Avantax adds former LPL advisor in South Carolina

Avantax adds former LPL advisor in South Carolina
Carolyn Bare, independent financial advisor and founder of Trust Matters Financial.
The Cetera subsidiary continues to demonstrate the appeal of its tax focus with its latest independent advisor addition in the East Coast.
NOV 14, 2024

Avantax, the tax-focused subsidiary of Cetera, has extended its reach in the East Coast as another experienced advisor joins its platform.

The Dallas, Texas-based planning and wealth firm announced Thursday that it has welcomed Carolyn Bare, independent financial advisor and founder of Trust Matters Financial.

Based in Greenville, South Carolina, Bare brings over 16 years of experience – which include previous affiliations with LPL and Ameriprise, according to her BrokerCheck record – as she specializes in serving retirees, small-business owners and clients seeking guidance on legacy and wealth transfer strategies.

In explaining her decision to join Avantax, Bare highlighted the hybrid RIA's tax-focused approach as a key motivator.

“The single most advantageous aspect of choosing Avantax over other broker/dealers was being able to transition nonqualified accounts without taxable consequence to the client,” Bare said in a statement.

She also emphasized the value of Avantax’s proprietary tax-monitoring tools, noting their ability to provide daily insights into clients’ capital-gains situations.

“You can’t do that manually as an advisor with a sizeable business,” she said. “I’m always looking to optimize clients’ wealth by using advanced tax and investing strategies.”

While Avantax has been a leader in tax-aware investment management and planning, other wealth firms have been stepping up with their own solutions. Last week, Callan Family Office unveiled its own tech-enabled tax overlay management program to maximize after-tax returns for wealthy families, which promises greater control over capital gains, lower investment expenses, and the ability to optimize across multiple accounts and entities.

"[M[inimizing taxes on investment gains is a priority for the families we serve," Jack Ginter, CEO of Callan Family Office, said in a statement. "With our new Tax Overlay Management Program, we're leveraging technology and our expertise to help our clients grow and preserve wealth across generations."

Back at Avantax, Bare also commended the firm's framework to streamline the transition to a new broker-dealer – a taxing experience even in the best of times – with a dedicated team and a clear process.

“Transitions are hard, but Avantax put together a great transition team. I had a wonderful experience,” she said.

Prior to founding Trust Matters Financial, Bare operated a consulting firm focused on advanced trustee services, before which she served as a wealth advisor while teaching postgraduate economics courses.

Latest News

Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment
Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment

Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.

RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut
RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut

Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.

Private equity eyes 401(k) plans, but fees remain a hurdle
Private equity eyes 401(k) plans, but fees remain a hurdle

Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.

IRS floats proposal ending tax breaks for schools that weigh race
IRS floats proposal ending tax breaks for schools that weigh race

Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.

Trust over tech:  The hidden signal of stock success in the AI era
Trust over tech: The hidden signal of stock success in the AI era

Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

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