Avantax Acquires $400M Pennsylvania Team

Avantax, a tax-focused financial planning and wealth management firm, acquired GA Investment Management, a registered investment advisor in Pennsylvania with $400 million in client assets.

The firm’s three partners, Stephen Gierl, Gary Augustine, and Tim Augustine were looking for a buyer as part of their succession plan and chose Avantax after conducting a nationwide search.

According to Gierl, Avantax’s focus on taxes was one of the reasons that cemented the deal. GA has officially joined Avantax’s RIA, Avantax Planning Partners.

“Several firms looked good to us, but what set Avantax apart was its incredible network of accounting firms, and its distinct approach of putting tax at the center of financial planning just like we do at GA, and that’s why we chose Avantax,” Gierl said.

Gierl, Gary Augustine, and GA’s other financial advisors and wealth management team have joined Avantax Planning Partners as employee-based investment advisers and staff. Tim Augustine has joined Avantax’s home office in an administrative role.

In addition to its RIA, Avantax Wealth Management is an independent broker-dealer. Cetera Holdings paid $1.2 billion for the firm, which manages more than $93 billion in client assets, last year. It will continue to operate as a separate entity within Cetera.