Cohen & Company Expands Its Service Offerings with TWM Acquisition

Cohen & Company, one of the leading accounting firms in the United States, has announced its strategic acquisition of Tax and Wealth Management, Inc. (TWM). This move aims to enhance the firm’s service offerings, specifically targeting high-net-worth individuals and family offices. The acquisition is expected to be finalized in early January 2025, further solidifying Cohen's position in the market.

TWM, founded by Brian Gothot, operates as a boutique CPA firm located in downtown Cleveland. The firm specializes in managing complex tax, estate, and financial needs, focusing primarily on a limited client base composed of family offices and ultra-high-net-worth individuals, as well as corporate executives engaged in international ventures. With a dedicated team of approximately 15 professionals, TWM is known for its personalized approach to tax and accounting advisory services.

Chris Bellamy, the CEO of Cohen & Company, expressed his excitement about the acquisition, stating, "We have known Brian and the work of his TWM team for many years and have tremendous respect for each other, our similar firm cultures and client service philosophies. This is a great strategic fit that will reinforce and build on our private client services specialized to family offices and high-net-worth individuals. TWM’s practice and next generation leadership will be an integral part of our accelerated growth in these areas."

Speaking on behalf of TWM, founder Brian Gothot noted, "The move to join Cohen & Company is right for us and serves as part of a longer-term succession plan for TWM. We’ve been extremely impressed with their leadership team and the firm’s strategic vision. We are excited to join the Cohen Company platform and make a meaningful impact together."

As part of the acquisition deal, all TWM professionals, including Brian Gothot and the two managing directors Doug Shostek and George Gothot, are anticipated to transition into Cohen & Company as partners.

The acquisition not only enhances Cohen's private client services but also signifies the firm’s ongoing growth journey. Earlier in 2024, Cohen & Company had announced a strategic investment by Lovell Minnick Partners, aimed at accelerating its multi-year strategic plan that emphasizes growth, technology, quality initiatives, and service area interests of its clients. The firm has also expanded through several other acquisitions over the last 18 months, including the Investment Management Group of BBD based in Philadelphia and Szymkowiak Associates CPAs in Buffalo, New York.

Cohen & Company has garnered significant recognition in the industry, being named one of America’s Most Recommended Tax and Accounting Firms by USA TODAY and recognized by INSIDE Public Accounting as one of the Best of the Best Firms. Established in 1977, the firm now boasts over 800 dedicated professionals across 13 offices in states including Colorado, Illinois, Ohio, Maryland, Michigan, New York, Pennsylvania, and Wisconsin. They also maintain an international presence in the Cayman Islands and Ireland through affiliated entities. For more information, visit their website at cohencpa.com.

In summary, the acquisition of TWM by Cohen & Company signifies a progressive step in enhancing their service offerings tailored towards affluent clients, fortifying their market stance as they continue to expand and innovate within the accounting and tax advisory sectors.