Avantax Welcomes CFR Capital with $120 Million in Total Client Assets

Rhea-AI Summary

CFR Capital Group, a financial services firm with $120 million in client assets, joins Avantax due to its tax focus and technology. Avantax's culture and community also attracted CFR Capital Group. Avantax aims to support CFR Capital Group's growth plans and enhance client service.

Positive

• CFR Capital Group joins Avantax, boosting its client assets and expanding its tax-focused financial planning capabilities.
• Avantax's technology provides a true snapshot of clients' financial lives, enhancing their financial planning experience.

Negative

• None.

Scottsdale-based firm attracted by Avantax’s technology, tax-focus and collaborative community

DALLAS, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Avantax^®, a leader in tax-focused financial planning and wealth management, welcomes CFR Capital Group, an Arizona-based financial services firm with approximately $120 million in total client assets, as of June 30, 2023. The firm’s approach to comprehensive tax and financial planning for clients includes its ownership of three active H&R Block franchises in Arizona.

“Avantax’s tax focus and technology was key for us because we’re so diversified, doing tax returns and financial planning, we needed technology to give clients a true snapshot of everything going on in their financial lives. Avantax’s technology was a big reason for our affiliating,” said CFR Capital Group CEO and Founder Frank Calise. “We’ve always told clients, ‘It’s not what you make, it’s what you keep.’ Our niche is helping clients reduce taxes as much as possible so they can keep more of what they earn, and Avantax shares that same commitment to looking at everything through the lens of tax planning.”

Calise transferred to Avantax from Securities America, a broker-dealer of Advisor Group, as did the firm’s managing partner Edward Rodriguez, and their lead tax and financial advisor, Thomas Benscoter. The Scottsdale-based firm has a total staff of 20.

“Frank and his team have an unwavering commitment to their clients and to helping guide them along their financial journey with tax, financial and investment advice, which is a perfect fit for Avantax,” said Todd Mackay, President, Wealth Management at Avantax. “We’re eager to support Frank and his team with the technology and the Home Office resources they want to further enhance their client service while pursuing the long-term growth plans Frank has for his firm.”

In addition to having the right tools, technology and tax focus, Calise said Avantax’s culture and community made it clear he’d found the right financial services partner.

“The whole country is filled with people who need financial advice. I’ve never considered other advisors as competition, so collaborating with other Avantax advisors is something I’m looking forward to,” Calise said. “Throughout the process, I was impressed with everyone we met from Avantax, and I’m not easily impressed. They were all incredibly prepared and took the time to answer all our questions. Avantax’s transition team is the best I’ve seen in my 25 years in this business. We couldn’t be any happier.”

Tax and financial professionals can learn more about Avantax by clicking here.

Avantax and H&R Block are unaffiliated entities.

About Avantax^®
Avantax, Inc. (NASDAQ: AVTA) delivers tax-focused financial planning and wealth management solutions for Financial Professionals, tax professionals and CPA firms, supporting our goal of minimizing clients’ tax burdens through comprehensive tax-focused financial planning. We have two distinct, but related, models within our business: the independent Financial Professional model and the employee-based model. We refer to our independent Financial Professional model as Avantax Wealth Management®. Avantax Wealth Management offers services through its registered broker-dealer, registered investment advisor (RIA), and insurance agency subsidiaries and is a leading U.S. tax-focused independent broker-dealer that works with a nationwide network of Financial Professionals operating as independent contractors. We refer to our employee-based model as Avantax Planning Partners^℠. Avantax Planning Partners offers services through its RIA and insurance agency by partnering with CPA firms to provide their consumer and small-business clients with holistic financial planning and advisory services. Collectively, we had $83.8 billion in total client assets as of June 30, 2023. For additional information, please visit us at www.avantax.com. You can also find us on LinkedIn.

Media Contacts:
Tony Katsulos
Avantax, Inc.
(972) 870-6654
tony.katsulos@avantax.com

Kendra Galante
StreetCred PR for Avantax, Inc.
(402) 740-2047
kendra@streetcredpr.com
avantax@streetcredpr.com