New York-based CohnReznick, specializing in tax advisory, accounting, and business consulting, announced its acquisition of the Oregon-headquartered Aldrich Group of Companies. Finalized by mid-December, the transaction incorporates Aldrich Wealth—a fee-only registered investment advisory firm managing roughly $8 billion in client assets.
Aldrich Wealth, which has about 45 employees, will become the wealth platform for CohnReznick’s existing wealth division, working with families and small businesses across investment management and insurance. The Aldrich team will offer services including investment management, financial and estate planning, family office and corporate retirement plan consulting.
CohnReznick CEO David Kessler said the wealth division will create “an important new avenue for growth and expand the solutions we can bring to clients.” The acquisition adds about 48 partners and more than 500 employees across offices in California, Colorado, Oregon, Utah, and Washington to CohnReznick. This expansion will increase the firm’s presence in these states.
Aldrich Wealth was founded in 1998 as an affiliate of Aldrich CPAs + Advisors, which was founded in 1973. The division was established to address the need for better money management options for long-time business clients experiencing liquidity events. Over time, it has developed a range of services to support these clients.
In the acquisition announcement, Aldrich Wealth CEO Heather Wonderly said joining CohnReznick “gives us the opportunity to build on the highly personal, fiduciary approach our clients value while expanding the resources and capabilities we can bring to individuals, families, business owners, and retirement plan sponsors.” This move is expected to benefit both firms’ clients.
The acquisition is part of a larger trend of wealth and tax tie-ups, as firms seek to create client referral channels and expand their share of existing clients’ wallets. CohnReznick has been acquisitive in tax and accounting in the past year, adding offices in several cities across the US. They have been expanding their services to better support their clients.
CohnReznick received a minority investment from private equity firm Apax Partners in February 2025, which has likely supported its recent expansion efforts. The firm’s moves are expected to enhance its capabilities and resources, ultimately benefiting its clients. As a result, they will be able to offer a wider range of services to their clients.