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M&A Deal Summary

Cetera Acquires Avantax

On September 11, 2023, Cetera acquired financial services company Avantax for 1.2B USD

Acquisition Highlights
  • This is Cetera’s 7th transaction in the Financial Services sector.
  • This is Cetera’s largest (disclosed) transaction.
  • This is Cetera’s 6th transaction in the United States.
  • This is Cetera’s 2nd transaction in Texas.

M&A Deal Summary
Date 2023-09-11
Target Avantax
Sector Financial Services
Buyer(s) Cetera
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) PJT Partners (Financial)
Sidley
Haynes and Boone (Legal)

Target

Avantax

Coppell, Texas, United States
Avantax delivers tax-focused financial planning and wealth management solutions for financial professionals, tax professionals and CPA firms, supporting its goal of minimizing clients’ tax burdens through comprehensive tax-focused financial planning. Avantax has two distinct, but related, models within its business: the independent Financial Professional model and the employee-based model. Avantax was incorporated in 1983 and is based in Coppell, Texas.

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Buyer(S) 1

Buyer

Cetera

San Diego, California, United States
Category Company
Founded 2010
Sector Financial Services
DESCRIPTION

Cetera is a network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera was founded in 2010 and is based in San Diego, California.

DEAL STATS #
Overall 7 of 8
Sector: Financial Services M&A 7 of 8
Type: Add-on Acquisition M&A Deals 5 of 6
State: Texas M&A 2 of 2
Country: United States M&A 6 of 7
Year: 2023 M&A 4 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 Powell Financial Partners

Georgetown, Texas, United States

Powell Financial Partners provides independent financial advice and real-world financial planning and wealth management solutions. Powell Financial Partners was founded in 1979 and is based in Georgetown, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-13 Pillar Financial Group

Seattle, Washington, United States

Pillar Financial Group is a multigenerational, planning-centric, fiduciary firm that creates customized financial plans. Pillar Financial Group is based in Seattle, Washington.

Buy -
Mergr

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