Avantax Acquires Summit Wealth Advocates Adding 7-Person Team And $330 Million In Total Client Assets To Avantax’S Employee-Based Model
Acquiring Company
Avantax
Acquired Company
Summit Wealth Advocates
DallasFinancial ServicesFinanceLendingConsultingAccountingDescription
Avantax®, a leader in tax-focused financial planning and wealth management, has acquired Summit Wealth Advocates (Summit), a Minnesota-based wealth management firm with approximately $330 million in total client assets as of June 30, 2023. Prior to the acquisition, Summit was not affiliated with Avantax.
Quick answer
Avantax is acquiring Summit Wealth Advocates for $330 million, announced August 22, 2023. Avantax is based in Dallas, Texas, United States.
- How much did Avantax pay for Summit Wealth Advocates?
- The reported deal value is $330 million.
- What does Avantax do?
- 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..
- Where are Avantax and Summit Wealth Advocates based?
- Avantax is based in Dallas, Texas, United States.
Source: Fundz verified event record.
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Frequently asked
Who acquired Summit Wealth Advocates?
Summit Wealth Advocates was acquired by Avantax, based in Dallas. The deal was reported on August 22, 2023. Avantax, Inc. Avantax is privately held and operates in Financial Services.
When did Avantax acquire Summit Wealth Advocates?
Avantax's acquisition of Summit Wealth Advocates was reported on August 22, 2023. Avantax®, a leader in tax-focused financial planning and wealth management, has acquired Summit Wealth Advocates (Summit), a Minnesota-based wealth management firm with approximately $330 million in total client assets as of June 30, 2023. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Summit Wealth Advocates do?
Summit Wealth Advocates is the company acquired in this transaction. It is privately held.
This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.
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