Deals Of The Day: The Latest In Wealth Management M&A – Avantax, CFR Capital Group

Editorial Staff

25 August 2023

Avantax, the financial planning and wealth management business, has brought an Arizona-based firm into its embrace – CFR Capital Group – which has about $120 million in client assets, as of June 30.

The financial terms of the deal were not disclosed.

Frank Calise, founder and CEO, transferred to Avantax from Securities America, a broker-dealer of Advisor Group, as did the firm’s managing partner Edward Rodriguez, and their lead tax and financial advisor, Thomas Benscoter. The Scottsdale-based firm has a total staff of 20.

As recently as yesterday, this publication reported that Avantax has acquired Summit Wealth Advocates , a Minnesota-based firm with about $330 million in total client assets as of June 30.