A tax-focused team of financial professionals has switched firms to further their practice and expand the advisory services they offer.
Whyte & Associates, Inc., based in Cucamonga, California, is run by Stephen Whyte. and includes Whyte’s wife Jennifer Whyte, son Jerry Whyte, and business partner Luis Rodriguez. The firm was founded by Stephen’s grandfather in 1951.
The decision to switch to Avantax was made following the announcement that Whyte’s previous firm, Crown Capital Securities, was being acquired by LPL Financial.
“Over the years, I’ve learned how broker-dealers work; most don’t understand our tax business and we’ve experienced some who treat tax clients like second-class citizens, but that’s not how we do business here,” Whyte said. “Not valuing my tax clients was, if you will, the straw that broke the camel’s back of my decision to look for a broker-dealer who values the tax focus as much as I do, and we found that with Avantax because they lead with taxes. I’m just disappointed we didn’t find Avantax sooner.”
While the tax side of Whyte’s practice remains an essential pillar of the business, he is also eyeing expansion of the services he and his team offer.
“I’ve been passionate about my tax business from day one because it’s the core of our family business’ legacy. But I’m also excited to expand our advisory business with Avantax tools that work with my tax-planning systems,” Whyte said. “Our family business is the perfect example of marrying tax and financial planning because we’ve gone through so many industry changes over the years. Having Avantax help us offer more advisory and financial planning services along with our tax business is like putting a twin-turbo on a Porsche.”
Avantax was recently acquired by Cetera in a deal that added $82 billion AUA and 3,111 financial professionals to the independent wealth firm.
Advisors can set their practice apart and win more business with a powerful graphic describing their unique business and value proposition.
The Labor Department's reversal from its 2022 guidance has drawn approval from crypto advocates – but fiduciaries must still mind their obligations.
With $750 million in assets and plans to hire a RIA Growth Lead, Autopilot is moving beyond retail to court advisors with separately managed accounts and integrations with RIA custodians such as Schwab and Fidelity.
Elsewhere on the East Coast, a Boca Raton-headquartered shop has acquired a fellow Florida-based RIA in "a natural evolution for both organizations."
After advising on nearly $700 million in retirement assets, 27-year veteran Greg Mykytyn is bringing his expertise in ESOP and 401(k) plans to the national RIA in Texas.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
