Avantax, the tax-oriented financial planning and wealth management firm under Cetera, continues to demonstrate its appeal for planning-focused advisors as it adds a seasoned professional from LPL.
On Thursday, the tax-smart broker dealer announced the addition of Ali Kazemi, an experienced financial advisor based in Northern California.
Kazemi, whose 35-year-long BrokerCheck record includes affiliations with Bank of America Citi and Wells Fargo, joins Avantax from LPL Financial, where he managed approximately $60 million in client assets as of April 2024.
Operating near San Francisco with his team, Sentinel Financial Group, Kazemi highlighted Avantax’s technology and the collaborative nature of its financial advisor community as key factors in his decision to join.
"I thoroughly enjoy being an independent broker, but have missed being part of a team and see great value in it. From the beginning, working with Avantax has felt like family," Kazemi said in a statement Thursday.
Avantax operates two business models: an independent financial professional model known as Avantax Wealth Management and an employee-based model called Avantax Planning Partners. Kazemi will work within the independent model, which aligns with his client-centered, boutique approach to service.
"I strive to provide families with A-to-Z service, whether that’s helping guide their investments, managing expenses, generating income, or managing their retirement plans," he said.
The move in California is just the latest step in the firm’s mission to welcome more advisors into its network, which as of December 31, 2023 represented $92.8 billion in assets under administration.
That book has surely grown since then as the firm logged steady wins in advisor recruitment, including a deal for a $760 million Texas-based wealth practice in May and its more recent onboarding of a $150 million duo in Long Island formerly from Osaic.
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
