Profile: Blucora Inc (BCOR.OQ)
19 Jul 2019
Blucora, Inc., incorporated on April 9, 1996, is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through the Wealth Management and Tax Preparation segments. The wealth management segment consists of the HD Vest, Inc. (HD Vest) business. The tax preparation segment consists of the TaxAct, Inc. (TaxAct) business. HD Vest provides wealth management solutions for financial advisors. TaxAct provides digital tax preparation solutions for consumers, small business owners and tax professionals.
The Company's Wealth Management segment consists of HD Vest, which provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients. HD Vest's specialized model provides an open-architecture investment platform and technology tools to help financial advisors identify investment opportunities for their clients. HD Vest recruits independent tax professionals with established tax practices and offers specialized training and support, which allows to join the HD Vest platform as independent financial advisors. HD Vest has designed a learning management system for its advisors, branded VestU, with curriculum that introduces advisors to the investment business and helps them build their practices.
Tax Preparation Business
The Company's Tax Preparation segment provides digital do-it-yourself (DDIY) tax preparation solutions for consumers, small business owners and tax professionals. TaxAct is a provider of digital tax preparation solutions. It also offers a range of tax preparation solutions and online lead generation capabilities to enable the filing of approximately 60 million federal consumer tax returns. It has a 'free' federal and state edition that handled returns; a 'basic' offering that contained all of the features of the free federal edition in addition to import capabilities, taxpayer phone support, and return preparation assistance tools; a 'plus' offering that contained all of the basic offering features in addition to tools to maximize credits and deductions, and enhanced reporting, and a premium offering that contained all of the plus offering features in addition to tools for self-employed individuals to maximize credits and deductions. It also has an offering for small business owners. TaxAct offers its products with a price lock guarantee. In addition to these core offerings, TaxAct also offers ancillary services, such as refund payment transfer, data archive services, audit defense, stored value cards and other add-on services.
TaxAct's professional tax preparer software, which allows professional tax preparers to prepare and file individual and business returns for their clients. TaxAct offers pricing and packaging options for tax professionals. In addition, the professional tax preparer software includes features, such as the option of entering data directly into tax forms, utilizing the question-and-answer interview method to enter data, or toggling between the two data entry methods.
The Company competes with Intuit, H&R Block, Liberty and Jackson Hewitt.
6333 N State Highway 161 Fl 4
IRVING TX 75038-2219