(EMAILWIRE.COM, January 31, 2001 ) H.D. Vest, Inc. (Nasdaq: HDVS), the country's largest provider of financial services through tax professionals, today launched the 2001 version of its widely acclaimed FREE tax prep web site, www.hdvest.com.

Once again, H.D. Vest will be the only company to offer consumers free preparation and e-file of their tax returns - regardless of income or the complexity of their return - via a secure, reliable web platform. And once again, H.D. Vest is an official IRS e-file Partner. Last year H.D. Vest ranked second in the number of tax returns completed online. The 2000 filing season also saw H.D. Vest accumulate an enviable online availability record. The company expects about a million users to complete their returns using www.hdvest.com during 2001.

Easy to Use

The 2001 site offers many of the same features as last year's model, including an easy-to-use questionnaire to collect tax information, the ability to have refunds deposited directly into the user's bank account, various audit-check options, and FREE online technical support. The site has also added several top-line features for 2001, including the opportunity to open and fund an Individual Retirement Account (IRA) online and a completely paperless option with the new self-select PIN from the IRS.

Users can also set up a free personalized web site, MyHDVEST.com; a life-planning portal with a host of financial tools (account aggregation, a document vault, online trading and online banking services powered by CompuBank(R). The web site also hosts a number of investment tools such as debt-management tools, retirement and college funding calculators, and a wealth of investment education materials.

"Last year, hdvest.com hit a homerun with do-it-yourselfers who wanted a simple, convenient way to prepare and e-file their tax returns and organize their short- and long-term financial planning," said Herb D. Vest, Chairman and CEO of H.D. Vest. "The 2001 version of the site offers even more features and advanced functionality. E-filing via hdvest.com is the easiest, most convenient way for consumers to prepare their tax returns."

The 2001 www.hdvest.com site features include:

FREE, with no restrictions: H.D. Vest provides online tax-return preparation and e-filing free of charge, regardless of the user's income or the complexity of their return. H.D. Vest accommodates all IRS forms that can be e-filed, including schedules for sole proprietor businesses.
Federal and state returns: At hdvest.com, users can e-file their federal returns as well as their state returns. The system is currently testing for e-file with some states, but will support 21 states for e-file by the end of February. There are a total of 46 jurisdictions (including states and cities) that require separate tax return forms and www.hdvest.com will support all 46 for online preparation by the end of February.
Import last year's data: If a tax return was completed last year on www.hdvest.com, the user can easily import valuable data from last year's return, such as W2 data, 1099 data. This feature makes preparing tax returns a snap for returning users.
Privacy and security: The H.D. Vest site utilizes state-of-the art technology to ensure a private and secure environment. Grant Thornton LLP has granted www.hdvest.com the American Institute of Certified Public Accountants' (AICPA) WebTrust Seal for Online Privacy and Security, making it a WebTrust(TM)-certified site. H.D. Vest is the only tax site to have been awarded this coveted WebTrust(TM) seal. The web site also received VeriSign certification (ensuring that information is encrypted and protected against disclosure to unaffiliated third parties), the BBBOnLine® Privacy certification and is also a designated licensee in the TRUSTe Privacy Program. H.D. Vest guarantees privacy and security to users e-filing via www.hdvest.com - neither the tax return nor other confidential information can be viewed by anyone other than the consumer. No user information will be shared or sold to unaffiliated third parties. Additionally, at no time will users be contacted directly by anyone at H.D. Vest; if users want to avail themselves of additional H.D. Vest services, they must make the first contact with an H.D. Vest-certified tax professional
Help and support
Users can receive web site technical support FREE on www.hdvest.com through an email technical support team.

Fee-based tax preparation is available: Users who would like professional assistance preparing their tax return can easily locate an H.D. Vest Online affiliate through the Locate an Advisor program. H.D. Vest Online affiliates charge a fee for tax prep services. Users can also make an appointment to complete their tax return online with a tax professional (either a CPA or EA) via OnVEST, H.D. Vest's web conferencing system. Or, users may e-mail a special H.D. Vest tax affiliate for tax help. Part of the tax preparation process will include an online tax organizer that a user can fill out and forward to a local H.D. Vest online affiliate. All tax help will have a fee associated with it. The Locate an Advisor Program is also handy if a user receives an audit notice from the IRS or has a tax or investment question any time of the year. Year-round, users can find a tax-qualified investment professional near them. H.D. Vest affiliates each own and operate their own independent tax businesses.

Completely paperless options available FREE: The tax preparation process on www.hdvest.com allows any eligible user who would like to take advantage of the IRS Self-Select PIN process to easily walk through the steps of choosing their PIN and e-filing a paperless return. This will enable most users to e-file with the IRS without printing, signing or mailing a single piece of paper!
Faster and better service: Tax returns sent to the IRS electronically are normally processed 50% faster and have fewer errors. Additionally, when a return is filed electronically, the user is sent a confirmation within 24 hours that the IRS has received it.
Free audit check for federal returns: Available soon, H.D. Vest's exclusive, free Audit Alertsm Review Program will evaluate all tax returns submitted via hdvest.com for potential audit red flags and penalty-causing mistakes before the return is sent to the IRS. Some of the mistakes that Audit Alert will catch are errors in names, Social Security numbers and itemized deductions.
IRA: Available shortly, H.D. Vest has partnered with Putnam Investments to offer www.hdvest.com users the opportunity to open a regular or Roth IRA for as little as $20 (initial fee) utilizing a quick online order entry system.
Guaranteed accuracy: H.D. Vest will guarantee their tax return calculations to be correct or H.D. Vest will pay any penalty or interest charged the user.
The 1040 Analyst: By scanning a consumer's tax return, the 1040 Analyst provides detailed analysis for users who have gaps in their financial situation. This valuable feature, which only requires consumers to answer a handful of simple questions, is free of charge and available only from www.hdvest.com.
About H.D. Vest, Inc.
H.D. Vest, Inc. (d/b/a H.D. Vest Financial Services) is the country's largest provider of financial services delivered through tax professionals. H.D. Vest advisors manage over $16 billion in assets for individuals, families, and small businesses in all 50 states. As an application service provider (ASP), H.D. Vest offers advisors three primary tools to enhance the value of their practices: Personal Web Pages (PWP) for their clients, an online advisor's desktop, and generic public web pages for the advisor's firm. As a product provider, H.D. Vest offers its advisors access to a wide selection of products and services through its Investment Advisor, broker/dealer, insurance and affiliated companies. To round out the advisors' offerings, the company has established alliances in banking, brokerage and a plethora of other products and services. As an advisor support organization, H.D. Vest provides its advisors with in-house expertise through web conferencing, thorough training in financial planning, practice development tools and multi-channel customer service support. H.D. Vest, Inc. common stock trades on NASDAQ under the symbol HDVS.

Securities offered through H.D. Vest Investment Securities, Inc. Member: SIPC, 6333 N. State Highway 161, Suite 400, Irving, TX 75038 (972) 870-6000.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in development, deployment and market acceptance of products, services and technologies and other risks detailed from time to time in H.D. Vest's filings with the Securities & Exchange Commission.

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Produced for H.D. Vest

Contact: Nyree Wright
Ogilvy PR Worldwide
(212) 880-5348
p nyree.dawn.wright@ogilvypr.com

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