BDO USA adds LBA Wealth Management

BDO USA has expanded its wealth advisory practice through the addition of Jacksonville, Florida-based LBA Wealth Management.

The practice, a fee-only investment advisory firm encompassing seven professionals with USD350 million in assets under management, was recently ranked among the top CPA firms by assets under management by Accounting Today.   This announcement follows on the heels of The LBA Group, the Jacksonville-based accounting firm, joining BDO USA last November.   The two entities will continue to cohabitate in BDO’s Jacksonville offices at 501 Riverside Avenue.   David Albaneze, managing partner of LBA Wealth Management, will be joining BDO as managing director for BDO Wealth Advisory’s Southeast region.   The combination of BDO and LBA Wealth Management is subject to customary closing conditions and is expected to be completed on 1 April 2017.   “I want to welcome Dave Albaneze and his staff to BDO. LBA’s experience working with high-net worth clients in Jacksonville, Gainesville and throughout North Florida, combined with our previous expansion in South Florida last year, greatly increases our wealth management resources in the state of Florida," says Steve Parish, national leader of wealth advisory services at BDO USA. “Florida will serve as a stronghold for the continued expansion of our Wealth Advisory practice throughout the Southeast.”  

“When the LBA Group informed us of their intention to join BDO USA last fall, it was always our intention to reach a similar agreement with BDO’s wealth advisory practice. We share numerous clients with the accounting practice and there are obvious advantages to being able to provide complementary services under one roof,” says David Albaneze. “As part of a national firm, our clients will have access to a wider range of services and our people will have access to many more opportunities to pursue career growth.”


Category: Wealth management

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