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.
Industry report details decades-long trends in expense ratios, 2024 fee movements, and how shifts in advisor compensation have played a role.
The Republican leader's call to end the death tax, part of a long and growing wish list of cuts and reductions, would offer relief to a small but important sliver of America's wealthiest taxpayers.
The 2024 bump in bonuses made for the largest total pool in records going back to 1987, but economic uncertainty and federal changes weigh on this year's outlook.
'I feel like they have created an addictive gaming culture, which is not healthy for investing.'
The collaboration gives Dynasty's $105 billion network of over 500 advisors access to new custodial services, asset management, and lending expertise.
This wealth management platform finally delivers on the technology promises other firms couldn't - giving advisors a better way to scale and serve
In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'
