Avantax Has Second-Highest Ratio of Women Advisors Among Broker-Dealers in Financial Planning’s IBD Elite 2023 Study

DALLAS, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Avantax, a leader in tax-focused financial planning and wealth management, has the second-highest ratio of women as a percentage of producing reps – 24% – when compared with all other broker dealers in Financial Planning magazine’s IBD Elite 2023 study. Avantax’s ratio of women Financial Professionals also compares favorably to the industry average of 18% (Dec. 31, 2020, Cerulli Lodestar data).

“We are excited Financial Planning ranked us #2 in the IBD space for women and we are working hard as one Avantax Community to build on the progress we’ve made with the goal of diversifying our advisor ranks even further,” said Laurie Stack, VP, Business Development and Head of the Avantax Women’s Advisor Forum. “Whether I’m speaking with a woman who’s a prospective Avantax recruit, a woman already in our community, or one of our many male allies, I make it clear that Avantax is a supportive path to a long and rewarding career in financial services, and our proof is the many extraordinary and successful self-made women who are part of the Avantax Community today.”

Women are also increasingly prominent for the financial services industry as clients. According to a McKinsey PriceMetrix (2019) study: “By 2030, American women are expected to control much of the $30 trillion in financial assets that baby boomers will possess – a potential wealth transfer of such magnitude that it approaches the annual GDP of the United States.”

“We often hear that women clients prefer women advisors, and while that’s not always the case, it’s a reality to which Avantax and our women advisors are highly attuned,” said Todd Mackay, President, Avantax Wealth Management. “As an organization, Avantax is committed to empowering women advisors as they join our community, just as we’re helping those already here to drive their firms forward.”

The Avantax Community’s commitment to advancing women in wealth management and financial services overall – whether as women role models or male allies – includes three independent advisors who recently affiliated with Avantax:

• “I am not surprised that Avantax is an industry leader in women advisors. I moved my large practice to Avantax because I knew that the professionalism evident in the Avantax culture would translate into real benefits for my clients, my staff and me.” - Anna Luke, CFP, President and CEO of Comprehensive Financial Services, who affiliated with Avantax in July 2023.