The parties expect to provide the platform to HDVest advisors soon. The platform was described as offering "Best of breed 'automated advice' technologies with tax-smart investing strategies".

"Leveraging Financial Guard's technology, TaxAct customers will have the option to receive affordable and objective investment advice to take advantage of the current year's tax benefit of investing in retirement accounts within our filing process," John Clendening, president and chief executive officer at Blucora, said in a prepared statement. Blucora is TaxAct's parent company.

The system also has integrated tax management and optimization features solutions within the TaxAct tax preparation and filing product. Customers can access the platform directory on a do-it-yourself basis or as part of an advisor-assisted plan through HD Vest professionals.

TaxAct's DIY customers can receive personalized financial assessments based on their tax situations. They have the option of opening automated advisory accounts for IRAs and taxable investment accounts utilizing the Financial Guard platform.