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
.