# H&R Block

H&R Block is an other based in Kansas City, United States.

## Overview

- **Organization type:** other
- **Headquarters:** Kansas City, United States
- **Region:** North America
- **Address:** Kansas City, MO, United States
- **Founded:** 1955
- **Assets under management:** Undisclosed
- **Website:** www.hrblock.com

## About

H&R Block Inc. is an SEC-registered investment adviser since 2024. The firm manages approximately $186 million in regulatory assets. It has 1 employee and 1 investment adviser.

## People

- Jeffrey J. Jones II — President and Chief Executive Officer

## Questions

### How does H&R Block compete with Intuit's TurboTax?

Block competes by selling its physical presence as an advantage, not a legacy cost. Its 9,000 retail locations offer assisted filing for taxpayers who want a preparer to sign the return, while its free online tier fights TurboTax on price for simple 1040s. The firm’s Block Advisors unit also targets small-business owners who need quarterly bookkeeping, a segment where face-to-face relationships still matter.

### What role does the retail network play in the firm's economics?

The retail storefronts generate the bulk of assisted-preparation revenue, which carries higher average fees than software-only filing. Franchisees run roughly a third of those locations, paying royalties that give Block a capital-light income stream. The stores also serve as acquisition points for refund-transfer products and Block Advisors upsells, making the physical footprint a funnel rather than just overhead.

### Did H&R Block sell Wave Financial, and why does that matter?

Block acquired Wave Financial, a Toronto-based small-business fintech, in 2019 for $405 million, then sold it as a separate public company called Wave HQ in 2022. The exit indicated Block was refocusing on its core assisted-tax business rather than trying to become a cloud-accounting platform. The transaction removed a significant non-US technology asset from the portfolio.

### How does the firm handle refund-advance credit products?

H&R Block issues refund-advance loans through partner banks such as MetaBank, using its proprietary tax-data infrastructure to underwrite the advances. The firm does not hold the credit risk directly on its balance sheet in a meaningful way since divesting consumer deposits from H&R Block Bank. These products provide a critical customer-acquisition incentive for lower-income filers who file early in the season.

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Last updated: 2026-06-03T20:00:00.000Z

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