Cetera Holdings-owned Avantax announced Tuesday that it added financial advisor Andrew Erickson, Founder of Park Ridge, Illinois-based ClearGuide Wealth, from Edward Jones, where he had about $143 million in client assets under administration (AUA) as of July 30. Erickson was with Edward Jones for eight years.
“Having more tools and flexibility and being able to give my clients a better experience compared to where I was before … was my main reason for switching to Avantax,” Erickson said. “What sealed the deal for me is the relationship Avantax has with CPAs and Avantax’s deep understanding of how to work seamlessly with tax professionals including knowing what information is most valuable to them. I found that very compelling.”
He added, “Avantax isn’t a small company, but they have a small-company feel where I know I can get on the phone and talk with any department head at any time. Having direct access to leadership and other key people at the Avantax Home Office was really impactful for me. Talking to other broker-dealers, I didn’t get that same feeling because at other firms everyone seemed so siloed.”
Erickson also said he believes his Certified Exit Planning Advisor (CEPA) certification from the Exit Planning Institute, along with Avantax’s tax-based approach to financial planning and wealth management, put him in a strong position to keep improving the client experience.
“CEPA was really interesting because it benefits me as I counsel business-owner clients, helping them get the most accurate business valuation possible,” Erickson explained. “I also can help with the transaction when they sell, and how to handle proceeds, all of which helps the client get the most value possible for their company.”
While welcoming Erickson to Avantax, Laurie Stack, Vice President of Business Development at the firm, said, “We’re thrilled Andy decided to join Avantax because he’s deeply committed to growing his practice while working with tax and accounting professionals, including those already affiliated with Avantax.”
She added: “Andy is a disciplined and proactive independent financial advisor, as exemplified by how he pursued the CEPA certification as another way of delivering the best possible client experience.”
Avantax recently announced it added 10 new independent financial advisors with about $390 million of combined AUA so far in 2024 as the firm said its recruitment efforts continued to be robust. In 2023, Cetera acquired Avantax in a transaction valued at about $1.2 billion. Avantax had $92.8 billion in AUA as of Dec. 31, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
