Family Office
Californian wealth shop, CPA plan merger
CPAs Clopine & Associates to become part of Centara Wealth Management. Wealth consultancy Centara Capital Management is merging with Clopine & Associates, a CPA firm that specializes in tax planning and accounting for small businesses. The two San Diego-based firms say the combination will result in a “comprehensive, coordinated planning approach” for clients.
Clopine & Associates will become part of Centara’s small-business and income-tax unit. A spokeswoman for Centara wasn’t able to say when the merger might be completed, nor was she able to say anything about the financial terms of the deal.
That's one reason
Centara executive v.p. Garry Martin says deals such as the one between his firm and Clopine & Associates are apt to become “more common, as the population becomes more educated about the benefits of the total coordinated planning model.” By “total coordinated planning” model, Martin means in-house solutions for clients’ personal and professional taxation and accounting needs.
Clopine & Associates’ Alan Clopine says the merger makes sense from a cultural perspective as well. “Centara employs the same consultative approach in each of their financial specialties [as we do],” he says. “We believe that our clients will find it extremely beneficial to access multiple financial services within one central office.”
Neither firm refers to the impending merger as a means to compete more effectively for high-net-worth marketshare against local, regional and national heavyweights.
Founded in 2000, Centara is a registered investment advisory that provides financial-, tax- and estate-planning services to high-net-worth investors in the San Diego area. The firm doesn’t disclose its assets under advisory. The firm had $40 million in assets under management at the time of its latest ADV filing with the Securities and Exchange Commission.
Clopine & Associates was established in 1987. It provides accounting and income-tax services to small businesses – especially technology and real estate companies – and business owners. –FWR
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