Cetera, an independent wealth hub and financial services provider, completed the acquisition of Avantax, a tax-focused financial planning and wealth management solutions provider, for $1.2bn. "This transaction represents the beginning of a promising new chapter together for two industry-leading firms, and we are pleased to welcome the Avantax team to Cetera. Partnering with Avantax is core to our growth strategy and capitalizes on Avantax's many capabilities that benefit financial professionals, affiliates and their clients. We are confident Avantax financial professionals, affiliates and staff will thrive at Cetera, and we look forward to serving clients together for years to come," Mike Durbin, Cetera Holdings CEO.