morning good everyone. and Bill, Thanks,
acquisitions XXXX. our strategy, I'm of my excited Blucora's in of have since as speaking to HD including and And from I've Xst you vision, played current championing serving Blucora. that Vest, role developing capacity driving of centric our seat an the had pleasure CEO Board active first time of all and our for on of the be Directors in HKFS. with tax Global,
been with exactly for to be was of engine reasons them position the of CEO consumers for spearhead and the growth company, interested more great including that with I'm Blucora position. lives. I expand better you. I Blucora to value opportunities, our pleased purpose accelerate to I the the financial short, CEO the of and can business, be company to have into believe maximizing the with so my has and its genuinely all itself insight transition has to In growth of It's challenges, that excited live for take couldn't role phase growth also future. to a potential about the successes, the organic how the enabler. work these benefit had cash and next great the I also and able enabling
were lot a or tax have better today, and on We on cover our both Avantax and update metrics, fourth in for target than that including record annual results an quarter to all performance ranges TaxAct season. line
So let's dive in. right
Management. million, $XXX.X Fourth income Management quarter our the million which mid-point On was assets. billion was ranges. of client about or client were ended above million segment were assets Starting Wealth and total first quarter we revenue basis, $XXX net the $XX.X Wealth in flows target into consolidated and total $XX with with both a of at
client inflows assets Net $XX.X and $XXX of million quarter portion we were total ended a Advisory advisory assets. as the with assets into in quarter in about advisory the billion assets XX%. quarter at the ended fourth
I out Management. here updates for call few A Wealth will
backend teams. our of and efficiently. success and with Global wealth will had service segmented We where operational following Global Xst regional service with leveraging to in to advisors Xst combination teams business management enhanced through structure processing of us the support advisor our area final great groups dedicated enhanced more provide the which even functions completed small we allow quarter, operate support the During in acquisition,
initiative streamline well advisor metrics integrate been platforms executing rolled enhance has action team a will also on improve received the and operations been successfully has to results advisors. the The to The functionality. experience. that deadline to to robust our out and We plan achieve by service continue
office home and Xst and the of cross-selling planning QX, of offering, the including between benefit some to Global more clients. Legacy Vest products select in the to HD a products all with more solutions come began advisory advisor retirement popular We business
strong established advisor XX advisors, joining than pro be transfers. to new as continues with new Recruiting more advisors in well including as QX, tax
added in representing approximately with firm prospecting the another quarter client accounting revenue assets. in $X in million cumulative estimated high value an also We total opportunity accounting and billion $XX
capture proprietary As few across identify to for Investing it have a advisors accounts, relates which to help a clients very platform updates. Tax or systematically multiple TSI, Smart is we designed alpha and positive tax
exceeding about advisors our on XXX good. First, roll-out goal the began with to advisor advisors year and feedback base Xst there. Overall and we ended adding continues advisors significantly XXX end-clients from of our the XXX very to about platform, Legacy we Global be
Second, capital gains we opposed and on focus annual our This module, funds. launched the and the advisors our second Gains estimates captures client Capital to reports more as allows which gathering. officially to mutual planning module outcomes data of Analyzer,
a X.X Tax-Loss the losses for streamlines in version data conversations. new time. launched can other We adds client lot deeper Version to fraction incremental also reporting the gains of level of and Harvester, clients which and for those detail The offset identify
we month, module relative for TSI each Social this flow partner TSI on a Planning. their specific on positive. needs couple. module This their Security quite is test in social benefits a of this the update that feedback just and module, clients helps security Early last on cash launched based third beta is benefits maximizes The optimize our
to in in of tax broader advantaged $X.X strategy Financial news CPA $XX transaction Services. total announcement Wealth expected pending on than $XX firms, our January management intent big our This to to more numbers billion. wealth XXXX with total early other Management approximately arena advisors, solutions just recently and delivering reinforces year-end based to we billion. The assets, ended acquire By comparison, our of client HK to billion over the Blucora's the bringing end-clients. with The combination is HKFS add was
XX% So that total growth in almost one assets year. client in about would represent
and RIA firms established in advisors, and the Management or available firm aware to a to opportunities, our nature enables complementary management CPAs in a us while investing. strengthening company's becoming it firms engine, they Blucora's to wealth to outsource serve expand importantly, ultimately transaction the growth and work Most be enhance The expand of growth tax want add CPA they leadership further market, Wealth coordination. prefer profit expected the is addressable served ensuring for essentially turnkey independent trust, who way CPA to with close either model the
optionality, As offering and recruiting to our enhance we of CPA more give them firms, the efforts. will performance increase it
division Financial reminder, risk of be a a of HK integration with disruption Avantax As run no Blucora overlap, advisors. Services and as little very to the third will eliminating
to customary expect around close conditions. to continue first of end the the subject the to transaction We closing quarter
the $XX we Global has team the full-year growing in acquisition, XXXX, great but total date, of diluted at more a EBITDA at accomplished and scale following share of share, $X achieving from Global the May our capabilities talent Xst acquisition last than organization. by deal non-GAAP the repurchase added which by related at achieving than to and monetized is the cash bringing income Wealth our high a XX%, maintaining double year significant as in generating growing company achieving TaxAct net approximately in XX%, flows growing XX%, flow, implementing whole, estimate growth by earnings more which while synergies including revenue, billion our time advisory, original $X.XX Xst look addition least, program record authorization. consecutive million a units, great into adjusted XXnd net recurring Global growing $X into at revenue acquiring not $X.X the by And a the Management Xst starting improving the revenue $XXX per free back XX%, including mark of million really XX% stability million new For and crossing complementary including revenue
