Irving-based Blucora to Acquire 1st Global Expanding Wealth Management Assets to Nearly $60 Billion

Irving-based tax-focused wealth management company Blucora Inc. will acquire 1st Global Inc. for $180 million, according to an announcement Tuesday.The acquisition will create a wealth management company with about $60 billion in total client assets, and is structured through a $180 million stock purchase.Blucora is the parent company of independent broker-dealer HD Vest and TaxAct which provide tax filing software and assistance. The acquisition is one Blucora sees as strategic in the wealth management services it provides.1st Global provides similar services and bills itself as the No. 2 tax-focused independent broker-dealer based on total revenue right behind HD Vest. Both companies say the acquisition benefits the clients they serve.  Continue reading...

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