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.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
