Avantax Acquires SEP Financial Services
Avantax Inc. has acquired SEP Financial Services from veteran financial advisor Stephen E. Plain, who’s been affiliated with Avantax for 25 years. The tax-focused financial planning and wealth management firm was taken private by Cetera Holdings in September 2023.
Plain chose to strengthen his relationship with Avantax as part of his succession plan, which involves his practice and clients transitioning to Avantax Planning Partners, the employee-based model of Avantax. Plain had approximately $40 million in client assets under administration as of September 2024.
“Advisors think a lot about getting into business, but they spend less time thinking how they’ll get out of the business and what that means for their clients. Avantax offers its advisors webinars, coaching and other resources for succession planning and that all helped me prepare for this moment,” Plain said.