© Fort Worth Business Press, 3509 Hulen St. Suite 200 Fort Worth, TXCompany Increases Existing Credit Facility in Conjunction with TransactionBlucora Inc. (NASDAQ: BCOR), an Irving-based provider of data and technology-driven tax software and wealth management solutions, has announced it closed the acquisition of HK Financial Services, a fast-growing, CPA-focused registered investment advisor, for an upfront purchase price of $100 million.You need news and information essential to doing business in Fort Worth. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. Blucora, Inc. (NASDAQ: BCOR) is on the forefront of financial technology, a provider of data and technology-driven solutions that empowers people to improve their financial wellness. The publicly traded company will now buy HK Financial Services for $100 million, down from $160 million in the original agreement, but adds a contingency agreement for performance-based payouts. Represented Blucora, Inc. in its acquisition of HK Financial Services, a tax-focused wealth management company based …
All Rights Reserved.Please be advised that Registered Representatives affiliated with HKFS hold various licenses in various states. And, there is so much opportunity ahead of us,” Clendening said.HK Financial receives about 65% of its referred wealth management revenue from the CPA partner firms participating in the program, according to Blucora. InfoSpace changed its name to Blucora and NASDAQ symbol from INSP to BCOR on June 7, 2012. Blucora, Inc. (NASDAQ: BCOR), a leading provider of tax-smart financial solutions that empower people’s goals, today announced it has entered into an agreement to acquire privately-held HK Financial Services (HKFS), a CPA-focused, (captive) registered investment advisor (RIA). Minimum 15 minutes delayed. Louie Rosalez, President of HK Financial Services, said, “Blucora embodies our mission to take a holistic approach to serving our clients’ wealth management needs, and is the ideal partner for HKFS. “Given the fundamental differences in business models, and preferences of tax professionals as described earlier, HK Financial Services will be run as a third division of Blucora, with very little integration and no overlap, eliminating risk of disruption to the Avantax advisors,” he added. Blucora is uniquely able to help people reap those benefits through our integrated suite of products and services, which enable people to accurately file their taxes with optimal deductions and savings, while also giving them the ability to use their tax data for investing. Blucora Announces Planned Acquisition of HK Financial Services News | January 7, 2020. (RTTNews) - Blucora, Inc. (BCOR) has agreed to acquire privately-held HK Financial Services in a stock purchase deal with a price of $160 million. The combination adds approximately $4.4 billion to Blucora’s total client assets, bringing the total to more than $72 billion, with approximately 42% in advisory assets.The complementary nature of the transaction is expected to expand Blucora’s established leadership in tax-aware investing and enhance its ability to better service clients and enable better outcomes.
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