and strengthening the significant the groundwork while opportunities to In capture see investing platform XXXX, financial we laying our strong generated we results ahead. for future, the
even made we've about excited here. good from While go progress, I'm where we'll more
and our move on So updates season. let's preparation to the current tax
total aware, be free are a spending February roughly flat marketing, filings both with continues volumetric are up free assisted the messaging high to on be and may focused offering, year-over-year you players DDIY filings as offerings. storefront of with about on and their aggressively around Competitive intensity As the hybrid X.X% leaders and focusing X. IRS
on into moment. I'm and excited last To more of made in of backdrop, we pricing. several a experience, we'll success this Against with building targeting growth significant which balanced about units we achieve so, came across discuss user this to do goal a season, our year in improvements the and detail in particularly more
As you and is all is this unique, no know, every one different. tax season
but of progress in the excited So making do are the we as season, we through to optimize the far have season. a same forward opportunities move we certain time, at this areas about lot we're
we areas about a So well optimize let's the we're the touch excited bit as on want to further. areas as
invest have reimagining user code of the need discussed do couple the our customer in the both of And legacy that updating labor. see we to the I'm improve In our we've share to to as well so fruits experience. calls, to we last started to happy our continued experience. as
having last are For the example, by a of good Also, year also result. points the and and made running rate retention which returning four desired we is product last points. time improvements our conversion year, offseason our were up that this underlying rates for versus is ones five indicator complete right the customer ahead for engine in
we especially higher this is free the enjoy don't our around in have challenges. advantage that competitive have as the of pricing. spots, today, And bright well skews very As versus we those volumetric end also with where do faced market, we a leaders terms the we product still
acquire significantly The a to free up. is price customer
of marketing the improving. position previous optimize were our free at a of e-files as bit on with to was been about XX season, out and in a starts early what in relatively At overall resonating in through We a growth. resulting down start which initially the has with perspective, that season season point February down expectations cost in is the early seasons, in to product, the Along this continue space profitable our XX% to pressure balance of time the with market, been find albeit from filers, also messaging top this case, and below right lags this XX%. with point performance funnel focused we not the
season A spend to tax filers last year; on given couple of two, to peak here. marketing somewhat ramp who of season. things the delayed our in paying note business the later One, compared disproportionately would second focus ground in in our we make up our I file tends
I funnel in we're the opportunities peak. I'm is for to top our improve and that team remainder see performance where and closely season. ensure position the We in This with an best possible approach of of the to the experience area have significant second working
X% to comfortable the our prior-year segment XX.X% includes XX.X% of All which with XXXX, versus revenue for of as factors comparable growth in half the the to prior adjusted margin SimpleTax. first of considered X% remain we outlook for range on period
page every to countless filers it while The number less our to believe scouring of a offseason, more been has points in well experience, client significantly improving level our seasons. as experience We will removing which hope team at every journey, on teams drive customer the better of subsequent product as this hours season per with back the customer increases customer in season, attention over spent every Switching reflected friction and continue during is complexity. leakage the making improved one in funnel, experience. we and this in focus in conversion word the easier much enjoyable, the
Plan. features, These custom We've branded more have taxes improved also for will save filers new include which feature This believe differentiation. and creates strong a TaxAct plan launched to on a year. we next and Tax appeal My new
each personalizes benefit feature will next them We technology customers a be plan year. and save. includes amounts, checklist and Our tax bring customers' believe help specific and back a provides real unique situation, differentiated downloadable for of this the actions to savings for
advantages, Pro for way to for filer the and This customized this bigger lesser get visually years customer enticing greatly a reveal the individual Tips refund to this that feature enhanced season. helped come. tax is known and a year expanded for has
commonly deductions $XXX,XXX in our personalized our Maximizer, of accuracy helps like features, experience, customers an are as uncover also guarantee. some well as overlooked, our more back additional which enhanced We brought popular Deduction
the and our level tax personalized of online years insight we're real money believe significant health This customers offers We of only software delivers company can value save and tax now guidance to that into for to customers. this financial who come. our the
offering, our live offer last is tax here Tax assisted One Help. gurus update where
expanding are you offering we season. this our recall, and As may this year piloted last testing
model. fully Our goal exit and offering to a with economic is at next our testing prove launch plan season, to vetted more this profitably viable scale a should season a fulsome
this great in over is one showing rates. to I things great and with have positioning long-term and our that's already made in we've strides terms full product product offseason higher Curtis deal conversion exciting the my medium see has perhaps his and great most results capabilities the at business for significantly the improved, business. to of a helm, in the Overall, observations. job a and been improving done of me the in opportunity that of initial first
The and units combined be higher when efforts, product with marketing rates to in improvements stronger drive a will going the grow years. in will coming forward, retention position improved
our estimates. expectations with In the had tax made The number the which previous performance our itself strong a for remain in good conclusion, season full for for quarter, progress business, future a we positioning record in with of across solid Blucora fourth a company capped And categories. XXXX growth. line had
as I'm ways already a and my in number optimize just While could I'm we initial of in growth tenure assessing rates. organic three observation, my and CEO I learning of for higher week only still number see
it With Todd. me let that, turn to over
