manages money for a number of different customers. The firm caters to retail investors, high net worth investors, pension plans, corporations and other. Out of its 123,393 customers, Avantax Advisory Services's biggest client by number of accounts is retail investors, although it also manages money for 5,188 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers are represented by people from outside of the U.S.
- High-Net-Worth Individuals* - 6.08%
- Other Individuals - 91.27%
- Corporations - 2.65%
- Charitable Organizations - 0%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Avantax Advisory Services does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Avantax Advisory Services
Ann Arbor, MI
Pine River, MN
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