Blucora’s Avantax to acquire $1.1 billion New Jersey RIA
Parsippany-based Headquarters Advisory Group's three principals will become financial planning consultants with Avantax Planning Partners.
Avantax, the wealth management arm of Blucora, a Dallas-based financial technology firm, has agreed to acquire Parsippany, New Jersey-based Headquarters Advisory Group, a registered investment adviser managing approximately $1.1 billion in assets.
The transaction, terms of which were not disclosed, is expected to close before the end of September.
Avantax’s in-house RIA currently manages $85 billion.
After the transaction closes, Headquarters Advisory Group partners Samuel J. Angelo, John J. Crowe and Michele I. Lee will become financial planning consultants with Avantax Planning Partners, formerly HK Financial Services.
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