Avantax Inc. has acquired the assets of WealthCare Financial Group LLC, an Indianapolis-based tax and financial planning firm whose representatives have affiliated with Avantax since 2019. Avantax is a unique community within Cetera and a leader in tax-focused financial planning and wealth management.
Founded in 1997 by Jeffrey Watson, CFP®, WealthCare Financial had approximately $180 million in total assets under administration as of February 28, 2025. Watson founded the firm in response to demand from his clients for independent, tax-smart financial planning. Through the acquisition, two WealthCare Financial staff members joined Avantax Planning Partners, the W-2 model of Avantax, as employees of the financial planning team and the operations team supporting financial planning consultants on client-related matters; they continue operating from their Indianapolis office.
Watson said that after evaluating succession options he decided to stay with Avantax because it was the most seamless option for his clients and employees.
“Serving clients is the most important and rewarding aspect of this business, and it quickly became clear that expanding our relationship with Avantax would help ensure the best experience for our clients,” Watson said. “In addition, our team members have bright career paths ahead as Avantax employees, and this new relationship chapter expands the services we provide clients while leveraging Avantax’s tools, technologies and resources.”
Avantax Wealth Management President Andy Watts noted the significance of Watson engaging Avantax in formal succession planning, stating, “Our Corporate Development team had an initial discussion with Jeff about the future of WealthCare Financial, and the dialogue grew from there. The discussions confirmed that keeping the practice within the Avantax Community was important to Jeff, his team and his clients. We are pleased to have helped Jeff realize the value of his business through this transaction with Avantax, and we look forward to serving his clients for years to come.”
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Tags: Accounting
