Blucora Makes Bold Moves To Boost Growth In 2020

Tax-smart financial solutions provider Blucora enjoyed a strong 2019 and is looking to carry that success forward into 2020.

The Texas-based company operates Avantax Wealth Management, the largest tax-focused broker-dealer, with $71 billion in total client assets, as well as TaxAct, a market leader in tax preparation software with approximately 3 million consumer and professional users.

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Blucora reported a 28 percent boost in total revenue last year, including its 22nd consecutive year of revenue growth at TaxAct. It also completed its acquisition of 1st Global.

The company is on track to have an eventful 2020. Earlier this month Blucora revealed that it has entered into an agreement to acquire HK Financial Services (HKFS) for $100 million. The deal will enable retirement plan services for Avantax’s small business clients and expand the usage base of its proprietary tax-smart investing software.  

And now Blucora has announced a series of organizational changes aimed at driving growth and helping the company to capitalize on its recent acquisitions and initiatives, especially in the face of the current COVID-19 crisis.

These changes include the addition of Marc Mehlman as Chief Financial Officer, while interim CFO Mimi Carsley will remain with Blucora as Treasurer and SVP of FP&A and Procurement; Curtis Campbell is now the President of Software; and Dilip Nagaraja will serve as the company’s new Chief Technology Officer.

Meanwhile, Todd Mackay has been named President of Wealth Management after serving in a number of key roles at Blucora through the years; Enrique Vasquez is taking on the newly created role of Managing Director of Practice Acquisition; Blucora’s Chief Legal Officer Ann Bruder has taken on the additional role of Corporate Development and Administrative Officer; Raj Doshi joins as Chief Growth and Marketing Officer; and Jody Diaz has been named Chief Human Resources Office.

“These changes will help us advance our strategic priorities and will also help us in delighting our customers, driving organic growth, and creating incremental value through cross-business synergies,” said Chris Walters, President and Chief Executive Officer of Blucora. “We have built a sharp, agile and dedicated leadership team that is ready to hit the ground running, and I’m looking forward to what we’ll be able to accomplish together in 2020 and beyond.”